Sounds like what happened to Donald Trump. His casinos have been in bankruptcy court four times. Of course Trump always manages to slither out unscathed like the snake he is ...

Trump’s casinos get 1 more week in debt talks

ATLANTIC CITY - Donald Trump's embattled casino company today got a one-week extension, to Feb. 11, to keep talking with its lenders and bondholders.

Trump Entertainment Resorts Inc., which owns and operates the Trump Taj Mahal, Trump Plaza and Trump Marina casinos here, was given a similar extension two weeks ago to continue talks after it missed a monthly bond payment of $53.1 million due Dec. 1.

As a condition of a forbearance agreement reached after the 30-day grace period expired Dec. 31, the company also agreed to restructure about $1.25 billion of debt.

Trump's casino company is no stranger to Bankruptcy Court, and the decision prevented or delayed its fourth trip there.

After emerging from its last bankruptcy restructuring in May 2005, the company has struggled to maintain market share in Atlantic City.

To raise cash, the company put its casinos up for sale in 2007. Two takeover offers failed, and last year, Coastal Development L.L.C., of New York, announced that it had agreed to buy the Trump Marina for $270 million. The sale is expected to close in May, but Wall Street analysts say the tight credit markets could delay the closing.

Trump shares closed at 24 cents, down 2.08 percent.