December 27, 2014 12:36 PM ET

Hotels, Restaurants and Leisure

Company Overview of Trump Entertainment Resorts, Inc.

Company Overview

Trump Entertainment Resorts, Inc. engages in the ownership and operation of casino resort properties in Atlantic City, New Jersey. It owns and operates the Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, both located on the Boardwalk in Atlantic City. The company’s casino resorts operate approximately 5,700 slot machines, 280 table games, and 2,700 hotel rooms. Trump Entertainment Resorts, Inc. was founded in 1995 and is based in Atlantic City, New Jersey. On September 9, 2014, Trump Entertainment Resorts, Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.

1000 Boardwalk at Virginia Avenue

Atlantic City, NJ 08401

United States

Founded in 1995

3,700 Employees

Phone:

609-449-5534

Key Executives for Trump Entertainment Resorts, Inc.

Chairman and Chief Executive Officer
Age: 54
Chief Financial Officer
Age: 48
Senior Vice President of Marketing Operations
Vice President of Hotel Operations
Executive Director of Far East Marketing
Compensation as of Fiscal Year 2014.

Trump Entertainment Resorts, Inc. Key Developments

Trump Entertainment Resorts to Close Trump Taj Mahal Casino in Atlantic City in December

Trump Entertainment Resorts has threatened to close the Trump Taj Mahal casino in Atlantic City, N.J. on December 12, 2014. The issue is a union appeal of a bankruptcy court ruling that cancelled the pension and healthcare plans for workers. If the union continues, management says it will close. A closure of the casino would leave more than 3,000 people out of work. With recent closures at Revel, Showboat and Trump Plaza, roughly 6,100 have lost their jobs.

Carl Icahn Plans To Buy Trump Taj Mahal

Carl Icahn is considering spending $100 million to save The Trump Taj Mahal casino from closing. Icahn is willing to consider the bailout "if and only if" he gets big givebacks from the casino workers' union, steep tax breaks from Atlantic City and county, and $25 million in funds from a New Jersey agency. Trump Entertainment Resorts, Inc. was presented a letter from Icahn's attorney, Allan Brilliant saying "Notwithstanding the fact that putting more money into the Taj is a questionable business decision, we share the company's desire to see the Taj Mahal remain open and preserve the jobs of the company's employees. Failing to get the concessions would make it impossible to operate a viable company at this time." Icahn was not available for comment.

Donald Reportedly Considers To Acquire Trump

Trump Entertainment Resorts, Inc. is reportedly considering buying back his Trump Entertainment Resorts, Inc. a day after it filed for Chapter 11. Trump plans to close the Trump Plaza casino in Atlantic City next week, and will shutter the Taj Mahal by November 13, 2014, unless it can come to an agreement with its union workers. Those closures would be the fourth and fifth casinos to cease operations in the New Jersey city this year.

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Recent Private Companies Transactions

Type
Date
Target
Bankruptcy
September 9, 2014
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