Is Donald Trump serious about saving Atlantic City or is he just interested in publicity? (Image: AP)
Can Donald Trump save Atlantic City? And certainly will he?
The word from The Donald is he says he’s exactly what AC has been missing all these years that he can, and what’s more. This week and its non-Donald-related owner Trump Entertainment prepared to file for bankruptcy, the billionaire real estate mogul announced that he is ‘looking into’ mounting a rescue attempt as the Trump Plaza shuttered its doors.
Expected by the Press of Atlantic City whether he would help to save The Trump Plaza and its particular at-risk sister home, the Trump Taj Mahal, the Donald said, ‘We’ll see what happens. If I can help the people of Atlantic City I’ll do it.’
Later on, on Twitter, and clearly warming to his theme, Trump said: ‘we left Atlantic City years back, good timing. Now we might purchase back, at reduced expense, to save your self Plaza & Taj. They were run badly by funds!’
Trump has been hugely critical of his company that is former Trump in recent months, and has sought to distance himself from its stricken casino properties. In July, possibly catching wind of impending bankruptcy, he launched legal proceedings to have his name eliminated from the gambling enterprises so that they can protect their brand, of which he’s hugely protective.
‘Since Mr. Trump left Atlantic City many years back,’ states the lawsuit, ‘the license entities have allowed the casino properties to fall under a state that is utter of and have otherwise unsuccessful to operate and manage the casino properties in accordance with the high criteria of quality and luxury needed under the permit contract.’
Trump left the nj-new jersey casino industry last year, and Trump Entertainment was bought away by a small grouping of hedge fund managers and corporate bondholders, who were permitted to retain the brand name in return for a 10 percent ownership stake for Trump in the reorganized business. He has already established nothing related to the casinos’ day-to-day operations subsequently.
‘Does anyone notice that Atlantic City lost its magic when I left years ago,’ Trump tweeted. ‘It is really sad to see just what has happened to Atlantic City. Therefore many decisions that are bad the pols through the years: airport, convention center, etc.’
Within the early ’80s, Trump embarked on a joint project with getaway Inn and Harrahs to build the vacation Inn Casino resort. It absolutely was completed in 1984, in which he immediately bought out his company partners and renamed the property the Trump Plaza. It was the casino that is first ever owned, and this week it closed. Can it be that the notoriously cold-blooded property developer features a sentimental side? Or perhaps is it, simply, as many folks think, that he can’t resist some publicity that is good?
Publicity Stunt a Possibility
Senator Jim Whelan (D-Atlantic) believes in the latter explanation.
‘Donald is a guy who likes to see his title in the paper,’ he stated. ‘He’s never ever been shy about searching for publicity or getting publicity. Issue is whether this is more promotion for Donald or whether he could be seriously interested in coming back to Atlantic City in a way that is real. We will see down the road. Is Donald Trump looking to get some promotion, or is he serious? And if he’s serious, come on in and write some checks.’
‘I can see Donald’s ego wanting him to come back as a savior,’ agreed gaming consultant Steve Norton. ‘ I don’t think Donald’s title would help the casinos that much,’ he said. ‘Our issue is, other casinos have opened up and cut off traffic from Philadelphia and New York.’
Intriguingly, and as if to spite the naysayers, the Trump’s helicopter was seen arriving on the top of this Taj on Tuesday. Could it be that Trump is really prepared to put his cash where his mouth is?