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Trump Makes $19 Million Interest Payment

ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "Donald Trump has paid off one big IOU. However, his creditors won't be going away anytime soon.

"His gaming company, Trump Hotels & Casino Resorts Inc., made good on a $19 million interest payment on Friday, but still faces an even larger debt obligation next month that could severely test its shaky finances.

"Scott C. Butera, Trump executive vice president, said the company paid the interest at the end of a 30-day grace period with bondholders.

"…The $19 million interest payment was on bonds for Trump Marina Hotel Casino, the Trump riverboat casino in Gary, Ind., and the Trump 29 Casino near Palm Springs, Calif. Trump 29 is an Indian casino managed by Trump Hotels.

"Although Trump Hotels scraped together the cash for this interest payment, the company has a $73.1 million bond payment due Nov. 1. Gaming analysts and bondholders have questioned whether the company will have the money to make the next payment…"

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