ATLANTIC CITY, N.J. (CBSNewYork) — There was word late Thursday that Trump Plaza in Atlantic City may be the latest casino to go out of business.

KYW-TV, CBS 3 in Philadelphia reported New Jersey state Sen. Jim Whelan (D-Northfield) said he was told the casino plans to issue Worker Adjustment and Retraining Notification Act notices.

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The notices say the casino may close in 60 days, KYW reported. WARN Act notices are required under federal law to give workers two months’ notice that their jobs may be terminated or their workplace shut down, KYW explained.

Whelan, a former Atlantic City mayor, said the notices could be issued as soon as Monday, the station reported.

“I’ve been back and forth between being depressed and angry all day,” New Jersey State Senator and former Atlantic City Mayor Jim Whelan said.

Whelan said credible sources have told him that come September unless a buyer steps in or there is some kind of dramatic financial change, Trump Plaza will be shutting down and laying off roughly 1,000 employees, the station reported.

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“I’d love to stand here and tell people – particularly the employees – don’t worry, we’re going to fight, we’re going to save your jobs; this, that and the other. I’d be lying,” he said.

Roger Gros, the publisher of global gaming business magazine, also told KYW he has heard Trump Plaza plans to send out WARN notices and shut down.

Trump Plaza was the worst-performing casino in Atlantic City during the month May, the last month for which figures are available.

Since January, three of the 12 casinos in Atlantic City have already either closed or threatened to do so. The famed Atlantic Club was the first to fold, and last month, Las Vegas-based Caesars Entertainment announced that Showboat Atlantic City Hotel and Casino – one of its four Atlantic City casinos – will be going out of business.

The newest Atlantic City casino, Revel, has filed for bankruptcy twice and could shut its doors next month if it does not find a buyer.

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