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Trump Entertainment Resorts and Diamondhead Casino Corporation Sign
Letter of Intent for Mississippi Casino Development
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Diamondhead Owns 404 Acres on the Bay of St. Louis
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ATLANTIC CITY, N.J. - June 12, 2006 -- Trump Entertainment Resorts, Inc. (NASDAQ: TRMP) and Diamondhead Casino Corporation (OTCBB: DHCC) announced today that they have signed a letter of intent pursuant to which the parties intend to form a joint venture partnership to develop, build and operate a destination casino resort in Diamondhead, Mississippi.

The joint venture would cover a minimum of forty acres within a 404-acre tract of land owned by Mississippi Gaming Corporation, a wholly-owned subsidiary of Diamondhead. The Diamondhead tract fronts Interstate 10 for approximately two miles and the Bay of St. Louis for approximately two miles and is located in Hancock County, Mississippi. The property is zoned as a Special Use District-Waterfront Gaming District by Hancock County. On October 17, 2005, following Hurricane Katrina, Mississippi Governor Haley Barbour signed a bill into law that permits casinos to be built on land up to 800-feet from the mean high water line of certain bodies of water. The new law applies to the Diamondhead property.

"We believe a partnership with Trump Entertainment Resorts for this venture adds up to an ideal combination because of their experience, the value of the Trump brand, the location of our site on Interstate 10 and the vitality of the Gulf Coast market," said Deborah A. Vitale, the Chairman, Chief Executive Officer and President of Diamondhead. "We have the land, the location and the desire to pursue a master plan for the entire tract that should not only enhance long term shareholder value, but which should significantly enhance the surrounding economy."

"As we renovate and re-brand our Atlantic City properties, we are also focused on our corporate development initiatives and expanding the Trump brand into new markets," said James B. Perry, President and Chief Executive Officer of Trump Entertainment Resorts, Inc. "We are excited about the prospect of bringing the Trump brand to the Gulf Coast, and we hope to join private and public entities in redeveloping the region. We believe that this is a great opportunity to create value for our company, our shareholders and the citizens of Mississippi."

The formation of a joint venture and development of this project are subject to certain conditions including, but not limited to, further due diligence and receipt of regulatory and other approvals and permits.

About Trump Entertainment Resorts
Trump Entertainment Resorts, Inc. ("TER") is a leading gaming company that owns and operates three properties. TER's properties include Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, located on the Boardwalk in Atlantic City, New Jersey, and Trump Marina Hotel Casino, located in Atlantic City's Marina District. Together, the properties comprise approximately 371,300 square feet of gaming space and 3,180 hotel rooms and suites. TER is the sole vehicle through which Donald J. Trump, TER's Chairman and largest stockholder, conducts gaming activities and strives to provide customers with outstanding casino resort and entertainment experiences consistent with the Donald J. Trump standard of excellence. Trump Entertainment Resorts, Inc. is separate and distinct from Mr. Trump's real estate and other holdings.

About Diamondhead Casino Corporation
Diamondhead Casino Corporation ("Diamondhead"), through its wholly-owned subsidiary, Mississippi Gaming Corporation, owns and intends to develop, in cooperation with a joint venture partner, approximately 404 acres of land in Diamondhead, Mississippi. Diamondhead intends to develop the property as a destination casino resort and hotel with condominiums and other amenities.

Cautionary Statement Regarding Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.

All statements, trend analysis and other information contained in this release relative to the parties' performance, trends in the parties' operations or financial results, plans, expectations, estimates and beliefs, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. 

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Contact:

Trump Entertainment Resorts
Tom Hickey, 609-441-6819
tom.hickey@trump.com
or
Diamondhead Casino Corp.
Deborah A. Vitale, 703-683-6800
 

Also See: Trump Entertainment Resorts, Inc. Reports a Net Loss of $26.5 million from Date of Reorganization through December 31, 2005; Operating and Cultural Changes at the Proerties Will Take 18 months Before Benefits Seen / March 2006
MGM Mirage Will Open a $700 million Hotel and Casino Alongside Foxwoods Resort Casino in Connecticut / April 2006

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