donald trump atlantic city casino bail out

There were cheers from a viewing party of people who had paid $10 to watch from their cars. The building imploded and a huge cloud of dust consumed the beach and famed Atlantic City boardwalk. The Plaza’s end came at around 9am with a series of explosions. A year later, Trump announced his world-changing run for US president, often citing Atlantic City as proof of his business acumen. But after a string of bankruptcy filings, the New York property tycoon and reality TV host cut ties with it in 2009.īy the time it finally closed its doors in 2014, Trump Plaza was the worst-performing casino in Atlantic City, taking in as much money from gamblers in eight and a half months as the Borgata casino did every two weeks.

It hosted parties for countless Hollywood actors, rock stars and sportspeople. The former real estate developer has owned up to four casinos in the northeast gambling capital: apart from Trump Plaza there was also Trump World's Fair which closed in 1999, Trump Marina which was sold by creditors in 2011, and the Trump Taj Mahal which closed in 2016.The casino opened in 1984 during a decade of excess for Trump and other kings of capitalism. Trump had already filed a lawsuit in 2014 asking that his name be removed from the building's facade, believing its presence there was bad for the Trump name and brand. Icahn has not said what he will do with the land once the building is destroyed. In mid-June, Atlantic City Mayor Marty Small announced the building's demolition, after taking legal action over what he considered to be a danger to residents. Since 2016, the two-building complex has belonged to billionaire investor Carl Icahn, who was one of Trump's main Atlantic City financiers.

On several occasions during storms, pieces of its exterior have fallen onto the seaside promenade that runs alongside the building. It opened in 1984 and has undergone little to no maintenance since shuttering.

Donald trump atlantic city casino bail out