In 1988 Donald J. Trump would settle to pay $750,000 with the United States government for his violation of the Hart-Scott-Rodino Act. The Act itself was signed into law in 1976 by Gerald R. Ford.
The HSR Act provides that parties must not complete certain mergers, acquisitions or transfers of securities or assets, including grants of executive compensation, until they have made a detailed filing with the U.S. Federal Trade Commission and Department of Justice and waited for those agencies to determine that the transaction will not adversely affect U.S. commerce under the antitrust laws. While parties can carry out due diligence and plan for post-merger integration, they may not take any steps to integrate operations, such as an acquiring party obtaining operational control of the acquired party.
Without any notification Donald J. Trump would purchase millions in voting stock for two companies Holiday Corp. and Bally Manufacturing Corp. Anti-trust laws prevents our market prices from being dictated from one company.
Bally Manufacturing, (Bally Entertainment), started out as a pinball and slot machine manufacturer in 1932 but by the 1970s it would expand into the casino business in Atlantic, New Jersey. Its other business includes video games, health clubs, and theme parks. Bally makes gambling equipment and was considered to have dominated the slot industry.
In the 1980s Trump began purchasing business on Atlantic City board walk and in 1982 he purchased a casino license. His purchase in the Holiday Corp. would make the Holiday Inn property the new setting for Trumps plan for a casino he would name Trump Plaza Hotel and Casino.