Landry’s Inc., an international restaurant and gaming operator, is buying Trump Marina Hotel Casino for $38 million and will rebrand it with the iconic Golden Nugget name.
Tilman J. Fertitta, Landry’s chairman, president and chief executive officer, said the Houston-based company will spend $150 million to transform the 1980s-era casino into a luxury resort. Landry’s also is making long-range plans to build a new hotel tower. Even the aesthetically challenged exterior of the casino – long ridiculed as looking like a hospital – will be given a facelift.
“It will be totally updated. You won’t recognize the property from the second you walk in,” Fertitta said in an interview with The Press of Atlantic City after the deal was announced Monday by Landry’s and Trump Entertainment Resorts Inc.
The sale, expected to be completed by the second quarter of this year, will bring back the Golden Nugget brand to Atlantic City, although at a different casino. Landry’s owns the Golden Nugget casino hotels in Las Vegas and Laughlin, Nev.
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