Trump Casino Out of Bankruptcy

The Trump brand is making money again. (AP Images)

Wow, here's something new, a Trump product that actually coming out of Chapter 11 not going in.

For the third time it's long history, Trump Entertainment Resorts has emerged from Chapter 11.

The announcements came late Friday that the casino company founded by Donald Trump has come out of Chapter 11 reorganization, meaning that while Trump was making millions before, he's going to make gazillions now.

The operator of three Atlantic City casinos said $225 million in new money had been injected into the company, including $125 million intended to be used to reduce pre-petition debt, in accordance with its reorganization plan.

The company eliminated around $1.3 billion in debt through the reorganization (aka hirings and firings).

The Trump casino, founded in the 1980’s, filed for bankruptcy protection for the first time in the 1990s.

This just proves that when rich people file for bankruptcy don't feel sorry for them. It just means they $100 million in their pockets and can't pay back the $200 million bill.

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