Trump Entertainment Files For Bankruptcy for Third Time

For the third time the three Atlantic City, New Jersey casinos that bear the name of Donald Trump are filing for bankruptcy - just days after the real estate developer and reality TV star resigned as chairman of the board.

Trump Entertainment Resorts, which owns the Trump Taj Mahal Casino Resort, the Trump Plaza Hotel and Casino and is in the process of selling the Trump Marina Hotel Casino filed for bankruptcy protection in New Jersey today.

Trump, who told the Associated Press that the company "represents substantially less than 1 percent" of his $3 billion net worth estimated by Forbes, says he is now associated with the company in name only.

"Other than the fact that it has my name on it - which I'm not thrilled about - I have nothing to do with the company," Trump told the AP.

Trump's daughter, Ivanka, also resigned from the company's board last Friday when an offer from the elder Trump to buy the company and take it private was rebuffed.

The billionaire says he may consider taking legal action to stop the New Jersey casinos from using his name in the future.