What you say is only partially true.
It says that that Trump Casinos will use the 30 day grace period. Until that expires, he or should I say TRMP ( Trump ent Resorts Inc.) will not have missed or really missed a payment.

You must also remember that Trump is just a figurehead as he is no longer the major stockholder and basically gets paid an appearance fee to show his face every now and then.
Financial institutions own approximately 55% of the stock now. I believe Trumps holdings are now only in the 20% range
Good bad or indifferent, keeping the Trump name on the properties still adds some value as the Wynn name in Las Vegas.
NO, this is not meant to show that it is a vise investment. it isn't
However if you want to gamble, at 30 cents a share and get your stock certificates issued to you per share, worst case scenario you could always repaper the walls of your rec room