Donald Trump roared into Atlantic City with an impressive head of steam, determined to become a dominant figure in the city’s new casino economy. He started big activity in the early 80s. Within a decade, in 1991, most of that activity had crashed, and Trump filed for bankruptcy four times in connection with them.
A fifth bankruptcy, in 2009, by the business led to a restructuring. The crowl jewel of Trump’s developments, the Taj Mahal casino, did continue on. But last week it too fell, filing for bankruptcy, idling 3,000 workers.
“There’s no reason for this,” Trump said in an interview.
Well of course there is. But it does raise the counterintuititve question: How do you lose so much money running a casino? Doesn’t the house always win?
Apparently not if it’s a house Donald built. – rs
BONUS Three reasons Donald Trump conclusively should not become president, packed into a single sentence on the Politico site: “On Wednesday, Donald Trump said Paul Ryan made a “sinister deal” to undermine him, charged that the Islamic State would conquer the United States if Hillary Clinton defeats him and vowed to jail Clinton’s lawyers along with their client.”Share on Facebook