Marina not wasting away

You can probably order a margarita at the Shell, but Trump Marina isn’t turning into Margaritaville anytime soon. From the AC Press:

An agreement to sell the aging Trump Marina Hotel Casino and transform it into a Margaritaville-themed gaming hall was terminated Monday, after the expected buyer failed to close on a deal by last week’s deadline.

Talks had continued over the weekend between Trump Marina’s parent company, Trump Entertainment Resort Inc., and Coastal Marina LLC, with the possibility that the sale deadline would be extended.

But Trump Entertainment CEO Mark Juliano said his company decided instead to end the agreement after receiving a letter Monday from Coastal’s lawyer claiming Trump Entertainment had breached its contract agreement by engaging in “fraudulent activity.”


Juliano said his company was being accused of diverting customers and business from Trump Marina to the other two Trump-owned properties in Atlantic City, Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino. He said Coastal also claimed that Trump Entertainment “knowingly did not perform in good faith.”

Juliano denied those charges.

Deal to buy Trump Marina casino is off.

It’s going to be difficult to get anything at all for the Marina. It’s got a great location, but is one of the worst-performing casinos in the city. This April, it made about $13.6 million, less than Resorts, the Hilton, or Trump Plaza, and about 1/3 of what the Borgata pulled in.

That being said, the property has great potential,with the Farley marina directly adjacent. If someone bought both it and the bayside MGM land (not the Borgata-adjacent MGM Grand AC tract), they could build something phenomenal. But anyone who’s looking to build in Atlantic City right now either isn’t thinking right or sees something that no one, including those who’ve got billions invested in the market, can see.

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