International edition
September 25, 2021

New Century Investments expressed interest in the company

Trump Entertainment CEO surprised by new bidder

(US).- Trump Entertainment Resorts chief executive said he was surprised by a private equity fund's announcement this week that it wanted to participate in the bankrupt company's restructuring.

T

he fund, New Century Investments, had previously expressed interest in the company, but could not "verify their financial wherewithal," said Trump CEO Mark Juliano.

Trump last spoke to the fund in February and has not heard from it since, Juliano said.

New Century said in a statement that it has been following the company since late 2008 and now believed it was "time for us to make our move." They did not provide details about how they planned to participate in the restructuring.

Media representatives for New Century could not be reached for comment.

Trump Entertainment filed for Chapter 11 bankruptcy protection in February, its third bout in bankruptcy court. In August, co-founder Donald Trump and an affiliate of Beal Bank Nevada filed a proposal to buy the company and take it public, but Trump's bondholders countered with a plan.

Juliano said New Century had initially sought to buy the company outright, but it was now his understanding that the fund wanted to join either the bondholders or the Trump-Beal venture.

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