The former property of Trump, the hotel plaza and casino property located in New Jersey, has been recently demolished. But why was it demolished? Is it due to political reasons or just plain other reasons?
Hotel Plaza & Casino of Former President Donald Trump Demolished
According to NBC News, the said property in question was recently demolished last Wednesday morning. It was known by its name as Trump Plaza Hotel and Casino, but the said property was closed in 2014. One factor that played into its demolishing is the heavy deterioration the building has suffered over the past few years of non-operation, and due to that, it is believed that no proper maintenance and upkeep was held during those times.
Previously known for the hotspot for celebrities and famous people alike, the derelict building has been completely demolished after 9:08 am that day. Thanks to the previous fame the said building had a few years past, Atlantic City hugely benefited from the popularity of the former president's previous property.
Sadly, Trump cut his ties with the said establishment in 2009 after a few negative events happened, such as series of bankruptcy filings. Surprisingly, even after the former president did that in 2009, the establishment still retained its name up until it was demolished.
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Value of Former Trump Hotel Plaza & Casino
According to npr.org, the 39-story building only lasted for 30 seconds during its demolition process. A series of controlled explosions and a single, quick implosion reduced the former tall and proud building into a huge pile of rubble, dirt, broken glass, and wrecked metal.
The said establishment was originally opened in 1984, and during its heyday, it was one of the most successful casino establishments in Atlantic City during that time. Unfortunately, it won't be the same after 30 years, being one of the poorest casino establishment recorded in 2014 when it closed it doors to the public permanently.
Just two years after, in 2016, the closed establishment was purchased by a well-known person and businessman, Carl Icahn. Full name Carl Ceilan Icahn, he is the founder of the Icahn Enterprises, which is known primarily for investing in auto parts (thanks to its connection with General Motors), energy-related investments, metal production, rail car production, casino establishments, a food packaging business, real estate, and home fashion industry. Ichan is also the current controlling shareholder of that said business enterprise.
However, this wasn't the original date of the demolition of the said derelict building. It was originally meant to be demolished on the 29th of January of this year. There was even an auction held for the highest bidder for the one who will have the chance to start up the demolition explosion of the building.
Unfortunately, both events were delayed and the auction was dropped, instead favoring an ordinary demolition process instead. The main reason as to why the auction event was dropped was due to the objections of Icahn, who apparently didn't like the idea of that particular auction.
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