by Lisa Grimaldi | April 14, 2010

A U.S. bankruptcy judge has handed control of Trump Entertainment's three bankrupt Atlantic City casinos to a group of bondholders (led by private-equity firm Avenue Capital) aligned with Donald Trump, according to published reports. Trump and billionaire developer Carl Icahn had been vying for control of the properties; Icahn purchased the entire mortgage on the Trump casinos earlier this month. In March, he received interim approval from the New Jersey Casino Control Commission to buy the Tropicana Casino Resort, also in Atlantic City.