Trump: How to Get Rich

Make Sure Both Sides Come Out Winning

In The Art of the Deal, I described how I acquired the Hilton property in Atlantic City, now known as Trump Marina, for $320 million. It was the biggest gamble of my career at the time, and it became front page news because the property was also sought by Steve Wynn, the largest casino owner in Las Vegas, who launched a hostile takeover bid before Hilton chose me as its white knight.

I like all of my Atlantic City hotels, but Trump Marina is where I prefer to stay when I’m in town, because acquiring this property was a victory to savor. It reminds me of an essential negotiating skill: Let everyone come out a winner. There was no rancor in this triumph.

There was drama, however—especially when Steve Wynn got involved. It became a competition of heavy hitters, and I loved every minute of it. I’ll bet Steve did, too. To this day, we are good friends.

Interestingly enough, we are now both fodder for an HBO movie in development about Atlantic City. I got a copy of the script and it takes plenty of shots at me and Steve. It is highly inaccurate.

Steve, in essence, provided a catalyst for both the Hiltons and myself to get what we wanted. Was Steve the loser? No. I got the property I wanted, but Steve is thriving. The battle for the property enlarged his reputation and probably helped him move on to even bigger deals.

If the HBO movie ever makes it to the small screen, don’t believe what you see. You’ll get a better view of reality from other TV shows on the air. In a good negotiation, all sides win.