Wednesday, 1 October 2014
Last updated 41 min ago
Apr 8 2011 | 12:28pm ET
The name doesn’t have quite the ring of “Trump” but New York billionaire Marc Lasry of Avenue Capital Group has become the main owner of Trump Entertainment Resorts.
On Wednesday, Lasry received final approval from New Jersey casino regulators to control the company which Avenue won in a bankruptcy battle last year. Avenue is the largest shareholder, with 22%, but Donald Trump, the company’s founder, retains 10%.
The three casinos owned by Trump Entertainment Resorts employ about 8,000 people after cutting about 600 jobs since last fall. One of the three, the Trump Marina Hotel Casino, will be sold next month to a Texas company. That will leave the new owners with the flagship Trump Taj Mahal Casino Resort and the Trump Plaza Hotel and Casino.
Trump told Bloomberg that things have been going well since the new owners took over last year:
"We own it together, and I am really happy about it," he said. "They are wonderful partners."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...