Trump’s Resorts International bid was approved.
A Florida probate judge approved developer Donald Trump’s $79-million purchase of controlling interest in Resorts International Inc., rejecting an unsolicited $210-per-share bid by New Jersey Five Trust. Trump owns two of Atlantic City’s 12 casinos, while Resorts owns one and is building another. Resorts also owns a casino in the Bahamas, holds 12% of Pan American World Airways stock and owns Miami-based Chalk’s International Airlines, which flies to the Bahamas. New Jersey law forbids anyone from operating more than three casinos, but Trump’s attorney said the developer would solve that problem.