• Most Popular
  • Most Shared

Trump makes bid for namesake casino company-WSJ

Tue Jun 16, 2009 11:06pm EDT

Stocks

   

LOS ANGELES, June 16 (Reuters) - Real estate tycoon Donald Trump has made a bid to buy New Jersey casino operator Trump Entertainment Resorts Inc (TRMPQ.PK), which in February logged its third bankruptcy filing, the Wall Street Journal reported on Tuesday.

Stocks  |  Mergers & Acquisitions  |  Bonds  |  Global Markets  |  Bankruptcy

Trump, the casino operator's founder and one-time chairman, resigned in February when bondholders demanded a Chapter 11 filing after the company missed a $53.1 million bond interest payment.

Trump Entertainment, which owns three Atlantic City casinos, has had difficulty righting itself due to a heavy debt load and increasing competition from new casinos in nearby states such as Pennsylvania.

A deal had been was reached to sell the Trump Marina to Coastal Marina LLC for $270 million, but it fell through due to a lack of financing.

Neither Trump or Trump Entertainment was immediately available for comment. (Editing by Lincoln Feast)

Stocks
Mergers & Acquisitions
Bonds
Global Markets
Bankruptcy


More from Reuters

Photo

U.S. pay czar Feinberg OKs compensation at some bailout firms

WASHINGTON (Reuters) - U.S. pay czar Kenneth Feinberg on Wednesday approved compensation plans for several executives and top-paid employees at three firms that have received taxpayer aid.

» More Top News
An Iranian woman supporting former prime Mmnister Mirhossein Mousavi, who is a candidate for the upcoming presidential elections, covers her face with his picture during a pre-election gathering at a stadium in Tehran June 9, 2009. REUTERS/Damir Sagolj

A nation on the brink?

Nukes may not be the only ticking clock in Iran. The reformist movement is swelling and "it is going to get very violent."  Full Article 

Iran
A security guard walks past cars in a Geely Automobile Holdings Ltd. factory in a Shanghai suburb September 28, 2006.REUTERS/Aly Song
WEI GU:

China in auto power play

It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos.  Commentary | Video 

CHINA