GAMBLING
Trump wants online deal
Donald Trump, the billionaire whose name sits atop two Atlantic City, N.J., resorts, is negotiating for a partner in New Jersey’s online gambling market after all 12 casinos notified the state of plans to offer Internet wagering.
Trump, who retains online gambling rights to his name, has held talks with Trump Entertainment Resorts Inc., the company that owns Atlantic City’s Trump Taj Mahal and Trump Plaza hotels, and other potential partners, according to his daughter Ivanka Trump, an executive with the New York-based Trump Organization Inc.
“Given the way online gaming is rolling out on a state-by-state basis, we really want to keep our options open,” Ivanka Trump said in an interview.
Trump could sign a deal with one of his namesake casinos or another operator, she said. Trump Taj Mahal has paired with Ultimate Gaming, part of Station Casinos LLC. Online gambling in New Jersey may start this year.
All 12 New Jersey casinos met a June 30 deadline to seek state permission to offer betting online, according to Lisa Spengler, a spokeswoman for the Division of Gaming Enforcement.
Trump’s online initiative is complicated by the ownership of the New Jersey hotels. Trump Entertainment emerged from bankruptcy in 2010 with Donald Trump as a minority investor and no management role. A licensing agreement signed with the company that year left him in control of his name for online gambling.
New Jersey legalized online betting in February as a way to boost the state’s $3 billion casino market. Online operators are required to partner with a casino located in the state. The casinos have all identified their prospective online partners to the state and may still be in talks, according to the state.
— Bloomberg News