He said the best course of action would be for Trump Entertainment to use the money to pay down some of its $1.6 billion in debt. “Any way you slice it, Coastal Marina has over-paid for the Trump Marina,” he wrote in a note to investors Thursday. by Harrah’s Entertainment Inc., to be called the Margaritaville Casino Resort. Margaritaville Holdings is also involved in a casino project being built in Biloxi, Miss. “They (Margaritaville Holdings) will be involved throughout the design and development of the project,” Leonard said. The shops feature a Florida Keys theme, and take their name from Buffett’s most famous song. He said Coastal Marina will own all of the Atlantic City project, but will engage in a business venture there with Margaritaville Holdings LLC, owned by musician Jimmy Buffett, which includes a string of restaurants and retail shops. He was not immediately available to further discuss his plans for Atlantic City.Ĭoastal Marina is the largest shareholder in the Suffolk Downs racetrack in Boston, according to company spokesman Charlie Leonard. “Together with Jimmy Buffett’s team at Margaritaville, our plans are to create an exciting new property that we believe will tap its full potential and make it one of the most successful destination gaming resorts in Atlantic City,” Fields said in a statement.
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