NEWARK, N.J. - Donald J. Trump's casino empire has filed for bankruptcy protection after months of negotiations with bondholders over restructuring a crushing debt.
Trump Hotels & Casino Resorts Inc. and numerous related operations filed for protection from its creditors under Chapter 11 of the bankruptcy code on Sunday in U.S. Bankruptcy Court in Camden, N.J. The Trump casino business consists mainly of three Atlantic City properties and a riverboat casino in Indiana and are only a small part of Trump's overall real estate empire.
..."I don't think it's a failure, it's a success," he said in the interview. "In this case, it was just something that worked better than other alternatives. It's really just a technical thing, but it came together."
Uh, yeah. I think The Donald has been reading to many Rick Pitino books. You know, success is a choice. Except in this instance, The Donald chose bankruptcy (which apparently to him is success).
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