Donald Trumped

Donald Trump has reached a settlement with creditors that ends his battle to regain control of his Atlantic City casino empire.

The three New Jersey casinos will keep the Trump name while the celebrity real estate mogul drops his bid and ends all litigation against noteholders.

Trump Entertainment Resorts filed for bankruptcy protection in February and Trump stepped down as chairman. He and his daughter, Ivanka, have been battling creditors ever since.

The duo had offered $116 million in cash to take the company private, according to the Wall Street Journal. But unsecured creditors would have lost an estimated $1.25 billion under the plan. They submitted a rival offer of $250 million.

Details of the final agreement weren’t made public, but all parties said they were pleased with the settlement.

“This prolonged and continued litigation and the associated cost to the estate would mean that whoever won under their plan would ultimately lose,” Donald Trump said in a statement. “It is in the company’s best interests for all parties to coalesce around the noteholders’ plan, and I urge them to do so.”