By Ian Hiaring, Rakeback.com Poker News Staff Writer
The Golden Nugget was one of the most profitable casinos in Atlantic City in the 1980’s, and after a 24 year absence from the area, the iconic casino will return to the area.
Landry’s Restaurants, owners of the original Golden Nugget in downtown Las Vegas and The Golden Nugget in Laughlin Nevada, announced last week that they’ve purchased the Trump Marina Hotel and Casino in Atlantic City, and will rebrand the resort with the familiar Golden Nugget name.
Steve Wynn originally brought The Golden Nugget to New Jersey in 1980 and enjoyed success despite his differences with state officials. Wynn sold the casino to Bally’s Entertainment for $440 million, and vowed to never return to the area.
Landry’s paid a total of $38 million for the Trump Marina, far less than the $270 million price tag in an aborted deal to sell the property to Coastal Development LLC in 2008 which resulted in litigation between Donald Trump and Coastal Development.
Rebranding is expected to be completed by Fall 2011, and will incorporate the traditional Golden Nugget logo and design.
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