Trump Hotels, Deutsche Bank agree to $320 million casino refinancing
Article Abstract:
Deutsche Bank AG of Germany has reached an agreement to refinance Donald J. Trump's struggling Trump Hotels & Casino Resorts Inc. with a $320 million refinancing. The refinancing includes a significantly lower interest rate than what the casino is paying now. Mr. Trump is no longer attempting to sell off parts or all of the casino company. He has been trying to sell it since 1997. Mr. Trump is now hoping to refinance the company's remaining debt of $1.3 billion.
Comment:
Deutsche to refinance Donald J. Trump's struggling Trump Hotels & Casino Resorts Inc. with a $320 million refinancing
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Horseshoe Gaming plans acquisition in Midwest market
Article Abstract:
Horseshoe Gaming LLC announced that it has reached an agreement to purchase Empress Entertainment for $450 million in cash. As part of the deal, Horseshoe will assume debts of $150 million. The acquisition is part of the closely held casino company's expansion in the Midwestern US. Jack Binion, the son of legendary gambler Benny Binion, controls Horseshoe. The firm operates two casinos in Louisiana and Mississppi.
Comment:
Horseshoe Gaming LLC to purchase Empress Entertainment for $450 million in cash and $150 mil in assumed debt
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Starwood seeks sale of Caesars at about $3 billion
Article Abstract:
After saying no for about a year, Starwood Hotels & Resorts Worldwide is now saying yes, Caesars is for sale. Analysts think it could go for $2.5 million to $2.8 million. Starwood acquired the gambling unit, eleven casinos, as part of the acquisition of ITT Corp. Park Place Entertainment Corp. has expressed interest in Caesars.
Comment:
Eleven casinos don't help Starwood's bottom line
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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