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Trump then started negotiations to promote a 50 % stake within the property to the Rank Group for $325 million and convert it into a tough Rock Lodge and Casino. Trump subsequently introduced a settlement to promote a fifty-one % stake within the Castle to Colony Capital for $125 million, which can be used to assemble a brand new resort tower and re-theme the property as Trump Marina. Revenues at Trump Castle took a sharp decline in 1990, attributable to competitors from its newly opened sister property, Trump Taj Mahal, in addition to broader financial elements such because the Gulf Warfare and the early nineties recession. Bondholders who had taken over Trump Leisure Resorts after its 2009 bankruptcy remained desirous of promoting Trump Marina and concentrating on the corporate’s two different casinos.
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