Trump Enterprises has announced the sale of the Trump Marian Hotel Casino in Atlantic City to Coastal Development LLC for $316 million. Once the sale is completed the resort will be refurbished and renamed Margaritaville.

Coastal Development will team with singer Jimmy Buffet who started the chain of restaurants and cafes named after one of his most popular songs. The new Hotel and Casino will carry the theme found in other Margaritaville properties. The Trump Marina includes a 27 story hotel with 728 guest rooms and the casino has 79,000 square feet of gaming space. There is no word of an expansion at this time