Trump Entertainment plans to file for bankruptcy, according to Bloomberg.
The holding company owns and operates two casinos in Atlantic City, New Jersey, Trump Plaza and the Trump Taj Mahal.
Both hotel/casinos have been under considerable financial duress — so much so that company founder Donald Trump, who still owns 10% of the Trump Entertainment, has asked that his name be removed from both buildings.
The casinos, he argued, have not lived up to the “high standards of quality and luxury” associated with the Trump brand.
More on this to come…