Trump Marina/Margaritaville

Have there been any updates to the change from Trump Marina to Margaritaville? The only thing Ive found is the original article from May 2008. I was there within the last month and nothing looks any different and there arent any changes as far as Ive seen.

Trump Marina/Margaritaville

There was an article last week in a local paper but I didn%26#39;t keep the link and it didn%26#39;t have a date on the sale.

Trump Marina called yesterday with June offers and stating the Trump Marina Inside book was in the mail. Check online for offers.

Good Luck!

Trump Marina/Margaritaville

havent read anything. i know talking to employees last year most of them were pretty excited about it.

only stopped in for an hour last month and except for some cutbacks on drinks you can get,and them just now recently ending their online games for comps program i think its all back to the economy and more negotiations.

blackjack is a big marina guy im sure he will add something to this since he spent some time there recently

I know about the online comps being stopped, and that sucks. I loved that the most about them. Ijust recently stayed there for the first time, and i liked it. I mean, its far from everything else, but I would much rather it stayed Trump.

I wonder whats taking Buffet so long to pay up already.

Here is a link from a Philly paper form last month.

philly.com/philly/business/20090416_Bankrupt…

Trying again

philly.com/philly/business/20090416_Bankrupt…

Thank you for the responses...I guess its still up in the air..

The word around the tables two weeks ago was that Coastal had already ordered new chips.

In Todays news...

Posted on Fri, May. 15, 2009

Sale of Trump Marina Casino probably is off

By Suzette Parmley

Inquirer Staff Writer

The deal to sell the Trump Marina Casino in Atlantic City, a struggle for months, is nearly dead.

Trump Entertainment Resorts Inc., the owner of Trump Marina, has asked Lazard Asset Management L.L.C. to shop the troubled property as part of its bankruptcy filing on Feb. 17.

The move has Coastal Development L.L.C., of New York, a potential buyer, crying foul as the May 26 deadline to close the deal approaches.

';Coastal Marina [an affiliate of Coastal Development] is troubled by recent reports that suggest that Trump . . . may be actively engaged in promoting the sale of the Trump Marina Hotel and Casino to other potential buyers in breach of its exclusive agreement to sell the property to Coastal,'; company spokesman Charlie Leonard said yesterday.

Trump officials contend Coastal has not proceeded on making the purchase.

Mark Juliano, chief executive officer of Trump Entertainment, confirmed that Lazard was marketing the three Trump casinos - Trump Taj Mahal, Trump Plaza, and Trump Marina. He said Lazard was the firm%26#39;s financial adviser, and that ';it was doing its job'; in showing the company%26#39;s assets around.

';From the day we filed for bankruptcy, we had 120 days to submit a plan of reorganization,'; Juliano said. ';That plan must include the marketing efforts that were undertaken to market the company and results of that.';

Juliano said that if another party stepped forward and was interested in buying the whole company, then it would have to honor the contractual agreement that Trump Entertainment entered with Coastal on May 29, 2008.

Under the deal, Coastal plans to buy and convert the Trump Marina into a Margaritaville-themed casino using entertainer Jimmy Buffett.

But the deal has been beset with problems as the economy and lending markets sagged over the last year.

The Marina sale was revised last fall, reducing the price to $270 million from the original offer of $316 million. A deadline to close the deal in October was moved to May 26.

';They have not asked for another extension, and I don%26#39;t assume they will,'; Juliano said of Coastal yesterday.

Charles A. Stanziale Jr., the lawyer representing Trump Entertainment in its latest bankruptcy, said Coastal had not contacted him for several weeks.

There are other signs the deal is in serious trouble. Coastal does not have interim casino authorization, which is required in acquiring a casino property in New Jersey, according to the state Casino Control Commission.

bplayin

Again..thank you!