deal

The new sale price is $270 million and is fixed, with noperformance stipulations. The revised deal also permits Trump toterminate the agreement if the sale doesn't close before May 29,2009. It stipulates a 60-day extension beyond that date, ifrequired, to get any necessary regulatory approvals. The revisedagreement also waives this week's deadline for financingcommitments by Coastal Marina to complete the sale.

Coastal Marina, an affiliate of New York City-based CoastalDevelopment headed by Richard Fields, a one-time protégé of DonaldTrump, has also upped its cash exposure a bit for the deal. "Thepurchase deposit paid to Trump Entertainment Resorts has beenincreased…from $15 million to $17 million, and the original $15million held in escrow will be released immediately to TrumpEntertainment Resorts," reads a joint statement issued by the twocompanies. "The parties are currently pursuing discussions to allowCoastal Marina to begin construction, prior to the closing of thetransaction, on certain key components of the…retheming project,provided [that] adequate measures are implemented to ensure thecompletion of such construction."