Trump Plaza is no longer Trump. It’ll be something else soon, but it will no longer bear the name of “the Donald” according to the Washington Post on Feb. 14. The casino in the center of the Boardwalk was sold for $20 million, a bargain price.
The new owners will be the Meruelo Group of Downey, Calif. The lowest-priced deal ever in Atlantic City is set to close by May 31. The company will choose a new name for the gaming hall, but it won’t use “Trump.”
The Meruelo Group is not exactly new to casino gaming as they own the Grand Sierra Resort and Casino in Reno, Nev. They usually deal in construction, engineering, real estate, food service and private equity.
“Trump Plaza is one of the world’s most recognized gaming resort destinations and is an integral part of the Atlantic City landscape,” said Alex Meruelo, founder and CEO of the Meruelo Group. “Our company is thrilled to have the opportunity to become the new owners of this property, and we are firmly committed toward establishing it as one of the elite destinations in Atlantic City and on the East Coast.”
Robert Griffin, CEO of Trump Entertainment Resorts, said, “This is good news for the city, for the state, and for the Plaza. There is still considerable interest in this market.”
This sale, plus the recent announcement of the Miss America Pageant returning home to Atlantic City, is good news for the resort town. There are casinos in a lot of places now, but Atlantic City still has that long beach and other attractions to go with the gambling, things other gambling resorts can’t claim.