One of the sectors worst hit by the crisis might be the entertainment industry. And one of the first victims may well be billionaire Donald Trump.
The owner of three casinos in Atlantic City must pay a $ 53.1 million debt no later than January 21 or he will have to file for bankruptcy. The three casinos that are endangered include Trump Taj Mahal, Trump Marina and Trump Plaza.
Rising competition coming from New York and Pennsylvania as well as the economic downturn have led to a sharp decline in revenues from Atlantic City casinos. The first eleven months of 2008 showed income fell 6.7% down which means this is the second annual drop in a row after 28 years of growth.