Trump resort arm gets debt extension

Trump Entertainment Resorts struck a deal with lenders and note holders
and now has until Jan. 21 to try negotiating a restructuring of its
debt, according to a recent regulatory filing from the company. Trump
had delayed paying a $53.1 million bond interest payment that was due
Dec. 1, and the 30-day grace period expired Wednesday. The Atlantic
City, N.J.-based company had hoped to reach a deal to restructure $1.25
billion in bond debt during that period. Trump Entertainment currently
owns three casinos in Atlantic City, N.J., but hopes to sell one — the
Trump Marina Hotel Casino — by May. Coastal Development LLC has agreed
to buy the property for $270 million.