The casinos will keep his name but Donald Trump will no longer be in charge of the Atlantic City properties. Trump has resigned from the board of directors in a dispute with creditors over a $1.25 billion debt-restructuring plan. Trump announced his resignation of Friday and had some angry words for the bondholders of Trump Entertainment.

"Some time ago, I made an offer to buy the company in the hopes that I might be able to reverse its fortunes, but the bondholders turned me down," Trump said in the statement. "Now I will study and watch as the horrible and outrageous fees being paid to lawyers and consultants will suck the blood from the company."

Trump is the largest individual shareholder, owning about 25 percent of the company's stock. He said he plans to sell but that it may be complicated by the securities laws. Mark Juliano, Trump Entertainment's chief executive officer, said the Trump name will remain on the casinos.