Business Services Industry
Trump Still Has No Buyer for His Atlantic City, N.J., Casino Company.
Knight Ridder/Tribune Business News, August, 1998 by Jenkins, Patrick
Knight Ridder/Tribune Business News
Aug. 5--When it comes to his Atlantic City casinos, real estate mogul and developer Donald J. Trump may be a willing seller.
All he needs is a willing buyer.
That's what he's been looking for since February, when he hired Bear, Stearns and Co. and Donaldson, Lufkin and Jenrette Inc., to explore the sale of his gaming company, Trump Hotels and Casino Resorts Inc.
So far, no buyer has stepped up.
Most investment analysts attribute that to two things: the company's $1.8 billion in debt and the flat results turned in by Atlantic City gaming companies in recent years. The New Jersey gaming market has been hurt by competition from Native American casinos and slot machines in Delaware.
But it may be...
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