Times are tough for casinos all over Atlantic City, as it seems like the Taj Mahal is next in line to close up shop. A source told KYW-TV CBS Philadelphia that the Taj already started the process of filing for bankruptcy. Layoffs are poised to start in the coming weeks with 2,800 jobs on the line.
The Taj Mahal had its grand opening in 1990 with a Michael Jackson performance and its construction cost almost a billion dollars. The movie that catapulted poker into the mainstream, Rounders, was shot partly at the Taj Mahal, but it seems like visiting and playing in the same room where Mike played against Johnny Chan.
“I’m sorry John, I don’t remember,” was Matt Damon’s famous line after beating Chan out of a pot, but the setting to that iconic movie will now be lost forever, if the Taj indeed closes its doors forever.
Deutsche Bank’ forecast showed that by 2017 the Atlantic City gambling market would shrink from 11 to 6 casinos, and so far it seems to be headed to that number rather quickly. After Trump Plaza Casino, Showboat and Revel Casino closed their doors recently it looks like the Taj is next.