Trump reaches deal over casinos
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Bondholders battling Donald Trump for control of Trump Entertainment Resorts’ three Atlantic City casinos have reached a deal allowing the casinos to retain Trump’s trademark name.
Under the deal to buy the company out of bankruptcy, the real estate mogul and reality TV star gets to keep a 10% stake while the company retains the right to use his name.
Trump and his daughter, Ivanka, had offered nearly $114 million in cash to bondholders, and bondholders were offering $225 million to buy the company out of bankruptcy.
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