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Trump Taj Mahal

On Friday, the three Trump casinos in Atlantic City, New Jersey, emerged from their third bankruptcy, after cutting company debt by $1.3 billion following a restructure of the business. The Taj Mahal, Trump Plaza and Trump Marina were all part of the Chapter 11 bankruptcy filing, which allowed the owners of the casino resorts to “restructure” the business and improve the financial state of the company. Friday’s court transaction has officially confirmed that that Trump Entertainment Resorts, the company behind the casinos, has fully emerged from bankruptcy and now has over $250 million in equity.

Speaking to the press, Marc Lasry, the new chairman of Trump Entertainment Resorts, suggested that the casino operator “today begins a period marked by new financial strength”. While Donald Trump’s stake in the business was heavily reduced while the company was re-organised, he still retains a 10% stake in Trump Entertainment Resorts. According to Associated Press, the casinos will still be able to use the name and likeness of Trump, as well as that of his daughter, Ivanka.

Have you visited any of the Trump casinos recently? Do you think they can compete with other casinos in the area? If you have an opinion on this story, we'd love to hear from you.

32Red Casino

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Casino Chips

A former resident in Kansas City, Missouri, has been charged with passing fraudulent casino chips at the Argosy Casino, also in Kansas City. Zhe Li, who now resides in Wichita, is believed to have used over 1,000 $100 chips at the Argosy casino and directly cashed some in, as well as using them to wager on table games.

It has been alleged that Li carried out the scheme during two months in 2008 and was only caught when a cashier at the Argosy Casino noticed that Li’s counterfeit chips were slightly thicker than those normally used at the gambling resort.

According to information released in court, it’s believed that Li regularly moved amounts of less than $10,000 into his bank, in an effort to avoid triggering government checks. It has also been alleged that Li moved funds from the casino crime into a bank account in Florida, in order to pay for a Hummer H3 he had recently purchased. According to information released during the indictment hearing, Li also allegedly informed a social services worker that his family didn’t have access to money or vehicles, allowing them to claim over $2,500 in food stamps. Judge Karen M. Humphreys has instructed Li to attend court on August 4th, where he will face charges relating to transporting funds from fraud across state lines, making false statements in order to receive food stamps and structuring bank deposits to avoid reporting restrictions.

bet365 Casino

Currently, when you wager £10 on a slot machine at bet365 Casino, you’ll receive three complimentary points. Collect 1,000 of these points and you can convert them into a casino chip worth £1, which you can then wager in the casino or withdraw. While slots players already enjoy preferential rates on complimentary points at bet365 Casino, on the 21st of July you can claim double comp points.

Simply put, for every £10 you wager on slots at bet365 on the 21st of July, you’ll receive six complimentary points instead of the usual three. This increase in complimentary points means that you can collect points quicker, which can then be converted into casino chips. The casino’s double complimentary points offer is only available for one day this month, so to take part, remember to visit bet365 Casino on the 21st of July. More details about this promotion are also available on the casino website.

Riviera Hotel and Casino

The owner of the Riviera Hotel and Casino resort in Las Vegas has filed for bankruptcy, in an effort to restructure the company’s debt and hand over ownership to secured lenders. Tullio Marchione, general counsel for Riviera Holdings Corp (the company behind the Riviera casino resort) has suggested that by reaching an agreement with lenders, the casino operator is in the best position for the future and will provide the company with “a viable capital structure as well as additional financing”.

It’s believed that the Riviera Hotel and Casino has faced intense pressure due to the unstable economic conditions in Nevada and the United States as a whole. In particular, the operator has drawn attention to the casino’s position on the Las Vegas Strip, proposing that the Riviera is located in an area that attracts very few visitors.

A statement issued by the Riviera management has suggested that during the recent economic boom, buildings at the north end of the Las Vegas Strip (where the casino is located) were demolished to make way for new construction projects. However, after the recession ravaged the finances of businesses and consumers alike, building plans to the North of the Strip were left abandoned and unfinished. Riviera Holdings Corp believes that the empty space surrounding the casino resort has had a “considerable” impact on the company’s finances.

Riviera Holdings Corp has made clear that the bankruptcy filing will have “no effect on our employees, vendors, and most importantly, our customers”.