A New York gambling company is buying Atlantic City’s Trump Marina Hotel Casino for $316 million US. It will be renamed “Margaritaville.”

Coastal Marina is buying the casino from Trump Entertainment Resorts.

Trump Entertainment is the casino company found­ed by real estate magnate Donald Trump. After the sale, the company will have two casinos in Atlantic City: The Trump Taj Mahal Casino Resort, and Trump Plaza Hotel and Casino.

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