Tuesday, February 17, 2009

"The Donald's" Casinos Go Broke

And lose a bunch of other people's money. Way to go Donald!=Lou

Donald Trump's Casino Group Files Bankruptcy
Tuesday , February 17, 2009

Trump Entertainment Resorts Inc., real estate tycoon Donald Trump's casino group, filed for Chapter 11 bankruptcy Tuesday morning, court documents show.

The petition listed less than $50 million in assets and nearly $500 million in debt, according to a petition filed today in U.S. Bankruptcy Court in Camden, New Jersey.

The company's board was scheduled to meet late Monday night to decide whether to authorize the filing. It is believed the casino operator would have otherwise been forced into bankruptcy involuntarily by creditors.
The filing marked the third appearance in bankruptcy court for Trump Entertainment, which most recently emerged from bankruptcy proceedings in 2005.
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