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Atlantic City Casino Trump Marina Becoming Golden Nugget AC

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Donald Trump (credit: Gary Coronado/Palm Beach Post/AP)

Donald Trump (credit: Gary Coronado/Palm Beach Post/AP)

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ATLANTIC CITY, N.J. (CBSNewYork/AP) — Trump Marina, you’re fired.

The Atlantic City casino that once bore Donald Trump’s name was changing hands Monday.

The casino was being bought by Texas-based Landry’s Restaurants, which is renaming it the Golden Nugget Atlantic City. The sale was expected to be approved by the New Jersey Casino Control Commission.

Trump Entertainment Resorts was selling the casino, one of three it owns, for $38 million in order to help pay down its debt. Just three years ago, it was to be sold for $316 million in a deal that fell through when the economy tanked.

The new owners plan to pump about $150 million into the casino, which has been one of Atlantic City’s worst-performing in recent years.

Landry’s owns the Golden Nugget in Las Vegas.

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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