Donald Trump To Sell Riverboat Casino

Trump Entertainment Resorts has decided to sell the Michigan riverboat and hotel to The Majestic Star Casino in a $253m deal.

According to The Associated Press, the CEO said the sale would furnish his company with funds to ease debt and to invest in its key Atlantic City, N.J., resorts. Those include Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino and Trump Marina Hotel Casino.

The sale of the casino comes as Trump Entertainment Resorts works on its reorganization after filing for bankruptcy protection last year. Trump has operated the Gary casino since it opened nine years ago.