Trump Marina Hotel Casino, located in Atlantic City’s Marina District, has been purchased by Houston-based Landry’s Inc. for $38 million. The deal is expected to close the second quarter of this year.

Landry’s, a restaurant and casino operator, announced it would rename the facility Golden Nugget Atlantic City, and spend $150 million to rebrand it into a luxury resort. Landry’s owns the rights to the Golden Nugget name thanks to its purchase of the Golden Nugget Las Vegas in 2005.

The deal marks the return of the Golden Nugget brand to Atlantic City. The original Golden Nugget Atlantic City was opened by Steve Wynn in 1980 and eventually became the Atlantic City Hilton in the mid-1990s.

“We are excited to bring the Golden Nugget back to Atlantic City,” said Landry’s President and CEO Tilman J. Fertitta in a prepared statement. “Our plan is to transform the Trump Marina into a luxurious and exciting hotel and casino with the highest level of service.”

According to Fertitta, the entire property will be updated with a fresh modern look. Reconfigured amenities will include new bars and lounges with live entertainment, retail offerings, updated rooms and suites, renovated spa, poker, race and keno rooms and the H2O Pool and Lounge, which will feature all-season hot tubs and fire pits.

All improvements are expected to be completed by the end of this year.