Trump Again Ready To Make A Splash Into AC Casino Industry
Donald Trump showed again why when he wants something he gets it. Trump outbid bondholders for the company that bears his name, Trump Entertainment Resorts, and now will once again have control of the company. He vows that the company will once again reach financial prominence.
The deal for Trump Entertainment is not yet complete. A bankruptcy judge must approve the deal, since the company filed for bankruptcy protection in February. Trump agreed to invest $100 million to but the company and take control.
Several casinos in Atlantic City have Trump's name on the building. It will be his job to ensure that the casinos do not continue to falter while the entire industry in AC is sinking. Revenue has been down over ten percent at AC casinos for several months in a row.
Trump's mission will involve making a city and their gaming options relevant again. It will not be an easy task considering the expansion that is taking place in neighboring states to New Jersey.
In recent years, New York, Pennsylvania, and Connecticut have all expanded their casino options. In Connecticut, the two big tribal casinos are actually teaming up to topple Atlantic City.
Foxwoods and Mohegan Sun have partnered on a billboard project through New Jersey, urging gamblers to come north to do their gambling instead of going south to Atlantic City. The campaign has put even more stress on an already hurting AC casino industry.
August 4, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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