Trump Close To Deal To Renovate Old Pier

Casino mogul Donald Trump is close to signing a $20 million deal with Japanese video game maker Sega Enterprises Ltd. to renovate Atlantic City’s famed Steel Pier, a Trump representative said Wednesday.

Nicholas Ribis told the state Casino Control Commission that Trump and Sega would jointly develop the pier and an enclosed walkway that connects it with Trump Taj Mahal casino and hotel.

Ribis said the project would feature high-tech, family-oriented attractions, such as virtual reality rides.

Construction would begin later this year with the amusement park opening in the summer of 1996, Ribis said. He said more details on the project will be provided in an announcement within 30 days.

Trump had previously said he was negotiating with Walt Disney Co. and Six Flags amusement park company to join him in the project.

The exact status of the negotiations with Sega wasn’t clear. Ribis told regulators a “term’s sheet” had been signed and that a lease would be signed shortly.