Billionaire investor Carl Icahn plans to increase his bid to purchase Donald Trump's bankrupt casinos, according to Associated Press.
Icahn Enterprises, the billionaire's investment company, says it will commit $125 million more in financing to buy Trump Entertainment Resorts Inc., according to court papers filed in U.S. Bankruptcy Court in New Jersey.
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Icahn has already agreed to buy a majority of the $486 million bank debt on the three properties: Trump Plaza Hotel and Casino, Trump Taj Mahal Casino Resort and Trump Marina Hotel Casino.
Trump bondholders also want to buy the casinos and have offered $225 million in a deal that would give Donald Trump a 10 percent stake in the reorganized company.
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