Atlantic City's Trump Taj Mahal to Keep Trump Name
Billionaire Carl Icahn has reached an agreement with Donald Trump to allow the Trump name to remain on the 2,010-room Trump Taj Mahal Casino, according to press reports. The casino is being acquired by Icahn, who is financing the property to keep it going through bankruptcy proceedings, which were filed last fall. In September, Trump and his daughter Ivanka filed a lawsuit to remove their name from the property and the now-shuttered Trump Plaza. "I am happy to have reached a deal with Carl, someone whom I have great respect for both personally and professionally," Donald Trump said in a statement. "The Trump Taj Mahal, under the right leadership and with the proposed significant reinvestment in the property, can be, once again, a wonderful place for travel and entertainment." Icahn is acquiring Trump Entertainment Resorts by swapping its debt, which he owns, in return for ownership of the company; the agreement has to be approved by a federal bankruptcy court judge. Trump Entertainment Resorts is a separate company from the Trump Organization; Donald Trump gave up chairmanship of the Entertainment Resorts group in 2009.