let hillary clinton come to a nassau otb branch and talk to people who work, vote and bet
Dec 3, 2000 - A court decision cleared the way for Nassau Democrats last week to take control of the Nassau ...
casinos in new jersey are open without religious preference
Let the careless christisn crusader explain why she has allowed nassau otb to close on roman catholic easter sunday in preference to greek orthodox easter sundsy?
See ny const art 1 sec 3
clinton's delegate ximmerman handles public relations for joseph mondello's otb
casinos in new jersey are open without religious preference
Let the careless christisn crusader explain why she has allowed nassau otb to close on roman catholic easter sunday in preference to greek orthodox easter sundsy?
See ny const art 1 sec 3
clinton's delegate ximmerman handles public relations for joseph mondello's otb
Nassau Regional Off-Track Betting Corp. is selling its Farmingdale, N.Y. branch to pay debt service for revenue ...
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Hillary Clinton Criticizes Donald Trump’s Casino Record in Atlantic City Speech
Presumptive Democratic presidential nominee to call out GOP rival for ‘wake of destruction’ left in city
Hillary Clinton attacked Donald Trump over the handling of his casinos in Atlantic City, saying that he wants to "bankrupt America the way he bankrupted his businesses." Photo: Getty Images
ATLANTIC CITY, N.J.—Democrat Hillary Clinton traveled to the boardwalk here Wednesday to spotlight Republican rival Donald Trump’s casino bankruptcies, saying he repeatedly enriched himself at the expense of others.
The presumptive Democratic presidential nominee pointed to Mr. Trump’s promise to do for the nation what he did for his business, saying this should be viewed as a warning, not an enticement.
“He always rigged it so he got paid no matter how his companies performed,” Mrs. Clinton said on a sweltering noontime boardwalk next to the former Trump Plaza casino, the faint outlines of his name visible behind her where it once adorned the building’s exterior. She said that hundreds of people lost jobs, shareholders were wiped out, lenders lost money and contractors took heavy losses. “But Donald Trump? He walked away with millions.”
The event is part of the Clinton campaign’s effort to turn one of Mr. Trump’s biggest assets—a perception that he is a successful businessman—against him. She also pointed to a fraud suit pending against his Trump University and his record of putting the Trump name on products made abroad.
In a statement Wednesday, Mr. Trump said he created “thousands of jobs and made a lot of money” in his casinos. He called bankruptcy “an effective and commonly used practice” by businesses that “ultimately saves jobs.”
“Nobody understands the economy like I do and no one, especially not Crooked Hillary Clinton, will do more for the economy than I will,” he said.
Mr. Trump’s legacy in Atlantic City includes four rounds of bankruptcy for the casinos he ran there, costing workers, lenders, stockholders and contractors jobs and money. In addition, those casinos received limited capital investment, exacerbating their business problems, according to regulatory and financial records examined by The Wall Street Journal.
Mrs. Clinton charged that Mr. Trump intentionally ran up large debts and then defaulted, without any concern for those who lost money. To drive home the point, she was introduced by a retired local business executive who said his plate glass company wasn’t paid for work it performed for Trump casinos.
Mr. Trump said in an interview last year that those who lost out might never have had jobs or contracts in the first place if it not for him. “They made plenty of money on me,” he said. He also described stock and bond investors who lost money in restructurings as “Wall Street killers” accustomed to his tough practices.On his Twitter account on Wednesday, Mr. Trump also sought to tie his troubles in Atlantic City to the broader local economy, pointing out that other companies with casinos there have gone or are going through bankruptcy. He blamed Atlantic City’s recent trouble on decisions by local politicians there.
Atlantic City was a growing casino market until about a decade ago, when neighboring states started adding gambling, and revenue plummeted. Many casino companies there have gone through bankruptcy since.
Mr. Trump’s troubles, however, date back further. His first bankruptcy there was in 1991, and his casinos went through another round in 2004 with him at the helm. The casinos he once ran also went into bankruptcy protection in 2009 and 2014. By the time two of the casinos he once ran filed for bankruptcy in 2014, he had lost all ownership interest in them and a third that had been sold.
Casinos in the onetime East Coast gambling mecca are facing financial problems as the industry has expanded in nearby states, in part because of that limited investment in the Trump casinos and in other properties by the owners there. The city itself has been inching toward insolvency and was a recent recipient of a state bailout package.
The Trump Taj Mahal, which is the last casino in Atlantic City to bear Mr. Trump’s name and is currently owned by activist investor Carl Icahn, emerged from bankruptcy proceedings this year. The casino wiped out all of the workers’ health-care coverage and pensions during that process, arguing that it couldn’t keep the casino open otherwise. Nearly 1,000 Taj workers are now on strike, while Mr. Icahn’s casino company has threatened to close the Taj if it continues. Mr. Trump has no involvement in the casino.
After her remarks Wednesday, Mrs. Clinton stopped by the picket line and spent a few minutes greeting strikers who were banging drums and sounding horns in the sweltering heat.
Mr. Trump opened three new casinos in Atlantic City starting in the early 1980s and ran two separate public companies that operated casinos in the city. He often touts his record as a signal of his business prowess, boasting of the profits he made there despite repeated business failings.
A Wall Street Journal investigation earlier this year showed that Mr. Trump made a net profit of $160 million in Atlantic City between 1990 and 1996 through fees and other payouts that he took from the casinos there, even as they all went through bankruptcy-court proceedings during that time. Those profits in Atlantic City allowed Mr. Trump to survive a broader seismic financial crisis he was facing in other areas of his real estate empire in the early 1990s.
“For many years I took money out of Atlantic City,” Mr. Trump said in the interview last year. “The money I made in Atlantic City fueled a lot of projects.”
