Donald Trump Casinos File For Bankruptcy

Trump Entertainment Resorts has filed for Chapter 11 bankruptcy protection just days after Donald Trump resigned from the board of the casino operator in which he holds a 24% stake.

The court filing details assets of $2.06billion (£1.44billion) and debt of $1.74billion, and shows that the business missed a $53million interest payment on some of its bonds at the start of December.

The company's value has fallen to $7.3million from its peak of $842million in 2005, in part due to a fall in gambling revenues in Atlantic City last year, down 7.6pc, and because of concerns over its financing.

Mr Trump and his daughter Ivanka resigned from the company's board on Friday.