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At this point we’re all aware of Donald Trump. You all know who Donald Trump is right? He’s not only the guy behind the successful Miss Universe pageants that have hot beauties trumping all over the stage (Venezuela won the 2008 Miss Universe in case you didn’t know), but he also had hand in choosing his apprentice that would eventually succeed him – in one of the most gripping and highly anticipated reality shows nowadays, “The Apprentice.” In short, he is arguably the most famous billionaire in the United States. Still adding to his infamous status of “The Donald” is the fact that he is boiled with controversies here and there – such as his never-ending feud with “The View” former co-host, Rosie O’Donnell – and his comments about her being a fat and ugly pig.

The Latest in the Donald Trump Casino World

So what is the real issue with Donald Trump now? What’s going on that is now keeping him in the headlines and that’s making his followers quite a bit shocked and surprised?

Well, for one thing, Trump is now selling. Yes, that’s right. He’s now selling his Trump Marina Hotel and Casino, according to Donald Trump Entertainment Resorts, to a New York gambling-based company – the Costal Marina, LLC - for a whopping $316 million. The name of the company will now be changed – from Trump Marina to “Margaritaville.” – the same title as the hit song and franchise by Jimmy Buffett.

This has been an issue for some time as Trump has fought off some tough competition recently from competing companies – the Borgata and Harrah’s – as they all tried to fight for a prime spot in the Coastal Marina’s bid. Trump has decided to still hold on to his prized remaining casino despite this sale – the Taj Mahal Trump Plaza Hotel and Casinos. He’s not just going to sit tight with the Taj Casino - there will be renovations going on with the hotel as Trump announced that a $255 million expansion will now take place.

What this Casino Deal Means to Trump and the Future of Margaritaville

According to sources, the money that is being generated from this sale will allow Donald Trump to be able to do many things and pursue different ventures – such as using these new funds to renovate his casinos that are remaining and will allow him to be able to pay his debt of $1.5 million. The rest of the money remaining will be set aside to invest in some properties – casino real estate. This is according to Trump Chief Executive Mark Juliano, who also added that there is no definite decision made yet as to exactly where this money is going and where the rest of the proceeds will go to. Keep in mind that the new owners of this casino will have to wait for another year to begin operations since the sale still needs to be approved by the New Jersey authorities.

All of this legal haggling means that the Margaritaville Casino in the Atlantic City Marina will not be in existence for another year – so no “Margaritaville” for the time being. When it opens, it will actually be the first “Margaritaville” casino in the Atlantic City area, since the Margaritaville Casino & Resort in Biloxi, Mississippi will open in 2010.

Come Christmas time of ‘08 it’s expected that this deal will finally close and the title of the property will now be transferred to the Margaritaville guys.

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