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 countrys gambling capital. But a close examination of regulatory reviews, court records and security filings by The New York Times leaves little doubt that Mr. Trumps casino business was a protracted failure. Though he now says his casinos were overtaken by the same tidal wave that eventually slammed this seaside citys 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