Trump Casino Files For Bankruptcy

Filed in archive Casinos , Gambling General on November 23, 2004

The Trump idea of success - bankrupt casinosGolden haired billionaire Donald Trump maybe used to telling his potential 'apprentices' that 'you're fired' but in the meantime, he needs to use some of that famous business acumen to help him run his own casinos

This week, Trump Casinos and Resorts filed for bankruptcy protection - and apparantly Mr Trump is fairly upbeat about it all despite the group being $1.6 billion in debt.

Trump will remain CEO but his stake will be halved to 25% and he would have to contribute $71 million whilst giving up trademark rights to his name and likeness.

This is the second time the casinos have filed for bankruptcy, the first time being in 1992Maybe he should stick to television