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Following the news that Bondholders will gain control of Trump Entertainments three casinos, CEO Mark Juliano says the company’s first priority is to revitalize the Trump Taj Mahal Casino resort, Trump Plaza Hotel and Casino and Trump Marina Hotel Casino.
The company plans to seek additional opportunities in other states to lessen their dependence on the struggling gaming market in Atlantic City.
That move will be possible when the company is able to sell the Marina hotel and casino.
Plans are underway to attempt to revive a broken deal with a New York developer Coastal Marina LLC. Previous plans to sell the casino had fallen through after Trump Entertainment was forced to file bankruptcy earlier this year. The sale price had already been negotiated downward to $270 million from $316 million, adjusting for decline in value due to economic conditions, the going rate, now, is expected to be much lower.
However if Coastal Marina is not interest, Juliano said that they will seek out another buyer.
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