"the number of times he’s gone bankrupt; ANO
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Posted On: 01/29/2019 10:35:08 AM
"the number of times he’s gone bankrupt;
ANOTHER POST FULL OF BS!
PRESIDENT TRUMP HAS NEVER GONE BANKRUPT, ONLY FOUR OF HIS CASINO COMPANIES DID ! Overbuilding and allowing Indian tribes to open casinos were major factors.
Trump owned FOUR of the TWELVE casinos that filed for BK.
The Playboy Casino opened in 1981 in Atlantic City. The property struggled from the beginning. It all started with difficulties in obtaining a gaming license. The Playboy name was abandoned due to these issues in 1984. It was re-branded as Atlantis Hotel and Casino. The casino filed for bankruptcy in 1985 and continued to suffer difficulties in its operations. Trump acquired it in 1989.
It was renamed Trump Regency, but without gaming. The casino was relaunched in 1996. This only lasted until 1999, when it was closed due to construction defects that were discovered. It was razed in 2000.
The Sands in Atlantic City opened in 1980 and ceased operations in 2006.
Trump Plaza was the fourth Atlantic City casino to close in 2014.
Trump's Taj Mahal became the Hard Rock and remained open until Oct. 20, 2016.
https://www.worldcasinoindex.com/guide/failed...y-casinos/
Bankruptcy Is Not Synonymous with Failure
Although a corporate bankruptcy filing often indicates that a business is in a perilous financial condition, it doesn’t necessarily sound the death knell for that business.
The provisions of Chapter 11 of the U.S. Bankruptcy Code allow businesses to find ways to reduce their debt and restructure their operations without having to be shut down and liquidated to satisfy debts — instead of closing their doors, businesses can stay open, pay their employees, and take in revenue while developing a budget and a repayment plan for creditors (subject to the approval of the bankruptcy court).
Many of the United States’ largest and most prominent businesses have filed for (and emerged from) Chapter 11 bankruptcy protection one or more times, including General Motors, Charter Communications, Delta Air Lines, Kmart, Macy’s, and the Texas Rangers baseball team.
Donald Trump has certainly enjoyed his fair share of business successes, particularly from Manhattan real estate investments and building projects, along with golf courses, luxury resorts, and building a brand that has seen his name and likeness applied to diverse efforts ranging from reality TV (The Apprentice) to clothing lines to property development.
https://www.snopes.com/news/2016/08/01/donald...kruptcies/
The Trump Plaza Hotel and Casino on Monday, Sept. 15, 2014, in Atlantic City, N.J., was to be closed for business by 6 a.m. Tuesday. It joins the Atlantic Club, the Showboat and Revel, each of which has closed this year.
A damaged letter R and a missing letter E are seen on The Boardwalk sign for the Revel Casino Hotel on Sept. 1, 2014, in Atlantic City, N.J. the day before it closed. The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling played out when the $2.4 billion Revel Casino Hotel emptied its hotel.
Revel opened on April 2, 2012, and after declaring Chapter 11 bankruptcy for the second time, closed on September 2, 2014. Revel was the third of four Atlantic City casinos to close in 2014. Revel was owned by Revel Entertainment Group. On February 19, 2013, Revel announced that it was filing for Chapter 11 bankruptcy.
https://en.wikipedia.org/wiki/Ocean_Resort_Casino
https://en.wikipedia.org/wiki/Ocean_Resort_Casino
ANOTHER POST FULL OF BS!
PRESIDENT TRUMP HAS NEVER GONE BANKRUPT, ONLY FOUR OF HIS CASINO COMPANIES DID ! Overbuilding and allowing Indian tribes to open casinos were major factors.
Trump owned FOUR of the TWELVE casinos that filed for BK.
The Playboy Casino opened in 1981 in Atlantic City. The property struggled from the beginning. It all started with difficulties in obtaining a gaming license. The Playboy name was abandoned due to these issues in 1984. It was re-branded as Atlantis Hotel and Casino. The casino filed for bankruptcy in 1985 and continued to suffer difficulties in its operations. Trump acquired it in 1989.
It was renamed Trump Regency, but without gaming. The casino was relaunched in 1996. This only lasted until 1999, when it was closed due to construction defects that were discovered. It was razed in 2000.
The Sands in Atlantic City opened in 1980 and ceased operations in 2006.
Trump Plaza was the fourth Atlantic City casino to close in 2014.
Trump's Taj Mahal became the Hard Rock and remained open until Oct. 20, 2016.
https://www.worldcasinoindex.com/guide/failed...y-casinos/
Bankruptcy Is Not Synonymous with Failure
Although a corporate bankruptcy filing often indicates that a business is in a perilous financial condition, it doesn’t necessarily sound the death knell for that business.
The provisions of Chapter 11 of the U.S. Bankruptcy Code allow businesses to find ways to reduce their debt and restructure their operations without having to be shut down and liquidated to satisfy debts — instead of closing their doors, businesses can stay open, pay their employees, and take in revenue while developing a budget and a repayment plan for creditors (subject to the approval of the bankruptcy court).
Many of the United States’ largest and most prominent businesses have filed for (and emerged from) Chapter 11 bankruptcy protection one or more times, including General Motors, Charter Communications, Delta Air Lines, Kmart, Macy’s, and the Texas Rangers baseball team.
Donald Trump has certainly enjoyed his fair share of business successes, particularly from Manhattan real estate investments and building projects, along with golf courses, luxury resorts, and building a brand that has seen his name and likeness applied to diverse efforts ranging from reality TV (The Apprentice) to clothing lines to property development.
https://www.snopes.com/news/2016/08/01/donald...kruptcies/
The Trump Plaza Hotel and Casino on Monday, Sept. 15, 2014, in Atlantic City, N.J., was to be closed for business by 6 a.m. Tuesday. It joins the Atlantic Club, the Showboat and Revel, each of which has closed this year.
A damaged letter R and a missing letter E are seen on The Boardwalk sign for the Revel Casino Hotel on Sept. 1, 2014, in Atlantic City, N.J. the day before it closed. The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling played out when the $2.4 billion Revel Casino Hotel emptied its hotel.
Revel opened on April 2, 2012, and after declaring Chapter 11 bankruptcy for the second time, closed on September 2, 2014. Revel was the third of four Atlantic City casinos to close in 2014. Revel was owned by Revel Entertainment Group. On February 19, 2013, Revel announced that it was filing for Chapter 11 bankruptcy.
https://en.wikipedia.org/wiki/Ocean_Resort_Casino
https://en.wikipedia.org/wiki/Ocean_Resort_Casino
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