Home » VT News » Trump Casinos File for Bankruptcy. Again.

Trump Casinos File for Bankruptcy. Again.

By Chuckmonster on Monday, 22nd November 2004 10:18am
  » filed under Las Vegas  comments: 0

   

PHILADELPHIA (Reuters) - Donald Trump's casino operations filed for bankruptcy Sunday in a long-expected move that would allow the real estate maverick to restructure the company's debt and overhaul its aging casinos.

Trump, the developer who flaunts his brusque business style on "The Apprentice" reality television show, last month clinched a restructuring pact with bondholders that would cut his stake in the company but preserved his role as chairman and chief executive.

Under the voluntary bankruptcy filing, Trump Atlantic City Associates, which is 99 percent owned by Trump Hotels & Casino Resorts Inc., listed $1.3 billion in debt and $1.5 million in assets. It marks the second bankruptcy for Trump's casino empire.



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