US Beal Bank announced it will bid alone for three Atlantic City-based Trump casinos, managed by Trump Entertainment Resorts, which is currently under bankruptcy protection.

Beal Bank offered Wednesday to convert its USD486m (EUR322.6m) loan to the casinos into equity in Trump Entertainment Resorts. As a result, the company would emerge from bankruptcy with no debt.

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After Trump Entertainment Resorts filed for bankruptcy protection, Donald and Ivanka Trump made a joint bid of USD114m with Beal to buy Trump Entertainment Resorts. The couple was not backed by the bondholders who increased their offer to buy the company for USD225m.

Last week the Trumps withdrew from the team with Beal and supported the bondholders’ offer. Donald Trump would get 10% of the company if the plan is approved.

Before the bank’s offer, Trump Entertainment preferred the Trumps’ plan as it ensured more cash to operate with, while the bondholders’ plan earmarked too more cash for paying down debt.