NEW YORK (Reuters) - Real estate tycoon Donald Trump said on Friday he has decided to resign from the board of Trump Entertainment Resorts due to disagreements with bondholders who want the casino group to file for bankruptcy.
When it comes to the slow-motion cataclysm that is Atlantic City, where as we reported recently the Revel Casino recently filed its second and final liquidation bankruptcy, no other name has seen more bankruptcies than Donald Trump. Or rather Trump Entertainment, because nowadays the two are anything but synonymous. In fact, the Donald is so embarrassed of his namesake legacy that a month ago he filed a lawsuit demanding that his name be stripped from the hotels making up the former.
Trump Entertainment Resorts Inc., the casino company founded by Donald Trump, will file for bankruptcy again, according to people with knowledge of the situation, putting a fifth New Jersey casino in danger of closure.
The Atlantic City casino industry implosion continues. Following the second, and final, bankruptcy of AC's "state of the art" Revel Casino a month ago, as well as the shuttering of Atlantic Club hotel Casino and the Showboat hotel casino, the grim corporate reaper has come for one of the most prominent boardwalk casinos of all: Trump Plaza.
ALBANY, N.Y. — New York’s attorney general sued Donald Trump for $40-million Saturday, saying the real estate mogul helped run a phoney “Trump University” that promised to make students rich but instead steered them into expensive and mostly useless seminars, and even failed to deliver promised apprenticeships.
Trump shot back that the Democrat’s lawsuit is false and politically motivated.