Mayor of Atlantic City, Marty Small Sr. expects the site of the former Tramp Plaza to be developed into a multiply used property, not the same type of casino.
The Boardwalk casino resort was established and owned by Donald Trump got tumbling down in the previous month. That property is located in the prime center of the city, and it is positioned at the Atlantic City Expressway’s end, which the main gate through which travelers enter the gambling inn.
The land that has the capacity to provide room for 39 story Trump Plaza is between the Caesars Atlantic City and Jim Wheelan Boardwalk Hall. The rest of the plaza is now awaiting to be leveled to the ground and cleaned by this summer. So, now is the proper time for the ardent people to ask what is coming next. Small has told KYW News radio that if he had it his way, it would be some kind of a mixed-use development facilitating family entertainment.
In addition to that, the Mayor also said that it would be a lot of open space, providing a lot of scopes to implement creativity. He knew that there were a lot of developers who were to be interested in that piece of open land. However, the future of the ground is totally up to the hand of Carl Icahn, the current owner of the trump plaza.
Atlantic City Overhaul
Just before the pandemic, nine casinos of Atlantic City were faring well. Earning Gross operating profits around $613 million in 2019, which was a 5.85 increase of that of 2018.
COVID-19, the distress the world is still suffering, has changed everything. Throughout the past nine months, gross profit has plunged about 86%. The nine casinos observed their profits fall from $484.6 million to $68.1 million just in this short period.
Realizing the current situation, the Mayor said that they had to diversify their offers as they couldn’t rely solely on casino gaming anymore. The Mayor stated that the city was about to be shaped into a casino town, and none should forget that. Never was a perfect time to make a shift do something different than that time.