Monday, 4 May 2015
Last updated 2 days ago
Apr 14 2010 | 10:42am ET
Donald Trump and Carl Icahn both went all-in for control of the former’s Atlantic City, N.J., casino empire, but it was Trump left holding all of the cards.
A federal judge picked Trump’s plan to reorganize the eponymous Trump Entertainment Resorts over that proffered by Icahn’s eponymous hedge fund, Icahn Partners. The hedge fund owns some $480 million in Trump Entertainment debt.
Icahn has 10 days to appeal U.S. Bankruptcy Judge Judith Wizmer’s decision.
Trump and his daughter, Ivanka, will hold up to 10% of the reorganized company. But the biggest winner stands to be the creditors committee, led by hedge fund Avenue Capital Group. Under the plan, Avenue will be Trump Entertainment’s largest shareholder.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…