Over the weekend James Perry, the chief executive for Trump Entertainment Resorts, ‘retired’ according to company spokespersons.
With the corporation publicly up for sale, Perry would have been one of the first casualties as new management would take over the property.
As was previously reported, Trump Entertainment has at least one suitor in the persons of former casino executive Dennis Gomes and real estate magnate Morris Bailey.
Analysts are trying to discern the effect Perry’s departure would have on the closing of any deal.
Privately from personnel within the organization, Donald Trump fired Perry for the lack of improvement to the corporate bottom line. Perry’s decision to manage from his home in California is alleged to have contributed to his departure.
In the event a deal is struck with Gomes and Bailey, Perry’s departure will probably be beneficial to the sale. If a sale is not consummated his leaving would have a negative influence.
There are numerous difficulties to completing a deal although Gomes has publicly stated he wants back into Atlantic City. Trump has understated the fact that he wants out of the casino business, at least in New Jersey. A restrictive 1.4 billion dollar debt, aging and decaying properties are all anchors to a deal sailing through,however.
Mark Juliano, the chief operating officer and second only to Perry, has assumed Perry’s responsibilities for the short term. Juliano is well respected in the New Jersey market and in fact nationally with a career spanning Caesars and the MGM Corporation.
According to a source wishing anonymity, a deal will be struck, if possible, rather quickly by Gomes and Bailey within two weeks.
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