The property first went bankrupt in 2009, just a few days after both Donald and Ivanka resigned from the board, citing 'internal turmoil' due to the casino's poor financial performance. Trump bankrupted the property twice as part of his public casino holding company Trump Entertainment Resorts. Icahn blew $100 million trying to revive the property before throwing in the towel back in August. The hotel, which Trump called 'the 8th wonder of the world' back in the 1990s, cost $1.2 billion to build. Not so for the house Donald Trump built.Īccording to documents made public on Tuesday, the Trump Taj Mahal in Atlantic City sold for 4 cents on the dollar, changing hands from billionaire investor Carl Icahn to Florida's Seminole Indians. They say that in the casino business the house always win.
(Marita Luna (C) and Miriam Ramos (2nd R) joins other union members from UNITE HERE Local 54 as they rally outside the Trump Taj Mahal Casino in Atlantic City, New Jersey October 24, 2014.Reuters)
