Report: Billionaire investor Carl Icahn offers $125M more for bankrupt Trump casinos
By APThursday, December 31, 2009
Report: Icahn offers $125M more for Trump casinos
CAMDEN, N.J. — Billionaire investor Carl Icahn plans to pump more money into his bid to buy Donald Trump’s bankrupt casinos.
In court papers filed in U.S. Bankruptcy Court in New Jersey, the billionaire’s investment company says it will commit $125 million more in financing to buy struggling Trump Entertainment Resorts Inc.
The new development was first reported Thursday in The Press of Atlantic City.
Icahn has already agreed to buy a majority of the $486 million bank debt on the three properties: Trump Plaza Hotel and Casino, Trump Taj Mahal Casino Resort and Trump Marina Hotel Casino.
Trump bondholders also want to buy the casinos and have offered $225 million in a deal that would give Donald Trump a 10 percent stake in the reorganized company.
