4 Facts About Donald Trump’s Casinos

facts about donald trump's casinos bankruptcy

By Contributor Harish Chandra

Donald Trump. Wharton School graduate, real estate legend, producer and host of The Apprentice, 45th president of the United States, reality TV star, casino boss and all-round entrepreneur. The man sure does have a lot of titles under his belt, that much is for sure. 

Many people get caught up in his scandals, Twitter rants, questionable ethics and the way in which he governs over the nation he was elected to. Few people focus on his casinos, and maybe they’re right not to. 

Here are four fun—or at least interesting—facts about Trump’s casinos. 

1. Trump’s First Casino Was A Holiday Inn Casino 

In the 1980s, Trump was bitten by the casino bug and had big plans to open up his own string of establishments that would dominate the Atlantic City boardwalk. In 1982 he obtained his casino license from the CCC and two years later he had built a Holiday Inn Casino on behalf of Mike Rose. 

Two years after that, he had purchased all of Holiday Inn’s shares for a cool $70 million and renamed it the Trump Plaza Hotel and Casino. The establishment experienced great success, but it was sadly short-lived. Fast forward to September 16, 2014 and the Trump Plaza Hotel and Casino shut its doors for good, leaving 1,300 employees high & dry. 

2. Trump’s Best Form of Advertising? Himself! 

Love him or hate him, you can’t deny that the Trump name holds an enormous amount of power. This is something that Trump realized early on in his casino days and he sure cashed in on this fact. 

Trump was often spotted in his casinos and was known to stop and chat to visitors which added to the appeal of visiting his establishments. 

But he didn’t just spend time at his casinos alone. In true Trump fashion, his companions were usually rich and famous. Celebrity guests that enjoyed the facilities provided by Trump casinos were those of the likes of Michael Jackson. 

3. Trump Currently Owns A Single Casino 

At the time of writing, just one casino remains on Trump Entertainment Resorts’ books: Trump Plaza Hotel and Casino. This casino is shuttered, vacant and has fallen into a total state of disrepair. Trump tried and failed to have his name and branding removed from the property due to its state. 

Which brings us to the state of the rest of Trump’s casinos. It’s no secret that casinos featuring the Trump branding have not done well for themselves. Here’s the lowdown on some of Trump’s most notable casinos: 

- Trump Taj Mahal:  Was bankrupted twice—but more on that soon—and closed down in 2016. It was purchased by Hard Rock International a few months later. In 2018, it reopened as the Hard Rock Hotel & Casino Atlantic City. 

- Trump World’s Fair:  Trump purchased it in 1989 and renamed it Trump Regency. He then sold it in 1992 and proceeded to buy it back in 1995. By 1996 he had renamed it to Trump World’s Fair but it closed down for good in 1999. It was demolished in 2000 and the land was purchased by the Toll Brothers. 

- Trump’s Castle:  Opened in 1985, this was renamed to Trump Marina in 1997 and was purchased by Landry’s Inc in 2011. Landry’s Inc renamed it the Golden Nugget Atlantic City and expanded the venture to include online gambling. Today it earns more revenue than any other New Jersey-based online casino. 

4. The Trump Taj Mahal Casino Sold For 4 Cents On The Dollar 

Have you ever wondered how it’s possible to bankrupt a casino not once, but twice? The story of the rise and fall of the Trump Taj Mahal Casino will tell you just how that is done. 

This pill must have been a hard one for Mister Trump to swallow. Back in 1990, Trump bought the hotel for $50 000 000 and put a further $1.2 billion into its reconstruction & refurbishment. 

By 2009, the casino was officially declared bankrupt and both Donald Trump and his daughter Ivanka Trump resigned from the board. After a long and complicated bankruptcy proceeding, the casino was declared bankrupt once again in 2015. 

Final Thoughts On Trump's Casinos

With people like Donald Trump opening, operating and effectively running casinos into the ground it’s easy to see why the shift from traditional casinos to online casinos is taking place with such aplomb. 

Save yourself the heartache of your favorite casino shutting down and opt instead to play in one of the top online casinos in Canada today. 

What do you think of the four fun facts about Trump’s casinos that we’ve shared with you today? Sound off on Twitter #BootstrapBusiness @BootstrapsBiz

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