President Donald Trump and Casinos
The world had one serious shock when it was declared that Donald Trump would be the next President of the United States. It seems that no one really expected it could happen, especially considering some of the outlandish things the man was saying. He talked about building unfeasibly enormous walls between Mexico and the United States, and that somehow Mexico was going to pay for this absurd idea. And that’s not even mentioning that the man’s toupee had a habit of blowing off, or that he was noted for having a rather unusual skin tone at times.
Some may know more than others, however, that Donald Trump has a very strong connection to the gambling industry. And this was prior to his more recent venture into an online poker company. He is known for boasting that he saw incredible success with a casino empire in Atlantic City, and that he took major cash away from two establishments; the Trump Taj Mahal, and the Trump Marina Hotel.
One will note that he prominently used his own name in both of the casino’s official branding, which says a lot about what he feels his own name is worth. But these two establishments deserve a much closer look, since not all is what it appears to be.
Some years ago Atlantic City was slated as being the new gambling hotspot of the United States. And, at least for a while, it seemed that this was going to be true. Trump established his two establishments when Atlantic City seemed it was going to keep growing, and eventually outshine the world famous Las Vegas. At that time the two establishments may have been seeing a reasonable amount of success. But, however, if you look at these two casino/hotel behemoths now you will see a very different story. They are not in the best of shape, and in fact look the exact opposite of a success story.
It’s important to keep in mind that much of Mister Trump’s angle as a presidential candidate was that his business savvy mind would be good for the Untied States and its economy. Some may even recall him as the focal point of a reality television show that had him uttering the words “you’re fired” with a certain amount of vigour, which also seemed to celebrate him as an incredibly business savvy individual. But then what about these two casinos that seem to only have been mentioned once he started blazing a campaign trail?
Trump Made Big Bucks
The truth is that Mister Trump did make loads of cash off of his two establishments, but that the establishments themselves did not do well at all. During interviews with The Times, Trump did not deny that the two casino/hotels were doing poorly, but was quick to assure that he himself walked away with loads of cash.
How did he manage this? Simple; he did not put up much of his own money, and regardless of how well the establishments were doing, he still drew an enormous salary, as well as a healthy sum of bonuses. The debts and losses were shifted to the investors.
If you’re thinking that the whole deal sounds awfully sketch at this point, you’ll be interested to know that everything which occurred at the casinos was, strictly speaking, completely legal. At no point did Mister Trump break any laws, regardless of the fact that losses were reported of 1.5 billion dollars, and he walked away a rich man. If anything can be said, he certainly came out of the situation smelling of roses, which can’t be denied, is rather remarkable.
Two Sides To A Coin
The whole thing is sure to raise some eyebrows, but it should always be kept in mind that there are two sides to every story. Many say that Donald Trump is spoken of highly in Atlantic City, since his establishments employed many good people, and none ever went with salaries unpaid. The jobs were especially appreciated when Atlantic City began to fall into a slump, but the two casino/hotels went on ticking.
Others will be quick to say that the Trump Taj Mahal and Trump Marina Hotel are proof positive that the man does not know how to run large organisations. Either way, neither of the two establishments are under the control of Mister Trump any longer. The Marina Hotel was sold some time ago, at a reportedly ridiculous loss. The Taj Mahal is now known as the Golden Nugget.
Whatever your feelings about Trump and his history with casinos, the fact that he walked away a rich man cannot be denied. What this means for him, and his capability as President of the United States is up for debate. He is the new President of one of the most important countries in the world, and how he handles it is certainly going to draw a lot more attention than two casino/hotels in Atlantic City. The world holds its breath to see how things pan out.