Carl Icahn stops Atlantic City Trump Plaza Hotel sale

Apr 29, 2013 6:34 PM

The man responsible for stopping the sale of the Trump Plaza Hotel and Casino in Atlantic City to a California group is billionaire investor Carl Icahn.

It is Icahn who is the senior lender to the property and as such has to agree to the sale price. The $20 million offered by the Meruelo Group is too low, he said.

Just what would be a fair price? Icahn hasn’t said.

He holds the mortgage for both Trump Plaza and Trump Taj Mahal Casino Resort, both in Atlantic City. The mortgage was said to total $289 million.

Ray Poirier is the longtime executive editor at GamingToday.

Contact Ray at [email protected].

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