The Real Deal New York

Donald Trump explains why Atlantic City is failing: VIDEO

Billionaire developer lays out why casino town is in big trouble

August 14, 2014 11:00AM

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From left: Donald Trump and the Trump hotel and casino

From left: Donald Trump and the Trump Hotel and Casino in Atlantic City

Real estate mogul Donald Trump, whose name adorns multiple Atlantic City buildings, said that after he left the town “that’s when it went bad.”

While Trump said he was “honored by that statement,” the billionaire said he is mostly sad for the current state of affairs in the beach town. The troubles, said Trump, are mostly caused by too much competition and what he described as the “wrong location” for the convention center.

“Atlantic City was a place I really loved,” Trump said.

Earlier this week, Revel — the most expensive hotel and casino in Atlantic City – announced it will be closing in September. Three other casinos in the town are closing, too. [Bloomberg News] and [Business Insider] – Claire Moses

  • DTNYC

    You mean AFTER your Casinos went bankrupt, not once, not twice, but THREE times? And then you left! Is that it???? What a blowharded buffoon!

  • Proper

    controlled interview meant to manage the TRUMP brand, just Trump dissociating himself from A.C. some BS statements that a real interview would have called him out on

    some people say when i left A.C. went bad

  • American Gaming Guru

    He makes some interesting points and some are accurate. The convention center is too small, but the location is right in the middle of town (adjacent to the rail road station) and spurred an unbelievable amount of redevelopment in the heart of the city. So the placement/location of it generally accomplished what everyone had set out to do. The existing convention center he references just so happens to be ATTACHED to Trump Plaza. But Trump himself is a major reason for AC’s failure. DTNYC points out that his hotels went through various rounds of BK. Donald took the cash out of the operations and virtually never re-invested in the hotels thus leaving the current creditors with the bad (outdated resorts) that can not compete with newer ones in emerging markets. If they continued to expand and offer new amenities they might have been able to fight off a good portion of the convenience halls in adjoining states. Proper is absolutely right! A real interviewer would have brought this all up.

    • Guest

      He was busy propping up his other failures. Don’t forget that Citibank foreclosed on his failed airline Trump Air,, his failed Department store (Alexanders), his yacht, the Plaza Hotel. He also was forced to sell the West Side development that because Riverside West so thigh his name is on many of the buildings he not virtually nothing to do with it and everyone else made the big bucks! Some Businessman! The Casinos saved what remained of his empire and then he turned his back on them.

    • DTNYC

      He was busy propping up his other failures. Don’t forget that Citibank foreclosed on his failed airline Trump Air,, his failed Department Store (Alexanders), his yacht and the Plaza Hotel. He also was forced to sell his vacant 40 acre West Side development to raise cash. Riverside West became a high success so though his name is on many of the buildings (he retained a small interest) he had virtually nothing to do with it and everyone else made the big bucks! Some Businessman! The Casinos saved what remained of his empire and then he turned his back on them.

      • American Gaming Guru

        I knew that as well and thanks for pointing it out. Also add in Trump Air (helicopter airline) and Trump Plaza of the Palm Beaches (condos).

        • American Gaming Guru

          I figured you were referring to the Trump Shuttle which he had to tun over to the banks.

          • DTNYC

            Oh, and Citibank took over the unsold Condos at the Trump Palace on 3rd Avenue AND it put him on a monthly allowance! LOL!!!! Let’s not bring up his utterly failed Condo in Tampa where the foundation was sinking and his defense was “Duh, I only sold my name, I have nothing to do with this!” He’s a racist, Bigoted, Ignorant and therefore the perfect Republican spokesman.

      • Marc

        What an insanely angry, jealous and sick loser you are. You seem to be an expert on Trump then perhaps point out his success. He is a man worth Billions of dollars. If you had a brain or did anything in your life besides play in mommy’s basement you’d realize that with most successful people comes failures along the way. It works that way with most things people do in life but you’re schooled in everything Trump does in his life. You poor obsessive and angry loser. I guess next you shoot yourself. It really sucks to be you.

        • DTNYC

          It’s actually great to be me! I was there when we FORECLOSED on him! He was saved because we let him keep his casinos and then he ran those into the ground. LOL! Now he is best known as being a Racist and a Bigot. His children must be horrified and so ashamed.

          • Marc

            “we FORECLOSED on him!”
            “great to be me”, “Racist”, “Bigot”
            silly little boy. Keep seething with jealousy. Worth min. $4 Billion by the most conservative estimates, not Trump’s.
            It’s great to be you? When I see the exclamation points I feel your anger.
            LOL.

          • DTNYC

            You’re clearly an idiot. If there was anyone I wouldn’t want to be it’s Trump……oh, and you!!

          • Marc

            You’re clearly an idiot. If there was anyone I wouldn’t want to be it’s You……oh, and you!!

  • DTNYC

    Not mentioned is that the state nor the Casinos made any REAL effort to turn the actual city of AC into a destination of its own, separate from the casino. It was and remains today a big slum WITH Casinos. There are far nicer places to vist that are closer to home and THAT is the biggest problem AC has and one that is too late to deal with.

  • truthordare

    @donaldtrump LOL

  • irock

    the kids and Jkush must be so embarrassed

  • Gambling Lesson…

    The “House” does not always win.

  • jason

    I think Atlantic City should be named
    TRUMP CITY. When Trump left Atlantic City it fell
    apart.

  • HENRY

    Trump should be ashamed of himself
    for some of his business dealings.
    He takes whatever he can get away with.
    Because of him many people have lost lots
    of money. When the TAJ was built he was selling
    junk bonds for over 19 percent .People had to me real
    morons to invest in them .That should not even have been
    legal. Somebody had to know that the TAJ would not
    bring in enough revenue to pay over 19 percent interest
    to the bond holders.In this country you can get away
    with almost anything. Legal or not legal it does not
    make a difference. Just look at wall street.
    Nobody does anything about it. , or knows how
    to do to anything about it.This country is in
    very bad shape and it keeps getting worse.

  • Jill Stone

    Mr. Donald Trump is one of the most clever persons or at least he surrounds himself with the best. I have been told that one would have to be a foolish to do business or best this extraordinary person especially if you want to get paid or achieve a return on investment. It seems to me that these comments reinforce of his superb abilities to extricate himself and apparently deny responsibility for his companies conduct. It is always a pleasure to see his publicist keeping him in the news. They are to be admired. He always comes out, but not others.I know of one who bested him and he took it badly, very badly. Denial is the longest river in Africa. Donald you are one of the very best. G-d bless you. An admirer.

  • johnson

    Atlantc City is a slum
    It is extremely dangerous to walk the street
    there. The casinos did nothing to help
    make it a safe place. Most likely many more
    casinos will close in Atlantic City.
    With an average car fro New York City
    to Atlantic city with tolls and gas it is
    about 75.00
    Why would anyone do that when they have
    casinos in their own back yard?

  • Bozzy Lewis

    For one thing, there were too many casinos in Atlantic City ! The boardwalk and surrounding area was saturated with them….. Too much competition ! This along with a sluggish economy, internet gambling and other casinos in PA and NY made it impossible for all those huge casino/hotels to turn a profit.

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