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Trump Marina casino being sold for $316M
Thursday, May 29, 2008 at 10:54:32 AM
Atlantic City's Trump Marina Hotel Casino is being sold for $316 million to a New York company that plans to rename it "Margaritaville."
Coastal Marina LLC, an affiliate of Coastal Development LLC, said Thursday it is buying the casino from Trump Entertainment Resorts Inc., the casino company founded by real estate magnate Donald Trump.
After the sale, Trump Entertainment 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."
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