Trump reaches deal over casinos

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.