Trump sells Atlantic City casino for $316M

Donald Trump is selling the Trump Marina Hotel Casino in Atlantic City
for $316 million to New York-based Coastal Marina, an affiliate of
Coastal Development. It will be renamed Margaritaville. Richard Fields,
chairman of Coastal Marina, is the co-developer of the Seminole Hard
Rock Hotel and Casino in Florida. Trump Marina reported a 48.2 percent
drop in gross operating profit in the first quarter. Trump Entertainment’s two remaining Atlantic City casinos are the Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino.