Thursday, May 29, 2008

Donald Trump Serves Up a Margaritaville

Donald Trump is the greatest real estate developer and casino operator in the entire world. Hell, he is the greatest person ever. Fact. So what happens when the Trumpster built his fabulous Trump Marina Hotel Casino in fabulous Atlantic City. Well, not so much. Apparently, King Donald has sold the property to Coastal Marina LLC, an affiliate of Coastal Development LLC, for the bargain basement price of $316 million. But here is the kicker - they are turning it into a Margaritaville! As in Jimmy Buffet's Margaritaville, the biggest kick in the groin a resort town trying to re brand itself could ask for. And as our Little Birdy points out, "they're trying to market that chelsea hotel there as the AC hipster property, right? but any hipster worth his salt (heh!) would choose to go to margaritaville for purposes of irony." 100% correct. Stay classy Atlantic City.

· Trump Marina sells for $316M, turns into Margaritaville [Crains]