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Trump Entertainment Resorts, the Atlantic City casino company founded by celebrity developer Donald Trump, said it emerged from Chapter 11

The operator of three Atlantic City casinos said $225 million in new equity had been injected into the company, including $125 million intended to be used to reduce pre-petition debt, in accordance with its reorganization plan.

The company added it has eliminated about $1.3 billion in debt and will retain use of the Trump brand.

The New Jersey Casino Control Commission granted the required approvals for the reorganization earlier this week, Trump Entertainment's statement said.

Trump Entertainment filed for bankruptcy protection in February 2009 after struggling with a heavy debt load and a slide in gaming revenue. Trump, who moonlights in a reality TV series,

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Posted: Jul. 19, 2010

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