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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 period ended August 31, 1999
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)
1000 Boardwalk
Atlantic City, New Jersey 08401
(Address of principal executive office)
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TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
FINANCIAL STATEMENTS
AS OF AUGUST 31, 1999 AND DECEMBER 31, 1998
TOGETHER WITH AUDITORS' REPORT
INDEX
Page
----------
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS 1
FINANCIAL STATEMENTS:
Statements of Net Assets Applicable to Participants' Equity as of August 31, 1999 and December 31,
1998 2
Statement of Changes in Net Assets Applicable to Participants' Equity for the Period Ended August 3
31, 1999
NOTES TO FINANCIAL STATEMENTS 4 - 9
SUPPLEMENTAL SCHEDULE:
I -- Item 27d - Schedule of Reportable Transactions for the Period Ended August 31, 1999 10
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 (the
"Plan") as of August 31, 1999 and December 31, 1998, and the related statement
of changes in net assets applicable to participants' equity for the period from
January 1, 1999 through August 31, 1999. These financial statements and the
schedule referred to below are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial statements and
schedule 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 August 31, 1999 and December 31, 1998, and the changes in its net
assets applicable to participants' equity for the period from January 1, 1999
through August 31, 1999, 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 schedule of reportable
transactions is presented for the purpose of additional analysis and is not a
required part of the basic financial statements but is 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 schedule 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.
/s/ ARTHUR ANDERSEN LLP
Roseland, New Jersey
December 24, 1999
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
STATEMENTS OF NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
As of August 31, 1999 and December 31, 1998
August 31, 1999 December 31, 1998
------------------- ---------------------
ASSETS:
Investments at market value (Notes 1 and 3)-
Merrill Lynch Pacific Fund $ - $ 2,001,968
Pimco Total Return Fund - -
Merrill Lynch Federal Securities Fund - 2,770,559
Merrill Lynch Capital Fund - 6,850,539
Merrill Lynch Basic Value Fund - 11,317,212
Merrill Lynch Growth Fund - 3,505,244
Merrill Lynch Global Allocation Fund - 1,444,312
Templeton Foreign Fund - 246,683
MFS Emerging Growth Fund - 1,013,754
Davis New York Venture Fund - 2,596,191
Delaware Trend Fund - 160,417
Merrill Lynch Equity Index Trust Fund - -
Federated High Income Bond Fund - -
MFS Utilities Fund - -
Massachusetts Investors Growth Fund - -
Massachusetts Investors Trust Fund - -
Merrill Lynch Healthcare Fund - -
Alliance Premier Growth Fund - -
Seligman Communications Fund - -
Davis Series Financial Fund - -
GAM International Fund - -
Pioneer Growth Shares Fund - -
Merrill Lynch Eurofund Fund - -
Trump Hotels & Casino Resorts, Inc. Common Stock - 566,473
Merrill Lynch Retirement Preservation Trust Fund - 313,708
Merrill Lynch Ready Assets Trust Fund - 4,624,245
Participants' Loans Receivable - 4,543,880
Other - 6,453
Contributions Receivable from Participants - 183,696
-------- --------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY $ - $42,145,334
======== ==============
The accompanying notes to financial statements are an integral part of these
statements.
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
FOR THE PERIOD ENDED AUGUST 31, 1999
Merrill
Lynch
Merrill Pimco Federal Merrill
Lynch Total Return Securities Lynch
Pacific Fund Fund Fund Capital Fund
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of period $ 2,001,968 $ -- $ 2,770,559 $ 6,850,539
------------ ------------ ------------ ------------
Contributions-
Participants 136,364 250 191,297 322,166
Plan Sponsor (net of forfeitures) 31,151 59 48,372 72,831
Participant Rollovers -- -- -- --
------------ ------------ ------------ ------------
Total contributions 167,515 309 239,669 394,997
Dividend income -- 25 105,001 281,656
Interest income 16,560 -- 19,259 38,861
Realized/unrealized appreciation (depreciation)
of investments 658,672 (38) (122,923) (61,666)
Distributions to participants (111,775) -- (223,190) (261,441)
Loans issued to participants (103,136) -- (111,329) (237,059)
Loan principal repayments 77,760 -- 139,143 171,727
Transfers from (to) related plans (9,524) -- (580) 8,326
Interfund transfers (net) 4,455 967 (259,998) (621,563)
Administrative expenses -- -- 35 35
Merger into Trump Taj Mahal Hotel & Casino
Savings Plan (2,702,495) (1,263) (2,555,646) (6,564,412)
------------ ------------ ------------ ------------
Decrease in net assets (2,001,968) -- (2,770,559) (6,850,539)
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end
of period $ -- $ -- $ -- $ --
============ ============ ============ ============
Merrill Merrill
Lynch Lynch
Basic Merrill Global
Value Lynch Allocation Templeton
Fund Growth Fund Fund Foreign Fund
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of period $ 11,317,212 $ 3,505,244 $ 1,444,312 $ 246,683
------------ ------------ ------------ ------------
Contributions-
Participants 511,908 311,495 104,598 38,516
Plan Sponsor (net of forfeitures) 113,547 71,232 24,868 9,649
Participant Rollovers -- -- -- --
------------ ------------ ------------ ------------
Total contributions 625,455 382,727 129,466 48,165
Dividend income 787,698 -- 40,554 --
Interest income 63,151 24,185 10,776 2,542
Realized/unrealized appreciation (depreciation)
of investments 467,871 84,535 236,958 61,307
Distributions to participants (499,363) (124,386) (98,436) (6,362)
Loans issued to participants (370,819) (118,682) (75,864) (19,247)
Loan principal repayments 278,467 115,880 51,937 15,009
Transfers from (to) related plans 16,322 64,773 (19,854) 4,853
Interfund transfers (net) (1,102,443) (949,934) (300,162) (33,385)
Administrative expenses 245 714 35 --
Merger into Trump Taj Mahal Hotel & Casino
Savings Plan (11,583,796) (2,985,056) (1,419,722) (319,565)
------------ ------------ ------------ ------------
Decrease in net assets (11,317,212) (3,505,244) (1,444,312) (246,683)
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end
of period $ -- $ -- $ -- $ --
============ ============ ============ ============
Merrill
Lynch Federated
MFS Emerging Davis New York Delaware Trend Equity Index High Income
Growth Fund Venture Fund Fund Trust Fund Bond Fund
------------ ------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of period $ 1,013,754 $ 2,596,191 $ 160,417 $ -- $ --
------------ ------------ ------------ ------------ ------------
Contributions-
Participants 135,175 297,783 27,624 24,241 24
Plan Sponsor (net of forfeitures) 31,777 63,397 6,000 3,687 --
Participant Rollovers -- -- -- 2,485 --
------------ ------------ ------------ ------------ ------------
Total contributions 166,952 361,180 33,624 30,413 24
Dividend income -- -- 16,663 -- 18
Interest income 9,188 19,280 1,551 994 --
Realized/unrealized appreciation (depreciation)
of investments 88,571 233,642 16,804 (1,570) (48)
Distributions to participants (125,745) (89,726) (6,523) -- --
Loans issued to participants (59,030) (122,031) (5,867) (22,709) --
Loan principal repayments 46,267 113,802 8,365 7,862 24
Transfers from (to) related plans (4,750) 31,884 547 -- --
Interfund transfers (net) 198,444 371,714 1,635 335,904 1,579
Administrative expenses 584 1,123 55 -- --
Merger into Trump Taj Mahal Hotel & Casino
Savings Plan (1,334,235) (3,517,059) (227,271) (350,894) (1,597)
------------ ------------ ------------ ------------ ------------
Decrease in net assets (1,013,754) (2,596,191) (160,417) -- --
------------ ------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end
of period $ -- $ -- $ -- $ -- $ --
============ ============ ============ ============ ============
The accompanying notes to financial statements are an integral part of this
statement.
Massachusetts
MFS Massachusetts Investors Merrill
Utilities Investors Growth Trust Lynch
Fund Fund Fund Healthcare Fund
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of period $ -- $ -- $ -- $ --
------------ ------------ ------------ ------------
Contributions-
Participants 2,961 8,050 3,778 4,655
Plan Sponsor (net of forfeitures) 597 1,809 586 959
Participant Rollovers -- -- -- --
------------ ------------ ------------ ------------
Total contributions 3,558 9,859 4,364 5,614
Dividend income 381 -- 41 2,627
Interest income 87 1,046 45 391
Realized/unrealized appreciation (depreciation)
of investments 1,501 1,065 (2,216) (1,307)
Distributions to participants -- (348) (483) --
Loans issued to participants -- (2,619) (201) (228)
Loan principal repayments 1,244 2,584 406 2,728
Transfers from (to) related plans -- -- -- --
Interfund transfers (net) 49,274 156,413 64,664 62,547
Administrative expenses -- -- -- --
Merger into Trump Taj Mahal Hotel & Casino
Savings Plan (56,045) (168,000) (66,620) (72,372)
------------ ------------ ------------ ------------
Decrease in net assets -- -- -- --
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end
of period $ -- $ -- $ -- $ --
============ -=========== ============ ============
Alliance
Premier Seligman GAM
Growth Communications Davis Series International
Fund Fund Financial Fund Fund
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of period $ -- $ -- $ -- $ --
------------ ------------ ------------ ------------
Contributions-
Participants 23,855 6,919 2,966 772
Plan Sponsor (net of forfeitures) 4,659 1,193 768 67
Participant Rollovers -- -- -- --
------------ ------------ ------------ ------------
Total contributions 28,514 8,112 3,734 839
Dividend income -- -- -- --
Interest income 1,438 362 174 --
Realized/unrealized appreciation (depreciation)
of investments (2,458) 20,604 (4,998) (387)
Distributions to participants -- -- (337) --
Loans issued to participants (1,274) (2,156) (2,501) --
Loan principal repayments 4,282 3,863 1,513 --
Transfers from (to) related plans -- -- -- --
Interfund transfers (net) 612,115 194,318 87,753 6,012
Administrative expenses -- -- -- --
Merger into Trump Taj Mahal Hotel & Casino
Savings Plan (642,617) (225,103) (85,338) (6,464)
------------ ------------ ------------ ------------
Decrease in net assets -- -- -- --
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end
of period $ -- $ -- $ -- $ --
============ ============ ============ ============
Merrill
Lynch
Merrill Trump Hotels Retirement
Pioneer Growth Lynch & Casino Preservation
Shares Eurofund Resorts, Inc. Trust
Fund Fund Common Stock Fund
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of period $ -- $ -- $ 566,473 $ 313,708
------------ ------------ ------------ ------------
Contributions-
Participants 25,939 1,497 28,799 51,639
Plan Sponsor (net of forfeitures) 4,662 279 5,391 13,065
Participant Rollovers -- -- -- --
------------ ------------ ------------ ------------
Total contributions 30,601 1,776 34,190 64,704
Dividend income -- -- -- 23,480
Interest income 976 44 4,744 2,785
Realized/unrealized appreciation (depreciation)
of investments (38,559) 1,600 382,141 --
Distributions to participants (1,003) -- (39,607) (24,088)
Loans issued to participants (4,038) -- (11,574) (35,043)
Loan principal repayments 5,916 25 20,076 43,434
Transfers from (to) related plans -- -- 6 374
Interfund transfers (net) 404,868 27,867 5,064 643,161
Administrative expenses -- -- -- 52
Merger into Trump Taj Mahal Hotel & Casino
Savings Plan (398,761) (31,312) (961,513) (1,032,567)
------------ ------------ ------------ ------------
Decrease in net assets -- -- (566,473) (313,708)
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end
of period $ -- $ -- $ -- $ --
============ ============ ============ ============
Merrill
Lynch Ready
Assets Participants'
Trust Loans
Fund Receivable Other Total
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of period $ 4,624,245 $ 4,543,880 $ 190,149 $ 42,145,334
------------ ------------ ------------ ------------
Contributions-
Participants 306,374 -- (183,696) 2,385,949
Plan Sponsor (net of forfeitures) 53,541 (9,461) -- 554,685
Participant Rollovers -- -- -- 2,485
------------ ------------ ------------ ------------
Total contributions 359,915 (9,461) (183,696) 2,943,119
Dividend income 134,889 -- -- 1,393,033
Interest income 33,823 -- 1,623 253,885
Realized/unrealized appreciation (depreciation)
of investments -- -- -- 2,019,101
Distributions to participants (474,623) (159,918) 7,340 (2,240,014)
Loans issued to participants (192,790) 1,498,197 -- --
Loan principal repayments 177,926 (1,290,240) -- --
Transfers from (to) related plans (5,960) 25,535 (4) 111,948
Interfund transfers (net) 38,731 -- -- --
Administrative expenses -- -- -- 2,878
Merger into Trump Taj Mahal Hotel & Casino
Savings Plan (4,696,156) (4,607,993) (15,412) (46,629,284)
------------ ------------ ------------ ------------
Decrease in net assets (4,624,245) (4,543,880) (190,149) (42,145,334)
------------ ------------ ------------ ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end
of period $ -- $ -- $ -- $ --
=========== =========== =========== ============
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AUGUST 31, 1999 AND DECEMBER 31, 1998
1. SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES
----------------------
Basis of Accounting
- -------------------
The accompanying financial statements of the Trump Marina 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 $43,000 for the
period ended August 31, 1999.
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.
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.
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.
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AUGUST 31, 1999 AND DECEMBER 31, 1998
The Plan is administered by a committee appointed by the Plan Sponsor (the "Plan
Administrator").
Contributions
- -------------
Participants
------------
Non-highly compensated participants, as defined, are eligible to voluntarily
contribute to the Plan up to 20% of their 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
1999 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 August 31, 1999 or December 31, 1998.
Vesting
- -------
Voluntary contributions are fully vested at all times and are not subject to
forfeiture.
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AUGUST 31, 1999 AND DECEMBER 31, 1998
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. For the period ended August 31, 1999, $30,070 was used to reduce
Plan Sponsor contributions. As of August 31, 1999 and December 31, 1998, $3,787
and $82 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. 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 twenty-six available investment vehicles
as described below-
Mutual Funds
- ------------
Merrill Lynch 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.
Pimco Total Return Fund - An asset allocation mutual fund. The investment
- -----------------------
objective of this fund is to seek total return consistent with the preservation
of capital by investing in stocks, bonds and cash equivalents.
Merrill Lynch Federal Securities Fund - A securities fund investing in United
- -------------------------------------
States Government agencies seeking a high current return.
Merrill Lynch 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.
Merrill Lynch 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.
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AUGUST 31, 1999 AND DECEMBER 31, 1998
Merrill Lynch Growth Fund - Mutual fund investing in equity securities with the
- -------------------------
objective of capital appreciation.
Merrill Lynch 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.
Merrill Lynch Equity Index Trust Fund - Mutual fund that seeks investment
- -------------------------------------
results that correspond with the price and yield performance of the Standard &
Poors 500 Index.
Federated High Income Bond Fund - Mutual fund which seeks high current income;
- -------------------------------
capital growth is secondary. Investments may include preferred stocks, bonds,
debentures and notes.
MFS Utilities Fund - Mutual fund investing in equity and debt securities issued
- ------------------
by domestic and foreign utility companies. The fund's objective is capital
appreciation and current income.
Massachusetts Investors Growth Fund - Mutual fund investing in common stocks or
- -----------------------------------
convertible securities issued by companies exhibiting above average prospects
for long-term growth. The fund's objective is long-term growth of capital and
future income, rather than current income.
Massachusetts Investors Trust Fund - A growth and income mutual fund. The
- ----------------------------------
investment objective of this fund is to provide reasonable current income and
long-term growth of capital and income.
Merrill Lynch Healthcare Fund - Mutual fund seeking long-term capital
- -----------------------------
appreciation. The fund invests in equities issued by companies producing
healthcare products and services, primarily in developed markets.
Alliance Premier Growth Fund - Mutual fund investing in equity securities with
- ----------------------------
the objective of long-term growth of capital.
Seligman Communications Fund - Mutual fund investing in common stock issued by
- ----------------------------
companies that operate in the communications, information and related industries
with the objective of capital appreciation.
Davis Series Financial Fund - Mutual fund investing primarily in common stocks
- ---------------------------
and other equity securities, concentrated in the banking and financial services
industries with the objective of capital growth.
GAM International Fund - An equity mutual fund. The investment objective is
- ----------------------
long-term capital appreciation primarily through investing in equity markets
worldwide, excluding that of the United States.
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN SCHEDULE I
ITEM 27D - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE PERIOD ENDED AUGUST 31, 1999 (A)
EMPLOYER IDENTIFICATION #22-2608426, PLAN NUMBER 001
(d) Selling
(a) Identity of Party Involved (b) Description of Asset (c) Purchase Price Price
- ------------------------------ ------------------------ ------------------ -----
Merrill Lynch Pacific Fund-
255 Purchases $ 1,532,361 N/A
225 Sales N/A $ 1,454,649
Merrill Lynch Capital Fund-
295 Purchases 1,231,968 N/A
336 Sales N/A 1,434,014
Merrill Lynch Basic Value Fund-
348 Purchases 2,795,597 N/A
379 Sales N/A 2,944,198
Merrill Lynch Growth Fund-
293 Purchases 1,125,589 N/A
352 Sales N/A 1,726,630
Merrill Lynch Retirement Preservation Trust Fund-
206 Purchases 2,351,656 N/A
95 Sales N/A 1,632,797
Merrill Lynch Ready Assets Trust Fund-
441 Purchases 2,273,865 N/A
325 Sales N/A 2,201,954
Merrill Lynch Loan Fund-
140 Purchases 1,528,385 N/A
104 Sales N/A 1,464,272
(h) Current Value
of Asset on (i) Net Gain
(a) Identity of Party Involved (b) Description of Asset (g) Cost of Asset Transaction Date (Loss)
- ------------------------------ ------------------------ ----------------- ---------------- ------
Merrill Lynch Pacific Fund-
255 Purchases $ 1,532,361 $ 1,532,361 N/A
225 Sales 1,428,703 1,454,649 $ 25,946
Merrill Lynch Capital Fund-
295 Purchases 1,231,968 1,231,968 N/A
336 Sales 1,312,329 1,434,014 121,685
Merrill Lynch Basic Value Fund-
348 Purchases 2,795,597 2,795,597 N/A
379 Sales 2,481,498 2,944,198 462,700
Merrill Lynch Growth Fund-
293 Purchases 1,125,589 1,125,589 N/A
352 Sales 2,001,826 1,726,630 (275,196)
Merrill Lynch Retirement Preservation Trust Fund-
206 Purchases 2,351,656 2,351,656 N/A
95 Sales 1,632,797 1,632,797 -
Merrill Lynch Ready Assets Trust Fund-
441 Purchases 2,273,865 2,273,865 N/A
325 Sales 2,201,954 2,201,954 -
Merrill Lynch Loan Fund-
140 Purchases 1,528,385 1,528,385 N/A
104 Sales 1,464,272 1,464,272 -
(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,
1999.
Note: In addition to the above purchases and sales, on August 31, 1999 all of
the assets of the Plan were transferred to the Trump Taj Mahal Hotel & Casino
Savings Plan as a result of the merger of the two plans.
The accompanying notes to financial statements are an integral part of this
schedule.
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AUGUST 31, 1999 AND DECEMBER 31, 1998
Pioneer Growth Shares Fund - Mutual fund investing in common stocks and other
- --------------------------
equity securities of U.S. companies. The fund's objective is to seek capital
appreciation.
Merrill Lynch Eurofund Fund - Mutual fund investing the majority of its assets
- ---------------------------
in European equities with the objective of capital appreciation.
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
- ------------------
Merrill Lynch 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.
Merrill Lynch 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 MERGER
-----------
Effective August 31, 1999, the Plan was merged into the Trump Taj Mahal Hotel &
Casino Savings Plan ( the "Taj Plan"). The Taj Plan was renamed the Trump
Capital Accumulation Plan. The transfer of assets is not expected to adversely
affect the future payment of benefits to the participants who are now members of
the Plan.
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 to his or her separate account.
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.
TRUMP MARINA HOTEL & CASINO SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
AUGUST 31, 1999 AND DECEMBER 31, 1998
Certain Plan investments include shares of THCR common stock ("Common Stock")
and, therefore, these transactions qualify as party-in-interest. As of August
31, 1999 and December 31, 1998, the Plan holds Common Stock with a market value
of $0 and $566,473, respectively. During the period ended August 31, 1999,
Common Stock was acquired at a cost of $1,037,962; and Common Stock was sold
with an original cost basis of $909,847.
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 to the Trump Marina Hotel & Casino Savings Plan, net $ 111,948
Transfers to the Trump Taj Mahal Hotel & Casino Savings Plan, net 275,106
Transfers to the Trump Plaza Hotel & Casino Savings Plan, net 318,535
Transfers out of the Trump Casino Services Savings Plan, net (702,420)
Transfers out of the Trump Indiana Savings Plan, net (3,169)
------------
Net Related Plan Transfers $ -
============