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.
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.
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.
Washington (AFP) - The extraordinary Donald-Trump-for-president roadshow careened into America's deep South Friday, as the abrasive tycoon railed once more against the political establishment but offered little policy substance in a rambling speech at an Alabama rally.
Real-estate tycoon Donald Trump has settled on one go-to insult when it comes to his closest rival in the Republican presidential primary. Almost every recent time Trump addressed former Florida Gov. Jeb Bush (R) on the campaign trail, the businessman attacked Bush as a "low-energy person."
If it seems like it hasn't been even a year since the latest Atlantic City casino, this one with the surreal ads showcasing Revel Atlantic City, opened up, it is because that is exactly the case. Ten months to be precise. And just as quickly as it came, just as quickly did it file for bankruptcy. Moments ago, the company issued a press release that it would engage in a debt-for-equity prepack (with Moelis, K&E and A&M all advising) Chapter 11 which will be completed over the summer.