NEW YORK— Trump Hotels and Casino Resorts announced that it has emerged from its period of protection under Chapter 11 bankruptcy, and completed a $544 million reduction in debt and the reissue of its stock. The company also changed its name to Trump Entertainment Resorts, Inc. The company sought Chapter 11 protection from creditors last November after it accumulated $1.8 billion in debt that it had difficulty sustaining. The reorganized company completed an issue of 40 million new shares of stock, after a reverse stock split of 1,000-to-1 for existing shareholders. It announced that it would apply to have its new stock listed on the New York Stock Exchange. Trump Entertainment Resorts has major hotel and gambling properties in Atlantic City, NJ and Gary, IN.
