Trump is certainly believed to be the all-successful businessman. But, for the Hotels named in his likeness, that just isn't the case.
New Jersey courts this week approved Chapter 11 reorganization plans to help the company come out of bankruptcy. Donald Trump will relinquish the bulk of control for Trump Hotels as part of the reorganization, and Trump Hotels will be renamed to Trump Entertainment Resorts. The hotels will be taking a $500 million loan to revitalize its Atlantic City casinos, including building a new 1300 room tower at the Trump Taj Mahal.
See also: OCN
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