Financing found for Trump Marina transformation

2008-09-23 12:11:08

The developers behind proposals to create a Margaritaville resort from the Trump Marina Casino Hotel in Atlantic City have reached a deal with an unknown backer to provide financing, it has been reported.

Coastal Development chairman Richard T Fields announced that a verbal agreement had been made last week, but he did not reveal any details, according to the Press of Atlantic City.

Trump Marina was sold to Coastal by Trump Entertainment Resorts in May.

The entire venue is set to be overhauled in a major renovation of the 14.6-acre site.

Commenting on the plans, Mr Fields remarked: "We want to keep as many of the hotel staff working as well because when Atlantic City succeeds and New Jersey succeeds - I believe we all succeed."

In other US casino news, mayor Sam Fenton of Bristol Township, Pennsylvania has announced that he would like to entice developers to set up a Foxwoods Casino in his area, PhillyBurbs.com reports.