Trump Partners With 76ers Ex-President

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The New York Sun

Donald Trump signed a former president of the Philadelphia 76ers, Pat Croce, as a partner for the casino he’s planning in the city next year.


The partners are applying for a license to build a casino for the former Budd Co.factory site at the intersection of Interstate 76 and Pennsylvania Route 1 in the city’s Nicetown section, Trump Entertainment Resorts said yesterday in a statement.The company in October bought a five-year option to lease or buy the site.


Trump Entertainment is seeking to expand outside its Atlantic City, N.J., home base after emerging from bankruptcy protection in May. The gaming licenses will be issued by the Pennsylvania Gaming Control Board by the end of 2006 and allow for the operation of as many as 5,000 slot machines, the company said.


Pennsylvania last year legalized the operation of slot machines to bring additional revenue to the state. Other casino companies interested in the state’s gaming market include Penn National Gaming and Harrah’s Entertainment.


Mr. Croce, who retains a minority interest in the 76ers, stepped down as president in 2001. He dropped plans to build a casino on the site of the city’s Adam’s Mark hotel in September, the Philadelphia Inquirer reported.


Trump Entertainment shares rose 48 cents, or 2.7%, to $18.22 as of 4 p.m. in Nasdaq Stock Market composite trading.


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