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Donald Trump

Decides to sell Trump Plaza casino

12 Jul, 1997

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.