Atlantic City’s Trump Marina Hotel Casino in Atlantic City, New Jersey is being sold to a New York company who, along with Jimmy Buffett, will rename the Casino “Margaritaville.”“They are buying a wonderful building in a great location,” Trump said in a statement. “It has been an important part of our company with a loyal customer base and a dedicated team.”
Richard T. Fields, chairman of Coastal Marina, said the casino will take on a new identity once the sale closes. No timetable was given.
“Together with Jimmy Buffett’s team at Margaritaville, our plans are to create an exciting new property that we believe will tap its full potential and make it one of the most successful destination gaming resorts in Atlantic City,” Fields said.
Trump Marina was the lowest performing of Trump’s three Atlantic City properties. Located in the city’s marina district, it was dwarfed by market leaders — and marina neighbors — the Borgata Hotel Casino & Spa, and Harrah’s Atlantic City.
The sale marks the conclusion of an on-again, off-again courtship that Trump Entertainment Resorts has been conducting with potential suitors for the past year. At least two prior deals to sell all or part of the company fell through.
Trump Marina covers 14 acres and includes a 27-story hotel with 728 guest rooms, including 153 suites. It has 79,000 square feet of casino floor space and approximately 58,000 square feet of convention, ballroom and meeting space.
It also has an 11-bay bus terminal and a roof-top helipad, as well as a nine story parking garage capable of accommodating approximately 3,000 cars. The property also includes the lease for the Senator Frank S. Farley State Marina.
Read the entire article here.
This is the second Margaritaville Casino to be announced. The first is under construction in Biloxi, Mississippi.
7 responses so far ↓
1 Margi Bodkin // May 29, 2008 at 2:43 pm
I have a green building product that will have a huge benefit for your organization and the carbon footprint. Even though this project has been started, there are still options for this opportunity. Thank you, Margi Bodkin
2 PirateJohn // May 30, 2008 at 11:18 am
Actually, isn’t this the 3rd casino project? Seems like they announced another project at the Mohegan Sun Casino in Connecticut some time ago.
3 Josh Martin // May 30, 2008 at 11:35 am
Well that’s just a restaurant at Mohegan, not its own casino.
4 PirateJohn // May 30, 2008 at 4:33 pm
Josh, I could be wrong (like that would be a first time!) but I think it’s the same deal everywhere. Margaritaville, Inc. provides the restaurant and the name, and another company provides the casino (read: “gambling”) management.
At the rate Jimmy’s going he’s going to be known for his casino involvement.
5 Josh Martin // May 30, 2008 at 10:48 pm
Nah it’s different because the Margaritaville Cafe is going in at the Mohegan Sun Casino. This casino will be named Margaritaville. I doubt Jimmy will get gambling profits from the Mohegan Sun but he surely will from the Margaritaville Casino.
6 Atlantic City Hotel Guy // Sep 4, 2008 at 10:18 am
We’re really looking forward to new themed casino. Margaritaville Casino Atlantic City can be an escape people are looking for without going to Key West or a Carribean destination. Looking forward to this!
7 LBI fan // Nov 13, 2008 at 12:06 pm
We can’t wait. We like to go by boat and dock at the Marina. Will the charges be the same (First two hours comped; then $25/hr)? When will you be announcing when Jimmy will be there? Will there be concerts? Anything planned for outside? Thanks.
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