Trump decides to sell Trump Plaza, one of his Atlantic City casinos, saying it could sell for as much as $1 billion. He says he will use the money to decrease his company’s $1.7 billion debt. The company’s stock has fallen 59 percent in the last year as casino revenues have remained stagnant. He says the decision is not a sign that he is losing interest in Atlantic City.
There is a thirst to come into Atlantic City, but it’s very hard to get land and it takes a long time to build from the ground up. I just feel, in a nutshell, that Atlantic City is hot, that I have the best properties and this is a good time to sell…We don’t need other markets. A lot of the Las Vegas developers, they now want to come into Atlantic City.