Posted on 07/27/2015 7:44:33 AM PDT by Ge0ffrey
Trump Entertainment Resorts filed for bankruptcy Tuesday and threatened to shut down the Taj Mahal Casino Resort, which would make it the fifth casino to close this year.
The company owns Trump Plaza, which is closing in a week, and the Taj Mahal, which has been experiencing cash-flow problems and had been trying to stave off a default with its lenders. The company said the Taj Mahal could close Nov. 13.
It's the fourth such filing for the struggling casino company or its corporate predecessors.
The company filed in U.S. Bankruptcy Court in Wilmington, Delaware, saying it has liabilities of between $100 million and $500 million, and assets of no more than $50,000. It missed its quarterly tax payment due last month, and says it doesn't have the cash to make an interest payment to lenders due at the end of the month.
[Something to ponder. He promotes gambling. He left the Republican party to register as a Democrat. He supports national health care. He was pro abortion until very recently. He's starting to hedge on immigration. How many times has he been married? Adulterous affairs? Are you sure he's a conservative?]
(Excerpt) Read more at nydailynews.com ...
IIRC Trump no longer had any connection to that Casino.
Private businesses, owned by private citizens, are subject to market realities and must cover their costs to remain viable—Unlike the government which can print money and issue unsecured debt.
So Trump can make people gamble. It appears that they overbuilt.
Well I guess its probably time for this site to begin its MAD it goes through in the Presidential Primaries...may as well get it out of the way now.
Reagan was once a Dem, pro-choice, and married a few times...
Does this somehow mean the issues Donald Trump brings up, such as illegal immigration, should not be discussed?
Or are you just looking for an excuse to shoot the messenger?
Old news. All the casino was using was his name.
So, I guess that disquals him from running then. Case closed. LOL! I’m kinda enjoying watching the gopE squirm. Still, most of them won’t address the subjects that are on fly-over staters minds. Cowards.
By the time Reagan ran for president, those issues were well settled, and not in dispute. When Trump left the Republican party, why did he register as a Democrat? Why not as an independent? Because he knew which side his bread was going to be buttered? When is the conservative press going to vet him and ask these questions?
Be fair back then, I was politically all over the map. I’d hate to think about what would come up if I wrote about my political leanings at that particular time.
If you’ve opened a casino in New Jersey, you’re in league with New Jersey government every step of the way. Casino gambling is not a free market, but very strictly regulated.
I’m not a gop-e, and I’m not a coward. I dare to challenge YOUR conservative creds. I don’t care whether or not Trump is a Republican, I care whether he is a conservative.
I think when it comes to Trump I’ve been fair with him far more fair than he would be with me either in politics, business, or anything else.
Here’s something to ponder...he dumps things that don’t make money and invests in things that do. (And has accumulated 10 billion dollars, a success!) Wait till you see what he does with food stamps and general welfare. Lazy people are going to either get off their butts and be productive or starve!
Originally, Atlantic City was to be the "East Coast" Las Vegas, for gamblers who did not want to travel across the country or wanted to do a weekend trip local. Had Atlantic City been able to maintain a monopoly on East Coast gaming, they would have survived.
Casino gambling does not have the stigma it used to have. It's quite a mainstream thing now. Also, the demographics have changed radically. I remember years ago, the casinos were classier places, where you felt out of place without a sports jacket. Now you got people waddling around with fanny packs, ball caps and discount store clothing. You might as well be at the mall.
For me, the casino is like an adult Disneyland. Especially in Vegas. When my kids were young, I would easily drop a few thousand dollars to take them to Disneyland, only to stand in long lines half the day in the hot sun and be surrounded by thousands of fussing and misbehaving kids.
Now that the kids are grown up, I take that money and go Las Vegas and have a much better time.
He’s only been divorced and married one more time than Reagan.
Nice try, Daily News! Trump divested his holdings in Joisey long ago. Aa an astute businessman he saw this situation developing away down the road. The surrounding states’ all getting into state-run gaming knocked the props from under Atlantic City. Trump saw it coming.
I also cite the closing monologue from the movie “Casino”....
The town will never be the same. After the Tangiers, the big corporations took it all over. Today it looks like Disneyland. And while the kids play cardboard pirates, Mommy and Daddy drop the house payments and Junior’s college money on the poker slots. In the old days, dealers knew your name, what you drank, what you played. Today, it’s like checkin’ into an airport. And if you order room service, you’re lucky if you get it by Thursday. Today, it’s all gone. You get a whale show up with four million in a suitcase, and some twenty-five-year-old hotel school kid is gonna want his Social Security Number. After the Teamsters got knocked out of the box, the corporations tore down practically every one of the old casinos. And where did the money come from to rebuild the pyramids? Junk bonds.
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