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Gaming Industry News |
Friday November 21st, 2008 |
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Trump Entertainment Resorts, Inc. Concludes Current Review of Strategic Options |
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Trump Entertainment Resorts, Inc. (NASDAQ: TRMP) announced today that its Board of Directors has concluded, after consulting with financial advisor Merrill Lynch, that none of the indications of interest received to date for the acquisition of the Company represented or was likely to lead to a transaction that was in the best interests of the Company and its shareholders. |
The previous discussions with prospective acquirers of the Company have concluded, and there are currently no ongoing discussions with the parties that submitted the indications of interest.
The Company will continue to review other strategic corporate options while implementing its strategic operating plan with a view towards maximizing value for the Company's shareholders.
The Company's strategic operating plan has specifically been designed to reduce corporate and operating expenses in order to improve margins, increase market share and implement a service-driven culture to improve the customer experience. Initiatives achieved under the plan to date include the commencement of the construction of a new 786-room hotel tower at the Taj Mahal, substantial capital upgrades to the Company's existing facilities, the deployment of a new revenue management and E-commerce initiative and the recent introduction of the TrumpONE unified players club program. The Company will also continue to solicit and pursue opportunities to harness the power of the Trump brand in Atlantic City and in other jurisdictions, both domestically and abroad.
ABOUT TRUMP ENTERTAINMENT RESORTS, INC.
Trump Entertainment Resorts, Inc. is a leading gaming company that owns and operates three properties. The Company's properties are Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, located on the Boardwalk in Atlantic City, New Jersey, and Trump Marina Hotel Casino, located in Atlantic City's Marina District. The Company is the sole vehicle through which Donald J. Trump, the Company's Chairman and largest stockholder, conducts gaming activities and is separate and distinct from Mr. Trump's real estate and other holdings.
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| Last: |
0.27 |
| Time: |
11/21/2008
3:59pm |
| Change: |
-0.045 |
| Opened: |
0.29 |
| Day: |
0.32 - 0.25 |
| Volume: | 313552
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