Trump No More: Marina Becoming Golden Nugget Atlantic City
ATLANTIC CITY, N.J. (AP) -- Trump Marina, you're fired!
The Atlantic City casino that once bore Donald Trump's name changed hands Monday.
The casino was bought by Texas-based Landry's Inc., which renamed it the Golden Nugget Atlantic City. The sale was approved by the New Jersey Casino Control Commission.
Trump Entertainment Resorts sold the casino, one of three it owned, for $38 million in order to help pay down its debt. Just three years ago, it was to be sold for $316 million in a deal that fell through when the economy tanked.
The new owners plan to pump about $150 million into the casino, which has been one of Atlantic City's worst-performing in recent years.
Landry's owns the Golden Nugget in Las Vegas and Laughlin, Nev.
(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
