Donald Trump is seeking to distance himself from Trump Entertainment Resorts, the casino company he founded, after it filed for bankruptcy protection for the second time in four years. The television star and property mogul continues to own a stake of about 28 per cent in the debt-laden group but resigned from the board last week following a dispute with the company's bondholders.

(Bloomberg) - Trump Entertainment Resorts Inc. filed for bankruptcy protection overnight before the casino operator’s bondholders could present an involuntary petition. The Chapter 11 petition, filed days after founder Donald Trump quit the board, listed assets of USD 2.06 billion and debt of USD 1.74 billion as of Dec. 31, according to the filing today in U.S. Bankruptcy Court in Camden, New Jersey. This is the third time Trump’s casinos have sought protection from creditors.

Faced with several foreclosure actions and no sources of fresh funding, the owners of the boarded-up Moulin Rouge hotel and a couple of adjacent properties turned to Chapter 11 bankruptcy protection on Nov. 17. Henderson-based CapSource scheduled a foreclosure sale just hours before the bankruptcy filing, representing investors who had loaned owner Moulin Rouge Properties USD 2.5 million.

Detroit - Greektown Casino has filed for bankruptcy protection, but said Friday its gambling operations and ongoing expansion project that includes a permanent hotel won't be disrupted. Greektown Holdings LLC, Greektown Casino LLC and their affiliates filed for Chapter 11 bankruptcy protection Thursday in U.S. Bankruptcy Court in Detroit after failing to comply with terms of a credit line. "As we reorganize our business and complete our permanent casino construction...