Donald Trump's Casino Files for Bankruptcy

by Elizabeth Fairview | February 17th, 2009

Donald Trump is feeling the pinch. (Flickr Images)

You know times are hard when Donald Trump is going down.

Trump Entertainment Resorts Inc. filed for bankruptcy this morning in a New Jersey court. The company had until today to reach an agreement with bond holders to renegotiate $1.25 billion in debt. This is the casino group's third time in bankruptcy court since they've been unable to pay a $53 million installment on their giant loan.

Trump is a 28% shareholder in the casino group and resigned from the board on Friday.