This weekend Donald Trump married his third wife, a Slovenian model, in a glitzy ceremony in Palm Springs, Florida. At the same time concerns are growing about the financial difficulties the Trump casino company is in, and over whether it will be able to complete the $108 million casino project at French Lick.

Doubts are being raised about Trump's ability to continue as there is no mention of the deal in the bankruptcy reorganization of Trump Hotels & Casino Resorts. Documents filed with the Securities and Exchange Commission and New Jersey Bankruptcy Court show that the company does not have the money to pay $20.9 million in back taxes to Indiana. It is rumoured that the Trump company has been looking for assistance on the French Lick project, which is likely to see months of delays.

The Indiana Gaming Commission is reviewing the as yet unsigned contract to operate the state's first land-based casino, which Trump won in July. In November Trump's company filed for bankruptcy reorganization. According to financial disclosures made to the SEC and the court, Trump Hotels & Casino Resorts is $1.8 billion in debt and its operating losses to September 2004 are $91.5 million. Under the bankruptcy reorganization, the debt would be reduced to $1.25 billion and the company would receive $100 million to keep it afloat plus a credit line. The company is reportedly confident that there will be sufficient money to complete the new casino at French Lick. However, at the time of bidding for the casino project, Trump's company put a 16-month time-table for the development, a time-frame that now looks to be much underestimated.

French Lick, in Orange County, is in a depressed area of Indiana where the casino was expected to bring about regeneration from increased employment and tax revenues. Any delay is causing grave concern to the local citizens and councillors alike. As the French Lick Representative says, "We're such a poor county, we can't wait." (E-01.24.05)

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