And so the sun sets on another Atlantic City dream that was not meant to be: the transformation of the always-sorta-fun but gettin-kinda-old Trump Marina into a technicolor Jimmy Buffetized Margaritaville Casino. The bankrupt Trump Entertainment pulled out of negotiations with Coastal Marina LLC just short of a deal that apparently, most people on Wall Street thought would never happen, what with the economy. It can't be considered a shock these days, with most Atlantic City projects dreamed up in headier days now skidded to a stop. Casinos have managed to pull together a decent enough summer of entertainment, after a very slow booking start that was, and still is, way off last year's rate, but overall, the town's fortunes feel like they are being supported by, well, shifting sands. I guess we'll just have to keep nibblin on sponge cake, watchin the sun bake, all of those tourists covered with oil, and hope things pick up around here.
Trump Entertainment and its previous companies (from various bankruptcies) have destroyed Trump Marina which used to be one of the most beautiful properties in AC. They accomplished this by ignoring maintenance and improvements over many years. This is the "MO" of the Trump organization. They sucked the place dry and sent profits over to fund the Taj, another typical Trump dump. Even the Taj is looking bad. Paint is peeling outside on the boardwalk side and generally it suffers from the same neglect seen at the Marina over the years. The workers at Trump Marina were so hopeful that Trump would go and a new owner would realize that Trump Marina (the site) is probably the best one in AC. Now those hopes are dashed and no surprise to anyone! How Coastal could have even thought about paying $316 million (initially) is a puzzle. Even the $270 million from the last price adjustment was a joke. After Coastal finally fully assessed the place they saw how bad shape the place was and is. The Trump organization even destroyed one of the most beautiful marinas on the east coast (Farley State Marina adjacent to Trump Marina) by allowing the place to deteriorate and fall into major disrepair. Trump leases the Farley Marina from the State of NJ and is, by lease terms, responsible to maintain the marina...but, in typical Trump fashion, they destroyed it as well. All so typical of the way Trump has blown so many opportunities through their incompetence and arrogance. Working at Trump Marina is no fun anymore.— localreader
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