{"id":8179,"date":"2014-10-21T02:48:40","date_gmt":"2014-10-21T02:48:40","guid":{"rendered":"https:\/\/forumarchives.tmsites.net\/index.php\/2014\/10\/21\/donald-trump-says-upstate-new-york-casinos-will-go-down-the-tubes\/"},"modified":"2014-10-21T02:48:40","modified_gmt":"2014-10-21T02:48:40","slug":"donald-trump-says-upstate-new-york-casinos-will-go-down-the-tubes","status":"publish","type":"post","link":"https:\/\/forumarchives.tmsites.net\/index.php\/2014\/10\/21\/donald-trump-says-upstate-new-york-casinos-will-go-down-the-tubes\/","title":{"rendered":"Donald Trump says upstate New York casinos will 'go down the tubes'"},"content":{"rendered":"


\nDonald Trump, whose Atlantic City joints were a bust, says upstate New York casinos will ‘go down the tubes’<\/span><\/strong><\/p>\n

\tThe Donald predicted the state will take a loss in the not-too-distant future because the market in the Northeast is saturated. Trump says he no longer has financial interests in casinos in New Jersey, and recently has fought to have his name removed from the troubled Trump Taj Mahal.<\/span><\/strong><\/p>\n

\tALBANY \u2014 Donald Trump, whose casinos crapped out in Atlantic City, says New York State is likely to roll snake eyes in its bet on four upstate gaming parlors.<\/p>\n

\tThe former casino magnate told the Daily News that the planned casinos will generate excitement and revenue in the short term \u2014 but he predicted the state will take a loss on the risky gamble in the not-too-distant future because the market in the Northeast is saturated.<\/p>\n

\t\u201cUltimately, there\u2019s too much competition and they\u2019ll all go down the tubes,\u201d he said. \u201cThe problem is the whole country is becoming one big gambling casino, and many of them will die.\u201d<\/p>\n

\tTrump says he no longer has financial interests in casinos in New Jersey. He recently has fought to have his name removed from the troubled Trump Taj Mahal \u2014 he pulled out in 2009 \u2014 and its owner, Trump Entertainment Resorts, which is going through its fifth bankruptcy, at least two of which took place while he ran the company.<\/p>\n

\tIn the end, it will end up like a lot of other places \u2014 like Atlantic City.
\n\tNew York, The Donald said, is late to the game and will have to compete with gambling halls in Pennsylvania, Delaware, Connecticut and possibly Massachusetts. New Jersey is also considering casinos closer to the New York border.<\/p>\n

\tTrump, a member of the American Gaming Association\u2019s Hall of Fame, points to the mass closings of casinos in Atlantic City as proof the market is shifting.<\/p>\n

\t\u201cIt\u2019s not going to be easy upstate,\u201d he said. \u201cIn the short term, there will be excitement and glitz. But in the end, it will end up like a lot of other places \u2014 like Atlantic City.\u201d<\/p>\n

\tALBANY \u2014 Donald Trump, whose casinos crapped out in Atlantic City, says New York State is likely to roll snake eyes in its bet on four upstate gaming parlors.<\/p>\n

\tThe former casino magnate told the Daily News that the planned casinos will generate excitement and revenue in the short term \u2014 but he predicted the state will take a loss on the risky gamble in the not-too-distant future because the market in the Northeast is saturated.<\/p>\n

\t\u201cUltimately, there\u2019s too much competition and they\u2019ll all go down the tubes,\u201d he said. \u201cThe problem is the whole country is becoming one big gambling casino, and many of them will die.\u201d<\/p>\n

\tTrump says he no longer has financial interests in casinos in New Jersey. He recently has fought to have his name removed from the troubled Trump Taj Mahal \u2014 he pulled out in 2009 \u2014 and its owner, Trump Entertainment Resorts, which is going through its fifth bankruptcy, at least two of which took place while he ran the company.<\/p>\n

\tIn the end, it will end up like a lot of other places \u2014 like Atlantic City.
\n\tNew York, The Donald said, is late to the game and will have to compete with gambling halls in Pennsylvania, Delaware, Connecticut and possibly Massachusetts. New Jersey is also considering casinos closer to the New York border.<\/p>\n

\tTrump, a member of the American Gaming Association\u2019s Hall of Fame, points to the mass closings of casinos in Atlantic City as proof the market is shifting.<\/p>\n

\t\u201cIt\u2019s not going to be easy upstate,\u201d he said. \u201cIn the short term, there will be excitement and glitz. But in the end, it will end up like a lot of other places \u2014 like Atlantic City.\u201d<\/p>\n

\tIn New York, gaming at nine already established racetrack video slot machine parlors generated a record $1.9 billion in the 2013-14 fiscal year, thanks largely to the highly profitable Aqueduct racino. Five of the facilities, located upstate, posted net losses.<\/p>\n

\tThe numbers overall have declined 2.5% in the second quarter of the current fiscal year. Building four new casinos will simply redistribute some of the revenue by taking away business from the racetrack casinos, particularly at Aqueduct and Yonkers, the two biggest money-earners, experts say.<\/p>\n

\tLee Park, a spokesman for the state Gaming Commission, said saturation of the market in and outside New York is one of the issues being considered in deciding where to place the upstate casinos. Two are expected in either Orange County, an hour out of New York City, or in the Catskills, while the other two casinos will be located in the Albany region and the state\u2019s Southern Tier.<\/p>\n

\tIn New York, gaming at nine already established racetrack video slot machine parlors generated a record $1.9 billion in the 2013-14 fiscal year, thanks largely to the highly profitable Aqueduct racino. Five of the facilities, located upstate, posted net losses.<\/p>\n

\tThe numbers overall have declined 2.5% in the second quarter of the current fiscal year. Building four new casinos will simply redistribute some of the revenue by taking away business from the racetrack casinos, particularly at Aqueduct and Yonkers, the two biggest money-earners, experts say.<\/p>\n

\tLee Park, a spokesman for the state Gaming Commission, said saturation of the market in and outside New York is one of the issues being considered in deciding where to place the upstate casinos. Two are expected in either Orange County, an hour out of New York City, or in the Catskills, while the other two casinos will be located in the Albany region and the state\u2019s Southern Tier.<\/p>\n

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Donald Trump, whose Atlantic City joints were a bust, says upstate New York casinos will ‘go down the tubes’ The Donald predicted the state will take a loss in the not-too-distant future because the market in the Northeast is saturated….<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-8179","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=8179"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8179\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=8179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=8179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=8179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}