The company that would later be named Trump Entertainment Resorts filed for bankruptcy again in 2009 and was taken over by Avenue Capital Management with Trump keeping a small stake in exchange for lending the company his brand. In 1995, Trump established the Trump Hotels and Casino Resorts, which bought the Taj in 1996. A restructuring forced Trump to give up 50% stake of the business. However, trouble began just a year later and the casino declared bankruptcy. Over two years, he pumped money into the property and prepared it for a grand inauguration in April 1990.
Started by a hotel and casino company, Resorts International, Trump bought Taj Mahal Hotel and Casino in Atlantic City in 1988 for $230 million during his streak of buying casinos. Almost 30 years before he became US President Donald Trump had tried to buy the Taj Mahal’s namesake, a casino in New Jersey, but ended in bankruptcy.
