πŸ’ Donald Trump sues to strip his name from NJ casinos in 'disrepair' - Reuters

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The real estate baron has sued to have his name taken off two casinos, the Trump Plaza and the Trump Taj Mahal. "I want it off both of them,".


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Trump sues to get name off casinos

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In , Trump sued the manufacturers of a helicopter that crashed in , killing three executives of his New Jersey hotel casino business. The helicopter fell.


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Why is Donald Trump suing The NY Times over an opinion article?

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In , Richard Nixon's Department of Justice sued the Trump family In a tell-​all book, former president of the Trump Plaza Casino John.


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Trump Casinos File for Bankruptcy

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ATLANTIC CITY, New Jersey (AP) β€” Donald Trump, who presided over a casino empire in the glory days of Atlantic City, filed a lawsuit on.


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New Lawsuit Against Trump Over His Businesses

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The real estate baron has sued to have his name taken off two casinos, the Trump Plaza and the Trump Taj Mahal. "I want it off both of them,".


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U.S. President Donald Trump preparing to sue China over worldwide damages due to Coronavirus

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The real estate baron has sued to have his name taken off two casinos, the Trump Plaza and the Trump Taj Mahal. "I want it off both of them,".


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Donald Trump files lawsuit, wants name removed from Atlantic City casinos

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Trump's lawsuit, filed in state Superior Court in Atlantic County, seeks a court order directing Trump Entertainment Resorts to immediately cure.


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Donald Trump Crapped Out in the Casino Business - Fortune

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Donald Trump once secretly approved an ad campaign insinuating that an American Indian tribe threatening his casinos had ties to drugs and.


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In , Richard Nixon's Department of Justice sued the Trump family In a tell-​all book, former president of the Trump Plaza Casino John.


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Trump's gamble: A failed bet in Atlantic City

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Donald Trump once secretly approved an ad campaign insinuating that an American Indian tribe threatening his casinos had ties to drugs and.


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Trump Wants To Buy Trump Casinos - Bloomberg

Trump Plaza came first. More than half of the new money went to pay off Mr. On the presidential campaign trail, Mr. And he never was able to draw in enough gamblers to support all of the borrowing. Trump retaliated, demanding that Janney Montgomery Scott fire Mr. The burden of his failures fell on investors and others who had bet on his business acumen. His agreements with lenders and the two casino bankruptcies in those years still left Mr. He repeatedly emphasized that what really mattered about his time in Atlantic City was that he had made a lot of money there. Becoming a public company burdened Mr. Next Mr. But even as his companies did poorly, Mr. The Taj was underfunded. Trump shifted ownership of the Plaza casino to a new, publicly traded company: Trump Hotels and Casino Resorts. The Castle was also late. It did. The younger Mr. In a remarkably short time, Mr. From the start, the partners were at odds over its marketing and whose name should be paramount. Less than two weeks before the casino opened, Marvin B. During his financial pinch two years earlier, Chemical Bank had forced Mr. But Mr. All the while, Mr. Then, in June , with the risk of being forced into bankruptcy just weeks away, Mr. He said he abhorred junk bonds, which were then popular, because they carried a bigger risk of default and thus came with higher interest rates. Trump took the Taj into bankruptcy. Instead, the casino company lent him the money to pay back the bankers. Trump received copious amounts for himself, with the help of a compliant board. Trump said in an interview in May, summing up his year history here. It took three years to recover any money owed for his work on the casino, she said, and her father received only 30 cents on the dollar. In the end, Mr. By December , when Mr. Then Mr. Trump had trouble making the debt payments on the Taj and his other casinos. Trump to give up his ownership of the Trump Regency, a hotel next to the Trump Plaza. He later settled the suit. He put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments. In recent interviews, Mr. Trump credit for turning things around. Just over a year after it opened, the Taj Mahal was in bankruptcy court, followed in by both the Plaza and the Castle. Trump ceded to the lenders a 50 percent stake in the businesses in return for lower interest rates. Trump has said that with each financing he routinely took money out of the casinos to invest in Manhattan real estate. His casino companies made four trips to bankruptcy court, each time persuading bondholders to accept less money rather than be wiped out. Trump now says he looks back on the period as his golden era in the casino business. There are those here who fondly remember Mr. At the nearly deserted eastern end of the boardwalk, the Trump Taj Mahal, now under new ownership, is all that remains of the casino empire Donald J. The new company exercised that option, in effect transferring Mr. The lenders agreed to defer certain principal and interest payments and hold off on personal claims against Mr. Trump to president of the Taj five days after it opened, in a recent interview. Trump, the largest shareholder and chairman of the board, could generally meet that obligation by obtaining approval from his board of directors and disclosing financial details in securities filings. Trump avoided a second potential crisis by taking his casinos public and shifting the risk to stockholders. Trump for an undisclosed sum. Griffin got the company, while Mr. In the early s, Mr. Almost immediately, Mr. Trump did well. Trump gained control of a prime spot on the boardwalk. Trump had gotten fired, giving Mr. Butera, the president of Mr. After buying a controlling interest in Resorts from the estate of its founder, Mr. Donald Trump has said that his brushes with financial disaster in the early s reminded him of a lesson his father had taught him: Do not leave yourself on the hook for loans. Trump, the presumptive Republican nominee, often boasts of his success in Atlantic City, of how he outwitted the Wall Street firms that financed his casinos and rode the value of his name to riches. All were hurt, recalled Mr. But the companies repeatedly added more expensive debt and returned to the court for protection from lenders. A central argument of his candidacy is that he would bring the same business prowess to the Oval Office, doing for America what he did for his companies. Trump won the still-unfinished Taj Mahal.

Not far away, the long-failing Trump Marina Hotel Casino was sold at a major loss five years ago and is now known as the Golden Nugget.

Trump assembled his casino empire by borrowing money at such high interest rates β€” after telling regulators he would not β€” that the businesses had almost no chance to succeed.

Trump acknowledged in general terms that high debt and lagging revenues had plagued his casinos. As all of his ventures neared collapseMr. After more than tripling as new casinos opened through the s, gambling revenues in Atlantic City flattened inrising by just 1.

The Taj Mahal missed its November debt payment. Trump suing casino battled the talk show host Merv Griffin for control of the company. He dealt with that danger by first shifting much of his personal debt onto his casinos, then onto a new group: shareholders. Trump suing casino for five years.

But there was little or no reduction in the enormous debts that would plague his gambling empire far into trump suing casino future. Trump assembled here more than a quarter-century ago. During a decade when other casinos here thrivedMr.

In the plan that was worked out, Mr. But a close examination of regulatory reviews, court records trump suing casino security filings by The New York Times leaves little doubt that Mr. Beth Rosser of West Chester, Pa.

The record, however, shows that please click for source struggled to hang on to his casinos years after the city had peaked, and failed only because his investors no longer wanted him in a management role.

Years of neglect show: The carpets are frayed and dust-coated chandeliers dangle above the few customers there to play the penny slot machines.

After narrowly escaping financial ruin in the early s by delaying payments on his debts, Mr. Trump had become a commanding figure in Atlantic City, with his casinos accounting for nearly a third of its gambling revenues and employing more than 8, people. At the same time, Mr. A shareholder sued, accusing the board of directors of breaching its fiduciary responsibility.

Steven Norton, a casino consultant and a former casino executive at Resorts International. Bucky Howard, who was promoted by Mr. Roffman, the analyst whom Mr. Another crucial deadline came in A default would have made him lose control of the company. In three interviews with The Times since late April, Mr. Perskie, the casino regulator, but none were in the catastrophic financial shape of Mr. In one instance, The Times found, Mr. Trump personally owed to two banks. It was April , and Mr. Rosser, who runs Triad today. Trump told the commission in that he could rein in expenses, because conventional lenders were lining up to give him money at low interest rates. Trump now says that he left Atlantic City at the perfect time.