Trump to Atlantic City casinos: "You're fired!"

August 6, 2014: 4:13 PM ET
trump taj mahal
Good bye, Atlantic City: Donald Trump is dumping the Taj Mahal.
NEW YORK (CNNMoney)

Here's a new one: This time, Donald Trump wants to take his name off of something.

Trump filed suit in New Jersey Tuesday to have his name removed from both Trump Taj Mahal and the troubled Trump Plaza.

That's not quite as crazy as it sounds.

The Donald, as he calls himself, did build and open the casinos back in the '80's and '90's. But in 2009 Trump unloaded his stake in the entity that runs them, Trump Entertainment Resorts, and instead licensed the use of his name to the company.

But now Donald Trump says that the Atlantic City casinos are simply no longer good enough to bear his name.

In the lawsuit, Trump says Trump Resorts allowed the casinos "to fall into an utter state of disrepair." He says that's a violation of the license agreement.

The suit says that the brand, with its "superior reputation," must be used in a "dignified manner" consistent with the "highest quality."

"I'd love nothing more than for the current managers and owners of these hotel casinos to operate them to the highest standards of luxury and success, but unfortunately that is not happening," Trump said in a statement. "We have no choice but to terminate."

The Trump brand: Real luxury or just hype?

Trump added that he hasn't even been to Atlantic City "in many years."

Trump Plaza isn't expected to last much longer, anyway. Last month, the casino notified its employees that the business is expected to shut down after Sept. 16.

Trump Casino in Atlantic City set to close

A spokesman for Trump Entertainment Resorts did not return messages from CNNMoney.

Atlantic City has fallen on hard times. Annual revenue for the city's casinos fell 6.2% last year to $2.9 billion.

Even as Atlantic City's fortunes fall, Las Vegas is enjoying something of a renaissance. MGM Resorts (MGM), owner of the Bellagio and MGM Grand, reported strong earnings on Tuesday, with hotel occupancy rates soaring to 96% even as room rates rose.

Search for Jobs