Donald Trump may save 2 Atlantic City casinos

Trump Entertainment has filed for bankruptcy, but the real estate mogul says he's giving the businesses another look.

By MSN Money Partner Tue 12:50 PM
Credit: © Donna Ward/Getty Images
Caption: Donald Trump leaves 'The Late Show with David Letterman' at Ed Sullivan Theater on October 25, 2012By Colin Campbell, Business Insider

Real estate mogul Donald Trump (pictured) says he may start investing in the embattled Atlantic City, New Jersey, casino and hotel industry again.


The television personality's name graces the Trump Taj Mahal and Trump Plaza, owned by Trump Entertainment Resorts, Inc., but he left the company in 2009. 


The city's resort industry has since been plagued by financial difficulties.


Trump Entertainment filed for bankruptcy a week ago, saying that "absent significant expense reductions, the Trump Taj Mahal is expected to close on or shortly after Nov. 13." But Trump signaled Tuesday morning that he is looking at giving the casinos a boost.


"I left Atlantic City years ago, good timing. Now I may buy back in, at much lower price, to save Plaza & Taj. They were run badly by funds!" Trump exclaimed on Twitter. "It is so sad to see what has happened to Atlantic City. So many bad decisions by the pols over the years -- airport, convention center, etc."


Trump, who is often accused of publicity stunts, has previously assailed the local Atlantic City political establishment for some of the beachfront resort's struggles, including an allegedly flawed convention center.


"A lot of people say when I left that's when it went bad," Trump said of Atlantic City in August. "In one way I'm honored by that statement. But in another way, I feel badly about Atlantic City."


Philadelphia magazine first reported Trump's potential interest in rescuing the casinos.


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44Comments
Tue 2:50 PM
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Atlantic City has no one to blame but themselves for all their problems.  First of all Atlantic City did nothing to the area for over 20 years to clean up the giant dump that it is,  where you were afraid to walk 1 block away from the Casinos. The surrounding area was dilapidated & falling into shambles.  Just recently some Oultlets have opened & they cleaned it up a little but way too late when surrounding NY & PENN have also opened Casinos.  Furthermore, the average worker works Monday-Friday so they might plan a weekend getaway to AC but then the Casinos raise their nightly rates to $300 or more & also the table minimums jump to $25 mins. pretty much scaring away many people.  By the way, they have the Atlantic Ocean 100ft from the boardwalk & the Marketing geniuses never figured out a way to link the beach, families, gamblers and reasonable rates all together to draw business.  I guess in their eyes it is better to have the Casinos filled to 1/8th capacity with high hotel rates & table minimums than it would be to probably sell out every weekend at a cheaper rate & lower minimums in the Casino.  RIP because it is much too late to salvage anything.
Tue 2:07 PM
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Is he joking?, he didn't leave, he was booted out because his casinos weren't making money and the creditors Took it away from him.
Tue 1:39 PM
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The only meaningful things Mr. Trump can do for the world are two: Shut his piehole, and get a decent rug.
Tue 3:08 PM
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In order for AC to start making money again, you'd need to clean up the Boardwalk and everything around it. Why would I want to go to craphole AC, when I can go to Mohegan or Foxwoods (much cleaner) and now Empire in NYers backyard...Not to mention the Poconos getting their fair share of the market too?

It's too tall a task to revamp. You'd have to displace thousands of homeless people. It's over Johnny!

You can also get to Vegas for a few extra $$$

Tue 1:19 PM
Tue 1:41 PM
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Just make gambling legal in all states and allow businesses to set up online gambling centers. The issue is that most states run lotteries and dont want competition from private businesses. Gambling, like investing or life in general is all about risk vs reward and just because some people suck at risk vs reward analysis does not mean the rest of us should not be able to play.
Tue 1:44 PM
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The best part about Donald Trump is that he can't stand liberals, but then neither can half of America...  
Tue 2:28 PM
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Hey Donald ,go to Russia and screw with them
Tue 2:25 PM
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the best idea I ever heard from old Donald is for Obama to step down and Obama can have a free life time membership at any and all of old Donald's golf courses  
Tue 3:40 PM
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I think this will make the third or fourth time Trump has filed for bankruptcy and kept his wealth. I'm beginning to think this is a game he's playing. Suck all the money out of his businesses, put it all in an offshore account or anywhere else really, and file for bankruptcy. It's all legal. I don't think he pays his employees a living wage either. They also changed the Bankruptcy Laws to make it harder on and individual to file bankruptcy and made it easier for a Corporation to do it. That's why Corporations are created. It protects the owners personal assets and other corporate holdings plus they pay a lower percentage of taxes if any at all. Look at a Corporate tax form sometime and look at the slew of deductions they can take compared to an individual. It's called the cost of doing business. When it comes to the individual, we just get the screws tightened. Then these Corporations have the audacity to make things overseas and create call centers, instead of having American's do the job. Corporations are people? Well apparently, the jokes on US!
Tue 3:51 PM
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This man files Bankruptcy too much! The Bankruptcy Court should not allow him to shut them down. This is game he plays to become richer. 
Tue 3:15 PM
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Are the prostitutes (whores) slashing their prices or signing up for unemployment benefits?
Tue 2:54 PM
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Geez....can "Raccoon Top" spin it. The dude has never failed at anything.
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Make them rooms low income housing. Where else can a mother and daughter from Canada both get stabbed to death in broad daylight. Where else can you get robbed in the casino elevator. A father  dropped his family off at the front door of the Taj Mahal was robbed and killed in the parking garage and found else where. Also a copule was carjacked in the Taj Mahal. the boyfriend was shot and killed girlfriend wounded by 3 thugs .Where else can you be in a push cart on the boardwalk and get robbed. ATLANTIC CITY IS REALLY EAST PHILADELPHIA

Tue 3:57 PM
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Look up Jack **** in the dictionary and you will see a picture of the bloated Oompa Loompa known as Donald Trump.
Tue 3:45 PM
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I say suck it up and use his own money to payoff the hotels debt!!!! Take it in the shorts like a regular person trying to survive has to!
Tue 4:00 PM
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Look at that mug!  Looks like he's been constipated for a month.
Tue 3:06 PM
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Bankruptcy? After getting federal money to fix them after the hurricane? He complains about the stem but sure uses it to his advantage. Bankruptcy Laws were created only to protect Corporation owners like him. Gives him immunity. He get's to keep all his own money and all his workers get the shaft. Anyone that listen's to this man, he will lead you down the road to hell. 
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