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Trump Marina Hotel and Casino To Become Margaritaville
Looks like the folks headed to Atlantic City will soon be getting Jimmy Buffett rather than Donald Trump.
The Donald Trump Entertainment Resorts company announced that it had sold Trump Marina Hotel & Casino to a New York gambling company for $316 million. Coastal Marina will then rebrand the hotel "Margaritaville" with Parrotheads in mind.
Cash from the sale will allow Trump to upgrade its two remaining casinos, pay down about $1.5 billion in debt, or invest in new properties, said Trump Chief Executive Mark Juliano. He added the company would decide how to use the proceeds during the six to nine months it will take for the deal to close and the new owners to be approved by New Jersey casino authorities.
So that means no Margaritaville for at least another year. This will be the first hotel for the Margaritaville brand which has four cafes in the US and a handful in the Caribbean and Mexico.
Now we have to ask: Does this remind anyone of Hooters Hotel in Las Vegas?