The company may have no casinos in Nevada but that does not mean that the Trump name is unseen. This week Ivana Trump, who has nothing to do with Trump Entertainment Resorts, Inc other than her ex husband’s name, is advertising an 82-storey residential project to be known as Ivana Las Vegas, which will include a US$35 million penthouse. Work on the project should start next year and be completed in 2008. Last month Nevada saw the groundbreaking ceremony on a US$500 million hotel-condominium by Donald Trump. The Trump International Hotel & Tower Las Vegas is being built across from the new Wynn Las Vegas resort but the Trump building will have no casino.

The newly named Trump Entertainment Resorts owns three casinos in Atlantic City and a riverboat in Gary, Indiana. An unmanageable debt load caused Trump Hotels & Casino Resorts to file for bankruptcy last year, the second for the company and the third restructuring. Donald Trump is no longer the CEO and although the reorganized company emerged from bankruptcy at the end of May there remains much to be done to improve performance. The first quarterly report of the now named Trump Entertainment Resorts has shown a drop in revenue from the same period last year.

On Tuesday the new President and CEO of the company, James B Perry, acknowledged that the three Atlantic City casinos needed to be more competitive. Years of under funding have seen the properties lose ground to rivals, in particular the Borgata. Refurbishment, new attractions and a hotel tower for the Taj Mahal are proposed, and a focus on marketing studies and better customer service are hoped to bring about a new era for the Trump casinos. According to Perry there will be no quick fixes or gimmicks in his strategy to make Trump Entertainment Resorts, Inc a viable company. (E-08.18.05)

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