The casino industry is a volatile one. With so much competition and a bad economy, Atlantic City casinos aren’t as successful as they once were. In recent events, one AC casino was closed in January with two more scheduled for the chopping block next month. Yet another is up for auction on Thursday and will be shut down if there are no buyers. The Trump brand of casinos is an example. They’re doing so bad that the entity’s owner and reality TV star, Donald Trump wants nothing to do with them anymore. On Tuesday, Trump filed a lawsuit against Trump Entertainment resort to have his name taken off of the Trump Plaza and Trump Taj Mahal. He feels that the corporation has allowed the casinos to run into disarray and beneath his person standards of quality.
In an interview Tuesday evening, Trump said, “I want it off both of them. I’ve been away from Atlantic City for many years. People think we operate (the company), and we don’t. It’s not us. It’s not me.” The lawsuit sites a breach of Trump’s licensing contract that must be remedied or his name must be taken off of the casinos and businesses.
In this case, the captain refuses to go down with the sinking ship. More details are emerging. For the full story, check here.