Donald Trump Appoints New CEO
Trump Entertainment Resorts Inc. has recently stated in their latest press release “In Atlantic City we’re set to get our house in order again” with the option of expansion into other segments of the gaming market, this will comprise part of our post-bankruptcy reorganization plan, the company’s Robert F. Griffin new chief executive said.
Griffin gave a brief glimpse of what he has planned on Wednesday after the New Jersey Casino Control Commission granted him the initial go-ahead to take over as Trump Entertainment’s new CEO. The usual red tape needs to be sorted first with regard to background checks ahead of a final commission vote on our gaming license.
The 51 year old Griffin has replaced present Trump CEO Mark Juliano in a bid to revamp the company’s top management structure, prompted by the corporate bondholders who purchased the three Trump casinos for $225 million in a Chapter 11 bankruptcy sale earlier this year. The 10th of November will see Griffin board the famous Trump franchise, giving up his present position as president and CEO of MTR Gaming Group Inc., a casino vendor in Pennsylvania, West Virginia and Ohio.
As the new CEO of Trump his first priority is to salvage a sinking ship and turn the company into a cash cow again. His new plan is to improve Trump’s overall business stratagem starting with a loyalty program toward its players”, he said. Ivanka Trump and father Donald with handle the market and promotional aspects of the business.
“I’m glad to say that they offered their services to assist,” Griffin mentioned in a telephone interview. “I feel honoured that I enjoy their continued support, in turn this could only improve our affiliation.”
Marc Lasry, billionaire in charge of corporate bondholders New York-based Avenue Capital Group, has consented to give Donald Trump a 10 percent stake of the restructured gaming company in lieu for perpetual use of his name on the casinos. A celebrity as well, Ivanka Trump is set to add her name to the mix in a bid to enhance the promotional efforts of the company.
Adding up to the initial revamp of the marketing strategy of the company, Griffin is set to supervise the flagship Trump Taj Mahal Casino Resort and the Trump Marina Hotel Casino’s potential sale. One of the key issues Griffin picked up on, is that the company is also in the hunt for a joint venture partner to assist with the modernization of the Trump Plaza Hotel and Casino even if the Trump Marina sale does not come off.
The sale of the non-profitable Trump Marina is still on the cards, unfortunately no offers have been put forward to date, Griffin said. In the event we don’t succeed in selling off Trump Entertainment we’ll continue to function even if we’re not successful in landing a buyer, we have plans to upgrade the Marina and will continue to operate it regardless if a buyer does not emerge.
Griffin is familiar with Trump casinos whilst he was executive director of hotel operations at Trump Marina in the 1990s and in the late 1980s director of catering services at Trump Plaza.
His illustrious gaming career nearly spans three decades, starting off as banquet manager at the old Golden Nugget casino, of late the Atlantic City Hilton Casino Resort. The last two years he was CEO of MTR Gaming, a local casino vendor.[addtoany]