ATLANTIC CITY - "This is where I found a home," say Ed Ryan, who has been working at Trump Marina since it opened as Trump Castle in 1985.

Ryan says, "I've seen a lot of changes over the years."

And a big change is on the way now for the Marina.

Today officials announced it's been sold to Coastal Development, a New York based gambling company, and soon visitors who have been "sitting on the dock of the bay", will be changing tunes and "wasting away again in Margaritaville," the casino.

The Marina was Trump's worst performing casino, reporting a nearly 50 percent decline in gross operating profits in the first quarter of this year.

Now the company will be $316 million richer.

"Looking at all the options that we had for the company we thought this was the right thing to do for the company, for our employees, for our investors, so we're very happy about it," says Mark Juliano, C.E.O. of Trump Entertainment Resorts.

Several employees say they've been hearing the Marina would sell for years, so they're not surprised.

"I felt that this was going to have to happen to turn this place around, otherwise they could have probably had to close the doors," says employee David Bade.

And according to some employees, nervousness about their job security is mixed with excitement over a new opportunity.

"The sale I think it's great, get some new money in here, new management, I think the place could take off," says Bade.

The expansions of the Borgata and Harrah's in the marina district will provide some stiff competition for Margaritaville, but the recognizable brand could do more to make Atlantic City the vacation destination the gaming industry is seeking.

"I don't see any downside to this," says Juliano.

The sale of the Marina is expected to finalize in the next 6 to 9 months, no word on when we'll see Margaritaville, for now Trump Entertainment has all eyes on opening the new tower at the Taj Mahal, set for this September.