Riviera shares and option arrangement
What happened
promisedocumented The public company presented investment decisions as serving its casino business and shareholders.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 1996 Form 10-K1997-03-28 · Business, acquisitions, debt, compensation, and related-party sections
actiondocumented The company acquired Riviera shares while Trump obtained a disclosed personal option tied to the position.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
- The New York Times via U.S. House Judiciary Committee record: How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions2016-06-11 · Pages 2-9: financing, related transactions, bankruptcies, and outcomes
outcomedocumented The company and Trump held overlapping economic interests in the Riviera investment.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
limitationdocumented The arrangements were disclosed, and the filing does not adjudicate a fiduciary-duty violation.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
People and organizations
- Trump Hotels & Casino Resorts public shareholdersaffected party
- Donald Trumpbeneficiary
Assessment
The filing documents Trump and Trump Hotels & Casino Resorts holding overlapping interests in the same Riviera investment. On its own it does not establish a usurped corporate opportunity.