The reality of the Trumps' arrangement with the casino was a little bit more complicated than that.

(R) ahead of a press conference in Trump Tower, Manhattan, New York, U.S., January 11, 2017. President-elect Donald Trump (C) stands surrounded by his son Eric Trump (L) daughter Ivanka and son Donald Trump Jr. Trump under the previous trademark license agreement during 2009 or 2010,' the company said in government documents in 2011. 'No payments were made to the Trump Parties during 2010 under the Trademark License Agreement nor were any payments made to Mr. The court, citing the value of having the Trump name on the property, went with the latter plan, and the casinos got to use the Ivanka and Donald Trump brand and likeness free of royalties.

Creditors like the Trumps would make out better, though, and there was another added bonus - the casinos would get to use the Trump brand. The other, championed by the Trumps and other debt holders, would reorganize the company with that debt still on the books. Then the company would spend $15 million rebranding the casinos. One, championed by Icahn, would clear the company's balance sheet of $334 million in debt.

To make a long story short, two plans were presented to the court. Of course, the Trumps were still debt holders in the company and had a say in the bankruptcy proceedings. Account icon An icon in the shape of a person's head and shoulders.

Trump atlantic city casinos