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Trump Entertainment Looking for Buyer for Casino

The July 16, 2023, By Harley Reid

Trump Entertainment, owners of the bankrupt Atlantic City Casino company, is in talks with a number of companies to see the Trump Marina Hotel Casino buy the casino. online casino news: Trump Entertainment Looking for Buyer for Casino

Discussions are under way with interested buyers, Marc Lasry, chief executive officer of New York-based Avenue Capital Group, told the New Jersey Casino Control Commission today in Atlantic City. Lasry and Avenue Capital, which will own 22 percent of Trump Entertainment once it exits bankruptcy, gained interim licensing approval from the panel.

Billionaire Lasry, along with other bondholders and company founder Donald J. Trump, won control of Trump Entertainment in April when a bankruptcy judge ruled their bid was better for creditors than a competing offer by investor Carl Icahn. Today’s licensing and plan approvals will pave the way for Trump Entertainment’s three Atlantic City casinos to exit bankruptcy for a third time. .

“The Marina needs, how do I say this nicely, it needs updating,” Lasry said. “It’s in a phenomenal location, but it’s a bit old, and it’s a bit dated.” .

Trump Entertainment, which last emerged from bankruptcy in May 2005, owns the Trump Taj Mahal Resort, Trump Plaza Hotel & Casino and Trump Marina. The three properties also went through bankruptcy in the 1990s. .





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