In 1988, Trump acquired the Taj Mahal Casino in Atlantic City, New Jersey, in a transaction with Merv Griffin and Resorts International, which led to mounting debt, and by 1989, Trump was unable to meet loan payments.
In 1988, Trump acquired the Taj Mahal Casino in Atlantic City, New Jersey, in a transaction with Merv Griffin and Resorts International. The acquisition was funded by significant bank borrowing; by 1989, Trump was unable to meet loan payments.