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Just four days after Donald Trump resigned as chairman of the board, Trump Entertainment Resorts filed bankruptcy in Camden, NJ. Donald Trump had offered to buy the company to save it from bankruptcy and make it a private company, but the board refused the offer, instead determining that bankruptcy was a better option.

The Trump Casino’s listed over $1 billion in debts, with just over $2 billion in assets on the bankruptcy petition. The casinos will operate during the bankruptcy proceedings, the third time the company has been through the bankruptcy process. The sales of Trump Marina, one of the three casinos under the Trump Entertainment Resorts umbrella, is supposed to take place as planned to Richard Fields who is a former protege of Donald Trump.