Trump Taj Mahal Casino Opens with $675 Million Junk Bond Debt Crisis

| Importance: 7/10 | Status: confirmed

Donald Trump debuted his third Atlantic City casino, the Trump Taj Mahal, but immediately struggled to make payments on $675 million in high-interest junk bonds used for construction. Financial analyst Marvin Roffman predicted the casino would need to make nearly $1.3 million daily to break even, highlighting the unsustainable financial model. Within months, the casino missed debt payments, setting the stage for bankruptcy and Carl Icahn’s eventual involvement.

Key Actors

Donald Trump Carl Icahn Marvin Roffman Trump Taj Mahal

Tags

trump atlantic-city casino junk-bonds debt-crisis taj-mahal financial-mismanagement

Sources (3)

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