Trump Opens New Tower, Holds Off On More Las Vegas Building
Donald Trump opened his latest Las Vegas property on Friday at a ribbon cutting surrounded by beauty queens and fellow developers. The Trump International Hotel & Tower is a 64-story gold-covered with 1,282 suites and a restaurant named DJT (Trump's initials). The new tower joins other new towers which have luxury accommodations, dining and retail but no casinos.
All isn't rosy in Trumpland though, shares of Trump Entertainment Resorts Inc. hit an all-time low on Friday after the company's three casinos reported lower revenue for March. Trump's share price is down 83 percent for the past 52 weeks. Also, Trump Entertainment issued a statement last week saying they would sell a casino or two if they thought the sale would be in the best interest of the shareholders.
Trump has said he will wait to build a second planned Las Vegas high rise until he sells all the condo and hotel units in the first tower.