As Donald Trump continues to make a hasty retreat from Atlantic City it has been announced that the Trump Marina Hotel Casino has been sold for $316 million. The casino has quite literally been wasting away for a number of years and there were concerns that Trump would never find a buyer.
However after the deal is concluded, within about 9 months, the casino will receive a massive facelift and transformation from new owners Coastal Marina. It will be converted into more of an entertainment centre and be almost unrecognisable from the look of the development at the moment.
While the Trump team are putting a brave face on the issue, and are of the opinion that it is a fair deal for both parties, there are criticisms that the casino was left to waste away and the full value of the venue was not crystallised. On the other hand in the current market environment, and bearing in mind that Donald Trump has been trying to reduce his casino exposure of late, the price tag of $316 million is maybe not too bad.
What next for the great Donald Trump? If rumours are correct, he looks set to increase his exposure to the more leisurely sport of golf.