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As long as it made someone really rich before it went down, it served its purpose. It's all about moving wealth from pot one to pot two, and declaring bankruptcy on pot one. Double points of you can find or engineer a gray area in the tax code to avoid taxes on the forgiven debt. Pay me 1.5 million, and I'll come give a speech and share my most secret loopholes.
It probably made money for the racist gangster who gambled there and looked like he lost money but probably was skimming off Trump, and he didn't want to gamble where blacks or women were around and the hotel accommodated him.
JMO, so the legal bastards can know it is my opinion about the skimming. But he was eventually banned from all casinos in NJ.
#politics