Real estate mogul Donald Trump has filed a lawsuit seeking to have his name removed from the Trump Taj Mahal and Trump Plaza.
The egotistical Trump has enjoyed plastering his name on various real estate holdings in the past, but the disrepair of the two casinos in Atlantic City that bear his name prompted the 68-year-old to make efforts to disassociate himself from the New Jersey gaming establishments. Trump is concerned that his name is being tarnished by the current state of both Trump Plaza and Trump Taj Mahal.
Trump Plaza is scheduled to close Sept. 16. While employees of the casino received required notice of the impending shutdown, Trump claims he was not notified, the Press of Atlantic City reported.
Trump’s stake in Trump Entertainment is only 10%, but an agreement allows the use of his globally-recognized name. The lawsuit filed in Superior Court in Atlantic County seeking the name removal argues that Trump Entertainment has breached the licensing agreement by allowing the casinos to become rundown and failing to live up to the
high standards of quality as required in said agreement.
The lawsuit is yet another blow to the Atlantic City gaming industry that has fallen on hard times as of late. Trump Plaza’s scheduled shutdown follows closure of the Showboat Casino slated for Aug. 31. The Atlantic Club shut its doors on Jan. 13 and the Revel Casino may join the others unless a bankruptcy auction set for tomorrow manages to find a qualified buyer.
Online poker and gambling, which was legalized and launched last year in New Jersey in an effort to provide revenue to Atlantic City casinos that have collectively experienced eight years of declines, has also failed to meet expectations in the first eight months of operation. The expected arrival of PokerStars in the state’s igaming regime seems to be the only bright spot on the horizon for the Garden State gaming industry.
Following his graduation with a degree in economics from the Wharton School at the University of Pennsylvania, Trump began a career in real estate under the tutelage of his successful father. He has since achieved celebrity status by producing and hosting
The Apprentice, a reality TV show in which contestants vy to work for him in one of his commercial endeavors.
The success of that show led to airing of
The Celebrity Apprentice that follows the same format of the original TV show, with celebrities competing to work for the billionaire Trump.”You’re fired” became a catchphrase associated with the reality program after Trump disposed of those contestants who failed to meet his high standards.
Trump Plaza and Trump Taj Mahal are also not meeting his requirements. Apparently, a judge will decide whether or not the casinos will also be disposed and no longer affiliated with the Trump name.