And the new ownership plans to refurbish and rebrand theproperty as the Margaritaville Marina Resort & Casino. Besidesthe room count, the 14-acre, 27-story property includes 79,000 sfof gaming space, 58,000 sf of ballroom and meeting space, a540-seat theater, a rooftop helipad and a nine-story parking garagewith a capacity of 3,000 cars. Also part of the package is thelease for the adjacent Sen. Frank S Farley State Marina.

"Together with Jimmy Buffett's team at Margaritaville, our plansare to create an exciting new property that we believe will tap itsfull potential and make it one of the most successful destinationgaming resorts in Atlantic City," says Coastal Marina chairmanRichard Fields, in a statement. "In the weeks and months ahead,there will be additional announcements and more details about thetransition of ownership and our new resort concept."

Donald Trump says in a prepared statement that "they are buyinga wonderful building in a great location. It has been an importantpart of our company with a loyal customer base and a dedicatedteam."