Fact Check: "Trump's casinos in Atlantic City filed for bankruptcy multiple times."
What We Know
Donald Trump's casinos in Atlantic City have indeed filed for bankruptcy multiple times. Specifically, Trump's casino business faced bankruptcy in 2004, 2009, and 2014. These filings were primarily through Trump Entertainment Resorts, which was the parent company of his casino operations in Atlantic City (source-5). According to a report by bankruptcy expert David Lipson, Trump's casinos went through four bankruptcies in total, a record for large businesses in the industry (source-3).
The New York Times also documented that Trump's casino business was marked by significant financial struggles, describing it as a "protracted failure" despite the initial hype surrounding his properties (source-2).
Analysis
The claim that Trump's casinos filed for bankruptcy multiple times is supported by multiple credible sources. The New York Times and various congressional reports provide detailed accounts of the financial difficulties faced by Trump's Atlantic City casinos, highlighting the specific years of bankruptcy filings (source-2, source-4).
Moreover, the Wikipedia entry on Trump Entertainment Resorts corroborates the bankruptcy timeline, listing the years of bankruptcy filings clearly (source-5). The Washington Post also confirms that Trump Hotels and Casinos Resorts filed for bankruptcy in 2004, alongside Trump Entertainment Resorts (source-6).
The reliability of these sources is high, as they are backed by documented financial records and expert analysis. The New York Times and congressional reports are particularly reputable, providing comprehensive insights into Trump's business practices and the implications of his bankruptcies on workers and investors alike (source-1).
Conclusion
The claim that "Trump's casinos in Atlantic City filed for bankruptcy multiple times" is True. The evidence from multiple credible sources confirms that Trump's casinos filed for bankruptcy in 2004, 2009, and 2014, marking significant financial failures in his business ventures.
Sources
- PDF How Trump's Casino Bankruptcies Screwed His Workers out of ... - House Link
- PDF How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned ... Link
- Bankruptcy expert studies Trump casinos | Temple Now Link
- How Donald Trump Bankrupted His Atlantic City Casinos ... Link
- Trump Entertainment Resorts Link
- Fact Check: Has Trump declared bankruptcy four or six ... Link
- Hard Rock Hotel & Casino Atlantic City Link
