The Steel Pier, a legendary amusement venue that juts a thousand feet into the Atlantic Ocean off of Atlantic City, New Jersey, will be shuttered within a week or two. Billionaire Donald Trump, who owns it, wants to make more money from the property.

The Steel Pier was known for its amusement rides and entertainment acts, the most famous of which was Rex The Diving Horse, who would belly-flop from a platform into a big tub of water. A series of mysterious fires closed the Pier for most of the 1980s, but it was re-opened in 1993 (sans Rex).

Trump, who owns the Taj Mahal Casino, was apparently moved to act when nearby Caesar's Palace Casino, which owns a neighboring pier, turned it into an upscale shopping mall. Trump reportedly plans to do the same, and perhaps throw in some luxury condos and another casino as well.

Those who want to see a diving horse can travel north to Lake George, New York. There, Lightning, son of Rex, still belly-flops at Magic Forest.

Dec. 2008: Trump's plans were thwarted, and the Steel Pier remains in business as an amusement icon.

[09/17/2006]