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ATLANTIC CITY, N.J., Sept. 10 (UPI) -- Donald Trump may step in to save the day for his former company that still bears his name. The billionaire business mogul is reportedly considering the purchase of Trump Entertainment Resorts, which filed for bankruptcy Tuesday.
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Trump Entertainment plans to close the Trump Plaza casino in Atlantic City next week, and will shutter the Taj Mahal by November 13, unless it can come to an agreement with its union workers. Those closures would be the fourth and fifth casinos to cease operations in the New Jersey city this year.
Trump owns less than 10 percent of the company, and has not had a role in its operations since 2009, when he gave up the chairmanship in the company's third trip through bankruptcy.
He first began investing in Atlantic City in the 1980s, and a source tells the New York Post he believes Atlantic City's struggling casino industry might be primed for a turnaround.
The source says Trump believes the company has been poorly managed -- part of why he is suing to strip his name from Trump Entertainment's properties.
"He is really bothered by way Trump has been run," the source told the Post, adding that he thinks the poor management of the company reflects badly on the brands he does own.
Trump Entertainment is owned by Marc Lasry's Avenue Capital, and its $285 million debt is owned by Carl Ichan.
