Trump Casino Sold at a Big Bargain

ATLANTIC CITY-Once the gem of the Trump empire in this gaming center beside the sea, the Trump Plaza casino fetched a basement-level price of $20 million

By Antoinette Martin | February 15, 2013 at 10:53 AM

http://online.wsj.com/article/AP57379232282e41a397261ddddbe70f43.html?KEYWORDS=nj

ATLANTIC CITY, N.J. — Donald Trump's Boardwalk casino, Trump Plaza, was bought for a low-low-low price of $20 million Thursday by a California company that also owns a casino in Reno, NV, according to the Associated Press.

The Meruelo Group of Downey, CA, paid the least of any company recently purchasing one of the faded gaming halls in distressed Atlantic City. In fact, the $20 million is the lowest price ever paid for a casino in the beachfront communty.

The transaction should be complete by May 31. Meruelo executives said the company will make a sizable investment to upgrade the facility, and will be changing the name.

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