Trump Name Removed Off Signage from the Defunct Trump Plaza
On Monday, workers began taking Trump letters from signs on the boardwalk from Atlantic Avenue of the now defunct Trump Plaza casino in Atlantic City, which closed its doors on Sept. 16. Workers could also be seen loading slot machines into trucks from the closed Trump Plaza casino.
The action on Monday is the result of a lawsuit initiated by Donald Trump who is pushing to have his name stripped from Trump Plaza casino. This lawsuit is seeking similar dissociation from the Taj Mahal and the Trump Entertainment company itself, as it’s harming his personal and professional image.
Real estate mogul Donald Trump sued the bankrupt casino in August. He went down the path of litigation, arguing the point that his Trump Hotels didn’t sufficiently continue to maintain the standards set out in the license agreement and hence wasn’t consistent of a property that has his name attached to it.
According to Trump, Atlantic City’s Trump Plaza and Trump Taj Mahal failed to meet the highest of standards associated with the hotel’s operations and overall cleanliness. The Trump hotels also failed quality review inspections carried out by third party evaluators.
Donald Trump said that even though the Atlantic City casinos have continued to operate under his name, he merely has been licensing his name and image to the casino since 2009 and no longer has anything to do with the casinos.
Ivanka Trump, the daughter of developer Donald Trump, also said in a statement to The Associated Press that, “This is a very important step for us,” although Trump Entertainment declined to make a comment to the press about the ongoing litigation.
The Taj Mahal which is another one of the Trump-named Atlantic City casinos, is expected to shut up shop in November, which if this turns out to be the case, would result in five of the twelve casinos that were operating in Atlantic City at the start of the year to have closed its doors.
Trump Entertainment Resorts Inc. is currently in a bankruptcy court in Delaware trying to get court permission to terminate the pension and health care plans of 2,800 or so Taj Mahal employees as a cost cutting exercise. The company says that if it can’t manage to cut labor costs and get a cash injection of around $100 million from investor Carl Icahn, then it will have no option but to close the casino in November. A judge last week refused to allow Trump Entertainment to immediately do so, although additional hearings will be held on this issue and further cost saving measures that could be used.
Mr. Icahn, who owns most of Trump Entertainment’s debt, has said in a statement that he would not rule out acquiring the Taj Mahal Hotel and Casino by converting its debt into ownership if the government offered concessions to do so.
Donald Trump still owns a small 10 percent stake in Trump Entertainment Resorts, which as it stands wouldn’t amount to much at all, as the company is in bankruptcy and threatening to close the doors of its other casino in Atlantic City. With that being said, although Donald Trump and his daughter have gone about disassociating their name from the Trump-named casino properties in Atlantic City, they haven’t ruled out trying to acquire The Taj Mahal in the bankruptcy court in order to try and revive the failed casino that once set the standard for offering the highest levels of quality and luxury synonomous with the Trump brand.