The clip shows Trump — now the Republican nominee for president — and his then-wife Ivana Trump seated in the front row next to Robert LiButti the during WWF's "Wrestlemania IV" at Convention Hall. Trump, who owned two casinos in Atlantic City at the time, helped bring the event to the venue.
LiButti's daughter, Edith Creamer, said they were Trump's guests at the event, according to the Yahoo News report, written by investigative journalist Michael Isikoff.
The website said it was given the video by a confidential source who discovered it in the online archives of World Wrestling Entertainment.
Six years after Donald Trump left Atlantic City, his record there is suddenly relevant again now that he's the front-runner for the Republican presidential nod
Yahoo News reported that when asked about the video, Hope Hicks, a spokeswomen for Trump's campaign, replied: "This was obviously a massive event, which took place decades ago. Mr. Trump attended many similar events with thousands of people during this time period."
Trump has repeatedly denied having a close relationship with LiButti, who died in 2014.
"If he was standing here in front of me, I wouldn't know what he looked like," the real estate mogul told the Philadelphia Inquirer in 1991.
In March, Yahoo News examined Trump's alleged ties to LiButti. At the time, Trump told the website: "During the years, I very successfully ran the casino business, I knew many high rollers. I assume Mr. LiButti was one of them, but I don't recognize the name."
Creamer, LiButti's daughter, responded by calling Trump a "liar" and asserted that her father even flew on Trump's private helicopter and attended parties on Trump's yacht.
LiButti was banned from New Jersey's casinos in 1991 because of his alleged ties to Mafia boss John Gotti.
The same year, the state's Casino Control Commission fined Trump Plaza — one of the four Atlantic City casinos Trump operated between 1984 and 2009 — over its Trump dealings with LiButti, a high-stakes gambler.
The casino was fined $200,000 for violating New Jersey anti-discrimination laws after investigators found it accommodated LiButti's demand that blacks and women be kept away from him while he was gambling.