Trump casino sale looks like sure thing to gaming analysts
One estimates casino company is worth $2.5 billion
By DONALD WITTKOWSKI Staff Writer
Published: Monday, March 26, 2007
ATLANTIC CITY — Scour your bank accounts. Dig deep under the sofa cushions for some loose change. You could become a casino mogul if you scrape together enough dough to buy out Donald Trump.
Yes, the celebrity CEO has let everyone know that he is willing to discuss a deal for his casino empire. Trump Entertainment Resorts Inc. hired Wall Street financial giant Merrill Lynch this month to help it explore “strategic corporate options,” including a possible sale. Provided the price is right, of course.
So how much will it take for Trump to part with his precious holdings? Experts are trying to figure out the value of the entire company and each casino because of the different options Trump will consider before deciding whether to pull the trigger.
Dennis M. Farrell Jr., a gaming analyst for Wachovia Capital Markets, thinks Trump will probably sell the whole company instead of breaking it into pieces. He puts the value at about $2.5 billion.
“I think that they want out,” Farrell speculated of Trump Entertainment's desire to exit the casino business. “Personally, I think it's going to be a sale.” |
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