NEW YORK (Reuters) - Real estate tycoon Donald Trump said on Friday he has decided to resign from the board of Trump Entertainment Resorts due to disagreements with bondholders who want the casino group to file for bankruptcy.
Trump, chairman and founder of the firm, said in a statement that he will leave amid "internal turmoil" that was being "compounded by dramatically deteriorating revenues." His daughter Ivanka Trump is also resigning, he said.
The statement did not say when Trump's resignation would be offered or take effect.
Trump's announcement comes after the company missed a $53.1 million bond interest payment due on December 1 as a sharp downturn in consumer spending hit casino revenues.
Trump said the company represents less than 1 percent of his net worth, and that "my investment in it is worthless to me now."
The Wall Street Journal reported on Friday that bondholders are planning to force the company into involuntary Chapter 11 bankruptcy early in the coming week, a move Trump has resisted.
(Reporting by Ritsuko Ando and Jonathan Stempel; Editing by Gary Hill)
