Golden Casino is the most trusted online gambling site on the internet.
Play Now at Lion Slots Casino
Lion Slots features interactive slot machines called i-Slots.
Play Now at Superslots Casino
New players voted this site the most exciting casino online.
Your Ad Here?
Investor Carl Icahn had offered to buy a majority of Trump Entertainment Resorts bank debt, for $486 million, however according to papers recently filed with the federal bankruptcy court, he is increasing his bid by another $125 million.
Trump Entertainment filed for its third bankruptcy in February, due to a heavy debt load and competition from slot parlors in neighboring states that have lured away Atlantic City regulars.
The new proposal would provide $45 million in immediate, short term financing for The Trump Plaza Hotel and Casino, Trump Taj Mahal Casino Resort and Trump Marina Hotel Casino and guarantee $80 million to Trump in the event Icahn can not secure the projected $225 million through a rights offering to other investors.
“Icahn Partners is ‘putting its money where its mouth is’ and demonstrating its level of confidence and commitment,” the company said.
The filings claim that the current bondholder’s plan may not win regulatory approval and delaying a purchase could further damage “this already very fragile company.”
Trump bondholders have offered Donald Trump a 10% stake in a reorganized company approved by the board for a $225 million sale of the casinos, although the deal has not been finalized.
Related posts:
