Trump Entertainment Resorts to Sell Atlantic City Casino

Trump Entertainment Resorts agreed to sell the Trump Marina Hotel Casino in Atlantic City for $38 million.

The casino will be sold to Landry's Inc., which operates the Golden Nugget casinos in Las Vegas and Laughlin, Nevada, Trump Entertainment Resorts said in a statement.

The transaction is expected to close in the second quarter, provided it receives regulatory approval.

Trump Entertainment Resorts plans to use the proceeds to reduce its long-term debt.