A $255 million, 782-room hotel tower will officially open Thursday at Trump Taj Mahal Casino Resort in Atlantic City.
According to an AP story, "The tower could determine whether Trump Entertainment, which The Donald chairs but no longer runs, will survive. The company is $1.67 billion in debt; it's selling one of its other two Atlantic City casinos, and it has cut its total work force to 8,000 from 13,000 five years ago."
Atlantic City casinos have suffered from the new slot parlors in Pennsylvania and New York as well as the economic situation in general. In October, a complete smoking ban at Atlantic City casinos may further hurt the casinos' bottom line.
According to Donald Trump, "There's tremendous competition in Atlantic City, and the smoking ban is going to be a disaster," Trump said. "That's why we're excited about the (hotel) tower. We think it's going to do extremely well."
The Taj Mahal Casino Resort's new hotel tower third is the third major hotel project that has been completed in Atlantic City this year.
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