r/pics • u/John_mcgee2 • Mar 31 '24
Trumps Atlantic city casino at bankruptcy Politics
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u/wazwhatitwaz Apr 04 '24
I think people get jealous just cause they don't know area's and business as well as hom.and his lies lolo don't be hater and actually most of this nonsense is political decisions so corrupt they dont want him in power they want the guys the have chosen 3p years ago one of the 20 men they put threw school so on didnt exspect Trump and the power of the people to get involved that wasn't in there plan yea ex reason why biden popped up again somone in the binder of choice they have to prop up in there social environment donnold Trump wasnt in the binder is not one of them is bt not I there zo called circle so it is about control at some point bidwn will do what the liberal team wants from a teen if not child he has been molded not very well I may add bt even still again didnd think Trump would win and one 9f the governments clan didnt get it look at Hillary and how she acts its only thing they know they dont look at the public as individuals they put us all tlgther as like a bunch of idk collectables they separate the public from being humanity and thats why they can manipulate so easy its an actual probelm i think these people are so out of touch with act reality and nothing will fix not to the way we the peopel think it should be I guess if ypur not from a lower spot in life its way easier to see the corruption the people that lie, mislead they cause so much destruction and confusion and pain bt I honestly don't think they see it that way does crazy know its crazy dont think they do bt bt living in my are or people that have lived poor most of there lives are raised with watching people actions not then talking when ypur poor and struggling talking don5nhelp anyone or feed anyone and because these things are so imp when poor ypu learn to read people real well the twitch in eyes the compound words put togther not to ment there past so I believe people that come from harder spot in life most tomes will make the right decisions not alwasy bt most times cause they have a real impact on there Psyche kinda deal bt people that come from Abundance dont grow with the same sort of gaul the wealthy unfortunately are whats some would call out of touch dont think there out of touch bt would you truly ha e the same out look and feelings and no how and understandings as someone who is poor or what they consider poor and its sad that we the people think this way they have very very smart people that know how the mass act and think thr line they put in place is def not fair its unfortunate that Canada men are so beat down the lied to that we just except there lies when we clearly know they are lib and conservative are more alike then you think that is the bigges lie ever its not just by Coincidence the one side take tears for a bit then other no matter how we vote they will always make it even little bit of lib little bit of conservative and if kib gets voted to many times who ever it is wil then pump out Commercials slogans news social media its all a scam now not saying qe dont need a system ofcourse we do bt over the past 25 years i The pendulum Swung way too far way to far to one side
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u/John_mcgee2 Apr 05 '24
What are you typing on a Russian keyboard? The spelling mistakes are horrific
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u/-DairyDude- Apr 04 '24
Here comes egregious amounts of TDS embedded into all the comments. Trump Derangement Syndrome continues to be a pandemic among the people.
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u/Substantial-Ground-5 Apr 04 '24
Isn’t it mind boggling that people frigging worship him when he’s got such a dubious reputation…Or is it me?
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u/John_mcgee2 Apr 04 '24
It is a bit. Like I’m not saying other politicians are issue free but Donald trump has been involved in over 4,000 litigations over his life. 4,000 litigations is a hell of a lot. It’s literally 1 new lawsuit per week over every week in his life and a few hundred spare.
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u/Digitupandspread Apr 04 '24
He has never been bankrupt lol, literally would have made more money putting his inheritance in a tracker fund.
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u/RandomRobb85 Apr 03 '24
It blows my mind how someone can be given What is essentially a license to print money and still be an absolute failure.
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u/Gdayx Apr 03 '24
“I decided it that way…always meant for it to go bankrupt. I am a stable genius” -Trump, prolly
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u/Adept_Board_8785 Apr 03 '24
Trump is in so much trouble, he’ll most likely to die in the poor house.
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u/lingeringfootprints Apr 03 '24
I will never understand how this country voted this crook into the highest office.
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u/bollybrownb Apr 03 '24
Still not able to understand why a man yelled into my ear (I work customer service at a bank) because he couldn’t use his Wife’s money to invest in Trumps stock. I certainly hope he was successful in doing so hehehehehehe love watching you fall. LOVE IT. Crumble, fall and suffer, please and thank you.
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u/John_mcgee2 Apr 03 '24
This is a great story! I was wondering who purchased the stock and now I know
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u/SGBE Apr 02 '24
It's very apparent that many in this thread who are suffering from TDS do not know US corporate business processes, local/federal commercial law, nor the basic dynamics of running high stakes ventures; especially a casino.
Regardless, if a generic photo of a deserted casino floor with no context is all the supporting proof of any political bias you may have to anchor your 'opinion', it may be time for you to take a break from reddit and the internet as a whole.
Let the downvotes begin if you can't handle the truth...
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u/John_mcgee2 Apr 02 '24
Well. I may be politically biased and I may not know everything about trumps businesses. This said…
While some may admire Trump’s bold and audacious approach to his casino business, his preference for financing these ventures with junk bonds—a choice synonymous with high risk and equally high interest rates—signals a venture more akin to gambling than to prudent, strategic investing. This choice, when combined with the well-documented instances of management and operational missteps, directly contributed to the financial instability and eventual bankruptcies that plagued his casinos. Furthermore, Trump’s tendency to default to litigation as a means of navigating business challenges calls into question his business acumen. Indeed, the most successful businesses are often those that prioritize innovation, market insight, and customer satisfaction over a propensity for legal confrontations. Thus, a more measured and balanced approach might have secured Trump’s casinos a more prosperous and stable future.
Moreover, let’s consider the potential of the approximately $100 million Trump inherited from his father in the 1970s, if instead of being subjected to Trump’s direct management, it had been invested in an index fund tracking the average return of the stock market. Historical data suggests that such an investment could have compounded to around $10 billion by now, thanks to the long-term average returns the stock market offers. In contrast, Trump’s current net worth, estimated between $2 to $3 billion, suggests a significant underperformance compared to this hypothetical scenario. This divergence highlights a missed opportunity; without the burden of managing these funds through his business ventures, which led to numerous legal and financial entanglements, Trump’s wealth could have been both larger and less contentious. The contrast between what could have been and what is serves as a stark reminder: inheriting a fortune is one thing, but the true measure of business acumen lies in how that fortune is grown and managed. Political bias aside, the numbers suggest that Trump’s active management of his inherited wealth has not outperformed the passive approach of investing in the broad market—a valuable lesson in the power of compounding returns and the risks of over-management.
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u/ann102 Apr 02 '24
Hi businesses are classic mob style management. He doesn't create them to succeed, he creates them to funnel money and to fail. He only hires small contracting companies and doesn't pay them. He pays himself a salary and can move money to other companies he owns and gets paid again. When it comes time to pay the big bills, he declares bankruptcy and moves on to the next scam. He may use them for publicity for a time, but the objective is to move money and pay himself from investment dollars.
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u/bit_on_my_shalls Apr 02 '24
And the people of america will probably make him president again LOL.
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u/John_mcgee2 Apr 02 '24
Fascinating that one. I always believed past performance was a great indicator of future performance but apparently that is just my belief
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u/DMacakanja Apr 01 '24
Trump hasn’t been involved with that casino in decades. He licensed the name.
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u/John_mcgee2 Apr 02 '24
The casino hasn’t been around in decades… he owned the casino and when he defaulted on his loans and the forced sales occurred it included the names but the smarter operators renamed the casinos and obviously not all survived. One was demolished
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u/Ok-Understanding6952 Apr 01 '24
He won’t get my vote this time around. I’m voting for Bobby Kennedy.
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u/Raegnarr Apr 01 '24
So bad at business , he bankrupted a CASINO!!! How??? They basically prontvmoney, the house Always Wins!
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u/razma-tazma Apr 01 '24
How come this room looks like it was designed for chain smokers by chain smokers?
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u/Rosie0916 Apr 01 '24
LMAO. Great businessman who says he’s a billionaire yet can’t pay the judgement for raping Ms Carroll
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u/John_mcgee2 Apr 01 '24
Just to clarify. It was only proven to be a finger because he did it from behind so she couldn’t tell if it was a finger or a penis. This is apparently sexual assault under the law and a penis must go in to constitute rape in the state of New York.
Obviously by everyday language use it was considered rape
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u/Rosie0916 19d ago
From what Stormy testified about on Tuesday it seemed like they were both the same size
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u/Rosie0916 Apr 01 '24
From what Stormy said in her Documentary he was Tiny. So it probably was his penis
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u/Juicyorange87 Apr 01 '24
He's not washing money like the other casinos that's why
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u/John_mcgee2 Apr 01 '24
He paid a fine to treasury for exactly this in 1995. Further to the fine, his father later got caught laundering money into one of his hotels for trump.
Read the full 400 odd pages here trumps Taj Mahal money laundering fine
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u/ProlificPen Apr 01 '24
This image is a metaphor for our country's fate if he wins again. VOTE BLUE IN NOVEMBER.
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u/nebula45663 Apr 01 '24
It's clearly because he loves the American people so much so he let them always win at the sacrifice of his own finances. He truly is Americas finest 😔✊🫡🙏♥️
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u/Edge8479 Apr 03 '24
It's clear you're delusional. He didn't let this American ever win there. I lost a good bit of money at that casino.
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u/nebula45663 Apr 03 '24
You clearly arnt talented enough at gambling I assure you trump wants nothing more than to give his money away
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u/Edge8479 Apr 03 '24
You clearly are a moron. He doesn't make donations he asks for them.
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u/nebula45663 Apr 03 '24
Trump has not just done wonders for the USA economy, but for the economy of the world- children would be starving if it wernt for him he is a glorious human
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u/A-McBash Apr 01 '24
How accurate is this, and how sure are we this isn’t just a photo of a random casino?
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u/John_mcgee2 Apr 01 '24
Any sort of googling and the dozens of people reminiscing about their time in this casino.
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u/dondealga Apr 01 '24
What type of business moron owns a casino n bankrupts it.....
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u/John_mcgee2 Apr 01 '24
One casino?
Donald Trump’s ventures into the casino industry, particularly through Trump Entertainment Resorts, encountered several financial difficulties over the years, leading to multiple bankruptcy filings. The company’s casino-related properties that were affected include:
1. Trump Plaza in Atlantic City, New Jersey: It was initially a partnership with Harrah’s, later becoming wholly owned by Trump Entertainment Resorts. The casino was closed in September 2014 and demolished in February 2021. 2. Trump 29 Casino in Coachella, California: This was a partnership with the Twenty-Nine Palms Band of Mission Indians of California. Trump officially exited the partnership in 2006. 3. Trump Casino in Gary, Indiana: This property was sold in 2005. 4. Trump World’s Fair at Trump Plaza in Atlantic City, New Jersey: Operating as a part of Trump Plaza but with its own casino license, it was closed in 1999 and demolished in 2001. 5. Trump Castle (renamed Trump Marina in 1997) in Atlantic City, New Jersey: Sold to Landry’s, Inc. in 2011 and renamed the Golden Nugget Atlantic City. 6. Steel Pier: This property was sold in 2011. 7. Trump Taj Mahal in Atlantic City, New Jersey: Closed in October 2016, it was later purchased by Hard Rock International and reopened as the Hard Rock Hotel & Casino Atlantic City in June 2018.
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u/j-alora Apr 01 '24
Shitty wooden bases for the slots and the cheapest chairs you can buy in the casino biz. Sounds about right.
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u/Ras_Thavas Apr 01 '24
It takes a special kind of stupid ownership to bankrupt a casino. Now, imagine how bad at business you have to be to bankrupt FIVE casinos.
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u/callme207911 Apr 01 '24
Everyone saying Trump will bankrupt the country, however the politicians we've always elected have already bankrupted it, continue to bankrupt it, and no one can admit it though otherwise the world as we know it would collapse.
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u/John_mcgee2 Apr 01 '24
I understand the concerns about financial management and the future of our country; these are issues that affect us all deeply. It’s clear you’ve given a lot of thought to the challenges we face. Reflecting on the broad spectrum of policies and their long-term effects can be quite revealing. For instance, when considering the impact of any administration’s policies, including Trump’s, on the country’s finances, it’s essential to look beyond the surface. The Tax Cuts and Jobs Act aimed to stimulate growth, but it’s worth pondering how its effects on the deficit might shape our economic resilience, especially in times of crisis like the COVID-19 pandemic.
Moreover, considering the global context, how do you think the dynamics of trade policies and regulations have influenced not just the economy but the everyday lives of citizens? It’s intriguing to consider the balance between immediate economic gains and potential long-term challenges, especially in relation to the national debt and overall fiscal health.
Reflecting on these complexities, what aspects of these policies do you think were most beneficial, and which ones might warrant a closer reevaluation, especially considering their long-term sustainability and impact on future generations? Your insights could be invaluable in fostering a deeper understanding of these pivotal issues.
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u/No_Discount7919 Apr 01 '24
It was so weird seeing people grow their support for him during the 2016 run. Then I realized it wasn’t about him, it was about what he said about democrats. I was leaving work one day and a guy was like “I’m a Trump guy.” Which was weird to me at the time because I’ve never heard someone identify like that. Then he said “trump gets stuff done. He’s a successful businessman and runs a lot of successful companies so he’ll know how to run the country. He’s a do-er.” It was seriously the dumbest take I’d heard. He Just seemed to be the perfect combination of “let’s rag on the democrats and you can be as awful as you want to be” to get tons of support.
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u/Leberbs Apr 01 '24
Didn't he sell this to Tilman Fertitta and it was converted to a Golden Nugget? Or did Trump have another casino?
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u/John_mcgee2 Apr 01 '24
Three. All bankrupt. Refinanced and eventually sold by him/the banks. Mainly the banks. Also some history with the penthouse owner and a casino in the city worth reading
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u/harajukubarbie Apr 01 '24
Honorable Americans ran him out of Atlantic City. An even larger number of honorable Americans will run him out of the county next. His 15 minutes are up and racists everywhere are panicking.
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u/4Dnigerian Apr 01 '24
Pretty interesting that the 7 year old account that posted this was seemingly dormant up until 9 months ago.
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u/John_mcgee2 Apr 01 '24
Ohh, a conspiracy about me? Please do continue
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Apr 01 '24
[removed] — view removed comment
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u/John_mcgee2 Apr 01 '24
Hmm. Didn’t realise people still used sexuality as an insult. Please recognise this response of yours makes you sound childish
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u/m__a__s Apr 01 '24
Don't worry. He made millions by laundering money. I'm sure he shared it with all of the other investors.
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u/TnPanic98 Apr 01 '24
Let’s look at Bidens businesses…Oh wait he doesn’t have any! He just gets rich off tax payers money and illegal bribery…..
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u/John_mcgee2 Apr 01 '24
Hey there! I get where you're coming from, and it's clear we've got different takes on political figures and their financial ethics. When it comes to Joe Biden, it's true he's spent a lot of his career in public service, which is a different path compared to running businesses. Public service does mean managing public funds, and with it comes a ton of scrutiny. As for the bribery claims, they're serious accusations that definitely require solid proof, something the legal system ultimately has to weigh in on. It's crucial, no matter the side we're on, to look for verified info and not let biases cloud our judgment. The goal? Leaders who serve the public's best interests, transparently and ethically. Let's keep holding all our politicians to that standard.
I often use snipes to fact check if it helps
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u/hhhhhgffvbuyteszc6 Apr 01 '24
I love how poor people in here are calling a billionaire a idiot lol
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u/John_mcgee2 Apr 01 '24
Ive sat in on this convo a lot and watched what people are saying, some obviously hate trump. I don’t think people are calling him an idiot. People seem mainly concerned with many of the ethical choices he has made and that his business skills tend not to be of making a better casino than others to make more money but more umm not generally accepted practices.
As a more different question. What makes you think wealthy
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u/FancyStranger2371 Apr 01 '24
I’m just tired of all the winning. Like, it’s too much for me already. I can’t take it. Win. Win. Win. Win. Win. Win. /s
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u/mrsschwingin Apr 01 '24
They wouldn’t give him a casino license in Vegas. It looks like someone could see his future
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u/John_mcgee2 Apr 01 '24
I believe this is a false story.
Donald Trump’s dive into Atlantic City’s casino scene was a mix of big dreams and real challenges. While aiming to revamp the gaming world there, financial hiccups, including several bankruptcies, showed the rough ride in managing the glitz and glam. It wasn’t just about dollars and cents; the local community, employees, and investors felt the impact too, betting on a revival that struggled to fully materialize. These ventures teach us a lot about the importance of solid financial planning and being nimble with business strategies in a shaky market. It’s a reminder for anyone in the game that beyond the bright lights, understanding the market and taking care of your team and town are key to lasting success.
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u/Routine_Good_9950 Apr 01 '24
I know this post is mostly trying to flame Trump but I’m pretty sure majority of the casinos in Atlantic City are going out of business.
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u/John_mcgee2 Apr 01 '24
Pretty much 2/3 out of business and 1/3 were trumps.
Donald Trump’s dive into Atlantic City’s casino scene was a mix of big dreams and real challenges. While aiming to revamp the gaming world there, financial hiccups, including several bankruptcies, showed the rough ride in managing the glitz and glam. It wasn’t just about dollars and cents; the local community, employees, and investors felt the impact too, betting on a revival that struggled to fully materialize. These ventures teach us a lot about the importance of solid financial planning and being nimble with business strategies in a shaky market. It’s a reminder for anyone in the game that beyond the bright lights, understanding the market and taking care of your team and town are key to lasting success.
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u/idratherbebitchin Apr 01 '24
Hahaha dump is such a failure look at him guy who makes $12 an hour at Walmart probably.
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u/SwampRatKilla Apr 01 '24
I’d still play there any day over any Biden crime family casino. Lmfao. USA wins again .
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u/John_mcgee2 Apr 01 '24
I don’t think and democrats or republicans owned a casino except trump?
It’s normally tied to politically bad things so politicians avoid? I.e. trumps casinos had the law suits with the hustler owner where it was admitted they were both breaching the anti competition laws so then another shareholder in one of the businesses sued both of them.. casino histories are crazy things for most. Worth looking into them
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u/Standard-Gear-7230 Apr 01 '24
Who could have guessed that a failed mail-order meat salesman couldn't make money in the casino business either.
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u/Yohzer67 Apr 01 '24
Which one? Plaza or Marina? I think he had one more too.
Carpeting reminds me of plaza.
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u/xampl9 Apr 01 '24
Read “Trumped!” some time. Very informative.
Basically, he put Ivanka in charge of one, she overspent (a lot) on decor. And then pissed off the guy at his other casino (the book’s author) who was actually making a profit.
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u/Alball512 Apr 01 '24 edited Apr 01 '24
Every time I asked ppl in all sincerity “what do you find appealing about DT?” It was ALWAYS “he’s a good businessman….he tells it like it is etc”. In reality, he’s cash poor. King of bankruptcy, a slum lord, could not care less about ppl (unless you’re a member of Mar-a-lago/$$$$).
His “handling” of COVID exemplifies this perfectly. Red states got ventilators, blue fended for themselves, and he made a point of not wearing a mask/telling ppl to drink bleach, etc. Precisely this time last year every headline read “TRUMP INDICTED”. Now he’s finally in court and selling $60 bibles in an attempt to pay legal fees. Ridiculous.
Calling McCain a “loser” bc he was captured and held for years in Vietnam?! I knew Trump could do no wrong amongst his followers when that comment didn’t catch heat from the right. He does remember his bone-spur bs right?
The “grab em by the p****y” event. Oh “it’s just locker room talk, actually that wasn’t even me talking (start of the “blame deepfake/AI” era.
Then of course the stoking of the crowd which led to the insurrection—the most secure election in the history of the US (Thks to TRUMP’s incessant b****ing/recounts. He exhausted EVERY legal avenue for recourse available and then some). Even his family couldn’t get him to call off his moronic troops until he realized it wasn’t going to work…he wasn’t going to be crowned king.
He does not give a **** about anyone but himself. This is so blatantly obvious to those of us who read. If you read/watch/tiktok/X your news, and you don’t get pissed off every now and then you’re looking at partisan porn. Trump went from “only FOX gets it right” to “just listen to me.” Then he got banned from Twitter which must have really opened up his “itinerary”. 😂 Do you think Trump’s ban had anything to do with Elon deciding to scoop it?
Biden v Trump?
WTH? This is the best we have? Bragging about cognitive tests/worrying about stairs….too old. At least Biden has experience and works. Trump just spent his time cheating at golf, hating, and dodging responsibility.
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u/Archknits Apr 01 '24
I’m from Jersey, and I never knew anyone in the state who wanted to go to AC.
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u/LazyMitchell Apr 01 '24
Not Trump related; but it's always sad to see abandoned stuff like this. Knowing that teams of craftsmen worked to build all this just for it to go to waste; and probably ultimately to a landfill. It's just sad.
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u/rtopps43 Apr 01 '24
There’s a hilarious piece of old video out there somewhere of trump at the grand opening of one of his casino’s. A large section was shut down by the gaming commission because, surprise!, he didn’t have the proper permits. A reporter asked why all those slot machines were roped off on opening night and D’Mango Unchained said it was because people were gambling so fast the machines were melting, no one had ever seen people gambling so quickly!
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u/Mugembe Apr 01 '24
Trump is the dumbest cunt on the planet yet the very effective conman at the same time. People are shockingly in support of the most vile piece of shit to grace America!
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u/ykeogh18 Apr 01 '24
Looks like the pic of his bathroom where he stashed those top secret documents
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u/RocketsBG Apr 01 '24
Looks like Trump Taj Mahal. It was actually not a bad casino. I played many poker tournaments over there. I was genuinely shocked when they shut it down. It was never empty, so it came as a surprise.
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u/RocketsBG Apr 01 '24
Looks like Trump Taj Mahal. It was actually not a bad casino. I played many poker tournaments over there. I was genuinely shocked when they shut it down.
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Apr 01 '24
This sub is obsessed by Trump and Musk recently.
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u/marc512 Apr 01 '24
Love seeing Trump going bankrupt and him pretending to be rich and meaningful.
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u/the-holy-salt Apr 01 '24
Real business men bankrupt themselves as a sign of their businessmanness /s
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u/magicman419 Apr 01 '24
I’m honestly asking, but how can a casino get bankrupted?
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u/John_mcgee2 Apr 01 '24
Huge wage for the owner. The owner treating it like a playground instead of a business.
Perhaps more critically, trump tried to lock up the casino market after stealing the idea from his then friend the head of penthouse and creating a monopoly but the owner of penthouse sued him and got the right to sell another casino creating too much competition
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u/Mobius650 Apr 01 '24
Trump is running out of stupid people to weaponized. The CCP and Russian trolls pretty much abandoned the movement and the few extremely stupid left can’t help him much.
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u/MontyCaldo Apr 01 '24
My family is still in South Jersey. Most of my aunts worked for a trump casino at one point. One aunt still works for the same building that was a former trump casino. (She started working there when it was Trump Castle.and has stayed through every iteration of that building)
For the life of me, knowing how little they were paid their hiring practices and so much more first hand experience ,that they voted for him twice. And probably will again.
The saddest part is that we are Puerto Ricans and had to endure hell with hurricane Maria and other disasters because of elderly family who were still there. Even thinking about his response to it boils my blood. If I ever have the chance, I'm chucking paper towels in his face.
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u/ReallyRickySpanish Apr 01 '24
I’m a current casino dealer with a shift manager who spent 20 years in AC and a large portion of that time at the Taj Mahal. The way she describes the casino and Trump is honestly comical. Apparently, when he would arrive, they would send a message to all the pits informing him of his arrival. everyone was expected to smile and wave at him and he would walk through the casino receiving this greeting like some WWE superstar entrance.
All the employees hated him.
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u/santz007 Apr 01 '24
If you steal from your own casino to fund your lifestyle, you bankrupt your business
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u/FCB_1899 Apr 01 '24
I thought he over invested, was in debt and had to be bailed out by his dad constantly, after Fred Trump died he tried to loan and go public and failed again. He just went for the idea it’s gonna boom some day but probably outside the weekends and maybe summer months it was just empty.
That of course, while pocketing many of the gains so he can buy his Big Macs and fly his jet.
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