According to the Wall Street Journal, Plano-based Beal Bank was partner to “the Donald” and his daughter Ivanka Trump in their bid to regain control of the Atlantic City casino group that bears their brand name. They’ve abandoned that bid and reached a settlement.
But was Beal Bank left high and dry in the outcome?
It was unclear how Beal Bank, which holds a senior $486 million secured loan on the casinos and had been Trump’s equity partner in the takeover bid, figured into the settlement. “We are not in a position to comment at this time,” Beal Bank President Andrew Beal said through his assistant.
