Demolition of the Trump Plaza Hotel and Casino

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Peter Brandt July 20, 2020

After years back and forth, it was finally decided to tear down the Trump Plaza Hotel and Casino in Atlantic City, which has been inactive for some time. In the meantime, the dispute over the demolition of the last existing Trump gambling complex in Atlantic City is one of the rather inappropriate topics in times, since the Corona pandemic is not only the gambling stronghold Atlantic City, but also the state of New Jersey and the entire gambling industry strong added. Despite the latest decision, however, it has not yet been decided when the Trump casino can actually be demolished.

The dazzling shiller in Atlantic City has not yet fizzled out, but the gambling city is on the scabbard. ((©1778011/Pixabay)

Mayor Small and owner Icahn still disagreed

There is no question that the Gambling industry in Atlantic City Extremely suffered from the economic effects and consequences of global pandemic. Many casinos threatened and still threatens the existenceThe city on the Atlantic coast in the state of New Jersey is usually considered a particularly flourishing part of the country across the United States.

But “the little sister” of the illustrious Las Vegas has to struggle like the dazzling gaming metropolis. So it is extremely inconceivable in which many responsible city politicians are extremely inconvenient that further disputes agree to the current crisis situation. Especially the meanwhile Longly dispute over the demolition of the last remaining Trump casino The focus is on.

Trump building in Atlantic City. The history of the current US President Donald Trump will be connected to Atlantic City forever, even if the former real estate mogul has now cut all the connections to the city. At the height of his real estate activities, Trump made numerous spectacular investments in the city, including the Taj Mahal considered the showpiece of all real estate investments. After the failure of all casino and hotel projects, Trump had to pay $ 95 million in interest due to his liabilities. The city’s economic situation, which is still a precarious economic situation before Corona, is also attributed to Trump’s investments. The Trump Plaza Hotel and Casino is currently the last remnant in Trump history in the Atlantic city in New Jersey.

Marty Small, current mayor of Atlantic Cityhad recently announced that after tough back and forth an agreement was finally reached and the demolition of the last of the three Trump casinos-Trump Tai Mahal, Trump Marina and Trump Plaza-was officially enforced.

This is how simple the current owner of the building wants this, the Billionaire Carl Icahnbut do not accept. Its plans provide the summer 2021 for the demolition of the building, specifically it should start to demolish in June of the year. Mayor Small, however, is significantly too late. Legally and officially, he now wants to have it checked whether the complete demolition cannot be realized in winter 2020 or at least spring 2021.

Icahn must say goodbye to his own plans

Far before the current demolition decision occurred, Carl Icahn actually had other plans for the former Trump building. It was also early for the real estate investor that the entire building, which is known to consist of two towers, will not be preserved, but at least One of the two towers should remain.

If it had been after Icahn’s plans, the part of the building above the Well -known Rainforest Café be preserved. Economically, this would make sense. But the Desolate condition of the property has now thwarted this plan, so that Icahn had no choice but to agree to the demolition of the entire building.

Who is Carl Icahn? Carl Icahn is one of the best known and most wealthy investors in the United States. A short time recently, Icahn even acted as a personal advisor to US President Trump. However, after it became known that Icahn should be involved in dubious agreements, among other things with the Refinery Group CVR Energy, Icahn’s long-time friend and companion Donald Trump also saw himself to dismiss Carl Icahn as a consultant. Officially, however, it was said that Icahn had voluntarily resigned because the US Senate with Neomi Rao had found a government representative as a replacement for his previously active consultant role.

Thus, Mayor Marty Small ultimately won and, in his opinion, led to an inglorious end. The end of Carl Icahn’s activities in Atlantic City should still not be, because as the owner of the property area Small have to advise together with Icahnwhat should be built instead of the demolished Trump casino on the then exposed property