As for selling out before the market turned, that again is not correct. His companies went bankrupt 3 times and each time his ownership stake was reduced. You may believe what you want but ignore facts at your peril. In the end, the guy was right, the Taj went bankrupt for the first time in a year or so. Trump called the company and forced the brokerage company to fire the analyst, his name was Marvin Roffman, please look it up. A Philadelphia based stock analyst wrote an obscure report stating that the Taj would not profitable, it needed a “loss” of $1 million a day from gamblers just to break even.

Trump ended up buying the Property and named it Taj Mahal. Resorts International wanted to build a second casino, but it was so big, they ran into financing issues and Trump and Merv Griffin were trying to gain control of the company. Fun Fact, the playing cards and some items bore the Hilton name when it opened. Hilton Hotels built a casino hotel in the Marina and just before it opened, the NJ Casino Control Commission refused licensing the Hilton, so Trump bought it and it was named Trump Castle. It is a fact that Trump stiffed many of the contractors for payment and put many small contractors out of business because they had to sue or wait months for payment.ĭo you know the property under the TP was leased for 100 years? For what it’s worth, Carl Icahn now owns the building and recently bought the land underneath from the landlord.

He became a Partner and shortly after it opened, he bought out Harrah’s and made it Trump Plaza. He was asked to manage the construction of Harrah’s at Trump Plaza. Trump was brought into AC by Harrah’s, at the time they were a subsidiary of Holiday Inn. I don’t want this to go off the rails, so if we can stick to the facts it might just educate someone with an open mind.

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