Houston Company Landry's Buying Trump Marina Hotel Casino In AC
The casino gambling industry in Atlantic City has never been as low as it is currently, and casinos in the city are being sold at dirt cheap prices. The latest casino sale to surface is that of Trump Marina Hotel Casino.
The casino is expected to buy Trump Marina for a price of $38 million. If that sounds like a low price for a casino in AC, it is because it is. The gaming industry in the city has dropped to such a level that casinos are practically being given away.
Several casinos have been sold in the past couple of years, and with each sale comes a new owner that believes they can be part of a gaming turnaround in Atlantic City. In the case of Trump Marina, the buyer is Landry's Inc., a famous gaming and restaurant operator. The company understands that upgrades need to be done in order to bring customers back.
"It (Trump Marina) will be totally updated," said Landry's Chairman Tilman Fertitta. "You won't recognize the property from the second you walk in. Fertitta made Landry's plans known during an interview with The Press of Atlantic City.
AC casinos can use any positive publicity they can get these days. The gaming industry has been ravaged by the economy in recent years, and is now facing the prospects for the first time ever of being the second biggest gaming industry in the Northeast. Pennsylvania has made their intentions known to become the top gaming destination on the East Coast.
Landry's hopes they can tilt the balance of power back in favor of New Jersey. The company plans to re-brand the Trump Marina as the Golden Nugget. Landry's is the owner of the Golden Nugget casinos in Laughlin and Las Vegas, Nevada. Landry's bought the Las Vegas Golden Nugget back in 2005.
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