American real estate magnate Donald Trump's casino group, Trump Entertainment Resorts, is expected to file for bankruptcy protection on Tuesday.The filing would mark the third appearance in bankruptcy court for the company, which operates the Trump Taj Mahal Casino Resort and Trump Plaza Hotel & Casino in Atlantic City, New Jersey. It is struggling under $US1.7 billion in debt. The company, which had $US960 million in sales last year, most recently emerged from bankruptcy in 2005.
The decision to seek protection was reached following months of negotiations between Trump and his casinos' bondholders. Trump resigned as chairman of the board on Friday saying he disagreed with the bondholders' decision to seek an involuntary bankruptcy proceeding.
The US casino industry has been rocked in recent months as Americans have cut back substantially on casino visits and spending in the midst of the worst economic crisis in generations.
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