Trump Entertainment Resorts agreed to sell the Trump Marina Hotel Casino in Atlantic City for $38 million.
The casino will be sold to Landry's Inc., which operates the Golden Nugget casinos in Las Vegas and Laughlin, Nevada, Trump Entertainment Resorts said in a statement.
The transaction is expected to close in the second quarter, provided it receives regulatory approval.
Trump Entertainment Resorts plans to use the proceeds to reduce its long-term debt.
Learn the most important step in structuring an investment portfolio.View Course »