Derelict Trump Casino Sold For 4¢ On The Dollar

The Associated Press reports:

Donald Trump wrote “The Art Of The Deal,” but it was Florida’s Seminole Indians who made a truly amazing deal to buy the opulent casino built by the man who is now president.

The Trump Taj Mahal, the Atlantic City casino that the real estate mogul built for $1.2 billion in 1990, went for 4 cents on the dollar when it was sold in March. Documents filed with the Securities and Exchange Commission on Tuesday revealed the price that billionaire Carl Icahn got from Hard Rock International for the shuttered casino: $50 million. The sale was publicized at the time, though the purchase price wasn’t.

Hard Rock, which is owned by Florida’s Seminole Indian tribe, plans to reopen the Taj Mahal in 2018 after scrubbing it of its minarets and ubiquitous mentions of Trump. Hard Rock says it plans to spend $375 million on a renovation that will draw on the world’s largest collection of music memorabilia. Hotel guests will even be lent Fender electric guitars to play in their rooms.