Trump transfers management of California casino to Indian tribe for $6 million

By Jeff Pines

Washington, Dec. 28 - Trump Hotels & Casino Resorts Inc. said it transferred management of the Twenty-Nine Palms Band of Luiseno Mission Indians of California's casino in Coachella, Calif., under the Trump 29 Casino name to the tribe for $6 million. The agreement was mutual, the company said.

The transfer agreement is subject to court and regulatory approval.

New York-based Trump Hotels & Casino Resorts began managing the casino in April 2002, and according to the company, the casino has shown significant improvements in operating performance.

"It's now time for the tribe to assume management responsibility. The goals set by the National Indian Gaming Commission have certainly been met," said Donald Trump, chairman and chief executive officer, in a news release.

Trump Hotels & Casino Resorts filed for bankruptcy on Nov. 21. Its Chapter 11 case number is 04-46917.

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