Trump Taj Mahal is officially closed. It has been a symbol of luxury and entertainment for decades, as well as a symbol of an impressive incapacity of management. Now that this giant enterprise is finished, it is possible to strike a balance and understand what it was all about. So, let us take a journey into Trump Taj Mahal history.
– April 2, 1990, Donald Trump opens the largest casino in Atlantic City, which promises to become the world’s biggest center of gambling, an actual gambling El Dorado. It costs more than $1 billion, so the future earnings must be equally great.
– A year after, 1991, the Taj experiences a prepackaged bankruptcy. It was not a catastrophe and there was nothing special in this scheme, however, the results of this operation were not favourable for the casino itself.
– June 1996, the cost prohibitive Taj Mahal has been negotiated to Trump Hotels & Casino Resorts, which has bought Trump’s casino empire a new lease of life.
– 2004, Trump relinquishes a position of CEO, distancing himself from the obviously no-win casino.
– 2014, after a series of bankruptcies, Trump commences a suit, attempting to remove his name from the Taj. According to his words, this casino has failed to achieve the promised success and prove its ‘superior reputation’.
– September 10, 2014 Trump announces plans to close the Taj.
– February 2016, the Taj pass into the hands of Icahn Enterprises.
– Finally, October 10, 2016, – the last day of the world’s largest casino. After years of losses and capitulations, Trump Taj Mahal was finally closed.
The Fail Of Trump Taj Mahal: Possible Reasons
Hence, one of the largest casino empires is no more. Surely, this does not mean that all enthusiastic gamblers have no chance to enjoy their favorite games while staying in a comfort zone. While many real casinos experience hard times, online ones prosper and invent all the new ways to amuse their visitors. In truth, finding the best internet casino is not a big deal, you can see for yourself.
So, what were the reasons of this grand fail?
– Well, primarily, the Taj Mahal has never been as popular as it claimed to be. This casino was amazingly luxurious, it boasted of great wins and festivals, and still, it could not attract enough visitors to cover outlay.
– Secondly, the Taj fall a victim to Donald Trump’s ambitions. It was built on debts and despite all attempts, these debts grew every year. It is a perfect example of an enterprise built on contemporary trends, which were considered permanent and unchangeable.
– Finally, the Taj was a financial disaster for too long. In fact, it has never shown satisfying results, all its gains were always smaller than investments. This empire was too large to change and being left without reorganization, it met the only possibly end even as it has been postponed for too long.