NEW YORK— Trump Hotels & Casino Resorts (THCR) reported consolidated net revenues for the quarter ended March 31 of $278.8 million, consolidated income from operations for the quarter of $27.3 million, and a consolidated net loss of $24 million, or $1.09 per share net of minority interest of $5.1 million (including a $1.2-million charge for state income taxes). This compares to consolidated net revenues of $295.8 million for the quarter ended March 31, 2002, consolidated income of $48.2 million for that three-month period a year ago, and a net loss of $4.6 million, or $0.21 per share net of minority interest of $2.6 million for last year’s opening quarter. Additionally, EBITDA for the quarter was $56.8 million, compared to EBITDA of $74.1 million reported for the quarter ended March 31, 2002. By way of explaining this fall-off, THCR Chairman/President/CEO Donald Trump contended: “This winter’s weather has been one of the worst in recent memory. Snow storms— many on weekends, including the blizzard on the Presidents’ Day holiday— made travel to Atlantic City very difficult and is the major factor in our revenue decline. “The war in Iraq and anemic economic conditions have also contributed to the decline,” Trump added. “In addition to these issues, higher insurance costs, utilities and real estate taxes also contributed to the decrease in income from operations and EBITDA.” Breaking down these overall figures, Trump Taj Mahal Associates reported net revenues of $118.5 million for this year’s first quarter as compared to $124.9 million for the quarter ended March 31, 2002. Income from operations for the most recent quarter amounted to $16 million, compared to $24.3 million for the quarter ended a year ago. EBITDA was $27.2 million for the quarter compared to $33.8 million for the quarter ended March 31, 2002. Meanwhile, Trump Plaza Associates reported net revenues of $70.0 million for the quarter compared to $75.9 million for the year-ago quarter. Moreover, income from operations for this year’s opening quarter came to $7.3 million, compared to $12.6 million for the 2002 quarter, and EBITDA was $12.9 million for the quarter against $17.5 million for the 2002 quarter. Also for the 2003 quarter,Trump Marina reported net revenues of $58.5 million, compared to $63.2 million for the 2002 quarter. Income from operations for this year’s opening three months totaled $2.6 million, compared to $8.5 million for the 2002 quarter. EBITDA— now versus then— was $8.2 million in 2003 and $14.7 million in 2002. For the quarter ended Mar. 31, 2003, Trump Indiana reported net revenues of $30.8 million, compared to $31.9 million for the quarter ended Mar. 31, 2002. Income from operations for the quarter ended Mar. 31, 2003 was $4.1 million, compared to $5.5 million for the quarter ended Mar. 31, 2002, and EBITDA was $7.6 million for the quarter ended Mar. 31, 2003, compared to $8.1 million for the quarter ended Mar. 31, 2002. Additionally, THCR Management Services— during the quarter ended Mar. 31, 2003— earned $1.0 million in management fees under its five-year management agreement with the Twenty Nine Palms Band of Luiseno Mission Indians of California for Trump 29 Casino (included in other revenues) and incurred $0.1 million in associated general and administrative costs. Finally, for the quarter ended Mar. 31, 2003, Trump Atlantic City Associates reported combined net revenues of Trump Plaza and Trump Taj Mahal of $188.5 million, compared to net revenues of $200.7 million for the quarter ended Mar. 31, 2002. Income from operations for the quarter ended Mar. 31, 2003 was $23.2 million, compared to $35.3 million for the quarter ended Mar. 31, 2002. EBITDA was $40.1 million for the quarter ended Mar. 31, 2003, compared to $51.3 million for the quarter ended Mar. 31, 2002. In other matter, it was noted that, on Mar. 25, 2003, Trump Casino Holdings LLC (TCH) closed the private placement of $490 million aggregate principal amount of two
