Trump Entertainment files for bankruptcy
Tue Feb 17, 2009 10:18am EST
By Kyle Peterson
CHICAGO (Reuters) - Trump Entertainment Resorts Inc, the casino operator named for Donald Trump, filed for bankruptcy protection on Tuesday as recession and declining gambling revenues battered the company and its rivals.
The Chapter 11 filing marks the third plunge into bankruptcy for the company, which was created out of a restructuring in 2005. It also underscores the struggles facing the casino business as recession squeezes casino gambling.
Trump Entertainment owns and operates three casino hotels in Atlantic City, New Jersey, including the Trump Taj Mahal, Trump Plaza and Trump Marina.
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