Hearing set on fate of Trump casinos in A.C.

A bankruptcy court judge set Jan. 20 as the first of five possible hearing dates to decide the fate of Trump Entertainment Resorts Inc., which owns the three Trump casinos in Atlantic City.

The two groups competing to buy the company each upped their offers today in a Camden hearing.

The bondholders increased their offer to $225 million from $175 million. Donald Trump, the reality TV star and real estate mogul, increased his bid from $100 million to just under $114 million. Trump is bidding with his daughter, Ivanka, and Dallas-based Beal Bank.

Federal bankruptcy Judge Judith Wizmur denied a request by Trump to throw out the bondholders' new offer. Wizmur said she would be weighing both in picking the best plan for the gambling company to emerge from bankruptcy.

Trump Entertainment filed for Chapter 11 on Feb. 17.    - Suzette Parmley