Trump Plaza sold for rock-bottom price of $20 million - Atlantic City Entertainment | Atlantic City | AtlanticCityInsiders.com: Atlantic City Events | Atlantic City | AtlanticCityInsiders.com

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Trump Plaza sold for rock-bottom price of $20 million

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Posted: Thursday, February 14, 2013 4:29 pm

Trump Plaza Casino and Resort was sold for $20 million to a California company.

It is the lowest price ever paid for a casino in Atlantic City, according to the Associated Press.

The company behind the purchase, the Meruelo Group, plans to close the deal by May 31. The group also owns the Grand Sierra Resort and casino in Reno, Nev.

With the sale of the Trump Plaza, there stands just one casino under Trump Entertainment, Trump Taj Mahal Casino Resort. Before Trump Plaza, the Trump Marina was the last Trump property to be sold, and it was completely renovated and rebranded as the Golden Nugget Atlantic City in 2011.

No longer backed by real estate mogul Donald Trump, he built the property for $210 million in May 1984.

Trump Plaza is in a central location in Atlantic City, found at the end of the Atlantic City Expressway and next to Boardwalk Hall. At 39 stories overlooking the ocean and Boardwalk, the small casino hotel has 906 rooms.

To say the least, Trump Plaza has been under-performing, making just $4.9 million in January, according to the Associated Press.

 



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