Trump Hotels Reports Record 2Q

NEW YORK— Trump Hotels & Casino Resorts (THCR) reported record earnings and EBITDA marking its best second quarter in its history following its previously announced record fourth quarter 2001, and first quarter 2002. THCRs EBITDA for the quarter ended June 30, 2002 increased to $81.4 million, $17 million higher than the $64.4 million reported for the same quarter last year, representing a 26.3% increase. Consolidated net revenues for the quarter increased to $313.4 million from $301.4 million reported for the second quarter 2001. For the six months ended June 30, 2002, EBITDA increased to $155.5 million, $40.3 million higher than the $115.2 million reported for the six months ended June 30, 2001, or a 35% increase. The net income for the 2002 second quarter was $0.2 million, or $.01 per share, compared to a $7.8 million loss, or $.35 per share, in the second quarter of 2001. Donald Trump, chairman, president and Chief Executive Officer said, “We have now posted three consecutive record quarters… This bodes well for our ongoing refinancing efforts, which, if successful, should reduce our interest costs.”