Atlantic City Casinos Closing: Tropicana to Be Next
The Tropicana Atlantic City, one of the most iconic casinos in the resort city, is set to close its doors for good on September 15, 2022. The closure is part of a larger trend of casinos closing in Atlantic City, which has been struggling economically for years.
Why is the Tropicana Closing?
There are a number of reasons why the Tropicana is closing. First, the casino has been struggling financially for years. In 2018, it was sold to a group of investors for just $20 million, a fraction of its value just a few years earlier. The new owners have been unable to turn the casino around, and it has continued to lose money.
Second, the Tropicana is facing increased competition from other casinos in Atlantic City. The city has seen a number of new casinos open in recent years, including the Hard Rock Hotel & Casino, the Ocean Resort Casino, and the Golden Nugget Atlantic City. These new casinos have lured away customers from the Tropicana, making it even harder for the casino to turn a profit.
Third, the Tropicana is located in a less desirable area of Atlantic City. The casino is located on the boardwalk, but it is far from the other casinos and attractions in the city. This makes it difficult for the casino to attract customers, especially those who are not familiar with Atlantic City.
What will happen to the Tropicana’s employees?
The closure of the Tropicana will have a significant impact on its employees. The casino employs over 2,000 people, and many of them will lose their jobs. The casino has said that it will be working with its employees to find them new jobs, but it is unclear how many of them will be able to find work in Atlantic City.
What will happen to the Tropicana’s property?
It is not yet clear what will happen to the Tropicana’s property after it closes. The casino is owned by a group of investors, and it is up to them to decide what to do with the property. There have been some rumors that the property could be sold to another casino operator, but nothing has been confirmed.
The Impact of the Tropicana’s Closure on Atlantic City
The closure of the Tropicana will have a significant impact on Atlantic City. The casino is one of the city’s largest employers, and its closure will mean a loss of jobs and tax revenue. The closure will also hurt Atlantic City’s tourism industry, as the casino is a popular destination for visitors.
The closure of the Tropicana is just the latest in a series of blows to Atlantic City’s casino industry. In recent years, the city has seen a number of casinos close, including the Trump Taj Mahal, the Revel, and the Showboat. The closures have been caused by a number of factors, including the economic recession, increased competition from other casinos, and the rising cost of doing business in Atlantic City.
The future of Atlantic City is uncertain. The city has a long history of economic problems, and it is unclear whether it can survive the loss of its casino industry. However, there are some signs of hope. The city has been working to diversify its economy, and it is attracting new businesses and residents. If Atlantic City can continue to diversify its economy, it may be able to survive the loss of its casinos.
Conclusion
The closure of the Tropicana is a significant event for Atlantic City. The casino is one of the city’s largest employers, and its closure will have a major impact on the city’s economy and tourism industry. The closure is just the latest in a series of blows to Atlantic City’s casino industry, and it is unclear what the future holds for the city.
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