Donald Trump holds on to three ailing casinos in US
Victory: Trump hailed success for Atlantic City and New Jersey
11 April 2012
US tycoon Donald Trump has won control of three troubled Atlantic City casinos that bear his name following a court battle with billionaire financier Carl Icahn.
Trump Entertainment Resorts, which owns the three casinos, filed for bankruptcy protection last year after struggling with heavy debts and a slide in gaming revenues.
Judge Judith Wizmur ruled that Trump should maintain control of the three casinos after Icahn launched a late bid to take over the company.
"We were hoping for this," said Trump. "It's a great victory for Atlantic City, for New Jersey, and all of the people of the state. And it's a great loss for Carl Icahn."
