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For his two competitors, their ambition, greed, and poor management cost them dearly in millions of dollars. Without approval for a gaming license, both Guccione & Hefner lost millions investing into property and building costs that became worthless. Trump’s visionary strategy supported his practical logical investing fortitude to forego buying the land lease at a fractional cost of $500 million and opted to wait for the gaming commission’s licensing approvals first. Once Trump secured the gaming license, the same land now cost about 7 million dollars which was worth every penny because it now allowed him the leverage to build and enhance his property value (Trump: The Art of a Deal, 1987, p...
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