Hi Bill, You are entirely correct and it doesn't stop there. He has properties all over NYC not to mention elsewhere.

There is no question that his casino empire was levereged in debt right from the start but he had people that still knew how to run a business.
Now those properties are owned by the banks and though there are some capable people in charge, those that are in the background are the ones that pull the strings.
It wouldn't surprise me if it winds up going the way of the Tropicana where all they were concerned with was trying to turn a profit and as a result alienated a large portion of their customer base.
You probably remember this old adage, it takes years to make a customer but only moments to lose one.

I've been at the Trump properties since 1985 when the Trump Castle opened and I can see the differences in customer service.
Sure you can put a coat of paint on an aging property, build a new tower but if you don't treat people right you will have no one to fill those empty rooms.

As the article said, Trump wanted to regain control of the properties and since the bondholders said no, he decided to pick up his ball and go home.
I still would not be a bit surprised that after the current owners drive these properties into the toilet completely that he might re emerge as the owner once again