The Donald Looks To Regain Control of Trump Casinos
Donald Trump Hates to lose. Earlier this year he lost when he tried to buy the casino company and take it private. Now he’s looking to regain control of the company that still (obviously) bears his name.
When his offer to buy the company and take it private was spurned in February by board members allied with bondholders, Trump resigned as chairman, saying his stock was now “worthless to me.” His daughter, Ivanka, also resigned from the company’s board.
Mark Juliano, the company’s CEO, said Tuesday the board will weigh the two competing offers for the company and does not plan to formulate one of its own.
This move follows in the footsteps of fellow investor Carl Icahn‘s foray back into the casino game. I don’t think this isn’t coincidence. Trump must think that he can buy these assets at a deep discount like Icahn did. Perhaps this is a signal of the beginning of the end of the recession.
There are 45 days left to consider Trumps plans, so I’m sure there will be more news to follow.
