Trump era could be near end

As reported by the Philadelphia Inquirer:

“…With his gambling halls still struggling and his casino company reviewing bids from possible buyers, this could be the end of the show for [Donald J.Trump in Atlantic City. People familiar with negotiations to sell his casino company – Trump Entertainment Resorts Inc. – say a sale could be announced this week.

“The developer and reality-TV star said that, regardless of who buys his casinos, he hopes he won’t be taking his final bow in Atlantic City.

“…But to play in the new Atlantic City, where at least four billion-dollar-plus gambling palaces are being built, and competitors are pouring hundreds of millions of dollars into upgrades to lure younger, more affluent overnight customers, The Donald knows his name and fame won’t be enough.

“He needs money – lots of it – to exist and compete here.

“…Trump is banking that his famous name and brand will stay on at least one of the casinos, and that the new owner will have a role for him, even if it’s just to make an occasional appearance.

“…But Trump’s role in Atlantic City has been slowly diminishing over the years. A bankruptcy restructuring in the spring of 2005 reduced his stake in the casino company from 52 percent to 31 percent and stripped him of his CEO title. While he remains chairman of the board, he has not been involved in the day-to-day operations of the casinos.

“…The cooling real estate market could also spell trouble for his multitude of building projects all over the country, which include Trump Tower, a luxury condominium high-rise proposed for the Philadelphia waterfront…”

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