The Real Deal Miami

Trump-bondholder stalemate over AC casinos ends

November 18, 2009 11:59AM

Don’t expect Trump’s Atlantic City hotels to take on new nomenclature anytime soon. Trump Organization CEO Donald Trump and daughter Ivanka, the company’s executive vice president, met with bondholders yesterday over three of Trump Entertainment Resorts’ Atlantic City casinos. The two sides reached an agreement in which Trump will retain a 10 percent stake and the company keeps control of the right to use his namesake, the Associated Press reported. The two sides had been locked in stalemate, with Trump offering $14 million to pay off bondholders and the bondholders ponying up $225 million to buy the company out of bankruptcy.