
ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "Another Wall Street gaming analyst is pessimistic that Donald Trump's financially ailing casino company will be able to
find a buyer.
"Carlo Santarelli, of Bear, Stearns & Co. Inc., predicted Thursday that Trump Entertainment Resorts Inc. will have a hard time selling itself, although its falling stock price in recent weeks could make it more attractive to suitors.
"...Earlier this month, analyst Dennis I. Forst, of KeyBanc Capital Markets Inc., said a sale of the entire company would be complicated by the enormous amount of money a buyer would have to spend to upgrade Trump's three aging casinos.
"...Trump Entertainment is in negotiations with a private investment group headed by former Atlantic City gaming executive Dennis Gomes and New York real estate developer Morris Bailey.
"...If there is no sale, Santarelli expects the stock price to dip to about $11 a share, far below its 52-week high of $23.80 in November..."
copyrighted material written for and appeared exclusively in The Press of Atlantic City
| Trump Entertainment Resorts, Inc. operates three properties including Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, located on the Boardwalk in Atlantic City, New Jersey, and Trump Marina Hotel Casino, located in Atlantic City's Marina District. Together, the properties comprise approximately 371,300 square feet of gaming space and 3,180 hotel rooms and suites. |
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