Debt decision day for Trump casinos

February 17, 2009 4:40:00 AM PST
Tuesday marks the latest deadline for Donald Trump's former casino company to reach a new deal with bond holders to restructure $1.25 billion worth of debt.

But with The Donald having resigned from the board of Trump Entertainment Resorts Friday night out of frustration with the bondholders, the prospect of a deal that will let the company and its three Atlantic City casinos avoid a third trip through bankruptcy court are looking dicey.

Talks have already been extended four times in an attempt to reach a deal to give the company some financial breathing room.

In quitting as board chairman, Trump said bond holders and their allies on the board are wrecking the company.

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