Financial Turmoil Hits Donald Trump’s Casinos

Economic troubles are now hurting even “the Donald.”

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Higher unemployment and home foreclosure rates are hitting Atlantic City’s casino industry, and even Donald Trump is feeling the pain, Bloomberg reports.

From Bloomberg:

Trump Entertainment Resorts Inc., the casino company founded by Donald Trump, said it will forgo a $53 million bond-interest payment due Dec. 1 as it negotiates with creditors on ways to restructure the company’s finances…

The casino owner posted its fourth straight quarterly loss this month as its Atlantic City properties attracted fewer gamblers and it wrote down the value of its Taj Mahal Casino.

Wall Street

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