Even though the Donald is the largest shareholder in the company, he does not have complete control nor is he involved in the day to day management. His main company, the Trump Organization is separate from the Casino company and whatever happens will not affect those operations in anyway; except of course the biggest asset Trump has -- his ego.
In typical Trump fashion, Donald Trump is turning the casino company's woes into yet another publicity stunt - claiming that he tried to buy control of the company but was turned down by the bondholders. He's also stated that he has a plan to make the company solvent and wishes to run it again. Apparently he forgot that the last time he tried to run the company, it also ended up in bankruptcy -- twice.
In Donald's never ending attempt to boost his ego, he said:
"..less than 1 percent of my net worth, and my investment in it [Trump Entertainment Resorts] is worthless to me now."
"While the Trump Organization grows and flourishes, Trump Entertainment Resorts, of which I am a stockholder, has languished," he said. "The Trump Organization's portfolio of residential, commercial, hotel and golf properties has expanded all over the world, while Trump Entertainment Resorts has yet to diversify outside of Atlantic City."
It looks like this is nothing more than Trump trying to distance his name from anything that isn't successful.