Trump Hotels Focus During 1st Quarter Was On Quality Revenues With a Rein On Costs / May 1999

Hotel Online Special Report

Trump Hotels Focus During 1st Quarter Was On Quality Revenues With a Rein On Costs

NEW YORK - May 7, 1999--Trump Hotels Casino Resorts, Inc. ("THCR") (NYSE: DJT) today reported earnings and EBITDA for the first quarter ended March 31, 1999. Consolidated net revenues for the first quarter were $316.1 million, compared to $316.6 million reported for the same period in 1998. THCR's operating subsidiaries' EBITDA (earnings before interest, taxes, depreciation, amortization, CRDA, Indiana regulatory costs and non-operating expenses) for the first quarter of 1999 was $50.6 million versus $52.5 million reported in the 1998 first quarter.

Net loss for the first quarter of 1999 (before one-time charges) was $20.2 million or $.91 per share. Net loss, including one-time charges reflecting the adoption of SOP 98-5 (reporting of the cost of start-up activities) and a litigation settlement, was $25.3 million or $1.14 per share, compared to a net loss of $17.7 million or $.79 per share in the 1998 first quarter. For the first four months of 1999 through April, all of the operating subsidiaries' net revenues and EBITDA exceeded levels for the same period in 1998 with EBITDA increasing to $74.4 million in 1999 from $65.9 million in 1998.

"Our focus during the shoulder season was on quality revenues with a rein on costs," stated Nicholas L. Ribis, president and chief executive officer, "and the four month results continue to validate this strategy. April was a tremendous month for our company and is an excellent indicator for the five busiest months of the year," Ribis continued. "The strong results at our properties, coupled with our Spring/Summer corporate advertising campaign which began in April and continued cost containment programs, puts us in great shape for second and third quarter operating profits," concluded Ribis.

Trump Taj Mahal reported net revenues for the first quarter of 1999 of $123.8 million and EBITDA of $22.6 million, compared to net revenues for the 1998 first quarter of $125.6 million and EBITDA of $24.1 million. Through the four months ended April 30, 1999, EBITDA and operating margins were $32.6 million and 19.1% respectively, versus $30.1 million and 17.9%, respectively, for the four months ended April 30, 1998.

Trump Plaza reported net revenues of $90.8 million for the first quarter of 1999, compared with $96.0 million for the same period in 1998 and EBITDA of $14.1 million for the first quarter of 1999, versus $15.8 million reported for the 1998 first quarter. Through the four months ended April 30, 1999, EBITDA and operating margins were $20.3 million and 16.1%, respectively, versus $19.1 million and 15.1%, respectively, for the four months ended April 30, 1998.

For the first quarter of 1999, Trump Marina posted net revenues of $64.5 million, compared to $66.7 million for the first quarter of 1998. EBITDA was $8.9 million for the 1999 quarter, compared to $9.5 million for the quarter ended March 31, 1998. Through the four months ended April 30, 1999, EBITDA and operating margins were $14.0 million and 15.6%, respectively, versus $12.3 million and 14.0%, respectively, for the four months ended April 30, 1998.

Trump Indiana reported first quarter net revenues of $36.9 million and EBITDA of $5.0 million for the quarter ended March 31, 1999, versus $28.3 million and $3.1 million, respectively, for the first quarter of 1998. Through the four months ended April 30, 1999, EBITDA and operating margins were $7.5 million and 14.9% respectively, versus $4.4 million and 10.9%, respectively, for the four months ended April 30, 1998.

Trump Atlantic City Associates reported combined net revenues of Trump Plaza and Trump Taj Mahal for the first quarter of 1999 of $214.6 million versus $221.6 million for the first quarter of 1998. EBITDA was $36.9 million for the first quarter of 1999, compared to EBITDA of $40.0 million for the 1998 first quarter. Net loss for the 1999 first quarter was $17.2 million versus a loss of $13.3 million for the same period in 1998. Through the four months ended April 30, 1999, EBITDA and operating margins were $52.9 million and 17.8%, respectively, versus $49.2 million and 16.7%, respectively, for the four months ended April 30, 1998.

During the month of April, Donald J. Trump, Chairman of THCR, and Nicholas L. Ribis, President CEO, reported their purchase of 250,000 and 24,000 shares of Trump Hotels Casino Resorts' common stock, respectively.

Trump Hotels Casino Resorts, Inc. owns and operates Trump Plaza Hotel Casino, Trump Taj Mahal Casino Resort and Trump Marina Hotel Casino in Atlantic City, NJ, as well as Trump Indiana, the riverboat casino at Buffington Harbor, IN, on Lake Michigan. It is the exclusive vehicle through which Trump will engage in new gaming activities in both emerging and established gaming jurisdictions in both the United States and abroad.

TRUMP HOTELS CASINO RESORTS, INC. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except share data)

3 MONTHS

                                          31-Mar-99 31-Mar-98
REVENUES
CASINO                                     $291,783   $292,333
ROOMS                                        19,572     20,476
FOOD BEVERAGE                              32,241     33,670
OTHER                                         9,583      9,675
PROMOTIONAL ALLOWANCES                      (37,129)   (39,560)

NET REVENUES $316,050 $316,594

COSTS EXPENSES
GAMING                                     $185,000   $185,206
ROOMS                                         7,803      7,108
FOOD BEVERAGE                              11,211     10,764
GENERAL ADMIN                              65,628     64,617

TOTAL EXPENSES $269,642 $267,695

EBITDA $46,408 $48,899

CRDA/INDIANA STATE MUNIC OBLIG.            $2,088     $2,058
DEPRECIATION AMORTIZATION                  22,347     21,663
INTEREST INCOME                              (1,642)    (3,108)
INTEREST EXPENSE                             55,531     55,621
DEVELOPMENT COSTS                               702        204
OTHER NON OPER EXPENSE                       1,625        297

TOTAL NON-OPERATING EXPENSE, NET $80,651 $76,735

LOSS BEFORE MINORITY INTEREST
CUMULATIVE EFFECT OF ACCTG PRIN CHANGE ($34,243) ($27,836)

MINORITY INTEREST 12,523 10,166

CUMULATIVE EFFECT OF ACCTG PRIN CHANGE (3,565) -

NET LOSS ($25,285) ($17,670)

WEIGHTED AVERAGE No. SHARES 22,195,256 22,229,145

BASIC AND DILUTED LOSS PER SHARE ($1.14) ($0.79)

NET LOSS AS ADJUSTED(1) ($20,244) ($17,339)

BASIC AND DILUTED LOSS PER SHARE
(AS ADJUSTED) ($0.91) ($0.78)

(1) Net Loss As Adjusted excludes Development Costs and Non-operating

Costs effected for Minority Interest and the Cumulative Effect of
the Accounting Principle Change.

Note: Certain prior year reclassifications have been made to conform
to current year presentation.

TRUMP ATLANTIC CITY ASSOCIATES
Condensed Consolidated Statements of Operations
(Unaudited)
(In thousands)

3 MONTHS
31-Mar-99 31-Mar-98

REVENUES
CASINO                                     $195,166   $201,764
ROOMS                                        15,716     16,919
FOOD BEVERAGE                              24,230     25,744
OTHER                                         7,630      7,586
PROMOTIONAL ALLOWANCES                      (28,110)   (30,417)

NET REVENUES $214,632 $221,596

COSTS EXPENSES
GAMING                                     $122,398   $126,652
ROOMS                                         6,718      6,440
FOOD BEVERAGE                               8,208      8,167
GENERAL ADMIN                              40,439     40,376

TOTAL EXPENSES $177,763 $181,635

EBITDA $36,869 $39,961

CRDA                                           $814       $876
DEPREC AMORT                               15,551     15,428
INTEREST INCOME                                (707)    (1,867)
INTEREST EXPENSE                             38,397     38,779

TOTAL NON-OPERATING EXPENSE, NET $54,055 $53,216

NET LOSS ($17,186) ($13,255)

Note: Certain prior year reclassifications have been made to conform
to current year presentation.

TRUMP PLAZA ASSOCIATES
Condensed Statements of Operations
(Unaudited)
(In thousands, except statistical information)

3 MONTHS
31-Mar-99 31-Mar-98

REVENUES
CASINO $82,322 $87,293

   No. of Slots                               4,204      4,076
   Win per Slot/Day                            $160       $170
Slot Win                                    $60,654    $62,386

   No. of Tables                                103        117
   Win per Table/Day                         $2,337     $2,365
Table Win                                   $21,668    $24,908
Table Drop                                 $140,082   $151,612
Hold %                                        15.5%      16.4%

ROOMS                                        $7,751     $7,550
   No. of Rooms Sold                        102,946     97,708
   Room Rates                                $75.29     $77.53
   Occupancy %                                81.6%      77.3%

FOOD BEVERAGE                             $11,973    $12,680
OTHER                                         2,739      2,824
PROMOTIONAL ALLOWANCES                      (13,989)   (14,323)

NET REVENUES $90,796 $96,024

COSTS EXPENSES
GAMING                                      $50,233    $54,019
ROOMS                                         3,070      2,972
FOOD BEVERAGE                               4,124      3,610
GENERAL ADMIN                              19,284     19,611

TOTAL EXPENSES $76,711 $80,212

EBITDA (1) $14,085 $15,812

(1) EBITDA reflects earnings before depreciation, interest, taxes and
CRDA writedown.

Note: Certain prior year reclassifications have been made to conform
to current year presentation.

TRUMP TAJ MAHAL ASSOCIATES
Condensed Statements of Operations
(Unaudited)
(In thousands, except statistical information)

3 MONTHS
31-Mar-99 31-Mar-98

REVENUES
CASINO $112,844 $114,471

   No. of Slots                               4,175      4,145
   Win per Slot/Day                            $184       $183
Slot Win                                    $69,071    $68,380

   No. of Tables                                147        156
   Win per Table/Day                         $2,926     $2,960
Table Win                                   $38,715    $41,556
Table Drop                                 $234,539   $274,652
Hold %                                        16.5%      15.1%

Poker, Keno, Race Win $5,058 $4,535

ROOMS                                        $7,965     $9,369
   No. of Rooms Sold                        105,253     95,835
   Avg Room Rates                            $75.67     $97.76
   Occupancy %                                93.6%      85.2%

FOOD BEVERAGE                             $12,257    $13,064
OTHER                                         4,891      4,762
PROMOTIONAL ALLOWANCES                      (14,121)   (16,094)

NET REVENUES $123,836 $125,572

COSTS EXPENSES
GAMING                                      $72,165    $72,633
ROOMS                                         3,648      3,468
FOOD BEVERAGE                               4,084      4,557
GENERAL ADMIN                              21,364     20,793

TOTAL EXPENSES $101,261 $101,451

EBITDA (1) $22,575 $24,121

Note: EBITDA reflects earnings before depreciation, interest, taxes

and CRDA write-down.

TRUMP'S CASTLE ASSOCIATES
d/b/a TRUMP MARINA
Condensed Statements of Operations
(Unaudited)
(In thousands, except statistical information)

3 MONTHS
31-Mar-99 31-Mar-98

REVENUES
CASINO $60,890 $62,733

   No. of Slots                               2,178      2,155
   Win per Slot/Day                            $231       $231
Slot Win                                    $45,270    $44,772

   No. of Tables                                 91         94
   Win per Table/Day                         $1,886     $2,090
Table Win                                   $15,447    $17,678
Table Drop                                 $101,296   $111,844
Hold %                                        15.2%      15.8%

Poker, Keno, Race Win $173 $283

ROOMS                                        $3,286     $3,557
   No. of Rooms Sold                         47,473     52,682
   Avg Room Rates                            $69.22     $67.52
   Occupancy %                                72.5%      80.4%

FOOD BEVERAGE                              $7,269     $7,494
OTHER                                         1,603      1,885
PROMOTIONAL ALLOWANCES                       (8,562)    (8,946)

NET REVENUES $64,486 $66,723

COSTS EXPENSES
GAMING                                      $38,782    $39,997
ROOMS                                           692        668
FOOD BEVERAGE                               1,776      1,832
GENERAL ADMIN                              14,355     14,752

TOTAL EXPENSES $55,605 $57,249

EBITDA (1) $8,881 $9,474

(1) EBITDA reflects earnings before depreciation, interest, taxes and
CRDA writedown.

Note: Certain prior year reclassifications have been made to conform
to current year presentation.

TRUMP INDIANA, INC.
Condensed Statements of Operations
(Unaudited)
(In thousands, except statistical information)

3 MONTHS
31-Mar-99 31-Mar-98

REVENUES
CASINO $35,727 $27,836

   No. of Slots                               1,310      1,367
   Win per Slot/Day                            $233       $162
Slot Win                                    $27,232    $19,377

   No. of Tables                                 52         59
   Win per Table/Day                         $1,815     $1,602
Table Win                                    $8,495     $8,459
Table Drop                                  $51,363    $51,133
Hold %                                        16.5%      16.5%

ROOMS                                          $570         -
   No. of Rooms Sold                          9,099         -
   Avg Room Rates                               $59         -
   Occupancy %                                36.6%         -

FOOD BEVERAGE                                $742       $432
OTHER                                           350        204
PROMOTIONAL ALLOWANCES                         (457)      (197)
    NET REVENUES                            $36,932    $28,275

COSTS EXPENSES
GAMING                                      $23,820    $18,557
ROOMS                                           393         -
FOOD BEVERAGE                               1,227        765
GENERAL ADMIN                               6,483      5,834
   TOTAL EXPENSES                           $31,923    $25,156

EBITDA (1) $5,009 $3,119

(1) EBITDA reflects earnings before depreciation, interest, taxes,

Indiana regulatory costs and non-operating expenses.

Note: Certain prior year reclassifications have been made to conform
to current year presentation.

TRUMP HOTELS CASINO RESORTS, INC.
Supplemental Information
(Unaudited)
(In thousands)

                                                 3 MONTHS
CRDA /INDIANA OBLIGATIONS                   31-Mar-99 31-Mar-98
   PLAZA                                         $344       $419
   TAJ                                            470        457
   MARINA                                         349        257
   INDIANA STATE MUNICIPAL OBLIG.               925        925
               TOTAL CRDA/INDIANA OBLIG        $2,088     $2,058

DEPRECIATION AMORTIZATION
PLAZA $5,949 $6,053
TAJ 9,376 9,317
TCS 226 58
THCR HOLDINGS 71 63
MARINA 4,250 4,050
INDIANA (INCL JOINT VENTURE LOSS) 2,475 2,122
TOTAL DEPRECIATION/AMORT $22,347 $21,663

INTEREST EXPENSE
PLAZA                                       $11,761    $11,983
TAJ                                          23,445     23,580
TRUMP ATLANTIC CITY                           3,191      3,216
THCR HOLDINGS                                 6,061      5,888
MARINA                                       10,558     10,088
INDIANA                                         515        866
               TOTAL INTEREST EXPENSE         $55,531    $55,621

LOAN COST AMORT/BOND DISC INCL IN INT EXP
PLAZA                                          $448       $503
TAJ                                             897      1,010
TRUMP ATLANTIC CITY                             379        404
THCR HOLDINGS                                   269        269
MARINA(BOND DISC ACCRETION)                   1,033        885
INDIANA                                          36        134
         TOTAL LOAN COST AMORT/BOND DISC       $3,062     $3,205

Note: Certain prior year reclassifications have been made to conform to current year presentation.

###

Contact: Trump Hotels Casino Resorts, Inc., New York Nicholas L. Ribis, President CEO 212-688-0190

Also See:	Trump Hotels Casino Resorts Reports Net Loss of $37.6 Million for 1998, Net Revenues Flat / Jan 1999
	Trump Reports 1st Quarter 1998 Results / May 1998