ATLANTIC CITY — Donald Trump says he is taking a serious look at regaining control of Trump Entertainment Resorts, the parent company of both Atlantic City casinos that bear his name.
Trump retained a 10 percent stake in the company after pulling out as CEO in 2009 and allowing the company to maintain his name for a licensing fee. Recently he sued the company — which filed for Chapter 11 bankruptcy on Sept. 6 — to have his name removed from the buildings, believing that public perception of mismanagement is being attributed to him.
According to online reports, a Tweet was sent Tuesday morning, Sept. 16, from the @realDonaldTrump account that Trump’s office has confirmed as authentic, indicating that he may want to reinvest in the Trump Plaza and Trump Taj Mahal. The Tweet stated:
“I left Atlantic City years ago, good timing. Now I may buy back in, at much lower price, to save Plaza & Taj. They were run badly by funds!”
Reports indicated that Trump would not be able to take any action without the agreement of billionaire activist investor Carl Icahn, the largest creditor of Trump Entertainment Resorts, which closed the Trump Plaza on Sept. 16 and has threatened to close the Taj Mahal in mid-November.
Trump Plaza first opened in 1984, and Trump says he will make a determination if the casino-hotel is still viable to keep open if he bought back the company.
The Taj Mahal opened in 1990. In August 2008 — when the Atlantic City casino landscape was still on solid ground — the Taj Mahal opened the Chairman Tower (pictured right, far right), a 40-story, 782-room, $255 million hotel that first broke ground in July 2006.