|
|
|
 |
Trump Resorts Taken Off the Market
ATLANTIC CITY, NJ --
According to a recent report, Donald Trump has decided not to sell his three casinos in Atlantic City. The casinos had been on-the-block up until recently, said one source close to the deal. Its been reported that Trump had been involved with 2 different potential buyers in 2007.
According to Mr. Trump, "We are no longer interested in selling the properties. We're doing pretty nicely at the moment."
Trump owns 3 mega-casino resorts in Atlantic City, led by the flagship destination Taj Majal Casino Resort. His other two casinos, Trump Plaza and Trump Marina, have struggled in the past few years.
Potential buyers have been reluctant to make a deal with Trump. His three casinos have a combined debt of over $1 billion dollars, said one report from FoxBusiness.
Donald Trump is the chairman of the company, but no longer works on day-to-day issues. Instead, Trump has deligated the operational tasks to Mark Juliano, the current CEO. Juliano, at age 55, has been the CEO since August of 2007.
Many analysts in the Casino and Gaming industry have blamed a slowing economy and a new partial-smoking ban in Atlantic City as the reason for Trump's downfall. Others claim Trump is simply getting beaten by the other casinos in the area who are dealing with the same issues more effectively.
The companies stock closed today $3.60 per share. Trump Resorts trades under the symbol TRMP on NASDAQ.
Previous USA Casino News Articles
Post A Comment
|
 |
|
|
|
