Trump World's Fair casino closure

1999-12-30

Trump World's Fair casino closure

contradicted

Promised: 1996-05-15The company reopened the property as Trump World's Fair as part of its Atlantic City growth strategy.Open cited record · 2 sources
The record: 1999-12-30The public company closed the casino and later demolished the property.Open cited record · 2 sources
Who paid: 1999-12-30Employees, creditors, and shareholders bore the effects of the closure and asset write-off.Open cited record
Trump World's Fair employees
Trump Hotels & Casino Resorts public shareholders
Audit finding: contradicted
The closure contradicted the property's redevelopment pitch and produced a write-off for the public casino company.
Causal strength: documented mechanism

Evidence chronology

promise1996-05-15documented
The company reopened the property as Trump World's Fair as part of its Atlantic City growth strategy.
- 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
Open underlying ledger entry
action1999-12-30documented
The public company closed the casino and later demolished the property.
- 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
Open underlying ledger entry
affected group1999-12-30documented
Employees, creditors, and shareholders bore the effects of the closure and asset write-off.
- 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
Open underlying ledger entry
limitation2003-03-31documented
The property represented one part of a larger casino group that continued operating.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
Open underlying ledger entry

Responses, legal status, contrary evidence, and limitations

limitation
The property represented one part of a larger casino group that continued operating.