Trump Taj Mahal sells for 4 cents on the dollar

[BeyondGeography]

Source: NJ.com

ATLANTIC CITY -- President Donald Trump's lavish Trump Taj Mahal in Atlantic City has been sold for 4 cents on the dollar, representing a mere fraction of the $1.2 billion that it cost to build in the '90s.

Hard Rock International purchased the shuttered casino in March for $50 million -- a price tag revealed from Carl Icahn's filings with the Securities and Exchange Commission, according to a report by The Associated Press.

Hard Rock plans to spend $375 million to renovate the casino and expects to reopen it in 2018, previous reports said.

When the Taj Mahal opened in the '90s, Trump called it "the eighth wonder of the world." But in 2009, Trump severed most of his ties with Atlantic City while his casino company was going through its fifth bankruptcy filing. He relinquished his final stake in the business when Icahn acquired it from bankruptcy last year.

Read more: http://www.nj.com/atlantic/index.ssf/2017/05/trump_taj_mahal_sells_for_4_cents_on_the_dollar.html

[NewJeffCT]

1. What a great businessman!

let me guess, Trump made out okay, but a lot of his investors got screwed.

[PJMcK]

8. Not "a lot of his investors"

All of them.

[IronLionZion]

2. How much will he sell our country for?

[William Seger]

3. Great picture ;)

[trusty elf]

7. Indeed!

[Bengus81]

4. Maybe he can get 4 cents on the MILLION from Mexico for the wall....

And then break out the Bud Light with his ilk and declare success.

[Achilleaze]

5. russians pleased that so much of their ill-gotten cash was laundered

through the republican Draft-Dodger-in-Chief's FAKE CASINO.

[George II]

6. I wonder how much NJ taxpayer money Christie pissed away propping up that casino....

...along with the other Atlantic City casinos.

He signed off on the state paying $250 million to the Revel casino which went out of business less than a year later. He is clearly in the pocket of the big casino operators.

[Turbineguy]

9. Trump doesn't worry

It's somebody elses' dollar!

[benld74]

10. This is nothing

Compared to the losses our country

Has had
Will have
Will continue to have

Because if DT
And his minions

All will come out

[keithbvadu2]

11. Trump family member Jared was selling visas for far more than that.

Trump family member Jared was selling visas for far more than that.

[greyl]

12. kick nt