of Trump Entertainment Resorts, Inc.
|NEW YORK - July 6, 2005 -- Donald J. Trump, the Chairman and largest
stockholder of Trump Entertainment Resorts, Inc. (OTCBB: DJTE), has announced
today that after careful consideration of several candidates, he has appointed
James B. Perry as the Chief Executive Officer of the Company.
Mr. Perry has had a long and distinguished career in the casino and other businesses, including being CEO and President of Argosy Gaming Company. Perry recruited and a led a management team during a period of enormous growth, resulting in Argosy's recognition as the premier riverboat operator in the nation and the naming of Perry as the "CEO of the Year" in the gaming industry. During Perry's tenure at Argosy, the company grew its revenues and cash flow dramatically, implemented free cash flow discipline to manage capital and growth opportunities, and raised over a billion dollars in the public markets to finance the expansion of the company. Perry retired as CEO in 2003, remaining a member of the Board of Directors.
Mr. Trump stated, "My search for a Chief Executive Officer resulted in a highly competitive process in which many outstanding candidates were considered. I am happy to select Jim. He is a perfect fit for our company -- a company which has a chance to be a truly outstanding one. I look forward to working with him so that it can be brought to new heights."
Mr. Perry stated, "I am honored by the confidence Mr. Trump and the Board have placed in me. I am excited about the opportunity to reestablish the company as a leading casino operator, to continue to strengthen the balance sheet, and to capitalize on the world-wide prominence of the Trump brand."
The Board of Directors of the Company has unanimously approved the appointment.
Trump Entertainment Resorts, Inc. is a leading gaming company that owns and operates four properties. The Company's assets include Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, located on the Boardwalk in Atlantic City, New Jersey, Trump Marina Hotel Casino, located in Atlantic City's Marina District, and the Trump Casino Hotel, a riverboat casino located in Gary, Indiana.
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.
Trump Entertainment Resorts, Inc.
|Also See:||Donald Trump Withdraws from Casino Development Near the French Lick Springs Resort in Indiana / March 2005|
|Majority of Trump Hotels Bondholders Approve Debt Restructuring Plan Allowing Donald Trump to Remain the Company's Chairman and Capitalize on the Trump Brand / October 2004|