AZDuffman
AZDuffman
Joined: Nov 2, 2009
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March 1st, 2010 at 8:41:19 AM permalink
Last week I read there is a hangupin the latest Trump Casino bankruptcy case. The Donald seems to think his assest should put a goodwill value on the "Trump" name. I think it is Carl Icahn who thinks otherwise.

Myself I've been to Trump Marina and Trump Taj Mahal. While a Trump condo can say "class" I don't see the value to the Trump name on the Casinos. Though it might possibly drive some room business to the Marina, at the Taj "Trump" seems a subtitle. All I remember about "Trump Plaza" would be it was a Wrestlemania site once.

Then there is the fact Trump ran a casino company bankrupt not once, not twice, but three times in just over 30 years. If I bought it, I couldn't hire a sign company to change the names fast enough. My only consideration would be keeping the gaming license in a name change.

Anyone else have thoughts on this?
Tolerance is the virtue of believing in nothing
pacomartin
pacomartin
Joined: Jan 14, 2010
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March 1st, 2010 at 8:52:33 AM permalink
We had a similar battle of billionaires over the name The Plaza Hotel which currently belongs to an aging hotel built in 1971. They wanted to build a copy of The Plaza in NY here in Vegas, but the name was already taken.

Goodwill is frequently a contested line item in accounting.
DJTeddyBear
DJTeddyBear
Joined: Nov 2, 2009
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March 1st, 2010 at 9:39:03 AM permalink
I think there is little value in the Trump name for a casino.

Casinos in general tend to be gaudy. The Taj takes it to a whole nother level. But since casinos are supposed to be gaudy, is that good?

The Trump casinos 'may' have goodwill, or brand loyalty. But that has nothing to do with Donald, or the Trump name.

Quite frankly, I believe that the Trump name may be hurting the Taj Mahal, ever since their expansion in 2008. A new hotel tower was built. To get to it, you have to go to the second floor, walk thru the elevator bank for the original tower (or simply take the elevators to the second floor and get out), to get to the elevators for the second tower.

The problem is, there is a road between the two towers, resulting in a walkway of about 80 yards between the elevator banks. This is one end of their retail/restaurant area known as "Spice Road". The 'road' winds it way around, with the other end at the parking garage. OK. There's a lot of retail and restaurants on that road. It's actually kinda nice.

However, the section of the 'road' between the elevator banks has nothing. No stores. No Restaurants. And its a wide area. Every time I walk thru, all I can think of is how it's a tremendous waste of potential real estate.

Wait a sec. Isn't Donald supposed to be a real estate expert?

For that very reason, I think the Trump name is hurting the Taj.

---

On a side note, the reason there is no retail or restaurants in that area is because of security. You need a room key to get to the elevators.

Except....

You can tell the guard that you're just going up to the second floor. Yeah, you could have taken an escalator. But the guards will let you pass. Once you get past him, hit any floor button you want.
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁 Note that the same could be said for Religion. I.E. Religion is nothing more than organized superstition. 🤗
DJTeddyBear
DJTeddyBear
Joined: Nov 2, 2009
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March 1st, 2010 at 9:45:21 AM permalink
And the fact that Donald bankrupted the casinos multiple times makes for a great sarcastic comment. A player can consider a loss as a donation to Donald's bankrupcy fund.

Similarly, a player can jokingly try to bankrupt him again.

But that don't build brand loyalty either.
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁 Note that the same could be said for Religion. I.E. Religion is nothing more than organized superstition. 🤗
reno
reno
Joined: Jan 20, 2010
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March 1st, 2010 at 6:38:10 PM permalink
I find it absolutely astonishing that after being in the gambling business for over 30 years, Donald Trump still hasn't devised a way to squeeze a profit out of 7,000 slot machines. Is he just a very very incompetent businessman? Or just very very corrupt? It has even occurred to me that perhaps his "losses" are a convenient way to launder money and avoid taxes. (Unlikely. It's in his best interest to be reporting staggering profits since his stock is traded on Wall Street.)

I understand that managing a casino is probably easier said than done, and there are enormous expenses (labor, taxes, insurance, mortgage payments, utilities) that us customers take for granted. On the other hand, guys like Jay Sarno and Anthony Spilotro did okay in the industry, and they weren't exactly Nobel Laureates in economics.

Meanwhile common stock in Trump Entertainment Resorts is currently trading at ten cents a share. I'm not sure what Donald's executive compensation package consists of, but what ever they're paying him, it's too much.

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