Trump Taj Mahal Begins Expansion Construction
ATLANTIC CITY, New Jersey – TrumpEntertainment Resorts, Inc. (the "Company") (Nasdaq: TRMP) announced todaythat construction officially commenced in July 2006 on the new, $250million hotel tower at the Trump Taj Mahal Casino Resort (the "Taj Mahal").
"As we constantly strive to create a more entertaining and excitingatmosphere at each of our properties, the construction of our new hoteltower is planned to greatly increase our guest capacity at the Taj Mahal,"said Mark Juliano, the Company's Chief Operating Officer. "As we renovatethe casino floor and develop more dining and retail options at the TajMahal, these rooms will serve as a critical component of our plan to expandour business and attract more valuable customers."
Completion of the tower construction is expected during the summer of2008. The new tower is planned to add 786 rooms to the Taj Mahal, whichcurrently has 1,250 rooms in the existing hotel tower. Standing 40 storieshigh and 450-feet tall, the tower's rooms include 716 generouslyapportioned standard guest rooms and 70 suites with ocean views. Theprimary architect on the project is the Friedmutter Group.
Construction of the new tower is in addition to the Company'spreviously announced $110 million renovation and expansion plan. Projectsalready completed include the renovation of nearly every hotel guest roomat all three Trump properties; the entire casino floor renovation and theopening of 24 Central Cafe at Trump Plaza Casino and Hotel; the Ego Bar andLounge, Trump Exchange retail store, The Asian Gaming Pit and the newnoodle bar, The Rim, at the Taj Mahal. Construction of the new retail anddining entrance corridor to the Taj Mahal is underway, as is the renovationof the casino floor. The master plan for the Trump Marina Hotel Casino isalso currently being developed.
"We believe that expanding the Company's guest room inventory inAtlantic City is a critical component of our overall plan to capitalize onthe changing and growing gaming marketplace," said James B. Perry, ChiefExecutive Officer of the Company. "As Atlantic City continues to transforminto a destination market for customers, our expansion and renovation planis being specifically tailored to create new entertainment options, toincrease the overall quality of experience at Trump properties, and toincrease value for shareholders of the Company."
2006-08-08
