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Trump's casino operations file for bankruptcy
PHILADELPHIA, Nov 21 (Reuters) - Donald Trump's casino operations filed for bankruptcy on Sunday in a long-expected move that would allow the real estate maverick to restructure the company's debt and overhaul its aging casinos.
Trump Atlantic City Associates listed $1.3 billion in debt, and $1.5 million in assets, according to the filing with the U.S. Bankruptcy Court for the District of New Jersey.
Trump's major casinos in New Jersey -- Trump Taj Mahal, Trump Plaza Hotel and Casino and Trump Marina Hotel Casino -- have suffered from competition from the Borgata Hotel Casino & Spa, which opened last year.
Trump, the developer recently made more famous by his "The Apprentice" reality television series, last month clinched $500 million in financing from Morgan Stanley to help fund a push into new markets such as Las Vegas and Pennsylvania.
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