Trump Plaza in Atlantic City, New Jersey, sold Thursday to a California company for $20 million in the cheapest of a series of bargain deals for struggling casinos at the New Jersey seaside. The Meruelo Group plans to close the deal by May 31, making the Trump Plaza sale the lowest price ever paid for a casino in Atlantic City.
Trump Plaza cost $210 million to build and opened in 1984 right next to Boardwalk Hall on the famous Atlantic City Boardwalk. Trump Marina Hotel Casino sold for $38 million in May 2011 and the new owners renamed it the Golden Nugget. Donald Trump has limited himself to a 10 percent stake in Trump Entertainment Resorts, which now has just one casino left, the Trump Taj Mahal Casino Resort.