Trump gambling on Vegas casinos

Trump Entertainment Resorts has backed a plan to let bondholders buy the company’s three Atlantic City casinos out of bankruptcy and give Donald Trump a minority share.

However, after weeks of talks, the bondholders and Trump still could not reach an agreement with Beal Bank.

The bank, which is based in Dallas, will file a competing plan today for obtaining the company by converting its $486m (€322.5m) loan to the casinos into equity in the company.