With the possibility of Trump Taj Mahal closing on the table, you might wonder what Donald Trump himself thinks about the situation and how thousands of employees are losing their jobs. While Trump says the situation is “sad,” he claims that Atlantic City went bad when he got out.
In a related report by The Inquisitr, the news that the Trump Plaza was closing as well seemed to put the writing on the wall for Atlantic City.
Whether or not we’ll actually see Trump Taj Mahal closing in 2014 seems to be up in the air at the moment. A recent filing to the state Division of Gaming Enforcement indicates the company has been “adversely affected” by “extremely cold winter weather and frequent snowstorms in the Mid-Atlantic United States, increased utility costs, intense competition in our market and surrounding markets, and current economic conditions.” While the filing does not explicitly say the Trump Taj Mahal casino is closing, the information provided does seem to point to a potential future closing.
“If the Company is unable to achieve significant revenue increases and improvements in its operating results, the Company will have difficulty funding its operations and meeting its payment obligations, unless the Company is able to obtain additional sources of liquidity or restructure its business and/or its indebtedness and other obligations,” the filing stated. “There can be no assurance that the Company will achieve such revenue increases or that it will be successful in obtaining additional sources of liquidity.”
The name of Donald Trump has been in Atlantic City since the 1980s when he began buying up properties, controlling up to a third of the entire market at his peak. Long story short, in 2004, Trump’s company underwent debt restructuring in a Chapter 11 bankruptcy, and eventually Donald lost his CEO title and gave up majority control despite the company being called Trump Entertainment Resorts, Inc. Donald even sued to have his name removed from the side of the buildings since he felt the Trump Taj Mahal and the Trump Plaza were not “synonymous with the highest levels of quality, luxury, prestige, and success.”
Still, if we see the Trump Taj Mahal closing down, the Donald will have some regrets.
“I think everyone knows that I’m gone. Atlantic City was a place that I really loved; you know, I did it for a long time in Atlantic City. But a lot of people say when I left, that’s when it went bad. And in one way, I’m honored by that statement, but in another way, I feel badly about Atlantic City.”
More recently, Donald Trump went on to Twitter to discuss how the Trump Taj Mahal closing might affect the employees… but not without giving himself a pat on the back.
What is happening in Atlantic City, casino closures, is very sad – but does anybody give me credit for getting out before its demise? Timing
— Donald J. Trump (@realDonaldTrump) August 31, 2014