Offshore Company Offers $400 million for Trump

Offshore Company Offers $400M to Trump: “ATLANTIC CITY, N.J. – An Internet casino operator said it is offering Donald Trump $400 million for a stake in his ailing casino company.

Casino Fortune, a Trinidad-based company, said Tuesday it has approached Trump about replacing DLJ Merchant Banking Partners, whose plans for a bailout of Trump Hotels & Casino Resorts Inc. fell through last week.”

I did a bit of digging and not much is known about Casino Fortune. Their company Web site serves only to tell people about the experience of its vice president and general manager, Dennis Rose, and the trustworthiness of its “state-of-the-art” Internet gambling operation. It’s apparently party of the Sunny Group of Companies, based on the Caribbean islands of Trinidad and Tobago, with operations in Africa, Asia, Europe, the Caribbean, and the Internet. Beyond that, I’m left baffled.

However, the AP article by writer/reporter John Curran sheds this interesting tidbit:

“The company may just be out for publicity, said one industry observer.

“‘A lot of these Internet gaming companies go to extraordinary lengths to get publicity, whether it’s putting a tattoo on a streaker at the Super Bowl or buying advertising space on Danny Bonaduce’s back in celebrity boxing,’ said Joe Weinert, vice president of Spectrum Gaming Group, a casino consultancy. ‘They’re very innovative that way.'”

That’s probably more like it. At any rate, it’s just plain funny that Donald Trump’s company is the target of a minority buyout of approximately 30-35% by an Internet casino.

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