Trump Rejects Casino Fortune Bid
By philip
Donald Trump’s troubled Trump Hotels & Casino Resorts Inc is unimpressed by Casino Fortune’s $400 million offer for a stake in the company; even going so far as to suggest it was little more than a publicity stunt. Trump Hotels, operator of the Trump Taj Mahal, Trump Plaza and Trump Marina casinos in Atlantic City, is $1.8 billion in debt and desperate for investment partners to keep it solvent.

Trump Hotels recently failed to secure a $400 million bailout from investment banking giant Credit Suisse First Boston's private equity fund, DLJ Merchant Banking Partners III.

A $400 million investment would have given the Trinidad based online casino a 31 percent stake in the company. Dennis rose the senior vice president and general manager of Casino Fortune told the press At the time of the offer: “Right now we are just declaring our interest. This is a preliminary contact we are making, and I hope we will be able to put some meat on the bones of a deal.”

However, it is still not known whether Casino Fortune’s offer was serious or the product of a lively sense of humour.

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