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Moliere

(285 posts)
Sat Jun 11, 2016, 10:44 AM Jun 2016

How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions

Just more proof that he's a complete charlatan and criminal.

His audacious personality and opulent properties brought attention — and countless players — to Atlantic City as it sought to overtake Las Vegas as the country’s gambling capital. But a close examination of regulatory reviews, court records and security filings by The New York Times leaves little doubt that Mr. Trump’s casino business was a protracted failure. Though he now says his casinos were overtaken by the same tidal wave that eventually slammed this seaside city’s gambling industry, in reality he was failing in Atlantic City long before Atlantic City itself was failing.

But even as his companies did poorly, Mr. Trump did well. He put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments. The burden of his failures fell on investors and others who had bet on his business acumen.


http://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.html?smprod=nytcore-iphone&smid=nytcore-iphone-share
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How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions (Original Post) Moliere Jun 2016 OP
'the art of the steal' spanone Jun 2016 #1
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