Emily (4:31)

The hotel was advertised as the eighth wonder of the world when it opened in 1990. 1.

James (4:38)

Step beyond your wildest imagination.

Emily (4:41)

A symbol of Donald Trump's meteoric rise as a real estate tycoon filled with Trump's signature glitz and gold. It cost nearly $1 billion to build.

John (4:51)

Is it necessary to build on such a scale?

Charlie (4:54)

The scale, Charlie, is what brings the people.

David (4:57)

The opulence, the size, the everything is.

Charlie (4:59)

What really is going to make the Taj Mahal, I think, the most successful hotel anywhere in the world.

Emily (5:03)

But Monday at 5.59am, the doors were locked at the Taj after 26 years, leaving thousands of middle class workers without jobs. So how did Trump's crown jewel go from this?

Charlie (5:17)

I'm really happy with what I'm seeing to this.

Emily (5:20)

I got to show you a picture of what the casino looked like. It was, it was pretty remarkable. Take a look at this.

David (5:29)

Now, there were people in Atlantic City who also had financial acumen, who were aware that Donald Trump's casinos were likely going to cause devastation. Whistleblowers, people who tried to raise the Red flag. Donald Trump got those individuals fired, retaliated against them. Let me show you one such story. Play this clip.

Emily (5:53)

One man said he knew it wasn't sustainable. Marvin Roffman, a gaming industry financial analyst.

Marvin (5:59)

And I said, well, why would you want to have three casinos? One is going to cannibalize the other.

Emily (6:07)

Just weeks before the casino opened, he told the Wall Street Journal, when this.

Marvin (6:11)

Property opens, he will have had so much free publicity, he will break every record in the books in April, June, and July. But once the cold winds blow from October to February, it won't make it. The market just isn't there.

Emily (6:25)

These are the quotes that made Donald Trump angry.

Marvin (6:28)

Live it.

Emily (6:29)

What came next made headlines. Nightline covered Rothman's story.

James (6:33)

You apparently saw things with some clarity. Yes, at least as far as the Taj Mahal was concerned. And yet when you spoke out on that, you got canned.

Emily (6:42)

Donald Trump was so upset with Rothman's grim prediction for the Taj Mahal that he is said to have called up his boss and said, either make Rothman apologize publicly or fire him.

Marvin (6:53)

They fired me on the spot.

Emily (6:55)

Rothman says what really worried him about the Taj Mahal was how he says Donald Trump had financed it with an extremely high interest loan.

Marvin (7:03)

The Taj would have to make close to a million three a day to break even. No casino in the world ever had that kind of number.

Emily (7:13)

But Rothman turned out to be exactly right about the Taj. It could not bring in enough money. And a little over a year after it opened, the Taj Mahal filed for bankruptcy. And Trump's other two Atlantic City casinos followed suit the next year.

David (7:27)

And then, finally, this is a contractor who tells the story how Donald Trump destroyed the lives of so many contractors in Atlantic City, screwed them over after defrauding them. Here, play this clip.

Charlie (7:40)

Had I known that Trump was going to take over the job, I would have never done the job.

Emily (7:46)

He says the Taj job nearly cost him his company, which was contracted to provide glass mirrors and doors.

Charlie (7:53)

He promised if we did a good job, we would get paid.

Emily (7:56)

He says Trump owed him over $1 million. And he wasn't alone. Rosenberg says Trump didn't honor the contracts of over 100 contractors who helped complete the Taj Mahal.

Charlie (8:07)

The man didn't pay us because he didn't have the money. Bottom line.

David (8:10)

So that was Donald Trump's excursion into Atlantic City. And doesn't it look a lot like what's going on right now?

Tom (8:17)

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David (10:08)

So let's take a look at right now and we'll compare a lot of the similarities. So before the election, remember what Donald Trump was saying? This was his message to the people in Nevada and elsewhere where he said that the reason the economy was doing so well before the election under former President Biden was that it was a fake economy, he said. And the reality, he said, is that everything was doing good because of him. This is what he said. Here, play this clip.

Charlie (10:35)

Economy is not. This is just, it's like a fake economy. Some of the best, some of the best people on Wall street are saying the economy is only good because I think, I don't want to say this because other people have said it, that's not me saying it, but they think Trump is going to get elected. That's the only reason our economy's good. That's the only reason the stock market is up.

David (10:58)

And of course Donald Trump was lying. He was defrauding Vegas right there because all they had to do in Vegas also and elsewhere is just take a look at Donald Trump's own financial disclos, signatures from the Trump media company that he controls. This is filed, this is by Donald Trump. I'm reading you the words of Donald Trump's lawyer in his recent annual SEC filing. A number of companies associated with Donald Trump have filed for bankruptcy. Entities associated with Trump have filed for bankruptcy protection in the past. The Trump Taj Mahal, which was built and owned by Donald Trump, filed for Chapter 11 bankruptcy in 1991. The Trump Plaza, the Trump Castle and the Plaza Hotel, all owned by Donald Trump at the time, filed for Chapter 11 bankruptcy in 1992. In the clip I showed you, the guy was like, why would you open up three casinos? It's going to cannibalize themselves. It's very similar to Donald Trump. Like, why are you going to tariff the whole world? Like they're going to retaliate and you're just going to screw Americans and make Americans pay more. Like, don't you see the parallels there? And it goes on to say thcr, which was founded by Trump in 1995, filed for Chapter 11 in 2000. Trump Entertainment Resorts, the new name given to Trump hotels after its 2004 bankruptcy, declared bankruptcy in 2009. 91, 9092-1995-2004-2009 casinos bankrupt, bankrupt, bankrupt, bankrupt, bankrupt. Screwed Atlantic City over so badly. Then you have companies that Donald Trump lent his name to, Trump Shuttle, Trump University, Trump vodka, Trump mortgage, gotrump.com Trump stakes all out of business. So horrible, horrible business person in Donald Trump right there. So what are the local journalists in Vegas talking about right now? Well, let's take a look right here and let's see what they've been saying recently about what's taking place. This is from ABC, NBC 3 Las Vegas right here. And here's what they have to say, or News 3 Las Vegas, rather. Here's what they have to say in NBC.

James (13:16)

Play this clip.

Kim (13:17)

Why are Canadians staying away from Las Vegas? Could it be the rhetoric out of the White House or is it the tariffs or is it both? Let's hash it out with the help of Nevada independent reporter Howard Stevenson Stutz. Thank you so much, Howard, for being here. And we have to think of ourselves here. What is it going to do to impact the local economy here in Las Vegas? What have you found through your reporting?

James (13:41)

Well, Kim, thanks for having me on. What's fascinating was, is that international? You know, let's go back to the pandemic. We, we were looking to try to revive international travel as fast as we could, you know, because that's a big component in Las Vegas back in 2021, really pushing for it. Canadians were still coming then. They were, that was one of the few international flights we had, were coming in from Canada, you know, Toronto and Montreal because of the connection. And Canada is the number one international tourist destination, tourist market for, you know, coming to Las Vegas. So we saw this huge dip in February's numbers. International visit, international visitation went down, especially from Canada, I mean, where some of the flights are like 15, 12%, you know, down. And I first thought, well, it looked like the tariffs. And I wrote about it the week later. I had Canadians reaching out to me saying, it's not the tariffs, it's the disrespect. And you have to remember this was in, these are February's numbers that we got in at what, the end of March. And so, you know, they said we're not coming to Canada because of the disrespect. Like you said, the 51st state and all the, all the rhetoric coming out of the White House. And that was the end. So we'll see now next week we should see, you know, end of April, we'll see the February, the March numbers, I think they're going to be down pretty bad coming, you know, when we see the March numbers.

David (15:02)

Okay, so in addition to the fact that there are massive layoffs in Vegas, revenues decreasing significantly, I think the recent stat is Las Vegas Visitor volume down 12 to 15%. Gambling down hundreds of millions of dollars down about 15%. Room rates are down in the $100. Trying to entice people. Things are not going good in Vegas now. Also it should be noted that the Las Vegas Review Journal owned by Miriam Adelson, a major Trump mega donor, also just came out with an op ed, scathing op ed criticizing Donald Trump because Donald Trump pardon someone by the name of Michelle Fiore who was a former Las Vegas politician. She was referred to as Lady Trump by lots of pundits and she was convicted of funneling money intended to build a statue for a fallen police officer to her own plastic surgery and to her own benefit. Let me just explain to you what went down. Talks about how a Nevada newspaper owned by Donald Trump mega donor Miriam Adelson has savage Donald Trump's decision to pardon a Republican Las Vegas councilwoman who was convicted of using donations intended to fund a statue of a police officer to pay for her cosmetic surgery. The Las Vegas Review Journal, owned by billionaire Miriam Adelson, described the decision by Trump as a debasement of presidential pardon power. And a scathing editorial published after Trump granted clemency to Michelle Fiore, a former Las Vegas councilman and Nevada state lawmaker. Fieri was convicted of fraud last year. Federal prosecutor said at trial she raised $70,000 for a statue of a Las Vegas police officer who was fatally shot in 2014 in the line of duty, but had instead spent it on cosmetic surgery, rent and her daughter's wedding. The newspaper editorial says the pardon, which was brief and contained no explanation, is an affront to the federal jury that heard her case and sends precisely the wrong message to public officials. That's what's going on in Las Vegas right now. Utter destruction by the Trump regime. Trump's Encore, right? They have the hotel Encore. Trump's Encore after bankrupting Atlantic City. Shame, shame, shame. Hit. Subscribe let's get to 5 million subscribers.

Tom (17:38)

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