Trump Entertainment Resorts (TRMP) List AC Property
Trump Entertainment Resorts (TRMP: 0.00 N/A) has put the Trump Marina Hotel and Casino on the market, sparking heated words from a business group pursuing the resort since 2008.
CEO Mark Juliano announced on Wednesday that they have retained CB Richard Ellis Global Gaming Group to help sell the Atlantic City casino, although reports had surfaced in June that negotiations had been revived with New York based Coastal Marina.
Coastal Marina had offered $270 million for the casino and planned to rebrand it to a Margaritaville, however a spokesman for Coastal Marina said that its offer had been ignored and that they were no longer interested in a deal.
“Coastal is done,” spokesman Jeremy Kleiman said. “They clearly have no interest in dealing with us. My honest view is that they are using us to engage the market. But we’re not going to be used like that.”
Trump Entertainment has planned to sell the resort as part of the restructuring of the company since exiting bankruptcy earlier this summer.
CB Richard Ellis Global Gaming Group has said that the company has already received expressions of interest in the property and would pursue those opportunities as well as others.
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