June 28, 2007 — Shares of Trump Entertainment Resorts, founded by real-estate developer Donald J. Trump, fell the most in six months after a newspaper said the casino company was having trouble selling itself.

Dennis Gomes, a bidder for Trump Entertainment, said discussions to purchase the company are “far down the process” and continuing.

Talks are “definitely not stalled,” Gomes said in an interview yesterday, responding to a Philadelphia Inquirer report that negotiations hit several snags.

Gomes said an estimate in the paper that Trump Entertainment was worth $11 a share was “way off. The range is a lot higher than the $11 number.”

A partnership between Gomes, who ran the Trump Taj Mahal Casino Resort, and Morris Bailey, the head of JEMB Realty Corp. in New York, is among the suitors for the company. Also bidding is Dune Capital Management, according to the Star-Ledger newspaper of Newark, New Jersey.

Trump shares tumbled as much as 17 percent after the Inquirer report, the biggest decline since the company emerged from bankruptcy protection in May 2005.

They ended down $1.27, or 9.2 percent, at $12.60 in Nasdaq trading.

At yesterday’s price, the company is valued at about $391 million. Trump Entertainment also had debt of $1.4 billion in March.

This entry was posted on Saturday, October 27th, 2007 at 10:44 pm While Dave was in Money. Responses are currently closed, but you can trackback from your own site.