BANKRUPTCIES
Washington Post - Trump’s Taj Mahal opened in April 1990 in Atlantic City, but six
months later, “defaulted on interest payments to bondholders as his
finances went into a tailspin,” The Washington Post’s Robert O’Harrow found.
In July 1991, Trump’s Taj Mahal filed for bankruptcy. He could not keep
up with debts on two other Atlantic City casinos, and those two
properties declared bankruptcy in 1992. A fourth property, the Plaza
Hotel in New York, declared bankruptcy in 1992 after amassing debt. PolitiFact uncovered
two more bankruptcies filed after 1992, totaling six. Trump Hotels and
Casinos Resorts filed for bankruptcy again in 2004, after accruing about
$1.8 billion in debt. Trump Entertainment Resorts also declared
bankruptcy in 2009, after being hit hard during the 2008 recession.
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