In December, Resorts Atlantic City - the nation's first modern casino outside Nevada - was sold for $31.5 million. The discounted price is in line with the new market valuations for distressed casinos in Atlantic City. A spokesman for the New Jersey Casino Control Commission said a hearing has not yet been scheduled. That's a sign of how confident his company is of getting approval, he said. Attractions including 'the high-energy Rush Lounge and a unique new After Hours' will complement a new spa, poker room, race and keno room and a new H2O Pool and Lounge, which will introduce all-season hot tubs and fire pits.įertitta said his company will start some renovations immediately, before New Jersey casino regulators approve the sale. Landry's plans new bars and lounges, live entertainment, stores and updated rooms and suites. You will not recognize this place when we're done with it.' 'It's going to take a lot more than $50 million,' he said in a telephone interview. Things were so bad, Coastal Marina claimed in a lawsuit, the casino was putting plants under leaky windows and skylights to catch the drips when it rained rather than fix the leaks.įertitta said he was not concerned by the allegations in the lawsuit, adding that his company's renovation plans far exceed what Coastal envisioned.

After the economy tanked, Trump and Coastal Marina agreed to a lower price of $270 million, but the deal fell apart in June 2009 over disagreements about the physical condition of the casino.Ĭoastal claimed that summer that the Trump Marina needs at least $50 million in repairs. Trump Entertainment has been trying to sell the Marina casino since May 2008, when it struck a deal with Coastal Marina LLC, run by former Donald Trump protégé Richard Fields. Donald Trump, who owns 10 percent of the casino company that bears his name, termed the deal 'a wonderful transaction for the company and the buyer.' Trump Entertainment Resorts said it will use the proceeds to chip away at its debt, which was substantially reduced in the bankruptcy proceedings.

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