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Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions

Discussion in 'Casino Industry Discussion' started by GourdFollower, Jun 12, 2016.

    Jun 12, 2016
  1. GourdFollower

    GourdFollower Meister Minion Manager Staff Member CAG MM

    Gourd Follower.
    I thought this was an interesting article:

    How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions

    On the presidential campaign trail, Mr. 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. 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.

    ... His audacious personality and opulent properties brought attention — and countless players — to Atlantic City as it sought to overtake Las Vegas as the country’s gambling capital. But a close examination of regulatory reviews, court records and security filings by The New York Times leaves little doubt that Mr. Trump’s casino business was a protracted failure.

    ... even as his companies did poorly, Mr. Trump did well. 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. The burden of his failures fell on investors and others who had bet on his business acumen.

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

    Full article here: You must register/login in order to see the link.
    Last edited by a moderator: Jun 13, 2016
    1 person likes this.
  2. Jun 12, 2016
  3. rockycatt

    rockycatt meistercatt

    Donald trump played by the rules ,the laws produced by the politicians law makers and he understood them better than there authors as they say in Rome do as the Romans ,, There are many places on this earth that following the law is a morale degenerate act , ill leave it at that :rolleyes:
    2 people like this.
  4. Jun 13, 2016
  5. nisosbar

    nisosbar Ueber Meister PABnonaccred

    Right here
    Agree, rockycatt. This doesn't bother me - it's likely a story being pushed by Hillary surrogates. I don't really care that people at the top of the food chain fight each other.
    1 person likes this.
  6. Jun 17, 2016
  7. Vicky

    Vicky Dormant account

    gambling, freelance
    Ah, how people like pour the tonnes of dirt on anyone for anything because that anyone just smarter then they are. Who cares how Trump made his money from the casinos in Atlantic city? It was totaly legit and he just played by the rules of the time.

    So, as Otto von Bismarck said:
    "People never lie so much as after a hunt, during a war or before an election"

    I'm done :cool:
    1 person likes this.
  8. Jun 17, 2016
  9. richmcd

    richmcd Experienced Member

    Developmental Editor
    I'm not sure I understand the position repeated a few times in this thread. Why does the legitimacy or legality of his actions matter? Surely what matters is that it establishes a precedent of running things into the ground for personal profit? And yes you can maybe argue that the "people at the top of the food chain" deserved it. But what evidence do you have that Trump wouldn't use the same techniques on the American people as well? I'm sure he promised those casino owners he would "make Atlantic City great again", or some equivalent.

    Look, I don't like the guy, but I can see how you might want to get behind someone like Trump if you could guarantee they were going to be in your corner. But how can you? It seems much more likely that the American people would end up being the casinos in this scenario. And if he screws over the entire country for his own personal ends, I doubt the fact that it was "totally legit" would bring much solace...
    1 person likes this.
  10. Jun 17, 2016
  11. partyhummel

    partyhummel Senior Member mm1

    ex broker
    betty ford clinic

    ooooh. sorry. i have to post my

    <3 trump <3

    i loved his show^^

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