The Trump Plaza Hotel & Casino in Atlantic City closed on Sept. 16.
Because the Trump name can only be associated with quality real estate and crass, cash-in reality shows stocked with F-list celebrities vying for one last chance at fame, Donald Trump has apparently succeeded in having his name removed from at least one of two sinking Atlantic City casinos.
We told you in August how Trump was suing to have his name removed from both the Trump Taj Mahal and the Trump Plaza in the New Jersey seaside town, saying that both properties had lost the right to use his name.
The intriguingly coiffured mogul no longer owns the two casinos. They are owned by Trump Entertainment Resorts, a company that its namesake effectively exited (holding only a 9% stake) in 2009 following the company’s third go at bankruptcy.
Trump Entertainment was allowed the company to continue using the Trump name on the two casinos, but reportedly on the condition that they continue to meet certain quality standards. In the lawsuit, The Donald maintains that the properties failed quality-review inspections by third party evaluators and don’t meet industry standards regarding hotel services, food and beverage operations, and overall cleanliness.
The Trump Plaza recently shuttered, and the Taj Mahal may close within the next month. It’s possible that the actual Trump may swoop in to rescue this casino, which he once touted as a paradigm of luxury.
This morning, Donald’s daughter Ivanka Trump told the AP that her last name will soon be removed from the Plaza.
“This is a very important step for us,” said Ivanka. “It was pretty cut and dry: when we gave them a license to use our name, it was contingent on quality control and performance. They did not meet the high standards of luxury in every other asset in the Trump brand.”
Trump Entertainment is currently asking a Delaware bankruptcy court for permission to terminate the pension plans of the approximately 2,800 Taj Mahal staffers. The company says that if it can’t significantly cut costs and get an injection of cash, it will have to close in November.
by Chris Morran via Consumerist
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