EXHIBIT 99.1
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[TRUMP ENTERTAINMENT RESORTS LOGO]
NEWS RELEASE
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FOR IMMEDIATE RELEASE CONTACT:
Tom Hickey
Director of Corporate
Communications
(609) 347-3804
TRUMP ENTERTAINMENT RESORTS NAMES
MARK JULIANO CHIEF EXECUTIVE OFFICER
Ivanka Trump Joins the Company's Board of Directors
ATLANTIC CITY, NJ - August 2, 2007 - Trump Entertainment Resorts, Inc. (NASDAQ:
TRMP) (the "Company") today announced that Mark Juliano has been named the
Company's Chief Executive Officer, and that Ivanka M. Trump has been appointed
to the Company's Board of Directors. Both appointments are effective
immediately.
MR. JULIANO'S FIRST ORDER OF BUSINESS WILL BE TO CAPITALIZE ON THE brand's
strength and utilize his operational expertise to bolster revenue in the near
and long term.
Mr. Juliano stated, "the company has faced a variety of challenges during the
past year, but I am confident that the changes we are implementing in our
business model will show results as we move forward."
He continued, "In addition to our extensively renovated properties, we now have
the infrastructure in place to accomplish the goal of attracting new customers
and expanding our already large player base. The Company has designed a casino
revenue action plan to improve operating performance during the remainder of
2007 and beyond through customer acquisition, retention and reactivation. New
initiatives include the Trump One Card, new customer development campaigns, and
the implementation of the revenue management system and cash sales programs."
Donald J. Trump, the Chairman of the Company's Board of Directors, said, "Mark
is the right man for the job. His understanding of the gaming industry,
innovative operational and marketing techniques and impressive leadership are
exactly the right qualities needed to lead the Company."
With nearly 30 years of experience in the gaming industry, veteran executive
Mark Juliano joined the leadership team of the Company in August 2005 as Chief
Operating Officer. He has served as Interim Chief Executive Officer since July
1, 2007. Prior to joining the Company, Mr. Juliano held a wide variety of gaming
positions, including President of Caesars Palace, Las Vegas, President of
Caesars Atlantic City, and President of Caesars World Marketing Corporation.
Ivanka M. Trump currently serves as Vice President of Development and
Acquisitions for the Trump Organization, LLC. She is responsible for development
projects in the United States and abroad and participates in all aspects of real
estate development from deal evaluation, analysis and pre-development planning
to construction, marketing, operations, sales and leasing. Ms. Trump, 25, is a
graduate of the Wharton School of Finance at the University of Pennsylvania and
is a resident of New York City.
Mr. Trump continued, "Ivanka brings a fresh new perspective. Her appeal to a
younger demographic combined with her recognition as a young business leader
will be invaluable in a changing marketplace."
ABOUT TRUMP ENTERTAINMENT RESORTS, INC.
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Trump Entertainment Resorts, Inc. is a leading gaming company that owns and
operates three properties. The Company's properties are Trump Taj Mahal Casino
Resort and Trump Plaza Hotel and Casino, located on the Boardwalk in Atlantic
City, New Jersey, and Trump Marina Hotel Casino, located in Atlantic City's
Marina District. The Company is the sole vehicle through which Donald J. Trump,
the Company's Chairman and largest stockholder, conducts gaming activities and
is separate and distinct from Mr. Trump's real estate and other holdings.
PSLRA SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
AND ADDITIONAL AVAILABLE INFORMATION
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. All statements and
information concerning plans, expectations, estimates and beliefs, as well as
other statements including words such as "anticipate," "believe," "plan,"
"estimate," "expect," "intend," "will," "could," "can" and other similar
expressions, constitute forward-looking statements under the Private Securities
Litigation Reform Act of 1995. In connection with certain forward-looking
statements contained in this release and those that may be made in the future by
or on behalf of Trump Entertainment Resorts, Inc., the Company notes that there
are various factors that could cause actual results to differ materially from
those set forth in any such forward-looking statements.
The forward-looking statements contained in this release reflect the opinion of
management as of the date of this release and are qualified by, and subject to,
significant business, economic, competitive, regulatory and other uncertainties
and contingencies, all of which are difficult or impossible to predict and many
of which are beyond the control of the Company. Accordingly, there can be no
assurance that the forward-looking statements contained in this release will be
realized. Readers are hereby advised that developments subsequent to this
release are likely to cause these statements to become outdated with the passage
of time or other factors beyond the control of the Company. The Company does not
intend, however, to update the guidance provided herein prior to its next
release or unless otherwise required to do so. Readers of this release should
consider these facts in evaluating the information contained herein. In light of
the foregoing, readers of this release are cautioned not to place undue reliance
on the forward-looking statements contained herein. Additional information
concerning the potential risk factors that could affect the Company's future
performance are described from time to time in the Company's periodic reports
filed with the SEC, including, but not limited to, the Company's Annual Reports
on Form 10-K and Quarterly Reports on Form 10-Q. These reports may be viewed
free of charge on the SEC's website, www.sec.gov, or on the Company's website,
www.trumpcasinos.com.
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