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Trump Casino Company Thinks over their Options

Last March 9th, 2007, the casino owned by business mogul Donald Trump employed a financial adviser that will review the company's option on whether they should refinance, sell out the whole casino or even sell out their entire interests in Atlantic City, according to two people who know the move planned by the casino.

Trump Entertainment has hired the services of Merrill Lynch to help them evaluate the current options that are laid out before them, according to the sources. The sources also said that Trump Entertainment Resorts is also interested in the ongoing merger on the casino gambling industry.

Although it has only been three years since Trump Entertainment Resorts have gotten out of the Chapter 11 bankruptcy protection, Trump Resorts have been besieged with a lot of competitors coming from the areas of Pennsylvania and New York and with the looming smoking ban in the casinos in Atlantic City.

Trump Resorts have also lost in a casino slots bid in Philadelphia. Prudential Equity Group analyst Joel Simkin said that they believe that the Trump group will continue to experience a difficult year 2007 and 2008 as they become increasingly affected by the slots parlors that are in Pennsylvania, the Atlantic City Smoking Ban and their failed casino slots license in Philadelphia.

But the company has enough assets and properties that could capture the interest of a prospective buyer in Atlantic City. Simkins also said that the possible buyers range from the Penn National, Ameristar and Pinnacle Entertainment but Private Equity companies can be in the forefront of this deal since the company has a lot of debt.


28 August 2007