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But with sagging revenues and high costs, his casinos had too little money for renovations and improvements, which are vital for hotels to attract guests.

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The chief executive cited the debt level after the 2009 bankruptcy as the primary reason.Find out what you need to know about the 2016 presidential race today, and get politics news updates via Facebook, Twitter and the First Draft newsletter.

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Trump had become a commanding figure in Atlantic City, with his casinos accounting for nearly a third of its gambling revenues and employing more than 8,000 people.

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Trump to invest in the company shortly before the bankruptcy was filed.

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Trump was already asking his bondholders to accept less money, in preparation for a third casino bankruptcy.

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