- President Donald Trump recently posted his “Best Life Evolution Video”
- The social media video flaunts his time in Atlantic City
- Trump ran Trump Plaza, Trump Marina, and Trump Taj Mahal
President Donald Trump’s “Best Life Evolution Video,” an AI-generated montage of his life story, includes flaunting his business successes in Atlantic City. That begs the question, “Was Trump actually successful in the East Coast casino capital?”
In what was yet another hectic and controversial week in the president’s second term in which he signed the One Big Beautiful Bill Act into law and his law enforcement agencies closed the Jeffrey Epstein case, Trump shared a video of his life story to his socials that caused much outrage from the left and his political opponents for being wildly distorted. Though he did, for the first time, seemingly concede that he lost the 2020 election to Joe Biden, the AI-generated video also praises Trump’s Atlantic City casino ventures.
“Took over Trump Organization after graduation from Wharton School of Business — early 1970s,” the video begins regarding his business career. “Built Grand Hyatt Hotel, taking his place in New York real estate — 1980.”
Opened Trump Tower on Fifth Avenue — 1983,” the video continues. “Expanded into Atlantic City casinos. Built properties like Trump Taj Mahal — mid-1980s.”
Trump secured his first Atlantic City casino license in 1982. He opened Trump Plaza two years later, followed by Trump Castle (later, Trump Marina, and today, Golden Nugget) in 1985, and Trump Taj Mahal, his biggest investment in the New Jersey casino town, in 1990.
Trump Atlantic City Tenure
Trump has always contended that his ventures in Atlantic City were successes. But many say that isn’t true.
While the president perhaps came out with a winning hand, many investors, lenders, and workers did not. His properties were indeed major players in the market for a time, but because he took out high-interest junk bonds to construct the casinos, especially true with the $1.2 billion Taj, the resorts were susceptible to market downturns.
Trump’s entities that owned and operated the resorts, including Trump Hotels and Casino Resorts and Trump Entertainment Resorts, filed for bankruptcy five times between 1991 and 2014. Though Trump never personally filed for bankruptcy, his casino companies’ repeated filings put shareholders and lenders out to dry, and as the casinos shuttered, tens of thousands of workers lost their jobs.
Trump lost majority control of Trump Entertainment in 2004 and resigned from the organization as chairman in 2009. Trump’s name remained on the Taj through a trademark deal, though The Trump Organization unsuccessfully sued Trump Entertainment, then owned by creditors, in 2014 to remove his name from Taj and Trump Plaza.
I want it off both of them,” Trump said at the time on claims that the shoddy properties aren’t worthy to bear his name. “I’ve been away from Atlantic City for many years. People think we operate them, and we don’t. It’s not us. It’s not me.”
Trump Entertainment would file for bankruptcy that same year and close Trump Plaza. Billionaire Carl Icahn acquired Trump Entertainment two years later and would go on to close the Taj in October 2016.
Taj to Hard Rock
For Icahn, among the most successful corporate raiders in recent U.S. history, his bet on Trump Entertainment was a loser. Icahn blamed the local casino workers’ union for not working with him to stabilize the Taj and return the property to profitability.
Icahn sold the Taj to Hard Rock International for just $50 million in 2017. Icahn demolished Trump Plaza in early 2021 after the building was declared a safety hazard.
The post Was Donald Trump Successful in Atlantic City? ‘Best Life Evolution Video’ Claims He Was appeared first on Casino.org.
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