Gaming giant Bally’s paid $60 million to buy the right to operate a public golf course in New York City from Donald Trump’s company, the former president’s namesake son testified Thursday. The terms of the lease transfer on the former Trump Golf Links Ferry Point hadn’t been disclosed when the deal became public earlier this year. But the price emerged as Donald Trump Jr. was questioned on the witness stand Thursday at the civil fraud trial that’s delving into the ex-president’s finances and the family business’ dealings. Trump Jr. said the sales price was $60 million, but the Trump Organization had incurred “a lot of costs” over the years, so he wasn’t sure of the net profit.
Quick Read
- Gaming company Bally’s acquired the rights to operate a public golf course in New York City from Donald Trump’s organization for $60 million, as revealed by Donald Trump Jr. during his testimony.
- The lease transfer details of the former Trump Golf Links Ferry Point were undisclosed until Donald Trump Jr.’s statement in court.
- Despite the sales price, Trump Jr. noted the Trump Organization had many costs over the years and was uncertain about the actual net profit.
- The golf course, rebranded as Bally’s Golf Links at Ferry Point, was under Trump Organization management from 2015 until the sale.
- Bally’s acquisition followed NYC’s attempts to dissociate the course from Trump after the January 6 Capitol riot, with then-Mayor Bill de Blasio seeking to end the contract, claiming Trump’s incitement of the rioters provided legal grounds.
- A judge overturned this effort, which would have permitted the Trump Organization to retain operation rights until the lease’s 2035 expiration.
- Bally’s deal received approval from NYC’s comptroller and parks department.
- Trump Jr.’s testimony is part of the ongoing civil fraud trial initiated by New York Attorney General Letitia James, accusing Donald Trump and his company of exaggerating his net worth for financial benefits.
- Defendants, including Trump and his sons, deny all allegations of misconduct.
- Donald Trump is expected to testify on Monday and has denounced the trial as “rigged” and “election interference” on his social media platform, Truth Social.
The Associated Press has the story:
Trial testimony: Gambling Bally’s paid $60M to take over Trump’s NYC golf course
Newslooks- NEW YORK (AP)
Gaming giant Bally’s paid $60 million to buy the right to operate a public golf course in New York City from Donald Trump’s company, the former president’s namesake son testified Thursday.
The terms of the lease transfer on the former Trump Golf Links Ferry Point hadn’t been disclosed when the deal became public earlier this year. But the price emerged as Donald Trump Jr. was questioned on the witness stand Thursday at the civil fraud trial that’s delving into the ex-president’s finances and the family business’ dealings.
Trump Jr. said the sales price was $60 million, but the Trump Organization had incurred “a lot of costs” over the years, so he wasn’t sure of the net profit.
The Trump Organization managed the 18-hole course, which is visible from the Whitestone Bridge and boasts views of the Manhattan skyline, from 2015 until this year. It’s now called Bally’s Golf Links at Ferry Point.
A phone message left with a Bally’s media relations representative wasn’t immediately returned.
The lease sale came after the city strove to strip the course of its association with the former president after the Jan. 6, 2021, attack on the U.S. Capitol.
Following the insurrection, then-Mayor Bill de Blasio said he would scrap the contract with the Trump Organization, claiming that Trump had incited the rioters and thus given the city legal authority to do so.
A state judge rejected that argument last year. The ruling would have allowed the Trump Organization to operate the course through the expiration of its lease in 2035.
The Bally’s deal was approved by both the city comptroller and the city’s parks department.
Trump Jr. was on the stand Thursday for a second day in the trial of New York Attorney General Letitia James’ fraud lawsuit. She has accused the former president, his company and some executives of inflating his net worth on financial statements that went to banks and insurers to secure loans and make deals.
The former president and other defendants, including his elder sons, Executive Vice Presidents Donald Jr. and Eric, deny wrongdoing.
The former president and current Republican 2024 front-runner is due to testify Monday. He reiterated on his Truth Social media site Thursday that he sees the trial as “RIGGED,” a “Miscarriage of Justice,” and “Election Interference.” James and Judge Arthur Engoron are Democrats.
“The Trump Organization is Financially Strong, Powerful, Very Liquid, AND HAS DONE NOTHING WRONG,” Trump wrote.
