Donald Trump called. He wants his casinos back - Blogging Stocks

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Donald Trump called. He wants his casinos back
Jun 17, 2009 07:30 PM UTC

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Filed under: Trump Entertainment Resorts (TRMP)

After his Atlantic City casino chain rejected his buyout offer and descended into bankruptcy, Donald Trump and his daughter Ivanka resigned from the board and he proclaimed that he wanted nothing more to do with the company.

Let the back-tracking begin. The Associated Press reports that Donald Trump is making an offer to acquire the company out of bankruptcy with the backing of Dallas-based Beal Bank. His offer will have to beat out a competing offer made by the bondholders. Since neither offer was publicly filed with the bankruptcy court, it's hard to handicap the Donald's chances.

The Atlantic City casinos have filed for bankruptcy twice in the past five years, and have been unable to compete in the highly competitive market because of a crushing debt load.

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Donald Trump called. He wants his casinos back originally appeared on BloggingStocks on Wed, 17 Jun 2009 14:30:00 EST. Please see our terms for use of feeds.

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