Trump Entertainment Trying to Revitalize Atlantic City

Donald Trump made some comments the past couple days that are bringing Atlantic City to the attention of the media, again.

Trump is feuling a battle that is reminiscent of a battle that Penthouse magazine publisher Bob Guccione had with Vera Coking over a three-story home that the widow Coking owns.

Actually, its the same battle. Guccione wanted the house in order to build his casino, that eventually never got built, however he and Coking could never agree on a price. So Guccione built around the housing blocking Coking's views.

Then, in 1993 Trump took over control of Guccione's failed casino and knocked down the construction in order to appease Coking. Now, he plans to rebuild the Trump casino in Atlantic City and wants Mrs. Coking's land.

"If necessary," Trump said, "we can build around her just as Mr. Guccione was going to do many years ago before he fled Atlantic City. We could build around her if necessary, and possibly that will happen," Trump said.

To bring even more attention to his businesses Trump also commented on a possible deal with casino mogul Steve Wynn to buy off the Trump casino. He said he would have to get around a tax issue if he did, but he said he felt it may be worth it.

"A transaction, if made, could be very positive," Trump told gaming analysts during a conference call on Teusday. "There are tax consequences, but a transaction could be very positive for the company."

Trump was on the conference call to announce huge third quarter increases over the previous year. He explained that Trump Entertainment third-quarter profits rose 81 percent to $5.8 million, compared to net income of $3.2 million in the same period last year.

November 2, 2006
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!