Casino News

Trump reveals lead bidder for casino company

2007-06-13 16:24:28

Donald J Trump has revealed information about the leading bid for Trump Entertainment Resorts, in which the casino mogul owns a 31 per cent stake.

A partnership between Dennis Gomes, former head of Atlantic City's Trump Taj Mahal Casino Resort and Morris Bailey, head of private real estate firm JEMB Realty, is said to the lead bidder for Mr Trump's casino company.

Although there was talk last week that that the two businessmen were planning to make an offer, it was only confirmed yesterday by Mr Trump.

Mr Gomes told the Philadelphia Inquirer: "I believe Atlantic City is a phenomenal market and there is tremendous potential there. No one can ever duplicate the critical mass of gaming and entertainment that's there."

Also in the running is private equity firm, Dune Capital Management, the management of which consists of former Goldman Sachs executives.

Trump Entertainment Resorts recently published its first-quarter results, which revealed that the company made a net loss of $8.1 million, down from $9.7 million in the first three months of 2006.



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