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Trump may try to take 'disastrous' AC casinos private: FT

Donald Trump may try to take his unprofitable casino company private, says Britain's Financial Times.

"Donald Trump, the real estate mogul and television personality, is considering whether to rescue his ailing gaming group by taking it private," said the Financial Times, quoting unnamed sources. "Trump owns 24 per cent of Trump Entertainment Resorts, which is struggling to meet its debt obligations and has missed a $53m interest payment.

"The group, which operates three properties in Atlantic City, is saddled with $1.7bn of debt, of which about $1.2bn is bond debt. It could be forced to file for bankruptcy protection if it fails to make the interest payment within a 30-day grace period, which expires at the end of the month.... (Trump) declined to comment on his plans for Trump Entertainment. But he told the Financial Times that the casino industry was "in a disastrous state . . . the worst it's ever been in"..

Trump Entertainment's stock market value "has fallen to just $7m amid concerns about its ability to continue day-to-day operations. Analysts said that a debt for equity swap was one possibility, while Mr Trump might also inject new cash into the business"

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To read about Donald Trump suing Pennsylvania to try to build a casino here, check Philly Clout: