10 a.m. Update - ATLANTIC CITY (AP) — A New York gambling company is buying Atlantic City’s Trump Marina Hotel Casino for $316 million, and will rename it “Margaritaville,” the companies said Thursday.
Coastal Marina LLC, an affiliate of Coastal Development LLC, is buying the casino from Trump Entertainment Resorts. Trump Entertainment is the casino company founded by real estate magnate Donald Trump. After the sale, the company will have two remaining casinos in Atlantic City: The Trump Taj Mahal Casino Resort, and Trump Plaza Hotel and Casino.
“They are buying a wonderful building in a great location,” Trump said in a statement. “It has been an important part of our company with a loyal customer base and a dedicated team.”
Richard T. Fields, chairman of Coastal Marina, said the casino will take on a new identity once the sale closes. No timetable was given.
For more coverage, check for updates here and look in Friday's edition of The Press of Atlantic City.
Thursday, May 29, 2008
Since Trump Marina doesn't have poker, this doesn't really belong here, however, there are many people who find the goings on in Atlantic City interesting, including myself. This article is from The Press of Atlantic City and I am sure it will have more information regarding the sale starting tomorrow.