Trump Entertainment files for bankruptcy

Reuters ^ | 02/17/09 | Kyle Peterson

[TigerLikesRooster]

Trump Entertainment files for bankruptcy

By Kyle Peterson

CHICAGO (Reuters) – Trump Entertainment Resorts Inc, the casino operator named for Donald Trump, filed for bankruptcy protection on Tuesday as recession and declining gambling revenues battered the company and its rivals.

The Chapter 11 filing marks the third plunge into bankruptcy for the company, which was created out of a restructuring in 2005. It also underscores the struggles facing the casino business as recession squeezes casino gambling.

Trump Entertainment owns and operates three casino hotels in Atlantic City, New Jersey, including the Trump Taj Mahal, Trump Plaza and Trump Marina.

The company did not request debtor-in-possession financing to operate during its restructuring and said it would continue to run as normal.

[TigerLikesRooster]

Ping!

[BGHater]

Who Dares Wins.

Fail, try again.

[wardaddy]

I wish I* was big enough to not be allowed to fail.

[arderkrag]

The Chapter 11 filing marks the third plunge into bankruptcy for the company, which was created out of a restructuring in 2005.

What, they didn't learn the first time? it's times like this I'm reminded of the definition of insanity.

[PGalt]

I guess they’ll now save a bunch of money on their con-game by switching to Geithner.

[MediaMole]

The clock is ticking for Harrahs’ bankruptcy filing.

[Virginia Ridgerunner]

Trump’s always been an overrated self-aggrandizer...he’s practically made his fortune through repeated bankruptcies.

[eclecticEel]

third plunge into bankruptcy for the company, which was created out of a restructuring in 2005

Three bankruptcies in four years?

[LottieDah]

I’m not surprised. The Trump casinos at Atlantic City are awful. Most of the ladies restrooms are filthy. The buffet is horrid and the the slot machines take your money and seldom payout. The last time I went to AC was 2 yrs. ago. I put $2.00 in the snack machine and the snacks didn’t come out. It was an omen on how my outing at Trump’s was going to be. I lost and haven’t gone back since.

[TigerLikesRooster]

On the other hand, that will allow him to score all supermodels he wants. Carla Bruni, aka Mrs. Sarkozy included.

[oldbill]

Is Donald still giving classes on how to get rich?
Truth be known, Donald’s real secret to being rich is to come out of a rich woman’s womb and start life out with a $40,000,000 wad and family friends with big checkbooks.

[keepitreal]

3 bankruptcies.

Will this stop him from getting on TV and calling George Bush the biggest loser ever to have graced the planet?

[PBRSTREETGANG]

Donald....you’re fired!

[TigerLikesRooster]

All you have to do is to lock him up inside Playboy Mansion along with Hugh Heffner, and you will never see him again.:-)

[NonValueAdded]

Can’t keep up with the Indians, eh?

[RC2]

He has done this before. I believe that each of his holdings is a seperate company. If one fails, it may not effect the others. Smart move.

[1curiousmind]

I went there about 10 years ago. All I can remember is the drive from the highway to the casino gave me the creeps like I’ve never felt before. Somethin’s not right in that town.

[adorno]

Trump’s always been an overrated self-aggrandizer...he’s practically made his fortune through repeated bankruptcies.

It's no wonder then, with his lack of good business judgment, that Trump said last week that Obama was off to a good start after it was announced that the porkulus bill had passed in the senate.

And this man has the gull to "instruct" people around America and the world with his "apprentice" series. Yuck!

[acoulterfan]

“The clock is ticking for Harrahs’ bankruptcy filing.”

Isn’t a large Porkulus earmark for some sort of bullet train from LA to Vegas pushed by Sen Reid? With strict rules about counting cards and the economy LV could really be hurting now and they need new bodies to come and play there.

What is the Pork Train called?