{"id":29667,"date":"2015-06-30T13:30:37","date_gmt":"2015-06-30T20:30:37","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=29667"},"modified":"2015-06-30T13:38:54","modified_gmt":"2015-06-30T20:38:54","slug":"trump-plaza-could-be-closed-to-casino-gaming-for-10-years-to-avoid-taxes","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/trump-plaza-could-be-closed-to-casino-gaming-for-10-years-to-avoid-taxes\/","title":{"rendered":"Trump Plaza Could Be Closed To Casino Gaming For 10 Years To Avoid Taxes"},"content":{"rendered":"<figure id=\"attachment_29668\" aria-describedby=\"caption-attachment-29668\" data-style=\"width: 428px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-29668\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/06\/15869538-mmmain.jpg\" alt=\"Trump Plaza deed restriction casino\" width=\"428\" height=\"285\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/06\/15869538-mmmain.jpg 620w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/06\/15869538-mmmain-142x95.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/06\/15869538-mmmain-166x110.jpg 166w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/06\/15869538-mmmain-450x300.jpg 450w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/06\/15869538-mmmain-600x400.jpg 600w\" sizes=\"(max-width: 428px) 100vw, 428px\" \/><figcaption  id=\"caption-attachment-29668\"class=\"text-description\">A deed restriction on Trump Plaza would prevent it from being used as a casino for the next ten years. (Image: Craig Allen\/NJ.com)<\/figcaption><\/figure>\n<p>Trump Plaza was one of the four Atlantic City casinos to close down last year, and there are no immediate plans to reopen the facility.<\/p>\n<p>But Trump Entertainment Resorts is taking steps to ensure that if the buildings are used again anytime soon, it won\u2019t be as a casino.<\/p>\n<p>The company filed for a deed restriction for the property, one that would prevent anyone from operating a casino there for at least ten years.<\/p>\n<p>The building could still potentially be used for other purposes during that time.<\/p>\n<h2><b>Deed Restriction Could Prevent Casino Payments<\/b><\/h2>\n<p>The move is part of a plan to avoid making payments in lieu of taxes (PILOT), part of a proposal that could be signed by Governor <a href=\"https:\/\/www.casino.org\/news\/chris-christie-allows-new-jersey-sports-betting-despite-ban\" target=\"_blank\">Chris Christie<\/a> in the near future.<\/p>\n<p>In its current form, the bill would apply to any Atlantic City property that was licensed as a casino in 2014 and doesn\u2019t have a deed restriction preventing it from operating as a casino again.<\/p>\n<blockquote class=\"main-blockquote\"><p><strong>For many casinos still in operation, the PILOT program may be beneficial, as it will provide financial certainty for the next 15 years for both the casino owners and the Atlantic City government.<\/strong><\/p><\/blockquote>\n<p>However, Trump Entertainment Resorts fears that they would be hit with payments despite the fact that they no longer use the Trump Plaza, due to the fact that it operated as a casino into September of 2014.<\/p>\n<p>Trump Entertainment is already appealing its property tax bills for 2014 and 2015. However, casinos will no long have the option of appealing property taxes (or more precisely, the payments that would be replacing these taxes) once the PILOT program goes into effect.<\/p>\n<p>\u201cThe Plaza could be required to make mandatory payments under the PILOT program notwithstanding the fact that it generates no revenue and its hotel rooms are closed,\u201d Trump Entertainment wrote in a filing with a Delaware bankruptcy court on Friday. \u201cThe PILOT program applies to casino gaming properties that are \u2018not subject to recorded covenants prohibiting casino gaming.\u2019\u201d<\/p>\n<h2><b>Caesars Placed Similar Restriction on Showboat<\/b><\/h2>\n<p>Trump Entertainment is not the first operator to make such a move since the PILOT program was first proposed.<\/p>\n<p><a href=\"https:\/\/www.casino.org\/news\/caesars-entertainment-resumes-deferred-compensation\" target=\"_blank\">Caesars Entertainment<\/a> put a similar deed restriction on the former Showboat Casino before shuttering the property in August 2014, a move that would successfully keep the Showboat out of the PILOT program.<\/p>\n<p>Trump Entertainment is hoping to have the restriction approved by a bankruptcy judge in early July.<\/p>\n<p>This move is unlikely to come as a surprise to officials in New Jersey. When lawmakers released figures detailing what casinos would be required to pay under the PILOT program last December, Trump Plaza was not included in those calculations.<\/p>\n<p>The deed restriction wouldn\u2019t necessarily have to carry over to a new owner, however. Trump Entertainment could waive the fee if a new buyer paid a \u201crelease fee,\u201d though it is unclear how much that fee would be. Trump Entertainment has attempted to sell Trump Plaza for years, with no success.<\/p>\n<p>Casino magnate and Republican presidential candidate Donald Trump no longer actively involves himself in Trump Entertainment Resorts, though he does still own a 10 percent stake in the company.<\/p>\n<p>New Jersey Governor Chris Christie, who has made revitalizing Atlantic City a priority for his administration, is also expected to announce his candidacy for the GOP nomination on Tuesday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump Plaza was one of the four Atlantic City casinos to close down last year, and there are no immediate plans to reopen the facility. But Trump Entertainment Resorts is taking steps to ensure that if the buildings are used again anytime soon, it won\u2019t be as a casino. The company filed for a deed [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":29668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13,18],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump Plaza Could Be Closed to Casino Gaming for 10 Years to Avoid Taxes<\/title>\n<meta name=\"description\" content=\"Trump Entertainment Resorts has filed for a deed restriction that would prevent Trump Plaza from operating as a casino for at least a decade.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump Plaza Could Be Closed to Casino Gaming for 10 Years to Avoid Taxes\" \/>\n<meta property=\"og:description\" content=\"Trump Entertainment Resorts has filed for a deed restriction that would prevent Trump Plaza from operating as a casino for at least a decade.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/trump-plaza-could-be-closed-to-casino-gaming-for-10-years-to-avoid-taxes\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-30T20:30:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-06-30T20:38:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/06\/15869538-mmmain.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"413\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/trump-plaza-could-be-closed-to-casino-gaming-for-10-years-to-avoid-taxes\/\",\"url\":\"https:\/\/www.casino.org\/news\/trump-plaza-could-be-closed-to-casino-gaming-for-10-years-to-avoid-taxes\/\",\"name\":\"Trump Plaza Could Be Closed to Casino Gaming for 10 Years to Avoid Taxes\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/trump-plaza-could-be-closed-to-casino-gaming-for-10-years-to-avoid-taxes\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/trump-plaza-could-be-closed-to-casino-gaming-for-10-years-to-avoid-taxes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/06\/15869538-mmmain.jpg\",\"datePublished\":\"2015-06-30T20:30:37+00:00\",\"dateModified\":\"2015-06-30T20:38:54+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Trump Entertainment Resorts has filed for a deed restriction that would prevent Trump Plaza from operating as a casino for at least a decade.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/trump-plaza-could-be-closed-to-casino-gaming-for-10-years-to-avoid-taxes\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/trump-plaza-could-be-closed-to-casino-gaming-for-10-years-to-avoid-taxes\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/trump-plaza-could-be-closed-to-casino-gaming-for-10-years-to-avoid-taxes\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/06\/15869538-mmmain.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/06\/15869538-mmmain.jpg\",\"width\":620,\"height\":413,\"caption\":\"A deed restriction on Trump Plaza would prevent it from being used as a casino for the next ten years. 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