by Lisa Grimaldi | December 02, 2009

Now that Donald and Ivanka Trump have withdrawn their offer to buy back the three bankrupt Atlantic City casino resorts that Donald Trump used to own, the bank that partnered with them has made a bid for the properties. Last week, Beal Bank offered to convert its $486 million loan to the casinos into equity in Trump Entertainment Resorts, which includes the Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino, and Trump Marina Hotel Casino. The Trumps, who resigned from the board of the company two days before it filed for Chapter 11 protection in February, tried to buy the company themselves, along with Beal Bank, and take it private. Two weeks ago, they withdrew their offer and instead backed a bid by bondholders to buy the company; if that plan is accepted, Donald Trump would get 10 percent of the company.