Trump Entertainment Resorts agreed to sell the Trump Marina Hotel Casino in Atlantic City to Golden Nugget owner Landry’s Inc. for $38 million.

The transaction is expected to be completed in the second quarter and is subject to a working capital adjustment, the namesake firm of Donald Trump said in a statement. The casino company was taken over by bondholders through bankruptcy last year.

Landry’s, a restaurant group taken private by its management last year, operates Golden Nugget casinos in Las Vegas and Laughlin, Nev. The Houston-based firm plans to renovate the Marina and rebrand it a Golden Nugget resort, owner and Chief Executive Tilman Fertitta said.

The first phase will cost about $150 million and include new restaurants, spa, pool and updated rooms, Fertitta said.

Marc Lasry, CEO of New York-based Avenue Capital Group, Trump Entertainment’s largest shareholder, told New Jersey regulators in July he was seeking a buyer for the casino.