Donald Trump Says Goodbye To Casino Gambling Empire

Donald Trump is not use to losing. He has built an empire because he has made many more right decisions than wrong ones. Those decision making skills are what has led the business tycoon to step away from the casino gambling empire that bears his name.

Trump Entertainment Resorts has been battling with bondholders for the better part of two months now. They have been trying to restructure a debt and the two sides have been in negotiations. Trump does not like the direction the negotiations are going, so he is stepping down.

"Based on the fact that I am not involved in the management of Trump Entertainment Resorts and that I strongly disagree with the bondholders' decisions and actions, past and present, with respect to the company, and despite the fact that it currently has the right to use the name Trump for limited purposes, I have decided to resign from the Board of Directors," said Trump in a statement.

It comes as little surprise that Trump has walked away from what seems like a sinking ship. The move might actually be a sign that negotiations between the company and bondholders are moving along.

It had been rumored that one of the stipulations of a deal would be Trump being removed from the Board. The fact that he did it on his own may indicate a deal could be in place.

Trump did acknowledge in his statement that will not be far away from the casino scene in Atlantic City. He hinted that he might be back in the game in the future.

February 14, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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