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Trump Entertainment Resorts Inc. (NASDAQ:TRMP), the casino company fronted by the helmet-haired star of "The Apprentice," is up for sale.

Of course, those are not the words the company used. Reuters uses the diplomatic language of "weigh strategic options for financing, capital structure and other alternatives." Usually, the "alternatives" companies weigh involve avoiding getting its butt kicked by its competitors.

Trump hasn't been the King of Atlantic City for a long time. When I get the urge to gamble (my house is about 60 miles or so from Atlantic City), I hit the Borgota, or the Tropicana, anywhere but a Trump property which just aren't as nice.

Adding to the Donald's woes is the recent start of gambling in nearby Pennsylvania. Gamblers from the Philadelphia area don't have to travel far to play the slots and Atlantic City casinos now have to dole out more comps to keep their patrons happy.

Trump may sell all of its casinos or refinance them, according to media reports. My bet is that the banks aren't going to be interested in helping Trump the company out if Trump the businessman is involved at all. Trump may wind up being a brand mascot like Colonel Sanders. Still, I bet that larger casino operators will be interested in some if not all of Trump's properties that are being shopped by Merrill Lynch & Co. (NYSE:MER)

This places NBC in a bind. "The Apprentice" is predicated on the position that Trump is a huge sauces. Maybe the season of the program will feature the suck-ups -- I mean apprentices -- having a garage sale on the Atlantic City boardwalk. I would even tune in to watch.