December 2nd, 2010 – by Glen Farmer
Trump Entertainment Resorts Inc. on Wednesday laid of nearly 250 employees. The layoffs come as part of their restructuring plan after the bankruptcy that the company had suffered.
Last month, Bob Griffin took charge as the CEO of Trump Entertainment Resorts. Layoffs in both executive positions and hourly employees were expected at Trump Taj Mahal, Trump plaza, and the Trump Marina.
This is expected to be the final job cuts for the company in current times.
In order to prevent further losses, the company has effectuated a restructuring after emerging from Chapter 11 bankruptcy protection.
The faltering environment in Atlantic City has caused many planned layoffs in the region.
New Jersey’s legislation has been contemplating their own restructuring, which could ultimately aid the properties operated by Trump Entertainment Resorts. Changing how revenue is handled is one key event to the changes in the gambling industry, but the biggest change could come in the form of online gambling.
Internet gaming in the form of casinos and poker rooms could infuse additional cash into the gambling industry in Atlantic City.
The state government has also been contemplating the addition of sports betting into the state, if federal laws could be changed to accommodate expanded sports gambling.