A new Trump deal in Atlantic City

From: Business News New Jersey | Date: October 16, 1996| Author: | Copyright information

Real estate mogul Donald Trump breathed a sigh of relief on Sept. 30, when shareholders of Trump Hotels & Casino Resorts approved a $507 million buyout of his privately held Trump Castle Casino Resort in Atlantic City. Trump, who had agreed not to vote his 29% stake in the company, hailed the buyout as a cost-cutting move that will strengthen his publicly held casino/hotel empire. But at least one stock analyst sees the move as a prelude to a possible Trump exit from Atlantic City.

Trump made an appearance at a New York City press conference right after the shareholder vote. Tall and trim ...

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