Attributing much of the decline in gaming revenues for 2007 to increasing competition from Pennsylvania, Trump Entertainment Resorts yesterday announced fourth quarter and full year results for 2007. Despite this, according to the New Jersey Gaming Control Commission the company’s gaming revenues outperformed the Atlantic City marketplace. However, the fourth-quarter loss swelled to $183.2 million from $9.68 million a year earlier, and revenue fell 6.4 %, to $228.6 million. Trump posted its biggest loss since emerging from bankruptcy in May 2005 and the company’s shares have declined 75% since then.

In making the announcement, Mark Juliano, Chief Executive Officer of the Company, said, "2007 was a year of accomplishment and challenge for our company. Generally, we are pleased that our initiatives aimed at attracting new cash business, targeting our marketing dollars, controlling costs and delivering a high quality experience through facility innovation and service enhancement led us to increase our overall market share and deliver consistent margins at two of our three properties. Certainly the introduction of gaming in Pennsylvania had a more severe impact than had been anticipated.”

Slot revenue for the quarter decreased by 7.3%, or $13.0 million, on a year-over-basis, compared to a 14.4% combined decrease for other Atlantic City gaming operators. For the full year 2007, the Company's slot revenue declined by 7.8%, or $59.1 million, compared to a combined decrease of 9.2% by competitors on a year-over-year basis. Table revenue for the quarter decreased by 5.2%, or $4.2 million, on a year-over-year basis, compared to an overall 5.9% increase for the Company's competitors. For the full year 2007, the Company's table game revenue increased by 0.8%, compared to an overall increase of 3.7% for the Company's competitors.

Mark Juliano commented, "We viewed 2007 as an opportunity to continue investing in a new business model focused on increasing the quality of our customers, length of stay and diversifying our revenue streams to include more non-gaming amenities. The critical changes we have made during the past two years to accomplish these goals led us, in my view, to outperform the market revenue trends for the fourth quarter and full year. While the year posed challenges for each of our properties and the entire Atlantic City gaming market, we are encouraged by the results our strategic initiatives have produced and are confident we have made great accomplishments in building the company we have been envisioning for nearly three years.” (E-03.06.08)

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