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Trump Marina to Stay Open During Renovation to Margaritaville

September 20th, 2008


Atlantic City’s Trump Marina Hotel Casino will stay open during its renovation and redesign to “Margaritaville”:

The developer who’s buying the Trump Marina Hotel Casino says it will remain open while it’s renovated into “Margaritaville.”

Richard Fields, chairman of Coastal Development LLC, signed a deal earlier this year to buy the casino from Trump Entertainment Resorts.

He told a gathering of business and labor leaders on Friday morning that he intends to keep the property open to keep casino and hotel workers on the job during the transition.

“I wanted to come here, in person, and tell you we intend to keep the marina, hotel and casino open during the entire rebranding and refurbishment process,” Fields said at a meeting of the Alliance For Action in Trenton. “In addition to creating hundreds of new construction jobs, we want to keep as many of the hotel staff working as well because when Atlantic City succeeds and New Jersey succeeds, I believe we all succeed.”

Coastal Marina will own all of the Atlantic City project, but will engage in a business venture there with Margaritaville Holdings LLC, owned by singer Jimmy Buffett, which includes a string of restaurants and retail shops.

Read the entire article here.


Tagged in Business Empire, Casinos

Trump Casino in Atlantic City to become Margaritaville Casino

May 29th, 2008


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.


Tagged in Business Empire, In The News