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Trump buys casino firm bearing his name
Tuesday, August 4, 2009 at 9:38:42 AM
Donald Trump and Beal Bank Nevada will invest $100 million in Trump Entertainment Resorts, the casino company that bears the real estate mogul's name, and take the company private.
Trump's bid bested a competing bid backed by bondholders, whose refusal to deal with Trump in February led him to resign as chairman of the company.
Trump Entertainment filed for bankruptcy protection in February, the third time it or one of its predecessors had done so. The deal still needs approval from the bankruptcy court.
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