How Donald Trump Bankrupted on His Casino but Still Earned Millions

Img: www.NYTimes.com

During the course of a decade, while other casinos that were located in the Atlantic City area thrived, Donald’s Casino lagged.

The Trump Plaza Hotel and Casino is at this time closed, its windows are now covered over with sea salt.  Only a very faint outline of the golden letters that once spelt out T-R-U-M-P remains evident on the outside of what was this city’s premier casino.

At a very short distance away, The Trump Marina Casino and Hotel was sold at a very large loss about five years ago and now to many is known as the Golden Nugget.

At the almost deserted eastern end of the Boardwalk stands the Trump Mahal that is another one that is now under new ownership.  It was the last of the casino empire that Donald Trump assembled here over a quarter of a century ago.  The carpets that are frayed as well as the dust coated chandeliers that are dangling from the ceiling show that amount of neglect over the years.

But even though his companies were doing so poorly, Trump himself did quite well.  He invested a very little bit of his own money, as well as shifted many personal debts to the casinos as he collected millions of dollars in salary, bonuses as well as other payments.  The burden of his failures ultimately fell upon the investors and others who had put it on the line and bet on Trump’s business shrewdness.

In the early 2009, as the Trump casinos lurched towards bankruptcy for the fourth time.  Trump offered to buy all or even a part of the casino company that was bearing his name, at this time he was refused and he quit the board very soon after this.