M&A

25 November, 2009

Beal Bank makes play for Trump casinos - WSJ

NEW YORK, Nov 25 (Reuters) - Beal Bank made a bid for Trump Entertainment Resorts (TRMPQ.PK) Atlantic City casinos about a week after Donald Trump abandoned his campaign to get back the properties bearing his name, the Wall Street Journal reported on Wednesday.

Dallas-based Beal said during a conference call Wednesday with a New Jersey bankruptcy judge and Trump Entertainment officials that it will convert a $486 million loan made to the three casinos into equity in the company, the WSJ quoted a Trump Entertainment spokesman saying.

Trump Entertainment was not immediately available for comment; Beal could not immediately be reached for comment. ((megan.davies@thomsonreuters.com ; +1 646 223 6112; Reuters Messaging: megan.davies.thomsonreuters.com@reuters.net))

Source: http://www.reuters.com