Reuters - Real estate tycoon Donald Trump has made a bid to buy New Jersey casino operator Trump Entertainment Resorts Inc , which in February logged its third bankruptcy filing, the Wall Street Journal reported on Tuesday.
LOS ANGELES (Reuters) - Real estate tycoon Donald Trump has made a bid to buy New Jersey casino operator Trump Entertainment Resorts Inc , which in February logged its third bankruptcy filing, the Wall Street Journal reported on Tuesday.
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.
ATLANTIC CITY, N.J. — Trump Entertainment Resorts filed for bankruptcy Tuesday and threatened to shut down the Taj Mahal Casino Resort in November.
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.
It’s the fourth such filing for the struggling casino company or its corporate predecessors.