Trump Entertainment Resort Inc., whose chairman is Donald Trump, announced this week that it has hired Merrill Lynch, an investment firm, in order to start exploring its strategic alternatives. Such alternatives, they said, might include a potential sale.
The company owns the Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, located on the Boardwalk in Atlantic City, N.J., and Trump Marina Hotel Casino located in Atlantic City’s Marina District. Rumors about the sale of the casinos caused Trump shares to rise nearly 8 percent.
According to Joel Simkins, Prudential Equity Group analyst, Trump Entertainment could make a good fit for Ameristar Casinos Inc., Pinnacle Entertainment Inc., Penn National Gaming Inc. or a private buyer.