Atlantic City’s former Trump Plaza casino is likely to remain closed for at least 10 years following a judge’s approval of a deed restriction prohibiting anyone from re-opening it as a casino.
Delaware bankruptcy court judge Kevin Gross approved a deed restriction Thursday imposed by Trump Entertainment Resorts on the former casino.
The restriction prevents anyone from re-opening Trump Plaza as a casino for 10 years, although it could be used for a non-gambling purpose.
It was done to avoid potentially higher taxes under a bill Gov. Chris Christie could sign soon allowing casinos to make payments in lieu of taxes for 15 years.
The bill applies to any property that was licensed to operate as a casino in 2014 and that does not have a deed restriction.