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Trump Entertainment chairman resigns from board

ATLANTIC CITY, N.J. (AP) -- Trump Entertainment Resorts says Marc Lasry is stepping down as chairman of its board of directors.

The Atlantic City casino company says Lasry's resignation will take effect Feb. 28.

Lasry will be replaced as board chairman by Robert Griffin, who is Trump Entertainment's chief executive officer. Griffin has been a board member since 2010.

Lasry led the $225 million bankruptcy buyout of Trump Entertainment in 2010. He is the chairman and CEO of Avenue Capital Group, an investment firm which is the biggest investor in Trump Entertainment and has three representatives on its board.

Michael Elkins, a portfolio manager at Avenue Capital, will assume Lasry's place on the board.