Sean Ryan is associate editor of Real Estate New Jersey
ATLANTIC CITY-Trump Entertainment Resorts plans $110 million in capital improvements, the first phase of a multi-year plan to turn around the troubled casino operator. No details on financing for the effort were disclosed.
"These projects range from the creation of memorable new food venues to the design and creation of entertainment experiences that positively change the atmosphere as customers enter our properties," says James B. Perry, Trump's president and CEO. The $110 million does not include the $32 million that has already gone into properties in 2005. Some $25 million of that total is earmarked for a new retail and restaurant promenade along the entrance corridor to the Trump Taj Mahal parking garage. A new high-end Asian gaming area, a new casino lounge and noodle bar are also planned. These renovations are not part of the 800-room tower currently slated to begin construction in June 2006.
"We also plan on making some changes to the casino floor to make the area friendlier and more fun for our customers," Perry says of the Taj. "Our plan is to bring the activities that our customers care about closer to the action on the gaming floor."
Trump Plaza will get a facelift to the oceanfront façade, as well as lobby changes. The New Yorker restaurant will be replaced with a $4-million food venue, including Liquid Bar and EVO Restaurant.
At Trump Marina, the meeting and convention space will be renovated and a new food venue added. "By the middle of 2006, we expect to have completely updated every standard guest room at the three properties," Perry says. Back-of-office projects include new uniforms at all three properties, as well as cafeteria revamps.
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