Donald Trump's Atlantic City history

AP News
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Posted: Sep 16, 2014 8:45 PM
Donald Trump's Atlantic City history

ATLANTIC CITY, N.J. (AP) — One Atlantic City casino bearing Donald Trump's name closed Tuesday and another is threatening to close in November, but Trump himself has mostly cut ties with the struggling seaside resort.

Trump told The Associated Press on Tuesday that he will "take a good strong look" at buying back control of Trump Entertainment Resorts, which declared bankruptcy this month. Trump only owns 9 percent of the company.

"I got out years ago, the timing was good, but I feel really badly about the people. I will be taking a very serious look," he said, adding that the decision will come down to price.

PUTTING HIS NAME ON THE BOARDWALK

—When Trump Plaza opened on May 14, 1984, in the middle of the Atlantic City boardwalk, Donald Trump called it the finest building in Atlantic City, and possibly the nation. He opened Trump's Castle, later Trump Marina, in the city's marina district in 1985 and opened the $1 billion Trump Taj Mahal in 1991.

BANKRUPTCIES

—The casinos went through bankruptcies in 1991, 1992, 2004 and 2009. Trump lost majority control of the company in 2004 and left his position as chairman in 2009. Trump Marina was sold in 2011.

TAKING HIS NAME OFF THE BOARDWALK

—Donald Trump sued Trump Entertainment Resorts last month and demanded that they remove his name from the two casinos. "I've been away from Atlantic City for many years. People think we operate (the company), and we don't. It's not us. It's not me," Trump said.

TRUMP'S RETURN?

—"I left Atlantic City years ago, good timing. Now I may buy back in, at much lower price, to save Plaza & Taj. They were run badly by funds!" read a message on Trump's official Twitter account Tuesday. "It is so sad to see what has happened to Atlantic City. So many bad decisions by the pols over the years — airport, convention center, etc."

Trump said in an interview with The Associated Press that a potential purchase would come as part of the bankruptcy process. He also said that the state needs to change how it taxes the casinos.