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Trump Entertainment Resorts - Wikipedia
Most people think that owning casinos is like having a license to print money. Read what Adolph did to 4 casinos:
Trump Entertainment Resorts
From Wikipedia, the free encyclopedia
Financial troubles
Trump Entertainment Resorts and its predecessors have filed for Chapter 11 bankruptcy protection four times, in 1991, following construction of the $1-billion Trump Taj Mahal, and in 2004, 2009 and 2014.In 2004, Trump Hotels & Casino Resorts explored various options for restructuring its debt, amid speculation that it might file for bankruptcy. A possible arrangement with Credit Suisse First Boston was not completed because the bondholders rejected it.
On November 21, the company filed for bankruptcy.
After the 2004 bankruptcy, Trump Hotels & Casino Resorts changed its name to Trump Entertainment Resorts (TER), and Trump ceased to play an active role in the company.
In 2005, the company's involvement in the Spotlight 29 Casino ended, as the tribe bought out the casino management agreement for $6 million.
2009 bankruptcy and restructuring
The casino group filed for bankruptcy again in February 2009, owing $1.2 billion.Post-2009 bankruptcy
In early August 2014, Donald Trump filed a lawsuit demanding removal of his name from the company's two casinos, because they had allegedly been allowed to fall into disrepair, in breach of the licensing agreement for Trump's name.2014 bankruptcy
In September 2014, Trump Entertainment Resorts filed again for bankruptcy, and closed the Trump Plaza.
Entrance to the Trump Taj Mahal at night, Atlantic City, New JerseyFolding of the company
On October 10, 2016, the Trump Taj Mahal, the company's last operating property, closed for the final time. Trump Entertainment continued to operate to deal with the transfer of some points on the Trump One card account. All of the websites related to the company were redirected to DonaldJTrump.com.Trump Plaza remained vacant after the company had gone defunct
The building was declared a hazard by the city in March 2020;demolition began that summer, and the main hotel tower was imploded on February 17, 2021.A charity auction benefited the Boys and Girls Club, with most of the money coming from Icahn after he objected to the original plan to auction off the right to press the demolition button.
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Trump ruined 4 casinos in AC, mainly because he put his inexperienced cronies in charge of operating them. These were men with no casino experience. Like his crony Kash Patel, who he plans to put in charge of the Pentagon, he is just another incompetent to do Adolph's bidding.
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