Trump Entertainment Resorts to Sell Atlantic City Casino

Trump Marina hotel and casinoTrump 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.

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Sounds like a pittance. Compared with the new Las Vegas casinos, which routinely cost more than $1 Billion, this $38M is little more than a rounding error. By the way, does Donald own any part of this?

February 15 2011 at 11:00 AM Report abuse rate up rate down Reply