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Trump's casino company supports buyout

ATLANTIC CITY, New Jersey -- Trump Entertainment Resorts is supporting a buyout plan backed by Donald Trump and bondholders, according to the Press of Atlantic City.

Bondholders will now compete with billionaire Andy Beal for control of Trump's three Atlantic City casinos: Trump Taj Mahal, Trump Plaza and Trumpa Marina.

Trump and Beal had originally teamed up to make a play for the company, the Press of Atlantic City reports. But Trump switched sides last month and joined the bondholders in return for a 10 percent stake once Trump Entertainment Resorts emerges from Chapter 11.

copyrighted material written for and appeared exclusively in The Press of Atlantic City

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