Trump May Sell Castle Casino

Donald Trump may sell his Trump’s Castle Casino Resort to Trump Hotels & Casino Resorts Inc. to boost the company’s presence in Atlantic City, N.J.

The sale depends on Trump Hotels getting permission from bondholders to repurchase $60.9 million of Trump’s Castle’s $308 million in debt. After the purchase, Trump Hotels will acquire the exclusive right for six months to buy Trump’s Castle, the company said Monday.

Trump, who owns about 29 percent of the publicly traded Trump Hotels, received offers of as much as $595 million for the 27-floor hotel and casino from other gaming companies, said a person familiar with the real estate developer’s plans.