Trump Casino Piano
The partial piano payment took a huge financial toll, Diehl adds: Losing $30,000 was a big hit to me and my family. The profit from Trump was meant to be a big part of my salary for the year. In 2004, Trump Hotel & Casino Resorts Inc., the parent company of the Gary casino, sought Chapter 11 bankruptcy protection. Trump sought to restructure $1.8 billion in debt, much of it tied to.
© Mark Makela The right to press the button to trigger the implosion of Trump Plaza, pictured in September 2020, will be auctioned off to benefit the youth organization Boys & Girls Club of Atlantic CityAtlantic City will auction off the right to press the button to implode a former Trump casino, all in the name of a good cause.
The Trump Plaza, closed since 2014, was US President Donald Trump's first property in the US coastal gambling town in which he came to own several properties.
The former casino, which opened in 1984, has undergone little to no maintenance since shuttering, and on several occasions during storms, pieces of its exterior have fallen onto the seaside promenade that runs alongside the building.
Since 2016, the two-building complex has belonged to billionaire investor Carl Icahn, who was one of Trump's main Atlantic City financiers.
In mid-June, Atlantic City Mayor Marty Small announced the building's demolition, after taking legal action over what he considered to be a danger to residents.
On Wednesday the mayor announced that the right to press the button triggering the building’s January 29 implosion will be auctioned to benefit the youth organization Boys & Girls Club of Atlantic City.
Trump Casino Piano
'Now is the time to end an era and replace it with something new,' said New Jersey-based Bodnar's Auction.
Icahn has not said what he will do with the land once the building is destroyed.
Trump had already filed a lawsuit in 2014 asking that his name be removed from the building's facade, believing that its presence there was bad for the Trump name and brand.
The former real estate developer has owned up to four casinos in the northeast gambling capital: apart from Trump Plaza there was also Trump World's Fair which closed in 1999, Trump Marina which was sold by creditors in 2011, and the Trump Taj Mahal which closed in 2016.
The subsidiary that ran the president's Atlantic City properties, Trump Entertainment Resorts, filed for bankruptcy three times, in 2004, 2009 and 2014, weighed down by debt each time.
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You can own a piece of the former Trump Taj Mahal.
List Of Trump Casinos
The Atlantic City hotel and casino, which bears the president's name although he sold his stake in it years ago, is being liquidated after shutting its doors in October. Everything is up for grabs -- from clubhouse chandeliers to hotel room TVs.
Trump Casino Demolition
The liquidation starts on Thursday and will continue daily until everything is sold, according to National Content Liquidators, the company that is handling the sale. All items at the on-site sale will be sold on a first-come basis, and an NCL representative told CNNMoney that buyers have to show up in person to make purchases as nothing will be sold online.
The company is selling hotel room furnishings including beds, tables, flat-screen TVs, sofas, lamps and entertainment centers, as well as casinos trappings like game tables, a Yamaha baby grand piano, shoe-shine chairs and crystal chandeliers.
NCL says a 'hotel room package' -- which includes a bed, a chest of drawers, nightstands, lamps, a desk, chairs, a game table, art and a mirror -- costs $300. And they'll throw in a flat-screen TV with the package for an additional $89.
Prices for the chandeliers range from $375 to $35,000 ,and four embroidered Burmese Thai Kalaga tapestries range from $6,500 to $8,500.
Hard Rock International, the parent company of Hard Rock Cafe, bought the Taj in March from Icahn Enterprises, the company owned by billionaire investor Carl Icahn, who said last year he 'lost almost $100 million trying to save the Taj.'
The Taj Mahal was built on the boardwalk in 1990 by Donald Trump. It was meant to evoke the real Taj Mahal in India, and Trump dubbed it the 'eighth wonder of the world.'
The luster didn't last. The casino became a money laundering concern shortly after it opened, according to an IRS settlement from 1998. Trump sold his stake in the casino in 2009, though he kept his name on it -- for a price. Trump Entertainment Resorts, the company that still owned the casino after Trump's departure, had to pay Trump for the right to use his name.
But Atlantic City fell on hard times. In 2014, Trump sued Trump Entertainment Resorts to take his name off the casino. He said in the lawsuit that Trump Resorts had allowed the Taj and its sister casino, Trump Plaza, 'to fall into an utter state of disrepair,' which tainted the 'superior reputation' of his brand.
'We have a very high standard and they didn't meet it,' Trump told CNNMoney at the time.
Trump won the lawsuit and his name came down. Taj Mahal and the Plaza went of business in 2016, joining three other casinos that closed down in Atlantic City, putting thousands of people out of work.