Trump Golf Course Reports Staggering Losses Over $4,000,000

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Losses at Trump’s golf resort in the area of Doonbeg, Ireland, have now hit a staggering level, as summarized by a new report from the Irish Examiner. As explained by the publication, the “impact of Covid-19 closures and restrictions resulted in pre-tax losses more than doubling” at the Trump-owned property. Specifically, pre-tax losses for last year reached 3.59 million Euros, which works out to a little over $4 million. For obvious reasons (i.e., the pandemic), revenues for the property went from 11.99 million Euros during the year prior (2019) to just 3.76 million Euros last year.

For comparison, pre-tax losses recorded at the property in 2019 hit just 1.37 million Euros — less than half of the losses that the property sustained last year. Notably, the Examiner explains that financial reports “confirmed that the company received €496,565 in Government grants last year” — meaning that apparently, a Trump-tied business operation was getting huge sums of money from Irish authorities to support its continuance amid the pandemic’s impact on hospitality businesses. Trump himself abandoned a formal leadership role at his company in tandem with his election as president, but he’s kept himself financially tied to its operations.

A report from the operation handling the Irish property claims that business “has returned to pre-Covid-19 levels of trading since” its reopening earlier this year, although it would certainly be worth keeping in mind that the Trump Organization remains under criminal investigation in New York for potentially fraudulently falsifying its valuations of its properties in order to try and obtain financial benefits like favorable loan terms and tax breaks. In other words, the Trump company tends to be about as untrustworthy as Trump himself.

Interestingly, the Examiner report adds that as for “the progress of the business this year, the directors [including Eric and Donald Trump Jr.] state that with the rollout of the National Vaccination Programme and the Government’s re-opening strategy, they are confident that the business can achieve its budgeted results for the remainder of this period and return to normal trading conditions in the near future.” So, it seems as though Trump’s own business isn’t as broadly opposed to a vaccination push as he is — as long that lifesaving program can help provide a financial boost to the company’s bottom line.

Elsewhere in the area, Trump has faced pressure over his two Scottish courses, with the advocacy group Avaaz pressing for the pursuance of an unexplained wealth order targeting Trump over the properties. The order would require Trump to disclose where he obtained funding for the properties, with the aim of rooting out money laundering. Unfortunately, a judge recently rejected a case from Avaaz that was pushing for such an order.