Trump unit weighs strategic alternatives
NEW YORK (Reuters) — Donald Trump’s casino company said yesterday it hired Merrill Lynchto help it weigh strategic options for financing, capital structure and other alternatives.The company, Trump Entertainment Resorts Inc., said there could be no assurances about the results. Its shares fell one percent.
The Star-Ledger newspaper reported on Friday that Trump Entertainment was considering refinancing or selling some or all of its Atlantic City, New Jersey, casinos.
The company, with a market value of about $560 million, owns three casino-hotels in Atlantic City: the Trump Taj Mahal, the Trump Plaza and the Trump Marina. It sold its Trump Indiana unit — which owned a riverboat casino and hotel in Gary, Indiana — in 2005.
Donald Trump, the real estate mogul and television personality, is the company’s chairman and largest shareholder.
Trump Entertainment shares fell 19 cents to $18 in morning trade on Nasdaq.
