Trump Entertainment Resorts Trading at Lowest Levels Ever

At today's close, Trump Entertainment Resorts (NYSE: TRMP) dropped to its lowest levels in over 10 years as more bad financial news was announced by the casino company.

The company disclosed Friday they would miss today's $53 million dollar interest payment in order to maintain sufficient liquidity to operate their casino gaming businesses.

Their stock closed today down nearly 20% to end the day at $.25 cents per share, a discounted-price investors have never seen with Trump.

Back in 2006, the stock traded as high as $25 per share, but those days seems like ancient history for shareholders of Trump Entertainment Resorts.

As you know, the company owns and operates major hotel and casino resorts in Atlantic City, New Jersey. Donald Trump is still the Chairman of the Board, overseeing three straight years of negative profit (2008, 2007, 2006).

"Right now, the company is in the process of mass-restructuring, they are down and out, but it is not over yet", says Gerald Bernstein, investment analyst from Philadelphia.

"Never count out Mr. Trump", he went on to say.

The casino gaming industry has been hit especially hard during these tough economic times. Casinos in Las Vegas, Atlantic City, and Macao have been hit the hardest.

December 2, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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