A federal judge is threatening to boot Trump Entertainment Resorts Inc. out of chapter 11 protection unless there’s “a firm indication” that the company’s sole casino, the Trump Taj Mahal, is going to stay open, the Wall Street Journal reported today. In a signed order, Judge Kevin Gross, who is presiding over the gambling company’s Chapter 11 reorganization effort, cited the lack of a “reasonable likelihood of rehabilitation” for Trump Entertainment, which has said it would close the Trump Taj Mahal on Dec. 12. If that happens, the Trump Taj Mahal will be the fifth Atlantic City boardwalk casino to close down this year, and Trump Entertainment will find itself in a chapter 7 bankruptcy liquidation.
