Atlantic City’s Taj Mahal may seek bankruptcy protection
Posted on Monday, September 22nd, 2014 at 6:27 pm
Atlantic City-based casino and resort, The Trump Taj Mahal, reportedly may seek bankruptcy protection in order to be able to reorganize their debts, an article on New York Post stated September 3.
According to reports, Trump Entertainment may possibly file for Chapter 11 bankruptcy after failing to settle their loans with creditors. Local casinos are suffering economic woes likely stemming from stiff competition in Pennsylvania and Delaware. Trump Plaza will also shut down, reducing the number of casinos at the once popular seaside destination from 12 at the beginning of the year to only eight. Some are worried more will close their doors soon.
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