CNBC's Faber Says Trump Enterntainment Shares On Takeover Talk
Trump Entertainment Resorts shares rose sharply Friday, fueled by speculation of a potential sale of the hotel and gaming company, CNBC's David Faber reported.
Trump Entertainment shares were recently trading up $1.33, or 8%, $18.15.
Although Faber said he's not sure if the rumors are true, it is possible casino operators are looking to increase up their presence in Atlantic City.
"The success of Borgata (is) perhaps encouraging some people to want to do something," Faber said, referring to the Borgata, a hotel and casino in Atlantic City, which is a joint venture between Boyd Gaming and MGM Mirage .
Trump Entertainment's properties include Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino and Trump Marina Hotel Casino, located in Atlantic City.
