The Trump Plaza has been inactive for over a month, and yet the buzz surrounding the defunct New Jersey casino has been none stop. After closing its doors due to bankruptcy, the establishment’s parent company, Trump Entertainment, is still in talks with the bankruptcy courts in Delaware. The latest discussion revolves around the company’s hopes of selling off 353 of its slot machines.
The slots have been idle since September 15, 2014, when Trump Plaza officially locked up its doors for the last time. They certainly aren’t doing anybody any good in their current state; rather posing an additional cost for Trump Entertainment, which would otherwise be forced to dole out the expense of maintaining the slot machines and storing them in a secure facility. In an effort to make one last profit from the location, Trump is asking the permission of the courts to sell 353 of the slot machines, which include popular titles like Dangerous Beauty, Jackpot, Loveboat and Top Dollar.
Earlier this week, the company petitioned Judge Kevin Gross of the U.S. Bankruptcy Court in Wilmington, Pennsylvania for the right to sell the slot machines to Patriot Gaming and Electronics, Inc. According to Patriot’s website, buying and selling used gaming devices is a key part of its business. If the judge agrees to allow the slot machines to be sold, Trump Entertainment would collect $146,650, which works out to roughly $415 per device.
When Trump Entertainment filed its request with the courts in Delaware, it was explained that the slot “are no longer necessary” for the business’s purposes, and will succor “meaningful value” for the company’s creditors.
Trump Entertainment originally filed for Chapter 11 bankruptcy protection on September 9th, with its last day of business ending a week later on the 15th. The company also requested permission to break from its contract with the local casino union in hopes that it would not be forced to close down its other Atlantic City casino location, Trump Taj Mahal.
The Unite Here Local 54 union was up in arms, with 1,100 employees of the Taj Mahal under their representation. However, despite the union’s arguments, the judge ruled in favor of Trump Entertainment, allowing the casino company to shift their workers from a pension plan to a standard 401(k). The employees’ health care plan was also disposed of, forcing the staff to revert to the government’s new Affordable Care Act to acquire their own health benefits. In return, Trump Entertainment agreed to give each employee $2,000 to help reduce the burden of paying for their own medical insurance.
It should be noted that Donald Trump, who originally founded the Trump Entertainment organization, severed ties with the company several years ago. The business magnate only allowed the company to continue carrying his name under strict stipulations. When Trump Plaza closed down, followed by the announcement that Trump Taj Mahal may close its doors in November, Donald Trump was not pleased. Having breached the terms of the agreement to maintain the business in an upright and successful manner, he ordered his name removed from the facades of both New Jersey casinos, which now simply read ‘Plaza’ and ‘Taj Mahal’.