Atlantic City, New Jersey - Donald Trump will regain control of the Atlantic City casino empire he once ran.
Trump Entertainment Resorts chose a plan late on Monday advanced by the real estate mogul and reality TV star to buy the company out of bankruptcy and take it private, together with Dallas-based Beal Bank.
Trump's $100m cash offer topped a competing bid backed by bondholders, whose refusal to deal with Trump in February led him to resign as chairman of the company and launch a drive to regain power.
Ironically, Trump regained control of the company the same way he lost it four years ago - through bankruptcy. He was forced to relinquish operational control of the company and its three casinos as part of its emergence from its second bankruptcy in 2005.
-AP