The news shocked many Americans when Trump Taj Mahal’s Casino filed for bankruptcy this past week. The New Jersey market has always been known as one of the better places to gamble. The Ultimate Gaming Company was the first one that offered online poker to residents in the US. But, when the announcement came over the famous Trump Casino closing, they are pulling out of the New Jersey market. They were partners with this casino located in Atlantic City. The news is shaking the gambling world, but could it mean that people are looking to online methods of gambling rather than going to a facility?
Ultimate Gaming is based out of Las Vegas and it has terminated the agreement they had with the said casino for online gaming. They stated that there were multiple breaches against the agency, and after it filed for Chapter 11 protection, the breaches became known. However, Ultimate Gaming will continue to offer online poker in the Nevada area, but they consider the New Jersey market to be finished.
New Jersey was one of the few states in the union that legalized gambling online. They did this to allow states to have the ability to create more revenues and prevent losing the online players. The original agreement stated that the original servers were going to be housed in the Trump Taj Mahal’s Casino. However, since the inception of the agreement the revenues projected have failed to meet the expectations of the company. There have been closures of five casinos, out of 12 in Atlantic City within the past year. The real problem is Atlantic City has been hurt by the competition in neighboring states. While they were once the only area with such flexible laws on gambling, that is no longer the case.
While the casino is still open, they anticipate that it will have to close in November of this year. The bankruptcy petition was filed on September 9th. This is a big blow to the Atlantic City market, but could be an indication of just how much online gambling is affecting the established business. Online gaming hasn’t been big in the US, well at least not as much as it has been in other areas. However, with many sites within specific states looking to the courts for bankruptcy protection, one cannot argue that the increased revenue wouldn’t be helpful.
Online gambling is become the way to play. The odds are higher and the new player bonuses are lucrative. A person has the ability to enjoy responsible gaming in the comforts of their own home. There’s no need to worry about parking, entry fees, or the expensive food. Well, there is really no reason to even get dressed up. Playing poker, craps or the slots can be done while yelling at the children and even cooking dinner.
The possible closing of the Taj Mahal’s Casino, just shows that things are morphing and changing and online gaming is becoming the norm. Analysts anticipate that over the next few years there will be more and more online casino’s popping up and more and more physical establishments shutting down.