Trump Plaza Hotel and Casino

Trump Plaza was a hotel and casino on the Boardwalk in Atlantic City, New Jersey, owned by Trump Entertainment Resorts. Designed by architect Martin Stern Jr., it operated from May 15, 1984 until September 16, 2014.[2]

For other buildings of the same name, see Trump Plaza.
Trump Plaza
Trump Plaza, September 2007
Location Atlantic City, New Jersey
Address 2500 Boardwalk
Opening dateMay 15, 1984
Closing dateSeptember 16, 2014
No. of rooms906
Total gaming space91,181 sq ft (8,471.0 m2)[1]
Notable restaurantsMax's Steakhouse, Rainforest Cafe
Casino typeLand-based
OwnerTrump Entertainment Resorts
Operating license holderTrump Plaza Associates
ArchitectMartin Stern Jr.
Previous namesHarrah's at Trump Plaza (1984)
Renovated in2006
Coordinates39°21′19″N 74°26′15″W

History

The beginning

Trump World's Fair first opened on the property as Playboy Hotel and Casino, The Trump Organization, a company owned by real estate developer Donald Trump, began construction of the casino in June 1982.[3] Harrah's, the gaming unit of Holiday Inn, joined as a partner a month later.[4] Trump would oversee the construction, while Harrah's would operate the property, referred to as Harrah's Boardwalk, after opening.[3]

The property opened as Harrah's at Trump Plaza on May 14, 1984.[5] The complex contained 614 rooms, seven restaurants, a health club, a 750-seat showroom and a 60,000 sq.ft. casino, all on a narrow 2.6-acre plot of land next to Caesars Atlantic City. Five months after opening, the name was changed to simply Trump Plaza, to avoid confusion with Harrah's Marina.[6] Part of the reason for this is that Harrah's was commonly associated with and attracted low-rolling gamblers, but Trump had built 85 high-roller suites, which were rarely used.[7] The casino performed poorly, with pre-tax profits of just $144,000 in the first half of 1985.[8] The poor results exacerbated disagreements between Trump and Harrah's,[8] leading to Trump buying out Harrah's interest in the property for $70 million in May 1986.[9]

In 1989, Trump paid $62 million to purchase the neighboring, unfinished Penthouse Boardwalk Hotel and Casino, including a hotel tower that had formerly been a Holiday Inn, and a nearby parking lot.[10] Trump planned to expand the Plaza onto the Penthouse site.[10] Trump also spent $63 million to purchase the bankrupt Atlantis Casino Hotel, separated from Trump Plaza by the Atlantic City Convention Hall, and rebranded it as the Trump Regency, a hotel annex to the Plaza.[11][12]

Trump Plaza hosted the WrestleMania IV and WrestleMania V events in 1988 and 1989 respectively. Although the World Wrestling Federation billed the events as being held at Trump Plaza, in reality Trump was only the sponsor of both events, which were held at the Atlantic City Boardwalk Hall. From 1985 to 1998, the hotel was also the onsite host of 19 professional boxing program events.[13]

The casino was the scene of a notorious baccarat session in May 1990, in which the Japanese high roller Akio Kashiwagi lost $10 million.[14] The incident was later fictionalized in Martin Scorsese's film Casino.

1990–2011

Trump Plaza's revenues took a sharp decline in 1990 due to competition from its newly opened sister property, the Trump Taj Mahal.[15] The casino narrowly averted default on a 1991 payment to bondholders by taking out a $25 million mortgage on its parking garage.[15] Trump then negotiated a debt restructuring with the Plaza's creditors, under which their $250 million of debt would be exchanged for $200 million of bonds with a lower interest rate, plus $100 million of preferred stock.[16] The plan was submitted as a prepackaged bankruptcy in March 1992.[17]

Construction of a $42-million expansion began in 1993.[18] The plan called for demolition of the unfinished Penthouse casino, the addition of 30,000 square feet of gaming space, and renovation of the former Holiday Inn building to become Trump Plaza's East Tower, with 361 hotel rooms.[18] The expansion was at the center of a major eminent domain court case, when Trump sought to obtain the property of Vera Coking, a retired homeowner whose house was adjacent to the Penthouse casino.[19] Coking, represented by the Institute for Justice, was victorious,[20] and plans to build a limousine parking lot were thwarted.

In 1995, Trump granted ownership of Trump Plaza to his new publicly traded company, Trump Hotels & Casino Resorts (later Trump Entertainment Resorts).[21][22] The company also acquired the Trump Regency hotel.[23]

The East Tower opened in two phases, in October 1995 and February 1996.[24][25] The expansion continued with the May 1996 opening of Trump World's Fair, a $48-million renovation of the Trump Regency with an added casino, connected to Trump Plaza by a loggia across the Atlantic City Convention Hall.[26]

On May 24, 2011, Trump Entertainment Resorts announced that a decision would be made within two months to either sell the casino or to renovate and expand it, possibly with a joint venture partner.[27] In February 2013, the company proposed to sell the property for $20 million to the Meruelo Group, a California-based company whose businesses include the Grand Sierra Resort in Reno. Meruelo planned to make significant investments in the property and rename it.[28] The deal fell through when Carl Icahn, senior lender for Trump Plaza's mortgage, declined to approve the sale for the proposed price.[29][30]

Closure
The former Trump Plaza Hotel and Casino after closure

On July 12, 2014, it was reported that the Trump Plaza Hotel and Casino would close on September 16, 2014, if a buyer was not found, putting an estimated 1,000 employees out of work. In early August 2014, Donald Trump filed a lawsuit requesting his name be removed from the facility, because it had fallen into disrepair, in violation of the licensing agreement for his name.[31]

Trump Plaza closed permanently on September 16, 2014.[2] This was the fourth Atlantic City casino to close in 2014, after the Atlantic Club, Showboat, and Revel. The closure left approximately 1,300 employees out of work.[32][33] The building was set to be demolished in the spring of 2018, except for the East Tower and the parking garage.[34] However, on May 29, 2018, the demolition plans had been delayed until at least the following fall due to funding disputes.[35] On December 14, 2018, another demolition deadline passed.[36] Carl Icahn bought the deed to the land Trump Plaza sits on, and terminated the complicated lease on the land that drove potential buyers out in late December 2018.[37] On June 11, 2020, Mayor Marty Small Sr. announced that Icahn has submitted plans for the hotel towers to be imploded, as they were considered a danger to public safety because of falling debris. Most of Trump Plaza in Atlantic City is slated to be demolished on January 29, 2021.[38] Atlantic City planned to auction off the right to press the button detonating the explosives, with the proceeds to benefit the Boys & Girls Club of Atlantic City.[39][40]

However, the auction was cancelled, after lawyers for IEP AC Plaza LLC, a subsidiary company of Icahn Enterprises, which owns the building, said they were unaware of the fundraiser and demanded it to stop the demolition.[41]

Hotel

Trump Plaza had 906 hotel rooms, and offered 5 different room styles for guests to choose from. There were also several amenities provided to hotel guests, like a pool and a fitness center.[42][43]

Rooms and suites
  • Deluxe room
  • Ocean View suite
  • Executive suite
  • Contemporary suite
  • Penthouse suite

Amenities
  • Indoor pool
  • Spa
  • Salon
  • Fitness center

Casino

Trump Plaza contained 86,000 square feet (8,000 m2) of gaming space, and featured all of the standard casino games. Slot machines, video poker, blackjack, poker, craps, roulette, baccarat, and more could all be found at Trump Plaza.[44]

Dining

Trump Plaza had several dining options from which patrons could choose.[45]

Fine dining
  • Max's Steakhouse
  • Roberto's Ristorante

Casual dining
  • 24 Central Cafe
  • China Cafe
  • Evo
  • Liquid Bar
  • Rainforest Cafe
  • Sarah's Cookies
  • Back in the Day Buffet

Quick service

Bars and nightclubs

Trump Plaza contained two nightclubs, Liquid Bar and Jezebel's, as well as a seasonal bar on the beach named The Beach Bar at Trump Plaza.

Shopping

There were few shopping options for those wishing to shop at Trump Plaza.[46]

Stores
  • Landau Jewelers
  • Front Page Gift Shop
  • Floral services

Events

Sports
Boxing and mixed martial arts matches were held at the casino.[47]

See also

References
  1. "Trump Plaza Hotel & Casino Review by Casino City". Trumpplaza.casinocity.com. Retrieved February 15, 2013.
  2. "Trump Plaza - Important Message" (PDF). Archived from the original (PDF) on August 31, 2014.
  3. Fen Montaigne (November 19, 1982). "10th casino heralded at shore". Philadelphia Inquirer – via NewsBank.
  4. "National news briefs". UPI NewsTrack. July 16, 1982 – via NewsBank.
  5. Donald Janson (May 15, 1984). "10th and largest casino opens in Atlantic City". The New York Times. Retrieved October 3, 2015.
  6. Donald Janson (August 13, 1985). "Trump and Harrah's feud over name". The New York Times. Retrieved March 27, 2016.
  7. "Gaming in Atlantic City.............. A History of Legalized Gambling in New Jersey" (PDF). Ccgtcc.com. Retrieved July 12, 2014.
  8. Steve Swartz (November 11, 1985). "Holiday, Trump drafting terms to end rocky alliance over Atlantic City casino". Wall Street Journal. ProQuest 397993833.  – via ProQuest (subscription required)
  9. "Trump is said to hold a stake in Holiday Corp". Wall Street Journal. September 4, 1986. ProQuest 397966711.  – via ProQuest (subscription required)
  10. Daniel Heneghan (March 20, 1989). "Trump buys neighboring Penthouse Casino site". Press of Atlantic City – via NewsBank.
  11. "Trump deal for Atlantis is completed". Philadelphia Inquirer. AP. June 30, 1989 – via NewsBank.
  12. "Regency to stay open without ties to the Plaza". Press of Atlantic City. July 29, 1992 – via NewsBank.
  13. https://boxrec.com/en/venue/37759
  14. The impact of a finite bankroll on an even-money game
  15. David Johnston (April 6, 1991). "Deal protects Trump Plaza from bankruptcy". Philadelphia Inquirer. Retrieved March 29, 2016.
  16. "3d Trump casino has bailout plan". Philadelphia Inquirer. January 23, 1992. Retrieved March 29, 2016.
  17. Terry Mutchler (March 10, 1992). "Two Trump casinos file for Chapter 11". Philadelphia Inquirer. AP. ProQuest 286594703.  – via ProQuest (subscription required)
  18. Douglas A. Campbell (June 23, 1993). "Small wrinkle in Trump's A.C. project". Philadelphia Inquirer. Retrieved March 29, 2016.
  19. "In Atlantic City, the widow vs. the real-estate mogul" Archived September 28, 2007, at the Wayback Machine. The Philadelphia Inquirer (February 14, 1997). Retrieved April 4, 2012.
  20. Law Offices of Glenn A. Zeitz Archived September 28, 2007, at the Wayback Machine
  21. Floyd Norris (June 7, 1995). "Trump Plaza casino stock trades today on Big Board". The New York Times. Retrieved March 31, 2016.
  22. Form 10-K: Annual Report (Report). Trump Hotels & Casino Resorts. March 27, 1996. pp. 12–13 – via EDGAR.
  23. Form 10-K: Annual Report (Report). Trump Hotels & Casino Resorts. March 27, 1996. pp. 98–99 – via EDGAR.
  24. "Trump Plaza beats the clock". The Star-Ledger. Newark, NJ. October 31, 1995 – via NewsBank.
  25. Donald Wittkowski (February 17, 1996). "Trump Plaza cuts ribbon on new expansion". Press of Atlantic City – via NewsBank.
  26. Joe Weinert (May 16, 1996). "World's Fair debuts". Press of Atlantic City – via NewsBank.
  27. "Trump Plaza may be sold or may be expanded, company CEO says - pressofAtlanticCity.com: Breaking News". pressofAtlanticCity.com. Retrieved February 15, 2013.
  28. "'You're acquired': Atlantic City's Trump Plaza fetches $20 million in bargain-basement deal". NJ.com. AP. February 14, 2013. Retrieved February 14, 2013.
  29. "California company's deal for Trump Plaza put on hold". Las Vegas Review-Journal. April 19, 2013. Retrieved April 19, 2013.
  30. Wittkowski, Donald. "Carl Icahn won't approve sale of Trump Plaza for $20M", The Press of Atlantic City. Accessed August 2, 2013.
  31. Parry, Wayne (August 6, 2014). "Trump: Plaza and Taj Mahal casinos too shabby to bear his name anymore". philly.com. Associated Press. Retrieved August 23, 2014.
  32. "Trump Plaza owners confirm plan to close in September". pressofAtlanticCity.com. July 12, 2014. Retrieved July 12, 2014.
  33. "Thousands out of work in Atlantic City as big casinos shut doors". Atlantic City News.Net. September 1, 2014. Retrieved September 1, 2014.
  34. Huba, Nicholas (November 2, 2017). "Trump Plaza set to be razed in the coming months". Press of Atlantic City. Retrieved March 19, 2018.
  35. "Demolition of Trump Plaza casino on hold". pressofatlanticcity.com. May 29, 2018. Retrieved July 5, 2018.
  36. Danzis, David (December 14, 2018). "No word on future of Trump Plaza as another demolition deadline passes". Press of Atlantic City.
  37. Danzis, David (January 6, 2019). "Icahn purchases deed, terminates lease on Trump Plaza". Press of Atlantic City.
  38. Isaac, John (November 21, 2020). "Trump Plaza Will Be Brought Down on January 29". Retrieved January 21, 2021.
  39. Parry, Wayne (December 16, 2020). "City to auction spot to push demolish button on Trump casino". Associated Press. Retrieved December 17, 2020.
  40. "For Auction: Implode Trump Plaza Atlantic City, NJ". Live Auctioneers. December 17, 2020.
  41. Kauach, Katie (January 18, 2021). "Fundraiser to push button at Trump Plaza demo canceled after owner objects". NJ Advanced Media; NJ.com. Retrieved January 18, 2021.
  42. "Rooms & Suites". trumpplaza.com (archived). Archived from the original on August 13, 2014.
  43. "Spa / Salon". trumpplaza.com (archived). Archived from the original on August 23, 2014.
  44. "Casino". trumpplaza.com (archived). Archived from the original on August 17, 2014.
  45. "Dining". trumpplaza.com (archived). Archived from the original on August 15, 2014.
  46. "Shopping & Recreation". trumpplaza.com (archived). Archived from the original on August 13, 2014.
  47. "Boxing is making a comeback in Atlantic City". pressofatlanticcity.com. Retrieved March 24, 2019.
Preceded by
Pontiac Silverdome		 Host of WrestleMania
1988 & 1989		 Succeeded by
SkyDome
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