Donald Trump explains why Atlantic City is failing: VIDEO

Billionaire developer lays out why casino town is in big trouble

From left: Donald Trump and the Trump Hotel and Casino in Atlantic City
From left: Donald Trump and the Trump Hotel and Casino in Atlantic City

Real estate mogul Donald Trump, whose name adorns multiple Atlantic City buildings, said that after he left the town “that’s when it went bad.”

While Trump said he was “honored by that statement,” the billionaire said he is mostly sad for the current state of affairs in the beach town. The troubles, said Trump, are mostly caused by too much competition and what he described as the “wrong location” for the convention center.

“Atlantic City was a place I really loved,” Trump said.

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Earlier this week, Revel — the most expensive hotel and casino in Atlantic City — announced it will be closing in September. Three other casinos in the town are closing, too. [Bloomberg News] and [Business Insider] — Claire Moses