Atlantic City's Steel Pier amusement park on the block according to a Wall Street Journal report. CB Richard Ellis Group has been hired by Trump Entertainment to sell Steel Peer with a minimum bid of $2.5 million.
"We believe selling the Pier through auction is the best course of action for the company to increase the equity value for our shareholders," said Brian Cahill, a spokesman for Trump Entertainment. "We are a gaming company, and Steel Pier is not part of the casino."
The Steel Pier is located opposite The Boardwalk from Trump Taj Mahal. Previous plans for the property included redeveloping the space into retail and entertainment attractions along with luxury condominiums.
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