A Conviction for Donald Trump May Affect His Company's Operations but Not in Las Vegas
In the month of May, Donald Trump, the former US President, was declared guilty on 34 charges filed by prosecutors from New York. This made history as he would be the first president in the USA to be a convicted criminal if the decision stood the test of time in an appeal.
The news of the guilty verdict has prompted an influx of donations to Trump's 2024 presidential campaign. His followers feel that this case was a political witch hunt engineered against him by his opponents with the intention of discrediting his presidential bid. The conviction might cause disruption to his business operations.
Through his conglomerate, The Trump Organization, Donald Trump holds liquor licenses in at least nine states. Some of these states have certain requirements from liquor license holders, like having specific moral values and no previous felony convictions.
The New Jersey Division of Alcoholic Beverages is reportedly looking into whether he can still retain his liquor licenses there. The Trump Organization has licenses to provide alcohol at their golf courses located in Bedminster, Colts Neck, and Pine Hill.
Trump owns liquor licenses in Arizona, Florida, New York, Illinois, Nevada, Virginia, North Carolina, California, Hawaii, and Washington DC as well.
Impact in Las Vegas
Contrary to popular belief, the gold-plated building towering above the Las Vegas Strip with Trump's name on it is not a casino. It's a 64-storey hotel-condominium complex called the Trump International Hotel & Tower. It's a luxurious residential high-rise hotel featuring 1,232 condominium suites and 50 "exclusive penthouse suites". It offers amenities like white-gloved doormen and 24-hour concierge service.
Trump International is co-owned by The Trump Organization and his longtime friend, billionaire Phil Ruffin.
The state of Nevada, where the hotel is located, has regulations that require liquor licensees to have "good moral character." It doesn't specifically mention that having a felony conviction is a disqualifying factor for a liquor license. Therefore, it's likely that alcohol will still be served at the property's two restaurants, DJT Restaurant & Bar and H2(EAU).
Trump has never owned a casino in Nevada or Las Vegas. He had previously owned several commercial casinos in Atlantic City and Indiana, and held a stake in a tribal casino in California's Coachella.
2024 Election Odds
Despite the legal setback, Trump continues to be the favorite to win the November 2024 presidential election.
Bookmakers in the UK, where political betting is legal, have Trump's chances at -140, which implies a 58% probability of winning. Biden is set at +140 or a 42% chance.
Trump's fundraising has seen a boost post-conclusion, with his campaign receiving a $35 million contribution the day after the verdict. He has also received financial support from billionaires Stephen Schwarzman and Dr. Miriam Adelson.
The latter is the widow of Sheldon Adelson and still the largest shareholder in the Las Vegas Sands casino empire. Schwarzman's Blackstone controls the Bellagio, The Cosmopolitan, Aria, and Vdara on the Las Vegas Strip.
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