Trump Entertainment Seeks Bankruptcy Protection Feb 25, 2009

Perhaps it is going to be a case of ‘third time lucky’ for casino operator Trump Entertainment Resorts as this makes the third time that the company is filing for bankruptcy under Chapter 11.

Poker players who play at Trump Taj Mahal, which is part of Trump Entertainment Resorts, may be well aware that the company has been in trouble for some time. This was indicated when the company failed to make a bond payment in December, last year.

Poker fans that keep track of the news may also be aware that Donald Trump and Ivanka Trump have both formally resigned from their positions as Directors on the Board of Trump Entertainment Resorts. This happened less than a week before the company took shelter under the bleak umbrella of bankruptcy.

The Trump Taj Mahal, Atlantic City, is well known to poker aficionados because of the poker rooms belonging to Trump Taj Mahal Associates used as an important locale in a very popular film, namely, the cult classic called ‘Rounders’, beloved of poker fans.

Trump Entertainment’s Trump Plaza and Trump Marina, properties in Atlantic City have been facing stiff competition there and struggling with the effects of the market slowdown. In fact, the situation in Atlantic City as a whole is bad – revenues are down, and many casino operators are finding it hard to keep their heads above water.

As far as poker players who play at Trump Taj Mahal’s poker rooms are concerned, the CEO of Trump Entertainment Resorts, Mark Juliano says that there are not going to be any revolutionary alterations with regard to gaming. He said, "This filing will result in no immediate change in our daily operations, and we expect to make no changes regarding our operating structure or philosophy."

Things look bad for Trump Entertainment Resorts, however, with sister concerns such as Trump Taj Mahal Associates, Trump Plaza Associates and Trump Marina Associates declaring bankruptcy as well.