International edition
June 12, 2021

On US$38 million

Nevada's Golden Nugget will buy Atlantic City's Trump Marina

(US). - The Trump Marina Hotel Casino will be sold to Landry's, the operator of the Golden Nugget casinos in Las Vegas and Laughlin, Nevada. The sale is expected to be completed during the second quarter of 2011 and is subject to receipt of required regulatory approvals and other customary closing conditions.

T

he casino will be renamed Golden Nugget Atlantic City, according to company web site. As a result of the sale, Landry's expect to add Landry's staples including seafood restaurant Chart House, Red Sushi, Lillie's Asian Cuisine and Noodle Bar.

The price tag of the sale, about US$38 million, is subject to a working capital adjustment at closing. According to a news release, Trump Entertainment Resorts expects to use the net proceeds from the transaction to reduce its long-term debt of about $344 million.

"We are excited to bring the Golden Nugget back to Atlantic City," Tilman Fertitta, chairman, president, CEO and owner of Landry's, said in a press release. "Our plan is to transform the Trump Marina into a luxurious and exciting hotel and casino with the highest level of service." Fertitta add that all improvements should be completed by the end of the year.

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