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Trump Competing?

Trump Entertainment has just spent the last year updating their three properties in Atlantic City – the Trump Plaza, Trump Marina, and Trump Taj Mahal – and will have spent more than $250 million on the properties before all is said and done. However, it may not be enough to save the empire that once upon a time was the only one profitable in Atlantic City.

When asked, Trump says that he is doing great, and that he couldn’t be happier with the way things are going. However, he owns three casinos in town and two of them are at the bottom of the list in casino revenue. Last year he lost $19 million, and is $1.4 billion in debt. It is no wonder that they had looked into bankruptcy proceedings two years ago.

Now, they ended up not declaring, and left supposedly with a new game plan as well as a new name, but it does not seem to be enough for the group. They are getting further and further into debt, and with PA’s slot machines now taking more of the town’s revenue, they will probably be the first to fall. Experts say that they just don’t have the capital to compete in what is undoubtedly a major turning point for Atlantic City.

Even the company’s COO Mark Juliano says that they do not have the cash necessary to compete right now, and that they are trying to turn things around but that they are “ten years behind” the other casinos in town. With Merrill Lynch being called in to look at their books and help them “explore their options” per Donald Trump, many thinks that there is a chance that they might sell all three properties, or at least one of them to improve the chances of the other two.

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