Trump Files Bankruptcy Station Casinos Following

MMA Payout has been reporting on the recession's fall out on the casino industry, namely Station Casinos. Station Casinos is owned by the Fertittas who own Zuffa which is the Parent company of the UFC and WEC.

But in similar news, Donald Trump's Trump Entertainment Resorts Inc., has filed for bankruptcy. Trump has recently entered the fray, with ties that no one really fully understands, with Affliction

From AOL:

Trump Entertainment Resorts Inc, Donald Trump's casino group, filed for Chapter 11 bankruptcy protection on Tuesday, court documents show.

The casino operator had assets of about $2.1 billion and total debts of about $1.74 billion on December 31, 2008, it said in its filing with the U.S. Bankruptcy Court for the District of New Jersey. Nine affiliates of the casino operator including Trump Plaza Associates, Trump Plaza Associates, Trump Marina Associates and Trump Taj Mahal Associates simultaneously sought protection, according to the filing. The company missed a $53.1 million bond interest payment due on December 1 as a sharp downturn in consumer spending hit casino revenues. Donald Trump said on Friday that he had decided to resign from the board of the company due to disagreements with bondholders who wanted the casino group to file for bankruptcy.

Yahoo! has recently listed Sation Casinos as one of the 15 companies least likely to survive 2009.

Station Casinos. (Privately owned, about 14,000 employees). Las Vegas has already been creamed by a biblical real-estate bust, and now it may face the loss of its home-grown gambling joints, too. Station - which runs 15 casinos off the strip that cater to locals - recently failed to make a key interest payment, which is often one of the last steps before a Chapter 11 filing. For once, the house seems likely to lose.