Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Quick Hits: Trump Dumps Marina Hotel and Casino


Brief scrutiny of today's headlines.


Donald Trump may soon enjoy a cheeseburger in paradise. The real-estate mogul is selling his Trump (TRMP) Marina Hotel and Casino to Costal Marina, LLC, which plans to refashion the ailing property into Jimmy Buffet's Margaritaville and bring a laid-back tropical theme to Atlantic City.

Trump plans to hold onto his two other Atlantic City properties, the Taj Mahal Trump Plaza Hotel and Casino. According to the Press of Atlantic City, the debt-strapped Taj Mahal will debut a new 786-room tower Labor Day weekend. The $255 million expansion will help the casino better compete with the host of other boardwalk hotels.

The Trump Marina has faced tough competition from neighbors Borgata and Harrah's (HET). Harrah's expanded to the tune of $365 million in April and the Borgata will unveil a new $400 million tower in mid-June.

The Buffet brand has locations in Key West, Florida, Myrtle Beach, South Carolina and Las Vegas, to name a few. This will be the theme restaurant's first location in the Northeast.

There will plenty of tequila in the blender come Christmas when the $316 million deal is expected to close.

For more on The Donald, check out Hoofy & Boo's always astute report:

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.







Featured Videos