Donald Trump and the Trump Marina Hotel Casino
Restaurant owner Landry’s has reached an agreement with Trump Entertainment Resorts to purchase the Trump Marina Hotel Casino in Atlantic City for $38 million, according to Bloomberg. Houston-based Landry’s, best known as the owner and operator of the Golden Nugget casinos in Las Vegas and Laughlin, Nev., will spend around $150 million on the first phase of a renovation project there, including new restaurants, a spa, pool and room improvements, said CEO Tilman Fertitta. The property, which is expected to officially change hands during the second quarter, will also be rebranded as a Golden Nugget resort. The casino had been on the block since the summer, when Marc Lasry, CEO of Avenue Capital Group, which is Trump Entertainment’s largest shareholder, told New Jersey regulators that he was looking for a buyer for the property. [Bloomberg via Post]