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CONFIRMED: Trump and Wynn in talks to Build Atlantic City Resort

By Chuckmonster on Friday, 27th October 2006 9:31pm
  » filed under Las Vegas  comments: 0

   

Press of Atlantic City is reporting that Donald Trump has confirmed that he and Steve Wynn are in talks to redevelop Trump Plaza into a $3 Billion dollar resort in Atlantic City.

These tidbits are revealed in a story about Vera Coking, the elderly widow who owns a house and plot of land that has rebuffed Trump Plaza's encroachment since the 1990s, causing the casino monolith to "build around her." It's an interesting story of eminent domain, sweetened with a couple of nuggets about the possible Wyump Plaza or is that Twynn Atlantic City.

Either way, the domain WynnAtlanticCity.com is still being squatted on by Elliot Fisher in Cincinnati Ohio. Elliot, we'll give you $30 bucks for that domain name!

Coking is the last remaining property owner on a block of land crucial for would-be partners Trump and Wynn to develop a Boardwalk casino project that would replace the aging Trump Plaza.

But recent negotiations between Trump's casino company and Coking have stalled — an impasse reminiscent of their nationally publicized eminent domain case in the 1990s. A Superior Court judge ruled then that Trump and the state Casino Reinvestment Development Authority had no right to seize Coking's home for an expansion of the Plaza.

On behalf of Trump, the redevelopment authority offered to buy Coking's house for $251,250 in the 1990s. Coking said Trump Entertainment Resorts Inc. is currently offering her $250,000. “You can't even buy a house in the Inlet for that price,” Coking said of one of the city's blighted sections.

When Trump took control of the [Trump Plaza] site in the 1990s, the self-proclaimed master of “the art of the deal” also could not buy out Coking. Now Coking is facing not one, but two casino titans. Trump and Wynn need her property for their proposed $3 billion project. On Wednesday, Trump confirmed that he has been talking to Wynn about building a gigantic casino. The project would encompass the Trump Plaza site and three surrounding blocks of land, including the Coking property.



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