Trump Entertainment files for bankruptcy

Trump Entertainment Resorts has become the latest Atlantic City casino owner to file for bankruptcy protection.

The company filed in U.S. Bankruptcy Court in Wilmington, Delaware, on Tuesday, saying it has liabilities of more than $100 million.

The firm runs two casinos in the struggling resort city. One, Trump Plaza, is scheduled to close next week.

The other, Trump Taj Mahal, has also had financial problems.

Donald Trump owns a 10 percent stake in the firm but no longer controls it.

The company last went through bankruptcy in 2009.

Three other Atlantic City casinos have closed this year as the industry struggles with competition in nearby states.

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