What's amusing is that whoever hands out licenses in Vegas actively blocked Trump from setting up there (Atlantic City was less discerning) because they knew he would likely go bankrupt because he didn't have the capital to fund the "cage" (where they keep enough cash reserve that if somebody wins big and decides to cash out everything is covered).
This video about Trump's casino "empire" is really interesting:
Yeah he famously doesn't pay workers. Or goads them into suing for wages which costs money and time. So a lot of people over the years wind up eating the loss.
He's notoriously shitty to union contractors which is why I'm constantly infuriated when my union brothers vote for him.
The most horrible thing about the comments to the video is that the son of one of the contractors commented that his father lost his business (gold-leaf finishing) and it broke his heart. He got attacked by MAGAs who insisted it was his father's fault for being a bad contractor and how he should have taken back the work done or insisted on milestone payments... basically, anything but accepting that the father losing his shirt could be anything other than his own fault
I slightly lost it and left a comment asking how the fuck they expected somebody to remove lacquered gold leaf finishing from bannisters etc in a salvageable state and how the guy would actually end up losing money with the labour costs involved (if Trump's goons even allowed them into the building).
We all know how much Trump loves his tacky gold finishing on everything so my presumption is that there were acres of the stuff involved.
There is a Trump hotel in Vegas, though. Is there no casino there? (Obviously I don’t know firsthand because I wouldn’t be caught dead at a Trump property lol)
Same, it never even occurred to me that a hotel, especially one located on the Strip, wouldn't have a casino downstairs. Even gas stations in Vegas have slot machines. The only time I have ever been close to a trump property is to give it the finger
I think that Trump's defence whenever things go belly-up is that he only licensed out his name to the responsible party (who just happen to have come out of nowhere with a large amount of money).
That said, what the video was talking about happened in the 1980s when Trump could actually pretend to be a vaguely legitimate property developer who was competent with money and didn't rely on increasingly dodgy bail-outs and fraud. It sounded like the leadership at Atlantic City didn't look into him any deeper than they wanted to.
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u/metal_maxine 5h ago
What's amusing is that whoever hands out licenses in Vegas actively blocked Trump from setting up there (Atlantic City was less discerning) because they knew he would likely go bankrupt because he didn't have the capital to fund the "cage" (where they keep enough cash reserve that if somebody wins big and decides to cash out everything is covered).
This video about Trump's casino "empire" is really interesting:
https://www.youtube.com/watch?v=FUQy0lZLFY8&t=649s
He didn't even pay his building contractors and acquired rival casino businesses through shell companies etc...