The Real Deal New York

Trump: NY casino projects will “all go down the tubes”

Developer of the recently shuttered Trump Plaza in NJ says market is saturated

October 20, 2014 04:55PM

donaldtrump

Donald Trump and the Trump Taj Mahal in Atlantic City

In the wake of the recent closure of Trump Plaza in Atlantic City, N.J., Donald Trump is speaking out against the four-casino project heading to upstate New York.

“Ultimately, there’s too much competition and they’ll all go down the tubes,” Trump told the New York Daily News. “The problem is the whole country is becoming one big gambling casino, and many of them will die.”

The developer founded Trump Entertainment Resorts, which operates the Trump Plaza and the struggling Trump Taj Mahal, but he has said he has no financial stake in the company. He sued to have his name removed from both the Taj and the Trump Plaza earlier this year, as previously reported.

The New York casinos are slated for the Albany, the Southern Tier and potentially in either the Catskills or Orange County. Fifteen developers, including Genting and Caesars, expressed interest in developing a casino upstate. [NYDN]Mark Maurer

  • getreal

    Trump is right. Casinos in these areas are totally misguided financially and environmentally.

  • coco

    Trump is right. He is always right about these things. Even when he is wrong, he is right.

  • Perry

    Different demographics. The AC customers came from NYC and Pa. Resorts at Aqueduct is highest gross Casino in the country

    • realposter

      yup – filled with ppl who can’t afford to be gambling… eventually they will fail. plus – Aqueduct is in a densely packed area – it’s not the same.

      • Perry

        These people used to go to AC on the bus

        • realposter

          taking bus down to AC is not the same as taking the subway or driving 15 min.

          AC lost a lot from Foxwoods and such..

  • Oouch

    Because competition is bad for Capitalism, right Don? Competition is a Communistic notion. Price fixing, anti-trust manipulation and market fixing is what our nation is founded upon as bedrock. And what could be more basic to producing things that people need than gaming? When will someone flush the toilet and slam the lid on this moron?

  • Flipoutnyc

    he might be right because how much can each Casino steals from the citizens. If their goal of the casino is making money out of the citizen, and people are losing money on gambling, at one point the citizens will stop gambling. Then the casino industry will collapse. Boo hooo. The casino industry will collapse.

  • ralphpetrillo

    Christie wants Sports betting legalized at all race tracks. So Meadowlands Racetrack fifteen minutes away from NYC will get huge dollar volume. WYNN got approval for $ 1. 6 billion casino in Boston. Competition will heat up. Better to get a few wealthy developers who do not know about the tight profit margin and competition to open up three large billion dollar projects in the Bronx. if they go under, convert them to hotels.

  • Stevepra

    First time I agree with Donald!!

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