The bankruptcy of the Trump Taj Mahal Casino's underside.

Sunday, October 23, 2016

Donald Trump, the Republican nominee for the presidency, has encountered a series of scandals recently, encompassing a range of offensive remarks including misogyny, racism, and references to incest. As a result, the media has intensified its critical coverage, creating turmoil in the campaign. However, these controversies have not deterred the ambitious billionaire from his pursuit of succeeding Barack Obama in the White House. Prior to his foray into politics, Trump established a reputation for investing in extravagant ventures, which has become his distinctive characteristic. One of his notable projects involved the construction of a massive casino, which ultimately underwent complete financial collapse and bankruptcy.

The Trump Taj Mahal Casino: the epic tale of a disastrous venture.

If he considers himself the President of the United States with the intention of assisting the American citizens, he has, on the contrary, left his previous staff in a state of utter vulnerability.

It is quite challenging to capture the essence of Donald Trump's personality in a few words. His fame and fortune aside, he is best known for his penchant for making controversial remarks. A notable instance occurred on September 11, 2001, when the world was reeling from the tragic World Trade Center attack that claimed the lives of almost 3,000 individuals and left a lasting impact on global consciousness. In a rather peculiar manner, Trump took this moment to highlight that his own Trump Tower had regained its status as the tallest building in Manhattan since the World Trade Center, which had previously surpassed it, was now no more.

In my observation, it seems that he does not place any significance on the well-being of individuals or the negative consequences for society, despite his arguments to Americans about "making America great again." An evident illustration of this is the collapse of the casino he constructed back in 1990. It appears that his focus is solely on his own interests without regard for the human or social implications of his actions.

In the span of 26 years, the casino or its parent company has faced a total of 4 bankruptcy filings.

Inaugurated with great fanfare and dubbed the "eighth wonder of the world" by the business tycoon himself, the Trump Taj Mahal casino stood as a symbol of grandeur and opulence. At first glance, one might assume that the 26 years it stood tall signified a prosperous longevity. However, the truth paints a starkly different picture. Merely a year after its glamorous opening, the establishment found itself entangled in significant financial hardships, marking the start of a tumultuous journey for the renowned casino.

On Monday, October 10, 2016, the casino definitively closed its doors, marking the end of an era. Over the course of 26 years, the establishment and its parent company saw a staggering total of four bankruptcies, with each one causing significant financial turmoil. In 2014, the casino found itself in the hands of Carl Icahn, a wealthy friend who sought to save it from its mounting debts. However, despite his efforts, Icahn was unable to pay off the monumental debts that had accumulated over the years. This unfortunate outcome ultimately sealed the fate of the once-thriving casino.

If only the candidate for the White House had not displayed his notorious obstinacy, the extent of the damage could have been contained. To this day, he persists in proclaiming to anyone who lends an ear that there exists no justification for the closure of the establishment and that a consensus should have been reached to revive the casino's financial state.

More than just an economic collapse, it was a catastrophic event that deeply impacted society.

In Atlantic City, the situation is absolute mayhem. A staggering number of 3,000 hardworking individuals find themselves without employment, exacerbating the already dire predicament faced by the city's casino workforce. Since the year 2014, a staggering total of 11,000 dedicated casino workers have been unfortunate victims of job loss. Presently, Atlantic City can only boast a mere 7 remaining casinos, signifying a significant decline in its once thriving gambling industry.

Since last July, the workers have been on strike, well before this decision to put an end to the building with Indian architecture. They had already raised the alarm, expressing their dissatisfaction with the umpteenth restructuring plan that the bankruptcy court had approved, as it canceled the collective agreement.

In order to ensure the well-being of the employees, this agreement was established with the goal of securing health coverage and a pension fund, both of which were to be financed by the casino. However, as a result of this arrangement, essential social protection has been eliminated, leaving the employees without the necessary support. Furthermore, their compensation has been significantly reduced to offset the irreparable deficit in the casino's financial records.

The devastating stories of the now unemployed striking workers weigh heavily on our minds, particularly when we consider the immense financial loss suffered by Trump and Icahn. However, our primary concern lies with the casino employees who have lost far more than just a job. It is disheartening to learn that one employee recently lost her husband to cancer, a condition that could have been detected and treated in a timely manner if not for the financial turmoil that deprived her of medical coverage. Each individual testimony serves as a stark reminder of the personal tragedies unfolding amidst this crisis.

Let's make a wager that if Trump were to win the presidency, he would surely learn from the blunders of the past and grow in humility, despite the challenges he may face along the way. While the task at hand may be as difficult as flipping a stubborn page, we can find solace in the fact that Trump has a wealth of experience managing casinos, which requires adaptability and a willingness to learn from one's mistakes. So, even though the road ahead may be filled with uncertainty, we can remain optimistic that Trump's time in office would be marked by personal growth and a newfound sense of humility.

🏆Top Casinos
  • Bonus $300
  • Mobile Casino
  • Multi-software
  • Bonus $200
  • Range of games
  • Customer service
JackpotCity Casino
  • Bonus $/$/CHF 300
  • 1000+ games
  • Top 3 software
Kings Luck
  • Bonus $10,000
  • Mobile version
  • quality games
Tropezia Palace
  • Bonus $100
  • more than 1200 games
  • Betsoft Software
🎓™ Newsletter

Discover the top online casinos handpicked by our team of professionals, offering an abundance of bonuses and completely exclusive deals! Don't forget to provide your name and email to stay informed and never miss out on anything.

💥The casino highlighted this month
  • 100 $welcome bonus
  • ❤ 3 weekly promotions
  • ❤ Quality toy library
Now playing