COACHELLA, Calif., Dec. 31 (UPI) -- A California Indian tribe offered an early buyout of the management contract it has with Trump's bankrupt hotel and casino company to run the Trump 29 Casino.
The Twenty-Nine Palms Band of Mission Indians is offering a $6 million buy-out, but a bankruptcy judge must first approve the deal, the Palm Springs, Calif., Desert Sun, reported.
A lawyer for the tribe said he believes the judge will approve the deal, as it is not viewed as an "extraordinary transaction in the grand scheme of things."
If that happens during a scheduled Jan. 21 hearing, the properties would get new signage the next day, with the Trump logos completely gone by the end of the first quarter of 2005.
Trump 29 Services holds a five-year contract with the tribe that expires April 2007, but contains an early buy-out option beginning in April 2005. Under the contract, Trump's group would be paid an annual fee based on a percentage of net revenues for each year of the term.
