Donald Trump took a huge financial hit in 1995. But more losses were ahead.
Gambler Lost $127M in 2007, Sues Casino December 7, 2009 / 11:05 AM / CBS Terrance Watanabe was a fixture of the Caesars Palace and Rio casinos in Las Vegas, where in 2007 he went on a year-long. Meet the Gambler Who Lost a $100,000 Slot Machine Jackpot Because His Hot Ladyfriend Pushed The Button. And according to some kind of weird casino rule, whoever pushes the button gets the money. Donald Trump Lost a Billion Dollars—Just Not His Own He lost other people's money, then bogusly claimed the tax benefits of those losses for himself. Forbes had his net worth at $600.
The New York Times on Saturday published three pages of what it claimed were three of Trump's 1995 state tax returns, which showed he reported a $916 million loss that year.
Separately, 1995 was also when Trump sold stock to public investors for the first time, opening up a detailed public paper trail of Trump's business dealings.
CNNMoney in August published an analysis of 10 years of Trump corporate documents. The investigation showed that Trump's company, Trump Hotels & Casino Resorts, lost money every year from 1995 until it went bankrupt in 2004 -- more than $600 million in total losses.
The company traded on the New York Stock Exchange under the symbol DJT. An investor who put $100 in DJT in 1995 would have lost 90% of that money by 2000, and been left with just $8.72.
Along the way, DJT paid Trump $39 million in salary, bonuses, options and other compensation.
Trump has refused to release his tax returns, making the Times report so explosive.
But by law, the DJT filings were public, and help paint a picture of Trump's rocky business dealings during the 1990s.
Combined with the Times revelation, they run counter to the central claim of Trump's campaign -- that as a successful businessman, he would use his financial acumen as president.
The decade-long saga of DJT began on June 7, 1995.
That's when Trump Hotels & Casino Resorts sold stock for the first time. According to corporate filings, Trump raised $140 million in 1995.
The filings show Trump profited handsomely off the failed business. In addition to $20 million paid out in total by DJT in salary, bonus and options, Trump made an additional $18.5 million off of 'other' compensation.
That included a number of inventive deals: complex consulting contracts that paid Trump for consulting with his own company; licensing deals under which DJT paid Trump to use the Trump name; and reimbursement for the times the company used his personal jet or golf courses for VIPs.
The public documents detail those arrangements.
Trump, for example, earned $1.7 million for providing consulting services to Taj Associates, the group that owned the Trump Taj Mahal casino -- which was majority owned by Trump at the time.
A services agreement, meanwhile, required the Trump-owned Trump Plaza Management to license the Trump name to a DJT subsidiary. Trump netted $1.3 million for that and other services in 1995 alone.
DJT also compensated Trump for using some of his facilities to 'entertain high-end customers.' In 2002, DJT paid Trump $300,000 for the services of a pilot who flew Trump's personal airplane for VIP customers.
This weekend, Trump's campaign responded to the Times report about the 1995 tax records by saying that Trump has a 'fiduciary responsibility' to his business to pay no more tax than legally required.
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| Points Earned Based On Each $1 Cash Or Credit Spent | |
|---|---|
| Slot Machine | 2 Points |
| Video Poker | 1 Point |
| Hotel Room or RV Space | 10 Points |
| Bingo | 20 Points |
| Dining, Spa, Golf, Gift Shops, Shows | 4 Points |
Redeem 1,000 points:
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1 Rewards dollar used for spa services, dining outlets, hotel, concert tickets and more!
Please note: Table Games redemption can only be made in $5 increments
Plus, Unlock Additional Rewards
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- Complimentary overnight stays
- Exclusive invitations to tournaments & VIP events
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Use your Access Loyalty card and start earning rewards! To become a member, visit the Players Club with a valid form of identification and sign-up for your card today. Every time you play slots, table games or BINGO be sure to insert or present your card first, so you earn the maximum amount of rewards. You can determine how many points you have available by inserting your Access card into any slot machine. You can also visit our Players Club to get this information.Access Rewards are based on play per casino. Therefore, your rewards may reflect different amounts at each property.
We encourage you to use your Access Loyalty card to earn rewards at both of our casino properties.
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- Soaring Eagle Casino & Resort
- Saganing Eagles Landing Casino
- Soaring Eagle Waterpark & Hotel including Waabooz Run Golf Course & Hideaway RV Park
| HERO Card Benefits | |
|---|---|
| Room | $89 Weekday/$109 Weekend (Based on availability) |
| Entertainment | 50% OFF 1 concert ticket purchase per show (In-person Box Office cash & credit purchases only) |
| Play | $20 In Premium Play Loaded twice per month |
| Dining | $10 In Dining Credit Loaded twice per month |
| Spa | 20% OFF Products & services (In-person Spa cash & credit sales only) |
| Birthday Month | 1 Free Room (Based on availability) |
HERO CARD RULES & REGULATIONS
Accepting and using a Soaring Eagle Properties Access Loyalty HERO Card signifies understanding and acceptance of the Access Loyalty Program Rules and Regulations.A person must be at least 18 years of age and provide proper military ID (CAC card, DD Form 2 card or DD Form 214) to enroll in the Soaring Eagle Properties Access Loyalty HERO Program.
Valid government issued photo identification is required for any transaction. Identification must include a picture, signature, birth date, and expiration date. Expired or damaged identification is not valid for use.
All Soaring Eagle Casino & Resort, Saganing Eagles Landing Casino employees are not eligible to participate in Soaring Eagle Properties Access Loyalty HERO Program, drawings, or promotions.
All Access Loyalty HERO Program rewards and incentives earned by members' gaming and sales activity are at the sole discretion of the Soaring Eagle Properties Marketing Director/Management.
The decade-long saga of DJT began on June 7, 1995.
That's when Trump Hotels & Casino Resorts sold stock for the first time. According to corporate filings, Trump raised $140 million in 1995.
The filings show Trump profited handsomely off the failed business. In addition to $20 million paid out in total by DJT in salary, bonus and options, Trump made an additional $18.5 million off of 'other' compensation.
That included a number of inventive deals: complex consulting contracts that paid Trump for consulting with his own company; licensing deals under which DJT paid Trump to use the Trump name; and reimbursement for the times the company used his personal jet or golf courses for VIPs.
The public documents detail those arrangements.
Trump, for example, earned $1.7 million for providing consulting services to Taj Associates, the group that owned the Trump Taj Mahal casino -- which was majority owned by Trump at the time.
A services agreement, meanwhile, required the Trump-owned Trump Plaza Management to license the Trump name to a DJT subsidiary. Trump netted $1.3 million for that and other services in 1995 alone.
DJT also compensated Trump for using some of his facilities to 'entertain high-end customers.' In 2002, DJT paid Trump $300,000 for the services of a pilot who flew Trump's personal airplane for VIP customers.
This weekend, Trump's campaign responded to the Times report about the 1995 tax records by saying that Trump has a 'fiduciary responsibility' to his business to pay no more tax than legally required.
THE CASINO
ACCESS CLUB
One single Access Loyalty Card can be used at three Soaring Eagle Properties! Earn and redeem points for Premium Play and Reward Dollars!
The One Card with More Access.
More ways to earn & redeem Rewards
One single Access Loyalty Card can be used at three Soaring Eagle Properties! Earn and redeem points for Premium Play and Reward Dollars at:
- Soaring Eagle Casino & Resort
- Saganing Eagles Landing Casino
- Soaring Eagle Waterpark & Hotel including Waabooz Run Golf Course & Hideaway RV Park
| Points Earned Based On Each $1 Cash Or Credit Spent | |
|---|---|
| Slot Machine | 2 Points |
| Video Poker | 1 Point |
| Hotel Room or RV Space | 10 Points |
| Bingo | 20 Points |
| Dining, Spa, Golf, Gift Shops, Shows | 4 Points |
Redeem 1,000 points:
1 dollar in Premium Play used for slots, table games or bingo
Redeem 500 points:
1 Rewards dollar used for spa services, dining outlets, hotel, concert tickets and more!
Please note: Table Games redemption can only be made in $5 increments
Plus, Unlock Additional Rewards
- Personalized direct mail offers
- Premium Play for Slots and Table Games
- Dining Dollars
- Complimentary overnight stays
- Exclusive invitations to tournaments & VIP events
ACCESS LOYALTY CLUB RULES
Use your Access Loyalty card and start earning rewards! To become a member, visit the Players Club with a valid form of identification and sign-up for your card today. Every time you play slots, table games or BINGO be sure to insert or present your card first, so you earn the maximum amount of rewards. You can determine how many points you have available by inserting your Access card into any slot machine. You can also visit our Players Club to get this information.Access Rewards are based on play per casino. Therefore, your rewards may reflect different amounts at each property.
We encourage you to use your Access Loyalty card to earn rewards at both of our casino properties.
CHECK YOUR BALANCE
Download our Eagle Access mobile app and check your balance anywhere! The Soaring Eagle Casino Eagle Access app is avaiable in the iTunes App store and Google Play. You can also call to inquire the balance for your ACCESS Loyalty Account at 1-888-726-9633 (toll free) 24 hours a day, 7 days a week.ACCESS LOYALTY CLUB BROCHURE
Club information along with rules and regulations.Brochure
ANNUAL ACTIVITY REPORT
Request a report on your account activity.Form
Our way of saying THANK YOU!
The Hero Card is for all active duty and veteran members of the U.S. military. If you're already at an Access Card tier level with higher benefits, you'll keep those advantages instead. Card holders can earn and redeem points at any of our Soaring Eagle Properties listed below:
- Soaring Eagle Casino & Resort
- Saganing Eagles Landing Casino
- Soaring Eagle Waterpark & Hotel including Waabooz Run Golf Course & Hideaway RV Park
| HERO Card Benefits | |
|---|---|
| Room | $89 Weekday/$109 Weekend (Based on availability) |
| Entertainment | 50% OFF 1 concert ticket purchase per show (In-person Box Office cash & credit purchases only) |
| Play | $20 In Premium Play Loaded twice per month |
| Dining | $10 In Dining Credit Loaded twice per month |
| Spa | 20% OFF Products & services (In-person Spa cash & credit sales only) |
| Birthday Month | 1 Free Room (Based on availability) |
HERO CARD RULES & REGULATIONS
Accepting and using a Soaring Eagle Properties Access Loyalty HERO Card signifies understanding and acceptance of the Access Loyalty Program Rules and Regulations.A person must be at least 18 years of age and provide proper military ID (CAC card, DD Form 2 card or DD Form 214) to enroll in the Soaring Eagle Properties Access Loyalty HERO Program.
Valid government issued photo identification is required for any transaction. Identification must include a picture, signature, birth date, and expiration date. Expired or damaged identification is not valid for use.
All Soaring Eagle Casino & Resort, Saganing Eagles Landing Casino employees are not eligible to participate in Soaring Eagle Properties Access Loyalty HERO Program, drawings, or promotions.
All Access Loyalty HERO Program rewards and incentives earned by members' gaming and sales activity are at the sole discretion of the Soaring Eagle Properties Marketing Director/Management.
Access Loyalty HERO Program rewards and incentives are nontransferable.
See additional rules and regulations in Brochure below.
HERO CARD BROCHURE
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