Donald Trump, the celebrity real estate developer hoping for a casino comeback, took the stand in U.S. bankruptcy court on Thursday to fight for control of the three Atlantic City hotel-casinos bearing his name, Reuters reported.
In just over an hour of testimony at a New Jersey courthouse, Mr. Trump said he believed the Trump Entertainment Resorts casinos could reach new heights and that the Atlantic City casino market would revive as the broader economy recovered, despite increasing competition.
Mr. Trump, appearing calm and relaxed in a black suit and brightly colored tie, made jabs at a rival bidder, Carl C. Icahn, portraying his opponent as a vulture who would not invest the necessary dollars in the future of the casinos and has a mixed track record of guiding companies through bankruptcy, Reuters said.
Mr. Trump, who told the court that the casino operator’s survival was important to him “because it has my name on it,” said of his rival: “Carl spends nothing — if Carl spent three dollars I’d be shocked.”
The two men are battling for control of the casino operator, which filed for Chapter 11 bankruptcy in February 2008 as regional competition and a drop in consumer spending hurt its three Atlantic City casinos.
