The casino operator "has recently received preliminary and conditional indications of interest from parties proposing to acquire the company," according to company officials in a release issued today. "There can be no assurance that any of these indications of interest will result in a sale of the company or any other transactions." Trump brought Merrill Lynch on board in March to assess the company's options.
The firm of Kirkland & Ellis is now retained as legal advisors, which has practice areas in both restructurings as well as corporate transactions such as mergers and acquisitions.
Trump Entertainment Resorts, which is separate from other Trump divisions, owns and operates the three Trump-branded casinos in Atlantic City. In February, a possible joint venture between Trump Entertainment and Diamondhead Casino Corp. for the construction of a casino on New Orleans' outskirts was nixed. Trump Entertainment also lost out on a chance to develop a casino in Philadelphia last year.
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