Value Of Atlantic City Trump Casinos Plummets Over 75%

trump head shot

The Trump Taj Mahal, Marina, and Plaza, all located in Atlantic City, New Jersey have sunken deeply in value this year according to a new valuation released yesterday.

What’s stunning is how far they’ve fallen in such a short time — from February 2009 until now they’re reportedly down nearly 75%, according to filings.

If that seems like an implausible drop, it’s because it is, and we’re guessing the numbers reported in February we’re on the rosy side.

NY Post:  Trump Entertainment Resorts, which owns the Trump Taj Mahal, Trump Marina and Trump Plaza casino-hotels, yesterday quietly acknowledged that the properties are worth an estimated $459 million — down from $2 billion in assets when Trump Entertainment filed for bankruptcy in February 2009.

The stunning drop in value, made in a filing submitted to the Securities and Exchange Commission late Christmas Eve and posted publicly yesterday, was based on the casinos’ 2009 financials, which have yet to be released.

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