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Citing the one-two punch of the battered economy and dwindling gaming revenues, Trump Entertainment Resorts Inc. has filed for Chapter 11. This will be the third time through the bankruptcy process for the casino group founded by Donald Trump-a move the flamboyant entrepreneur reportedly resisted. Press reports indicated that Trump had battled against bondholders seeking the Chapter 11 filing. According to MSNBC, that frustration triggered his resignation from the board after his offer to buy and privatize the group was rejected. All three Atlantic City casinos will continue regular operations as the U.S. Bankruptcy Court in New Jersey works through the case.
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