The Trump Taj Mahal in Atlantic City is a resort that has all but drowned in controversy and drama. The establishment has become synonymous with dodgy deals, questionable decision making, and a veritable boatload of accusation, and is quite the opposite of an elite Canadian brand like Red Flush online casino!
With Trump now being the United States president, the questionable running, and repeated bankruptcy of the Taj Mahal, was one source of controversy constantly referred to, as an example of Trump being a poor businessman, and so less than a fit presidential candidate. Of course, Trump did become president, so his reputation with the Taj Mahal seemed to matter little in the end.
But what really happened with the Trump Taj Mahal? Let’s take a closer look at some of the key points of the situation.
Trump Buys The Establishment
The resort originally started construction back in 1983, then under the charge of James Crosby. As the owner of the neighbouring property, Crosby, head of Resorts International, intended on calling the venture the United States hotel. The budget for the project at this time was a not insignificant $250 million, a bit more than you might win when enjoying online gambling at Red Flush Canadian casino (but not much!). Keep this number in mind as we progress.
Crosby passed away shortly after the project started in 1986, and the United States Hotel project stalled. Those who took over the project, Crosby’s heirs, were not confident about seeing the project through to the end, given their lack of experience. They sought a quick solution to the dilemma.
Trump purchased the project for $79 million, and declared that he would complete the project in an estimated year from the time of purchase, which was 1987. Trump was appointed head of Resorts International. Almost immediately after Trump’s purchase, he declared the budget for construction to be $930 million.
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Things Go Crazy
And this is where the story of the project takes a turn for the bizarre, and confusing. At this point, Trump declared that he would personally finance the unfinished Taj Mahal project, but only if he was granted full ownership of Resorts International. This move raised many eyebrows, given the ballooning nature of the budget, leading many to suspect foul play on the part of Trump. As smart Canadian casino enthusiasts know, a budget is essential when playing at Red Flush online casino Canada, and it seems like most have a better grasp of this than Trump did.
But the story gets even more unusual and complicated. An offer, unexpectedly, came from a television producer by the name of Merv Griffin, to purchase Resorts International. This put Trump and Griffin in a highly publicised battle for ownership. A deal was eventually settled on in 1988, with Trump getting the Taj Mahal project, and Griffin getting Resorts International. Many have speculated that the move may have been premeditated on Trumps part, as a way to get his hands on the project. This is only speculation.
Taj Mahal Opens
Trump financed the remaining funds needed, and the Taj Mahal finally opened its doors in 1990. Glamorous opening ceremonies were held, and Trump billed the casino as the “Eighth Wonder Of The World.”
After a few years of being open, Trump purchased the venue with his own company, Trump Hotels and Casino Resorts, in a deal that valued the project at $890 million, another move that caused controversy.
Taj Mahal Bankruptcy
The Taj Mahal performed well for a few years, but was said to still be on the verge of bankruptcy. Plus, in buying the venue, Trump had taken on an enormous amount of crippling debt. He should have stuck to online gambling at Red Flush Canadian casino instead, clearly.
In 2003 The Borgata opened nearby, followed by The Chairman Tower in 2008, stealing away the Taj Mahal’s much-needed business. The establishment officially closed in 2016 and that was that.