Losses at President Donald Trump’s two golf resorts in Scotland doubled last year, according to reports in the Associated Press and Bloomberg.
The president lost $23 million at Trump Turnberry in 2016 while revenue fell 21 percent to $11.7 million. Trump International Golf Links north of Aberdeen posted losses of $1.8 million, an increase of 28 percent, while revenue fell 12 percent according to Bloomberg.
Overall, revenue at both golf courses fell 21 percent to $11.7 million in 2016 from $15 million the year before.
Trump, who handed over management of Trump Organization to his two sons before becoming president, has poured cash into the properties as a result, but neither has made a profit. He increased his loan to Turnberry in 2016 from $82 million to $146 million from a year ago for renovations, and loaned an additional $1.6 million to Trump International Golf Links because of declining revenue.
The losses at Turnberry were due to resort closure for renovations and currency fluctuations. At Trump International Golf Links, the company blamed a drop in the price of oil for the revenue losses, along with a downturn in the economy of northeast Scotland.
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