Donald Trump back in Atlantic City?
On the day Trump Plaza closed its doors, Donald Trump says he is considering a return to Atlantic City.
"I left Atlantic City years ago, good timing. Now I may buy back in, at much lower price, to save Plaza & Taj. They were run badly by funds!," tweeted Trump, who has had little to do with the day-to-day operation of the two properties. "It is so sad to see what has happened to Atlantic City. So many bad decisions by the pols over the years - airport, convention center, etc." He added a short time later, "Does anybody notice that Atlantic City lost its magic after I left years ago. I had the big boxing, introduced UFC (ask Dana),the best shows."
The Press of Atlantic City reports a helicopter with the Trump logo on it landed at the Taj Mahal this afternoon but Donald was not on board.
Michael Cohen, Trump Organization executive vice president and special counsel to Donald Trump tells Philadelphia magazine he is serious. "I can confirm that Mr. Trump is looking at Trump Entertainment Resorts in Atlantic City," said Cohen. "But he's doing so cautiously."
Trump himself told the Associated Press that he will "take a good strong look" at buying back control of Trump Entertainment Resorts, which declared bankruptcy this month. "I got out years ago, the timing was good, but I feel really badly about the people. I will be taking a very serious look," he said, adding that the decision will come down to price."
Trump Entertainment, the owner of The Taj Mahal, filed for bankruptcy last week and threatened to close in November if it cannot get concessions from the employee union. Worker Adjustment and Retraining Notifications (WARN) notices are required by law to be issued 60 days in advance of a layoff involving 100 or more employees.
Donald Trump holds only a 9 percent interest in Trump Entertainment. However, shortly after plans to close Trump Plaza were announced. the billionaire became the target of complaints and filed suit to get his name removed from the properties. “I want it off both of them,” Trump said. “I’ve been away from Atlantic City for many years. People think we operate (the company), and we don’t. It’s not us. It’s not me," Trump said.
In his lawsuit, Donald claimed that Trump Entertainment has allowed the resorts to "fall into an utter state of disrepair and have otherwise failed to operate and manage the casino properties in accordance with the high standards of quality and luxury required under the license agreement."
Casino analyst Alan R. Woinski of Gaming USA reminds CBS News that Trump was responsible for the problems that led the Plaza and Taj Mahal to be sold in the first place. "He is much better at TV shows and real estate than he was at managing casinos."
Trump opened Trump's Castle, later Trump Marina, in the city's marina district in 1985 and opened the $1 billion Trump Taj Mahal in 1991.The casinos went through bankruptcies in 1991, 1992, 2004 and 2009. Trump lost majority control of the company in 2004 and left his position as chairman in 2009. Trump Marina was sold in 2011.
Host Harry Hurley of Townsquare Media Atlantic City WPG, the former senior hotel executive for the Trump Marina property said Trump "likes to fix things."
"When Donald Trump floats something like this, he really means it," Hurley said. "It would be great if Mr. Trump decides to return to Atlantic City."
The Associated Press contributed to this report
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