Trump Entertainment Resorts and Casinos Bankrupt

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Trump Casino Bankrupt

Trump Casino Bankrupt

I was putting together today’s Casino Strategy column and this popped into my news reader. The ever cocky Donald Trump looks like he’s been fired! Trump Entertainment Resorts is filing for Chapter 11 Bankruptcy due “as recession and declining gambling revenues battered the company and its rivals.” (quoted from Reuters).

I’m not going to gloat over The Donald. Clearly the man is far wealthier than I will ever be but it does look strange that all of these lavish brick and mortar casinos are going under and suffering from hard times. It definitely looks like now might be the time to get into online casino games instead of booking a vacation to a casino resort that might not even be there next week.

Our online games are faster, more fun and a heck of alot more comfortable than going to an over hyped resort. The financial news looked grim for Trump and his entertainment group:

“Trump had assets of about $2.1 billion and total debts of about $1.74 billion on December 31, 2008, it said in its filing with the U.S. Bankruptcy Court for the District of New Jersey.

The company, eager to conserve cash, missed a $53.1 million bond interest payment due on Dec 1 as a sharp downturn in consumer spending hit casino revenue, prompting bondholders to push for bankruptcy.”

These guys are the pinnacle of wasting money and bad business. Heck we aren’t as fancy as the Trump Entertainment Group but we definitely payout and even give you a time limited incredible $50 No Deposit Bonus.

Download the Silver Oak Casino Software today, register then enter BLOG50 into the bonus screen to get into the games immediately. Ok my shameless Silver Oak Casino plug is finished!

Back to the Donald. The question I have is, with the economy going down and not looking any better (even with President Obama’s Stimulus Package) is the Donald going tone down his cocky attitude? Yes the guy is successful but he is also a raging idiot alot of the time and way to cocky for anyone to really enjoy the company of this guy.

What do you think? Is Donald Trump going to crash and burn? Will he just quiet down a bit? Will Donald Trump himself go bankrupt and not just one of his companies?

Comment below and let us know what you think!

  • Jeff

    I heard that even though the Don decided to step off the board (or was booted off of it), him writing off his stake in these casinos is less than 1% of his net worth. When you can cut a casino empire loose and not feel it in your wallet, it doesn’t matter how much of a jackass you are… just buy some friends.

    If this is only 1% of his money, does anyone know where the biggest chunk of his cash is coming from?

  • Joe

    Crap – if Trump’s casinos are going out of business, you know there’s definite trouble!
    Online casinos are definitely the way to go – but then again, I already thought they were.

  • Reggie Breese

    I saw that article about Trump as well saying it was less than 1% – apparently the rest comes from his real estate holdings. But seriously in this market I think he might be spinning things.

  • Jessica

    This isn’t the first time he’s filed for bankruptcy. Every time there’s a real estate slide, he declares bankruptcy to protect the majority of his holdings.

    I personally prefer the online casinos. At least you know that your drinks aren’t being watered down, the buffet has hasn’t been warmed over from yesterday and the machines haven’t been tampered just to save the casino a couple bucks.

    Online casinos rule! :-)