A lot of people don't know this

[mothra1orbit]

but in casinos, the odds are stacked in favor of the house. A casino license is almost literally a license to print money. In the 1990s, casinos in Atlantic City were booming, rolling in dough. How dumb do you have to be to lose money if you own the casino? Plus if you refuse to pay the contractors who created the casinos--think of the benefit to your bottom line there.

I think the big mystery about Trump's tax return is how in the hell he managed to lose so much money--how he managed to lose any money at all.

[no_hypocrisy]

1. Trump was a special situation in Atlantic City.

Trump believed that owning three casinos in the same city would given him a near monopoly.

But the three casinos actually competed against each other for profits, thereby depleting the bottom line for each of them.

[Trust Buster]

2. He over-leveraged his casinos by offering high interest junk bonds. He couldn't service the debt.

[jcgoldie]

3. Yes and a lot of people don't know

That Iraq has oil.

[PJMcK]

10. Someone told me water is wet

Is this true? Seriously?

[tblue37]

12. It is--but fish don't know they're wet. They have no clue at all. nt

[Mamajami]

4. I really think the IRS didn't do the job they were supposed to, I believe his losses were 'paper

loses' and not true. Do I think he made money yes, but not the kind he is posting about. What he made was the result of claiming the almost 1 billion in losses.

[BSdetect]

5. Skimming money?

Its a common practice in business.

A friend worked at a bar where the owner took 10% PER DAY off his reported income.

[Wounded Bear]

8. Yeah, big problem in businesses that handle a lot of cash receipts..

or it can be if the owners are unscrupulous. I'm sure Trump has a lot of scruples.

[tblue37]

13. He took all his scruples out with a scruple driver. nt

[Skink]

9. So yeah he is really worth that much it is just hidden.

[brewens]

6. Were I into that kind of gambling, a Trump casino would have been my last choice.

About ever since I heard of him, my business would have went elsewhere. I can imagine his place half empty while all the others were slammed. Maybe it was all him? He puts his name all over everything and screws himself out of millions all by himself!

[PJMcK]

11. Anything with Trump's name on it is to be avoided

Seriously, I won't even play at his golf courses! I don't want one penny of my money going to Donald Trump in any way I can control it.

[Trust Buster]

7. Trump represents the corporate version of a subprime borrower. A casino generally takes in

22 cents on every dollar gambled. A subprime borrower's revenue might remain consistent but the heavy debt load outstrips the ability of incoming revenue to service that debt. Kind of ironic that Right wingers rail against individual subprime borrowers just to call Trump's identical behavior and the resulting bankruptcies a great business strategy. They are phony to their very core.