Trump has been one of the major investors in the Atlantic City real estate market and he spent quite a lot of money on local casinos. For a while, these ventures were profitable and the real estate mogul was happy with the results, but since 2011 things took a turn for the worse. In an attempt of cutting down on his losses, he is now trying to exit the market altogether and his top priority is to severe any connection between him, Trump Plaza and Trump Taj Mahal.
These two casinos used to be the pride of Atlantic City, but now that they are no longer profitable, Donald wants to have his name removed. The fact that he only holds a 10% stake in this company is less important, because he doesn’t have the power to decide anything and the profits are nonexistent. The owners refused to remove his name and this is why the real estate mogul decided to go to trial, in an attempt of forcing their hand.
Trump hopes that by the end of the year, he will no longer be associated with the aforementioned casinos in any way. He left the business a while ago, but somehow he is overly concerned about the fact that his name is still clearly visible on the two structures. He took matters to television as well and addressed a broad audience that he doesn’t want people to make a connection between the decrepit casinos and his name. Trump Entertainment Resorts is the company that he has in the crosshairs, but it looks like these guys are not concerned at all about the impending lawsuits.
They know that a decision is unlikely to be reached anytime soon, with the court being expected to deliberate for a while. This means that they can still use the Trump name for some time, even though the name itself is not enough to bring customers in. There are no outside investors willing to take over these casinos, with many other ventures going bankrupt and they are now waiting for someone to make an offer