Trump Taj Could Be Next in Bankruptcy
Another Atlantic City casino could be in trouble.
The Trump Taj Mahal, the 24-year-old boardwalk casino, has recently broken some of its loan covenants and without a quick deal with its creditors could be headed for a Chapter 11 reorganization within days, The Post has learned.
So far, talks between Trump Entertainment Resorts — which owns the Taj and its neighbor, the soon-to-close Trump Plaza — and its creditors have not found an out-of-court solution, sources said.
The Taj until recently employed roughly 5,000 people. Already, roughly 6,000 people have lost their AC jobs as the Revel, Showboat and the Atlantic Club casinos have closed — to be followed by the Trump Plaza in 12 days.
Donald Trump retains a less-than 10 percent stake in the casino, the Post reported.
Previously: Thousands of People Lost Their Jobs in Atlantic City and Donald Trump Is Gloating
Previously: Revel Went Out With an Early-Morning Fire Alarm
Previously: Showboat Gets OK to Close at End of the Month
Previously: Report: Atlantic City May Have Just 6 Casinos by 2017