Belz...
Fiend God
You mean you have no idea of the particulars of this case? It's been all over the news for two years!
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Mueller Investigation pt 6
- Thread starter dasmiller
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You mean you have no idea of the particulars of this case? It's been all over the news for two years!
Belz...
Fiend God
Four times, at least.
eeyore1954
Philosopher
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This is a meme frequently repeated but...
Casinos fail even when not owned by Trump. The Atlantic Club, Showboat, The Sands, the Revel, etc. Many times it is the hotel not the casino that is losing money.
thaiboxerken
Penultimate Amazing
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The fact that he's so good at bankrupting casinos is still valid. He is not a good businessman.
eeyore1954
Philosopher
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I wouldn’t say he is not a good businessman but I agree he made bad decisions in Atlantic City.
uke2se
Penultimate Amazing
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I would say he's a piss poor businessman who should have just had his inherited money invested by a competent investment banker. He'd have been ultra-rich today as opposed to fake-ultra rich.
eeyore1954
Philosopher
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Duplicate post.
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plague311
Great minds think...
Evidence to support this? It can't be that he's rich because we don't know if he's rich. It's been rumored that if he wouldn't have touched his money and invested it he'd have more money.
I've seen nothing to support the statement that he is even an average businessman.
kookbreaker
Evil Fokker
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Most of those casinos were Atlantic City casinos that buckled under competition from newer local casinos that were right in the nearby cities that AC needed visitors from to succeed (the SugarHouse in Philadelphia, for example). The exception is the Sands, which was simply too old during the age of gimmicky megacasinos was in full swing.
All of those casinos had years and years of being profitable before circumstances led to their profits declining.
Trump's casinos were built during the heyday of Atlantic City's run - when the handful of casinos there were crushing the declining Vegas casinos. It was their most profitable time. Trump's casinos had troubles out of the gate, especially the Taj Mahal.
So, yes, while casinos are not pure automatic profit-making machines, Trump managed to make them lose money when all the factors were in his favor. That takes a special kind of anti-talent.
I'm intellectually aware that casinos aren't guaranteed profits makers, but I'll damned if that fact will ever make sense to me.
How do you possibly lose money when your business model is "People give us money, and we give a tiny percentage back... sometimes."
Unless you're running the casino dirty or your expenses are like... through the rough to the point it's laughable I just don't get it.
How do you possibly lose money when your business model is "People give us money, and we give a tiny percentage back... sometimes."
Unless you're running the casino dirty or your expenses are like... through the rough to the point it's laughable I just don't get it.
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Financing the whole operation with high interest junk bonds that you claimed you weren't going to use, in order to get approved, will do that.
The Shrike
Philosopher
*Fool me once; shame on you.
*Fool me twice; shame on me.
*Fool me daily, fool me despite multiple lines of evidence of criminal behavior for decades, fool me despite investigation leading to dozens of indictments and guilty pleas, fool me to the point that I must tie myself in illogical knots to defend this guy, fool me to the point that any suggestion that the obvious crook is a crook causes me to discredit the accuser instead of examine the evidence; and that's a lot of shame.
*Fool me twice; shame on me.
*Fool me daily, fool me despite multiple lines of evidence of criminal behavior for decades, fool me despite investigation leading to dozens of indictments and guilty pleas, fool me to the point that I must tie myself in illogical knots to defend this guy, fool me to the point that any suggestion that the obvious crook is a crook causes me to discredit the accuser instead of examine the evidence; and that's a lot of shame.
The Great Zaganza
Maledictorian
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nominated
kookbreaker
Evil Fokker
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Along with setting up competition with yourself. Yes, many casino groups own more than one casino, but they don't name them after themselves the way Trump did. Who would go to Trump Resorts when the newer Trump Taj Mahal is sitting there. Casinos profits aren't a zero sum game but Trump managed to make it is close to one as he could.
Andy_Ross
Penultimate Amazing
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Trump Tweets
Why are the Democrats not looking into all of the crimes committed by Crooked Hillary and the phony Russia Investigation? They would get back their credibility. Jerry Nadler, Schiff, would have a whole new future open to them. Perhaps they could even run for President!
Why are the Democrats not looking into all of the crimes committed by Crooked Hillary and the phony Russia Investigation? They would get back their credibility. Jerry Nadler, Schiff, would have a whole new future open to them. Perhaps they could even run for President!
Upchurch
Papa Funkosophy
Obvious Troll is obvious.
Actually, casinos return most of the money gambled back to the players. It is one of the things they do to encourage gamblers to keep spending.
smartcooky
Penultimate Amazing
Of course, using your casino to launder Russian money doesn't help
alfaniner
Penultimate Amazing
As of now it's "$40 million!", according to his gaggle speech when leaving for his rally a few minutes ago.
Maybe it'll be $50 MILLION at the rally tonight?
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smartcooky
Penultimate Amazing
With all the fines and confiscations of assets, even at $40m, it still turned a profit of between two and four million US$
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