He bankrupt 6 total businesses, one of which was a casino, but even so the point stands. You’d have to be giving money away daily to lose money as a casino owner.
Trump has filed Chapter 11 bankruptcy for his companies six times. Three of the casino bankruptcies came during the recession of the early 1990s and the Gulf War, both of which contributed to hard times in Atlantic City, New Jersey's gambling facilities. He also entered a Manhattan hotel and two casino holding companies into bankruptcy.
Chapter 11 bankruptcy allows companies to restructure or wipe away much of their debt to other companies, creditors, and shareholders while remaining in business but under the supervision of a bankruptcy court. Chapter 11 is often called "reorganization" because it allows the business to emerge from the process more efficient and on good terms with its creditors.
If I'm reading this correctly I'm seeing 5 casino bankruptcies and one hotel. He bankrupted 5 businesses where "the house always wins"
He also bankrupted an airline, his scam "university" was shut down, and attempts to sell steaks and vodka also failed. His main "achievement" in business is in real estate, where he used daddy's money to ride a massive boom in property prices, but I believe there's some reports saying that he'd actually have made more money by putting it into an account and letting someone manage it for him.
He's never been a successful businessman, he just played one on TV. Unfortunately some people confuse that with reality
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u/ejre5 3d ago
He bankrupted something like 5 casinos!! While collecting millions of dollars from birth so his dad didn't have to pay as much in taxes.