================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------
FORM 11-K
ANNUAL REPORT
---------------
Pursuant to Section 15 (d)
of the Securities Exchange Act of 1934
for the year ended December 31, 1998
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
----------------------------------------
(Full title of the Plan)
TRUMP HOTELS AND CASINO RESORTS, INC.
------------------------------------------------------------
(Name of Issuer of the securities held pursuant to the Plan)
2500 Boardwalk
Atlantic City, New Jersey 08401
(Address of principal executive office)
================================================================================
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
----------------------------------------
(FORMERLY TRUMP CASTLE HOTEL & CASINO SAVINGS PLAN)
---------------------------------------------------
FINANCIAL STATEMENTS AS OF DECEMBER 31, 1998 AND 1997
-----------------------------------------------------
TOGETHER WITH
-------------
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
----------------------------------------
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
----------------------------------------
(formerly Trump Castle Hotel & Casino Savings Plan)
---------------------------------------------------
INDEX
-----
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
FINANCIAL STATEMENTS:
Statements of Net Assets Applicable to Participants' Equity as of
December 31, 1998 and 1997
Statement of Changes in Net Assets Applicable to Participants' Equity
for the Year Ended December 31, 1998
Notes to Financial Statements
SUPPLEMENTAL SCHEDULES:
I -- Item 27a - Schedule of Assets Held for Investment Purposes as of
December 31, 1998
II -- Item 27d - Schedule of Reportable Transactions for the Year Ended
December 31, 1998
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
----------------------------------------
To the Benefits Committee of the
Trump Marina Hotel & Casino Savings Plan:
We have audited the accompanying statements of net assets applicable to
participants' equity of the Trump Marina Hotel & Casino Savings Plan (formerly
Trump Castle Hotel & Casino Savings Plan) (the "Plan") as of December 31, 1998
and 1997, and the related statement of changes in net assets applicable to
participants' equity for the year ended December 31, 1998. These financial
statements and the schedules referred to below are the responsibility of the
Plan's management. Our responsibility is to express an opinion on these
financial statements and schedules based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets applicable to participants' equity of the
Plan as of December 31, 1998 and 1997, and the changes in its net assets
applicable to participants' equity for the year ended December 31, 1998, in
conformity with generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets held
for investment purposes and reportable transactions are presented for the
purpose of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The fund information in the
statements of net assets applicable to participants' equity and the statement of
changes in net assets applicable to participants' equity is presented for
purposes of additional analysis rather than to present the net assets applicable
to participants' equity and the changes in net assets applicable to
participants' equity of each fund. The supplemental schedules and fund
information have been subjected to the auditing procedures applied in the audits
of the basic financial statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements taken as a
whole.
ARTHUR ANDERSEN LLP
Roseland, New Jersey
June 10, 1999
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
----------------------------------------
(formerly Trump Castle Hotel & Casino Savings Plan)
---------------------------------------------------
STATEMENTS OF NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
-----------------------------------------------------------
AS OF DECEMBER 31, 1998 AND 1997
--------------------------------
1998 1997
------------- -------------
ASSETS:
Investments at market value (Notes 1 and 3)-
Pacific Fund $2,001,968 $2,114,825
Federal Securities Fund 2,770,559 2,434,240
Capital Fund 6,850,539 6,598,997
Basic Value Fund 11,317,212 9,743,550
Growth Fund 3,505,244 5,657,165
Global Allocation Fund 1,444,312 1,520,865
Templeton Foreign Fund 246,683 210,316
MFS Emerging Growth Fund 1,013,754 344,258
Davis New York Venture Fund 2,596,191 865,109
Delaware Trend Fund 160,417 31,474
Trump Hotels & Casino Resorts, Inc. Common Stock 566,473 315,949
Retirement Preservation Trust Fund 313,708 146,143
Ready Assets Trust Fund 4,624,245 4,196,054
Participants' Loans Receivable 4,543,880 4,424,600
Other 6,453 9,594
Contributions Receivable from Participants 183,696 245,022
------------- -------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY $42,145,334 $38,858,161
============= =============
The accompanying notes to financial statements are an integral part of these statements.
Pacific
Fund
-------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $2,114,825
-------------
Contributions-
Participants 233,039
Plan Sponsor (net of forfeitures) 68,341
Participant Rollovers 0
-------------
Total contributions 301,380
Dividend income 81,468
Interest income 26,398
Realized/unrealized appreciation (depreciation) of investments 83,296
Distributions to participants (148,232)
Loans issued to participants (113,414)
Loan principal repayments 110,296
Transfers from (to) related plans (34,668)
Interfund transfers (net) (419,381)
Administrative expenses 0
-------------
Increase (decrease) in net assets (112,857)
-------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $2,001,968
=============
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
----------------------------------------
(formerly Trump Castle Hotel & Casino Savings Plan)
---------------------------------------------------
STATEMENT OF CHANGES IN NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
---------------------------------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1998
------------------------------------
Federal
Securities Capital Basic Value Growth
Fund Fund Fund Fund
------------ ---------- ----------- ----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $2,434,240 $6,598,997 $9,743,550 $5,657,165
------------ ---------- ----------- ----------
Contributions-
Participants 300,799 565,014 797,134 644,129
Plan Sponsor (net of forfeitures) 99,585 169,633 236,109 185,834
Participant Rollovers 0 0 4,533 0
------------ ---------- ----------- ----------
Total contributions 400,384 734,647 1,037,776 829,963
Dividend income 151,551 433,340 886,580 73,024
Interest income 31,089 65,657 97,018 52,489
Realized/unrealized appreciation (depreciation) of investments 8,605 (58,386) 205,741 (1,249,303)
Distributions to participants (318,820) (547,539) (679,738) (335,354)
Loans issued to participants (173,337) (383,694) (486,239) (253,982)
Loan principal repayments 138,840 260,589 371,245 221,800
Transfers from (to) related plans (28,600) 6,213 30,502 (10,100)
Interfund transfers (net) 126,607 (259,285) 110,777 (1,480,458)
Administrative expenses 0 0 0 0
------------ ---------- ----------- ----------
Increase (decrease) in net assets 336,319 251,542 1,573,662 (2,151,921)
------------ ---------- ----------- ----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $2,770,559 $6,850,539 $11,317,212 $3,505,244
============ ========== ============ ===========
The accompanying notes to financial statements are an integral part of this statement.
MPS Davis
Global Templeton Emerging New York Delaware
Allocation Foreign Growth Venture Trend
Fund Fund Fund Fund Fund
---------- ---------- ---------- ---------- ----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $1,520,865 $210,316 $344,258 $865,109 $31,474
---------- ---------- ---------- ---------- ----------
Contributions-
Participants 202,710 70,388 140,057 317,633 31,192
Plan Sponsor (net of forfeitures) 62,513 22,835 46,959 99,268 9,472
Participant Rollovers 0 0 4,533 555 0
---------- ---------- ---------- ---------- ----------
Total contributions 265,223 93,223 191,549 417,456 40,664
Dividend income 168,394 24,400 8,788 56,662 17,724
Interest income 16,439 4,659 7,867 23,301 1,254
Realized/unrealized appreciation (depreciation) of investments (159,052) (43,838) 110,096 196,048 (2,357)
Distributions to participants (90,579) (50,120) (38,032) (117,667) (6,268)
Loans issued to participants (86,500) (43,922) (49,628) (126,443) (17,437)
Loan principal repayments 65,386 20,248 35,222 134,567 5,408
Transfers from (to) related plans (5,339) 3,811 (360) 76,388 (854)
Interfund transfers (net) (250,525) 27,906 403,994 1,070,770 90,809
Administrative expenses 0 0 0 0 0
---------- ---------- ---------- ---------- ----------
Increase (decrease) in net assets (76,553) 36,367 669,496 1,731,082 128,943
---------- ---------- ---------- ---------- ----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $1,444,312 $246,683 $1,013,754 $2,596,191 $160,417
========== ========== ========== ========== ==========
The accompanying notes to financial statements are an integral part of this statement.
Trump Hotels
& Casino
Resorts, Inc. Retirement Ready Participants'
Common Preservation Assets Loans
Stock Trust Fund Trust Fund Receivable
------------ ------------ ---------- -------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, $315,949 $146,143 $4,196,054 $4,424,600
beginning of year ------------ ------------ ---------- -------------
Contributions- 54,044 40,110 512,387 0
Participants 14,466 15,185 102,604 0
Plan Sponsor (net of forfeitures) 0 0 555 0
Participant Rollovers ------------ ------------ ---------- -------------
Total contributions 68,510 55,295 615,546 0
Dividend income 0 14,185 223,363 0
Interest income 9,048 872 57,040 0
Realized/unrealized appreciation (depreciation) of investments (230,517) 0 0 0
Distributions to participants (32,321) (67,924) (335,810) (307,679)
Loans issued to participants (14,637) (24,364) (334,452) 2,108,049
Loan principal repayments 32,141 4,126 262,425 (1,662,293)
Transfers from (to) related plans (1,168) 99 (22,422) (18,779)
Interfund transfers (net) 419,468 185,276 (25,903) (55)
Administrative expenses 0 0 (11,596) 37
------------ ------------ ---------- -------------
Increase (decrease) in net assets 250,524 167,565 428,191 119,280
------------ ------------ ---------- -------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $566,473 $313,708 $4,624,245 $4,543,880
============ ============ =========== =============
The accompanying notes to financial statements are an integral part of this statement.
Other Total
----------- ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $254,616 $38,858,161
----------- ------------
Contributions-
Participants (61,616) 3,847,020
Plan Sponsor (net of forfeitures) 0 1,132,804
Participant Rollovers 0 10,176
----------- ------------
Total contributions (61,616) 4,990,000
Dividend income 0 2,139,479
Interest income 1,767 394,898
Realized/unrealized appreciation (depreciation) of investments 0 (1,139,667)
Distributions to participants (6,794) (3,082,877)
Loans issued to participants 0 0
Loan principal repayments 0 0
Transfers from (to) related plans 2,000 (3,277)
Interfund transfers (net) 0 0
Administrative expenses 176 (11,383)
----------- ------------
Increase (decrease) in net assets (64,467) 3,287,173
----------- ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $190,149 $42,145,334
============ ============
The accompanying notes to financial statements are an integral part of this statement.
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
----------------------------------------
(formerly Trump Castle Hotel & Casino Savings Plan)
---------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(1) SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES:
----------------------
Basis of Accounting-
--------------------
The accompanying financial statements of the Trump Marina Hotel & Casino
Savings Plan (formerly Trump Hotel & Casino Savings Plan) (the "Plan")
have been prepared on the accrual basis of accounting.
Plan Expenses-
--------------
Expenses related to the administration of the Plan have been paid by
Trump Castle Associates, L.P. (the "Plan Sponsor"). These costs
represent trustee fees and professional services and amounted to
approximately $32,000 in 1998.
Investments-
------------
The investments included in the statements of net assets applicable to
participants' equity are stated at market value. Market value, which is
equivalent to current value, is the unit valuation of the security at
the plan year-end as determined by Merrill Lynch Trust Company, the
trustee of the Plan (the "Trustee"). Accounting records are maintained
on the accrual basis, investment transactions are recorded on the trade
date basis and gains and losses are calculated based upon an aggregate
participant cost that is maintained on an average unit cost basis.
Use of Estimates-
-----------------
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amount of net assets and disclosure
of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.
Reclassifications-
------------------
Certain reclassifications have been made to prior year financial
statements to conform to the current year presentation.
(2) PLAN DESCRIPTION:
-----------------
The following description of the Plan provides only general information.
Participants should refer to the Plan document for a more complete
description of the Plan's provisions.
-2-
General-
--------
The Plan is a 401(k) Savings Plan, which was established by the Plan
Sponsor and became effective on September 1, 1986. All full or part-time
non-union employees become eligible for participation in the Plan on the
enrollment date immediately following the completion of 12 months of
service and the attainment of age 18.
The Plan is administered by a committee appointed by the Plan Sponsor
(the "Plan Administrator"). Merrill Lynch Trust Company was appointed as
the trustee of the Plan by the Plan Administrator.
Contributions-
--------------
Participants-
-------------
Non-highly compensated participants, as defined, are eligible to
voluntarily contribute to the Plan up to 15% of their annual
compensation (effective January 1, 1999, 20% of annual compensation),
as defined. Highly compensated participants, as defined, are eligible
to voluntarily contribute to the Plan up to 7% of their annual
compensation, as defined. Tax deferred contributions are subject to a
limit by the Internal Revenue Code. The 1998 limit was $10,000 per
participant. Contributions to the Plan are invested by the Trustee, as
designated by the participant, in increments of 5%.
Plan Sponsor-
-------------
The Plan Sponsor contributes to the Plan 50% of each participant's
contributions, not to exceed 3% of the participant's annual
compensation, as defined.
Participant Rollovers-
----------------------
The Plan permits eligible participants, as defined, to rollover cash or
other property acceptable to the Plan Administrator from another
qualified plan in addition to qualified voluntary participant
contributions.
Distributions to Participants-
------------------------------
Each participant has a fully vested interest in the amount of his or
her contributions together with the allocable Plan earnings.
Contributions from the Plan Sponsor vest based on the vesting schedule
described below. The full value of the participant's vested interest in
his or her account in the Plan will be distributed upon termination of
the participant's employment. The normal form of payment is by lump
sum; however, if a participant's vested benefit from all contributions
exceeds $5,000, a participant has the right to receive payment in equal
periodic monthly, quarterly, semi-annual or annual installments over a
period not to exceed ten years.
A participant may also withdraw all or part of his or her account upon
attainment of age 59-1/2 or financial hardship, as defined in the Plan.
Upon termination of employment prior to eligibility for retirement, a
participant is eligible to receive the vested balance in his or her
account. There were no payments due to participants who have requested
to withdraw their funds prior to December 31, 1998 or 1997.
-3-
Vesting-
--------
Voluntary contributions are fully vested at all times and are not
subject to forfeiture.
The Plan Sponsor's contributions vest based upon the participant's
years of continuous service as follows-
Years of Continuous Service Percentage Vested
--------------------------- ---------------------
Less than two years 0%
Two years 25%
Three years 50%
Four years 75%
Five years or more 100%
Forfeitures-
------------
The portion of a former participant's account which is not distributed
because of the vesting provision will reduce the amount of the Plan
Sponsor's future contributions. During 1998, $62,939 was used to reduce
Plan Sponsor contributions. As of December 31, 1998 and 1997, $82 and
$47 were available to reduce future Plan Sponsor contributions,
respectively.
Loans-
------
The Plan permits participants to borrow from their accounts at terms
established by the Plan Administrator. Participants may borrow up to
the lesser of $50,000 or 50% of their vested account balance for
specific reasons, as defined by the Plan. Each loan is secured by the
borrower's vested interest in the Plan and is subject to other
requirements, as defined. Interest on loans is charged at a rate that
is comparable to similar loans made by commercial lenders. Loans
outstanding as of December 31, 1998 had interest rates ranging from
8.75% to 9.50%. Loan repayment terms range up to five years (fifteen
years if the loan was used to purchase a primary residence). A small
administrative fee is required to process all loans.
(3) INVESTMENTS:
------------
Participants can invest their funds in thirteen available investment
vehicles as described below-
Mutual Funds-
-------------
PACIFIC FUND - An overseas fund investing in equities of corporations
based in the Far East and Western Pacific geographic regions. This fund
provides a long-term objective of capital appreciation.
FEDERAL SECURITIES FUND - A securities fund investing in United States
Government agencies seeking a high current return.
CAPITAL FUND - Mutual fund investing in equity securities of
undervalued companies with the objective of seeking the highest total
investment return consistent with prudent risk.
BASIC VALUE FUND - Mutual fund investing in equity and debt securities
of companies with minimum financial benchmarks. This fund's objective
is to seek capital appreciation.
-4-
GROWTH FUND - Mutual fund investing in equity securities with the
objective of capital appreciation.
GLOBAL ALLOCATION FUND - Mutual fund investing in United States and
foreign equity, debt and money market securities with the objective of
capital appreciation.
TEMPLETON FOREIGN FUND - Mutual fund investing in virtually any type of
security in any country outside of the United States, in developed or
emerging markets. The fund's objective is long-term capital growth.
MFS EMERGING GROWTH FUND - Mutual fund investing in small and medium
sized companies with growth rates expected to be well above the growth
rate of the overall economy and the rate of inflation.
DAVIS NEW YORK VENTURE FUND - Mutual fund investing primarily in equity
securities of United States and foreign companies with the objective of
capital appreciation.
DELAWARE TREND FUND - Mutual fund investing in securities of
financially strong companies with the objective of achieving a moderate
return with limited risk.
Common Stock-
-------------
TRUMP HOTELS & CASINO RESORTS, INC. ("THCR") COMMON STOCK - This is the
common stock of the holding company that owns Trump Plaza Hotel &
Casino, Trump Taj Mahal Hotel & Casino, Trump Marina Hotel & Casino and
Trump Indiana Inc.
Money Market Funds-
-------------------
RETIREMENT PRESERVATION TRUST FUND - Fund investing in money market
funds that seek the highest current income, consistent with liquidity
and stability of principal, but investing in short-term money market
instruments.
READY ASSETS TRUST FUND - Fund investing in money market funds.
(4) TAX STATUS:
-----------
The Plan obtained its latest determination letter on August 18, 1994,
which covered all amendments through January 1, 1993, in which the
Internal Revenue Service stated that the Plan, as then designed, was in
compliance with the applicable requirements of the Internal Revenue Code.
The Plan has been amended since receiving the determination letter.
However, the Plan Administrator believes that the Plan is currently
designed and being operated in compliance with the applicable
requirements of the Internal Revenue Code. Therefore, they believe that
the Plan was qualified and the related trust was tax exempt as of the
financial statement date.
(5) PLAN TERMINATION:
-----------------
While the Plan Sponsor has not expressed any intent to terminate the
Plan, the Plan Sponsor may do so at any time subject to the provisions of
the Employee Retirement Income Security Act of 1974. In the event of
termination, each participant is entitled to the value of his or her
separate account.
-5-
(6) RELATED PARTY
TRANSACTIONS:
-------------
Certain Plan investments are shares of mutual funds managed by Merrill
Lynch. Merrill Lynch Trust Company is the Trustee as defined by the Plan
and, therefore, these transactions qualify as party-in-interest.
Certain Plan investments include shares of THCR common stock ("Common
Stock") and, therefore, these transactions qualify as party-in-interest.
As of December 31, 1998 and 1997, the Plan holds Common Stock with a
market value of $566,473 and $315,949, respectively. During the year
ended December 31, 1998, Common Stock was acquired at a cost of $929,277;
and Common Stock was sold with an original cost basis of $443,670.
The Plan Sponsor has sister companies that also sponsor similar Savings
Plans. Transactions between the Plan and plans sponsored by the sister
companies are as follows-
Transfers out of the Trump Marina Hotel & Casino Savings
Plan, net ($3,277)
Transfers out of the Trump Taj Mahal Hotel & Casino Savings
Plan, net (73,313)
Transfers out of the Trump Plaza Hotel & Casino Savings Plan,
net (46,372)
Transfers to the Trump Casino Services Savings Plan, net 21,277
Transfers to the Trump Indiana Savings Plan, net 101,685
-----------
Net Related Plan Transfers $ 0
===========
(7) SUBSEQUENT EVENT:
-----------------
During 1999, the Plan will merge with the Trump Taj Mahal Hotel & Casino
Savings Plan ("Taj Plan"). The Taj Plan will be renamed the Trump Capital
Accumulation Plan.
SCHEDULE I
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
----------------------------------------
(formerly Trump Castle Hotel & Casino Savings Plan)
---------------------------------------------------
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
----------------------------------------------------------
AS OF DECEMBER 31, 1998
-----------------------
EMPLOYER IDENTIFICATION #22-2608426, PLAN NUMBER 001
----------------------------------------------------
(c) Description of investment
(b) Identity of issue, including maturity date, rate of
borrower, lessor or interest, collateral, par or (e) Market
(a) similar party maturity value (d) Cost Value
- --- ------------------- ---------------------------------- ----------- ------------
* Merrill Lynch Pacific Fund, Overseas Equity
Securities, 113,490 units of
participation $2,242,245 $2,001,968
* Merrill Lynch Federal Securities Fund, U. S.
Government Agencies, 282,999
units of participation 2,732,643 2,770,559
* Merrill Lynch Capital Fund, Equity Securities,
199,086 units of participation 6,138,768 6,850,539
* Merrill Lynch Basic Value Fund, Equity and Debt
Securities, 297,665 units of
participation 9,120,211 11,317,212
* Merrill Lynch Growth Fund, Equity Securities,
162,959 units of participation 4,088,948 3,505,244
* Merrill Lynch Global Allocation Fund, U. S. and
Foreign Equity and Debt
Securities, 114,537 units of
participation 1,614,504 1,444,312
Templeton Funds, Templeton Foreign Fund, Foreign
Inc. Equity and Debt Securities,
29,402 units of participation 294,084 246,683
MFS Funds MFS Emerging Growth Fund, Equity
Securities, 22,730 units of
participation 885,692 1,013,754
Davis Funds, Inc. Davis New York Venture Fund,
Foreign Equity Securities,
103,806 units of participation 2,411,573 2,596,191
Delaware Group Delaware Trend Fund, Equity
Securities, 9,640 units of
participation 158,545 160,417
----------- ------------
Total investment in mutual funds 29,687,216 31,906,879
----------- -----------
-2-
SCHEDULE I
(continued)
(c) Description of investment
(b) Identity of issue, including maturity date, rate of
borrower, lessor or interest, collateral, par or (e) Market
(a) similar party maturity value (d) Cost Value
- --- ------------------- ---------------------------------- ----------- ------------
** Trump Hotels & Trump Hotels & Casino Resorts,
Casino Resorts, Inc. Common Stock, 151,060
Inc. shares $935,627 $566,473
----------- ------------
* Merrill Lynch Retirement Preservation Trust
Fund, Money Market Funds,
313,708 units of participation 313,708 313,708
* Merrill Lynch Ready Assets Trust Fund, Money
Market Funds, 4,624,245 units
of participation 4,624,245 4,624,245
----------- ------------
Total investment in Money Market Funds 4,937,953 4,937,953
----------- ------------
Participants' Interest rates ranging from 8.75%
loans to 9.50% and maturities ranging
from 1999 through 2013 4,543,880 4,543,880
----------- ------------
$40,104,676 $41,955,185
=========== ============
*Denotes party-in-interest
**Denotes related party
The accompanying notes to financial statements are an integral part of this schedule.
SCHEDULE II
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
----------------------------------------
(formerly Trump Castle Hotel & Casino Savings Plan)
---------------------------------------------------
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
----------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1998 (A)
----------------------------------------
EMPLOYER IDENTIFICATION #22-2608426, PLAN NUMBER 001
----------------------------------------------------
(c) Purchase
(a) Identity of Party Involved (b) Description of Asset Price (d) Selling Price
- ----------------------------------- ---------------------------------------------------- --------------- ---------------------
Merrill Lynch Pacific Fund-
384 Purchases $1,286,862 N/A
410 Sales N/A $1,462,932
Merrill Lynch Federal Securities Fund-
407 Purchases 1,240,362 N/A
494 Sales N/A 855,971
Merrill Lynch Capital Fund-
485 Purchases 2,223,501 N/A
570 Sales N/A 1,889,190
Merrill Lynch Basic Value Fund-
566 Purchases 4,950,175 N/A
598 Sales N/A 3,510,686
Merrill Lynch Growth Fund-
478 Purchases 2,044,467 N/A
603 Sales N/A 2,895,863
Davis Funds, Inc. Davis New York Venture Fund-
383 Purchases 2,169,017 N/A
306 Sales N/A 639,780
Merrill Lynch Retirement Preservation Trust Fund-
223 Purchases 1,184,223 N/A
98 Sales N/A 1,016,658
Merrill Lynch Ready Assets Trust Fund-
682 Purchases 3,703,004 N/A
476 Sales N/A 3,274,813
Merrill Lynch Loan Fund-
202 Purchases 2,129,007 N/A
137 Sales N/A 2,009,727
(h) Current Value of Asset (i) Net Gain
(a) Identity of Party Involved (g) Cost of Asset on Transaction Date (Loss)
- ----------------------------------- --------------------- ------------------------------ ---------------
Merrill Lynch $1,286,862 $1,286,862 N/A
1,602,856 1,462,932 ($139,924)
Merrill Lynch 1,240,362 1,240,362 N/A
845,636 855,971 10,335
Merrill Lynch 2,223,501 2,223,501 N/A
1,709,270 1,889,190 179,920
Merrill Lynch 4,950,175 4,950,175 N/A
3,038,496 3,510,686 472,190
Merrill Lynch 2,044,467 2,044,467 N/A
2,922,782 2,895,863 (26,919)
Davis Funds, Inc. 2,169,017 2,169,017 N/A
633,630 639,780 6,150
Merrill Lynch 1,184,223 1,184,223 N/A
1,016,658 1,016,658 0
Merrill Lynch 3,703,004 3,703,004 N/A
3,274,813 3,274,813 0
Merrill Lynch 2,129,007 2,129,007 N/A
2,009,727 2,009,727 0
(A) Reportable transactions are those purchases and sales of the same security
which, individually or in the aggregate, exceed 5% of Plan
assets at January 1, 1998.
The accompanying notes to financial statements are an integral part of this schedule.