Trump Entertainment Resorts Inc. filed for Chapter 11 bankruptcy on Tuesday in Delaware.
The Philadelphia Inquirer noted that the company, which was previously owned by Donald Trump, filed for bankruptcy just before it is set to close Trump Plaza Hotel and Casino in Atlantic City.
This marks the third time the company has filed for bankruptcy.
In July, it was reported that Trump Entertainment expected to close Trump Plaza in mid-September, however, the new filing also means that the company’s Taj Mahal casino may close in November.
The news is devastating to the gambling town which has already lost three casinos this year, along with thousands of jobs. The loss of the Taj Mahal would cost 2,800 more jobs.
Once a gambling mecca, Atlantic City has been reeling in recent years due to an unstable economy and the competition of regional casinos.
If both Trump Plaza and Taj Mahal close this year as expected, the city dubbed as "America’s Playground" will only have seven casinos left.