Trump Gambles And Wins in Case Against Atlantic City
When Donald Trump gets involved with something, chances are he is going to walk away with more money than when he started. That scenario played out again on Friday when he won a case against Atlantic City.
Trump Entertainment received a favorable ruling from Judge Joseph C. Small on Friday in regards to an agreement he had with Atlantic City officials. The deal was to settle 19 tax appeals.
On Monday, Mayor Scott Evans denied the agreement claiming that it was too generous. Trump's lawyers responded by asking the court to have Atlantic City pay. He was not happy with Evan's decision on Monday.
"We had a done deal. When you make a signed deal-signed, sealed and passed by the City Council, and you break it, that sends out a very bad signal to the investment community about Atlantic City," said Trump.
The settlement was paid by Atlantic City because they feared that if they were to fight the decision, they could lose an additional $9,000 a day in interest to Trump.
Mayor Evans was disappointed. He felt that his administration should have had more time to review the settlement that was made and approved by the previous mayor and his Council.
