The Trump Taj Mahal in Atlantic City, US, has recently broken some of its loan covenants and without a quick deal with its creditors could be headed for a Chapter 11 reorganisation within days.
So far, talks between Trump Entertainment Resorts - which owns the Taj and its neighbour, the soon-to-close Trump Plaza - and its creditors have not found an out-of-court solution.
There was hope around the negotiation table that Carl Icahn, who owns much of the Trump Entertainment debt, would agree to convert that debt into equity and keep the 2,248-room hotel-casino out of Chapter 11. That hope now appears to have faded.
Atlantic City has had nothing but bad news this year. It started 2014 with 12 casinos, but when the Trump Plaza closes on September 16 after the Miss America pageant, there will be just eight remaining.
