He added, however, that the casino bankruptcy “must be an affront to his ego.” “He’s a master at deploying his assets in such a way that he spreads the risk and minimizes his exposure.” “There’s no danger of him personally losing his fortune (because) his other enterprises are shielded because he’s segregated his holdings,” Sabino said. Sabino termed the Trump casino businesses restructuring as “a prepackaged bankruptcy.”Īnd Sabino said he did not expect the casino problems to bring down the high-flying Trump. for about $5.2 billion, and further consolidation in the industry is expected. In June, MGM Mirage agreed to purchase the Mandalay Resort Group for $4.8 billion in cash, followed a month later by a deal for Harrah’s Entertainment Inc. He noted that casinos in both Las Vegas and Atlantic City have been undercut by the growth of gaming operations on Native American reservations and the weaker economy.

John’s University in Jamaica, N.Y., said the bankruptcy filing was “not surprising give the circumstances in the gaming industry.” That’s why I wanted to straighten out the structure of the company.”Īnthony Sabino, an associate professor of business at Peter J. As to the bankruptcy’s impact on his wealth, Trump said: “The casinos are less than 2 percent of my net worth, but it’s important to me because we’ve had this company for a long time.

Doanld trump 80s casino