Thursday, February 17, 2011

Atlantic City Trump Marina to become Golden Nugget

The Trump Marina in Atlantic City has been sold for the bargain price of $38 million. The buyer, Landry's Inc. owns the Golden Nugget in Las Vegas and Laughlin and is planning on transforming Trump Marina into a Golden Nugget location. The company plans on sinking $150 into the property to make it one of the nicest hotels in Atlantic City.

The Golden Nugget brand has been in Atlantic City before. The current Atlantic City Hilton (which is also currently for sale) was called Golden Nugget from when it opened in 1980 to 1987. Back then it was owned by Steve Wynn. I wonder what ever happened to that guy?

The Trump Marina is the one hotel in AC that I've never set foot in, the reason being that it has a terrible reputation of being a dump. The location is also isolated, so you can't just happen upon it like you could with a boardwalk casino.

If things go well with the renovations it looks like the Golden Nugget will become a destination casino similar to the other Marina area hotels. You can argue that the two nicest hotels in Atlantic City are Borgata (clearly #1) and Harrah's (up for debate), so when the Nugget is complete the Marina area will have three of the best hotels in Atlantic City.

Source: Press of Atlantic City.