Trump Entertainment Resorts (NASDAQ: TRMP) disclosed on Friday that it would delay making a $53.1 million interest payment on its senior secured notes due 2015 as it looks to restructure.
The company owns and operates the Atlantic City's Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino, and the Trump Marina Hotel Casino. The Donald serves as the nonexecutive chairman of the board and his daughter Ivanka is also a director.
The company's results have suffered along with the broader tourism economy, but the Trump properties in Atlantic City have also been hurt by their dated feel and the company's lack of cash that has made necessary updates difficult.
As I wrote back in March, Donald Trump has continued to loot this sinking ship: In 2007 he was paid $2 million for serving as chairman of the board in addition the company's purchases of Donald Trump-branded water and other goodies.
The stock closed at 31 cents per share on Friday.
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Reader Comments (Page 4 of 4)
12-02-2008 @ 1:48AM
maria said...
LLLLLLMMMMMMAAAAAOOOOOOO
12-02-2008 @ 3:32AM
bob wong said...
Trump is trumped!
12-02-2008 @ 3:56AM
The Dexter said...
I wonder if The Donald's methods are covered in Trump University?
12-02-2008 @ 4:24AM
LeeAnn said...
If you have been to any of TRUMPS Casinos in the past 3-5 years, you would know how bad they are!
My Dad knew TRUMPS Dad, and according to him and others they all say how nice of a man he was. Those who knew his Dad can not even believe he is from the same family as he lacks the caring and compassion that his Dad had while still being a successful businessman. DONALD has an ego bigger than the Goodyear Blimp but also has all the hot air that can fill one too!
He has a failed venture in Tampa, Florida. He was chased out of an area of Queens (Malba/Whitestone) and other areas have also fought him and won, and he is NOT well liked by many of those who live in Palm Beach. He thinks because he is Donald Trump that everyone should bow down to him. I bow to ONLY one person and that is in Church!
When you really think about it, OMAROSA was his perfect equal when she was on The Apprentice. Maybe he should team up with her and then they can go down the financial slide together!
12-02-2008 @ 4:45AM
Gary W said...
Katherine..lol...And william gates...LMAO...Funny comments...Laughing as im writing....LOL...Made my day. I have to agree with most comments on this one..lol....Donald is a joke. What an ego.
12-02-2008 @ 4:47AM
Gary W said...
Hastin..lol....and wong too....These comments this morning.....LMAO...FUNNY.....
12-02-2008 @ 5:26AM
handsome said...
Hey Gilbert, I think you have a bad case of idolitry. Why don't you worship at the alter of the golden calf. The "Donald" epitomizes the seven deadly sins. Pride, Averouis, Envy, Lust, thy name is Trump. I'm not a religious fanatic, but I certainly see how dangerous this type of person truly is to our well being.
12-02-2008 @ 8:54AM
dew said...
I sincerely hope the government does NOT plan to "bail out" Mr. Trump. He is an INDIVIDUAL "small business" man just like many others who are having financial difficulties. The difference is the others would not get the same opportunity to defer their interest on loans or taxes--rather, someone would foreclose on them or they would have to file bankruptcy. How long are WE going to allow this IDIOT who throws his weight and money around like a drunk sailor and who has NO moral or ethicalness to his character continue to operate like he owns the government and the law?????
12-02-2008 @ 9:10AM
ronnie said...
The trump boat is sinking, and is going to take a lot of sailors with him, he is building some golf resort in Puerto Rico without cash , and upon he finish he have to sell those units in a market of real state that right now is in HOLD....
12-03-2008 @ 1:15AM
Go(L)d bless us said...
Will see what else this aprentice will teach to us.
Donald has a hotel in Chicago which is not finished yet. Eventhough he has it open an each room in the hotel goes from $3000 to $5000 a day.
How come he says can't pay the interest.
12-03-2008 @ 4:32PM
J.R. said...
I GUESS HE THINK THAT HE IS E. F. HUNTEN, WHEN HE TALKS, THEY LISTEN. YOUR FIRED!!!!! DONALD! BOMCHICKAWHAWH, BOMCHICKAWHAWH.
12-11-2008 @ 5:08PM
widollar said...
The Donald has been hiding thousand dollar bills in his famous combover for several years now. Rumor has it he has a large fortune hidden in his large combover!