Vol. 4, No. 11, November 2007
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Trump rumors: Cordish and Gomes?
A report in the Star-Ledger newspaper of Newark, New Jersey has revived rumors that longtime Atlantic City casino executive Dennis Gomes may be involved in an attempt to buy one or more of Trump Entertainment’s Atlantic City casino properties.
The newspaper, citing anonymous sources, reported that Baltimore’s Cordish Company was in talks to acquire Trump Entertainment Resorts, Inc., operator of three Atlantic City casinos. Wall Street gaming analysts immediately speculated that meant involvement by Gomes, who is already a partner of Cordish in casino projects in Kansas and Indiana.
Mark Juliano, CEO of Trump Entertainment, denied there are any specific talks going on that he knew of which involve the sale of one or more properties. The analysts, however, speculate that the talks may be going on between Cordish and board chairman Donald Trump without Juliano’s knowledge.
Neither Trump nor Cordish President David Cordish would confirm or deny the rumors. The speculation, however, has created an upward surge in stock price for Trump Entertainment.
Gomes, who once was president of Trump Taj Mahal and was long in charge of Aztar’s two Tropicana properties, teamed up with an investment firm earlier this year in an attempt to negotiate a deal to buy one or more of the Trump properties. Although that deal fell through, it is well-known that Gomes wants to return to the Atlantic City casino business.
