Print
E-mail
Share
digg
Newsvine
Facebook
Stumble
Technorati
reddit
Fark
twitterCSFB in takeover deal for casino operator
Thursday, Feb. 12, 2004 | 9:21 a.m.
ATLANTIC CITY -- Trump Hotels & Casino Resorts Inc. said today it signed an exclusivity agreement with DLJ Merchant Banking Partners III L.P., an affiliate of Credit Suisse First Boston Corp., tied to DLJMB's proposed $400 million investment to recapitalize the casino operator. Trump Hotels also reported a wider fourth-quarter loss on lower revenue.
Trump said DLJMB's proposed investment is in the form of common equity and will, if completed, result in a substantial deleveraging of the company's balance sheet. DLJMB would also become the majority shareholder of Trump Hotel, with Donald J. Trump continuing as chairman and a significant shareholder.
The proposed recapitalization is expected to help the company expand its current properties and provide for additional development. In connection with the proposed recapitalization, Trump Hotels plans to change its name to Trump International Corp.
archive
- Most Read
- Discussed
- Most E-mailed
- Binion’s to close all 365 rooms, lay off 100 workers
- Ex-NBA star to pay $12,835 monthly in gambling debt case
- “Last Call!”: Two words you wouldn’t expect to hear on The Strip
- Slot makers team up at behest of CityCenter
- Report: 70 percent of homeowners underwater
- Scuffle in pub parking lot leads to attorney’s arrest
- Now, Rebels must build on big Louisville win
- What reactions to Palin, Stewart say about society
- Nevada leads nation in rate of bankruptcy filings
- LV budget numbers foretell many layoffs
Blogs
The Kats Report
Planet Hollywood's Thomas McCartney headed for Tropicana (11 Comments)
Elsewhere
LV woman robs Kentucky strip club, police say (4 Comments)
Las Vegas Sands' Hong Kong IPO flops (2 Comments)
The Kats Report
Monday List: Top 13 Moments and Observations From Thanksgiving Weekend (4 Comments)
Politics: Ralston's Flash
Tarkanian: Reid is liberal, out of touch, rude, poisonously partisan and a know-it-all (17 Comments)
The Kats Report
Barry Manilow off to Paris: Two-year deal starts March 5 at Le Theatre des Arts (12 Comments)
Politics: Ralston's Flash
Ensign survives radio interview with no follow-ups; partial transcript below (9 Comments)
Calendar »
- 1 Tue
- 2 Wed
- 3 Thu
- 4 Fri
- 5 Sat
-
Grand opening of Vdara
Vdara | 10 a.m. to 11:59 p.m.
-
Dik Richie at Moon
Moon Nightclub | 10:30 p.m. to 11:59 p.m.
-
A Night to Honor Israel at the Cashman Theatre
Cashman Convention Center | 7 p.m. to 10 p.m.
-
Ladies night at Feelgoods
Feelgoods
-
Sin City Sinners at VooDoo Lounge
VooDoo Steak & Lounge
The Sun
Locally owned and independent for more than 50 years.
