History Golden Nugget Atlantic City

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1 history

1.1 trump s castle (1985–1997)
1.2 trump marina (1997–2011)
1.3 golden nugget (2011–present)





history
trump s castle (1985–1997)

the casino built hilton hotels, when building complete, company denied gambling license state of new jersey due alleged ties organized crime , sold complex donald trump. opened in 1985 trump s castle. in 1988, casino became 1 of settings game show version of yahtzee, , in 1990 setting game show trump card.


revenues @ trump castle took sharp decline in 1990 due competition newly opened sister property, trump taj mahal, broader economic factors such gulf war , 1990s recession. payment bondholders made in december 1990 of $3.5 million purchase of casino chips trump s father, fred trump, later determined illegal loan, casino paid fine of $30,000. unable make next payment on $338 million in bonds, castle began debt restructuring negotiations in may 1991. hilton offered repurchase property $165 million, trump rejected. deal reached give bondholders 50 percent ownership of castle, in exchange reduced interest rates , forgiveness of $25 million of debt. plan filed prepackaged bankruptcy in march 1992.


trump reacquired full ownership of castle in refinancing deal in december 1993. sold property in september 1996 new publicly traded casino company, trump hotels & casino resorts, $130 million in stock plus $355 million in assumed debt.


trump began negotiations sell 50 percent stake in property rank organization $325 million , convert hard rock hotel , casino. discussions fizzled in december 1996, , trump said new theme, saying never liked castle theme. trump next announced agreement sell 51 percent stake in castle colony capital $125 million, used construct new hotel tower , re-theme property trump marina. sale , expansion canceled, however, in march 1997.


trump marina (1997–2011)

the castle renamed trump marina in june 1997. trump entertainment resorts agreed in may 2008 sell trump marina $316 million new york-based coastal development, planned rebrand property margaritaville casino in partnership singer jimmy buffett. despite later price reduction $270 million, coastal unable find financing, , agreement terminated in june 2009. negotiations continued while atlantic city casino values plunged, coastal offering $75 million property in february 2010, no deal reached. bondholders had taken on trump entertainment resorts after 2009 bankruptcy remained eager sell trump marina , focus on company s 2 other casinos.


golden nugget (2011–present)

golden nugget hotel lobby, 2016.


landry s purchased property $38 million, taking control on may 23, 2011, , renamed golden nugget atlantic city. landry s spent $150 million on renovations completed in spring 2012, opening new restaurants , clubs , new outdoor pool , modernizing resort; marina renovated.


on december 16, 2013, golden nugget launched real-money online casino site, goldennuggetcasino.com. despite late entrance market relative competitors, 2017 online site had grown substantially, becoming first new jersey online casino offer 400 games , earning more revenues other new jersey online casino each month since december 2016.








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