Trump looks to sell stake in its resorts - 2004-02-13
Trump Hotels & Casino Resorts said yesterday it was in negotiations to sell a $400 million majority stake to a subsidiary of Credit Suisse First Boston.
Donald Trump said the deal would lead to a lot of new investment in his three Atlantic City casinos - Trump Plaza, Trump Marina and Trump Taj Mahal. However, some analysts questioned whether the company's debt-holders would sign off on such a deal.
"Longer term, this would allow the company to invest more in its properties," Marc Falcone, an analyst at Deutsche Bank Securities, said of the plan. "It may not be a very good announcement for current bond holders."
Read the full story at Newark Star Ledger