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Trump keeps control of Trump Resorts

April 13, 2010 at 5:15 PM   |   Comments

ATLANTIC CITY, N.J., April 13 (UPI) -- A U.S. bankruptcy judge has chosen Donald Trump and daughter over Carl Icahn and son in a big-name battle for control of three Atlantic City casinos.

After 14 months in bankruptcy, Judge Judith Wizmur awarded control of Trump Entertainment Resorts to Trump, whose daughter Ivanka Trump, is an executive with Trump's company.

The Trumps plan to bring in new investors to rejuvenate the resorts. Avenue Capital Group is expected to invest $225 million in the operation, The New York Post reported Tuesday.

Wizmur could have chosen a bid for the company proposed by activist investor Carl Icahn, whose son Brett works for his investment firm.

Ivanka Trump said, "The employees are also very pleased that we have a great future again. They didn't like the prospects of having Carl Icahn as their boss."

© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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