~~Table~~UNITED ofSTATES ~~Contents~~

SECURITIES AND EXCHANGE ~~COMMISSIONWashington,~~COMMISSION ~~D.C. 20549~~

~~FORM~~Washington, ~~10-Q~~D.C. 20549

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended: September 30, 2002
OR
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission file number: 1-13794
TRUMP HOTELS & CASINO RESORTS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE		13-3818402
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
1000 Boardwalk Atlantic City, New Jersey		08401
(Address of principal executive offices)		(Zip Code)
(609) 449-6515
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Commission file number: 33-90786
TRUMP HOTELS & CASINO RESORTS HOLDINGS, L.P.
(Exact name of registrant as specified in its charter)
DELAWARE		13-3818407
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
1000 Boardwalk Atlantic City, New Jersey		08401
(Address of principal executive offices)		(Zip Code)
(609) 449-6515
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Commission file number: 33-90786
TRUMP HOTELS & CASINO RESORTS FUNDING, INC.
(Exact name of registrant as specified in its charter)
DELAWARE		13-3818405
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
1000 Boardwalk Atlantic City, New Jersey		08401
(Address of principal executive offices)		(Zip Code)
(609) 449-6515
(Registrant’s telephone number, including area code)
Not Applicable

FORM 10-Q

~~Indicate~~x byQUARTERLY ~~check~~REPORT ~~mark~~PURSUANT ~~whether~~TO ~~the~~SECTION ~~registrants (1) have filed all reports required to be filed by Section~~ 13 orOR 15(d) ofOF ~~the~~THE ~~Securities~~SECURITIES ~~Exchange Act~~EXCHANGE ofACT ~~1934~~OF ~~during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days.~~1934

~~Yes~~For xthe Noquarterly operiod ended: March 31, 2009

~~The~~OR ~~number of outstanding shares of Common Stock, par value $.01 per share, of Trump Hotels & Casino Resorts, Inc. as of November 14, 2002 was 22,010,027.~~

~~The~~¨ ~~number~~TRANSITION ofREPORT ~~outstanding~~PURSUANT ~~shares~~TO ofSECTION ~~Class~~13 BOR ~~Common~~15(d) ~~Stock,~~OF ~~par~~THE ~~value~~SECURITIES ~~$.01 per~~EXCHANGE ~~share,~~ACT ofOF ~~Trump Hotels & Casino Resorts, Inc. as of November 14, 2002 was 1,000.~~1934

~~The~~For number of outstanding shares of Common Stock, par value $.01 per share, of Trump Hotels & Casino Resorts Funding, Inc. as of November 14, 2002 was 100. Trump Hotels & Casino Resorts Funding, Inc. meets the ~~conditions~~transition ~~set~~period ~~forth in General Instruction~~from to ~~(H)(1)(a) and (b) of Form 10-Q and is therefore filing this form with reduced disclosure information~~ .

~~Table~~TRUMP ofENTERTAINMENT ~~Contents~~RESORTS, INC.

TRUMP ~~HOTELS~~ENTERTAINMENT ~~& CASINO~~ RESORTS, ~~INC., TRUMP HOTELS & CASINO RESORTS~~ HOLDINGS, L.P. ~~AND TRUMP HOTELS & CASINO RESORTS FUNDING, INC.~~

~~INDEX~~TRUMP TOENTERTAINMENT ~~FORM~~RESORTS ~~10-Q~~FUNDING, INC.

		Page No.
PART I-- FINANCIAL INFORMATION
ITEM 1-- Financial Statements
	Condensed Consolidated Balance Sheets of Trump Hotels & Casino Resorts, Inc. as of December 31, 2001 and September 30, 2002 (unaudited)	1
	Condensed Consolidated Statements of Operations of Trump Hotels & Casino Resorts, Inc. for the Three and Nine Months Ended September 30, 2001 and 2002 (unaudited)	2
	Condensed Consolidated Statement of Stockholders’ Equity of Trump Hotels & Casino Resorts, Inc. for the Nine Months Ended September 30, 2002 (unaudited)	3
	Condensed Consolidated Statements of Cash Flows of Trump Hotels & Casino Resorts, Inc. for the Nine Months Ended September 30, 2001 and 2002 (unaudited)	4
	Condensed Consolidated Balance Sheets of Trump Hotels & Casino Resorts Holdings, L.P. as of December 31, 2001 and September 30, 2002 (unaudited)	5
	Condensed Consolidated Statements of Operations of Trump Hotels & Casino Resorts Holdings, L.P. for the Three and Nine Months Ended September 30, 2001 and 2002 (unaudited)	6
	Condensed Consolidated Statement of Partners’ Capital of Trump Hotels & Casino Resorts Holdings, L.P. for the Nine Months Ended September 30, 2002 (unaudited)	7
	Condensed Consolidated Statements of Cash Flows of Trump Hotels & Casino Resorts Holdings, L.P. for the Nine Months Ended September 30, 2001 and 2002 (unaudited)	8
	Notes to Condensed Consolidated Financial Statements of Trump Hotels & Casino Resorts, Inc., Trump Hotels & Casino Resorts Holdings, L.P. and Trump Hotels & Casino Resorts Funding, Inc. (unaudited)	9
ITEM 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations		14
ITEM 3 – Quantitative and Qualitative Disclosures About Market Risk		24
ITEM 4 – Controls and Procedures		24
PART II -- OTHER INFORMATION
ITEM 1 – Legal Proceedings		25
ITEM 2 – Changes in Securities and Use of Proceeds		25
ITEM 3 – Defaults Upon Senior Securities		25
ITEM 4 – Submission of Matters to a Vote of Security Holders		25
ITEM 5 – Other Information		25
ITEM 6 – Exhibits and Reports on Form 8-K		26
SIGNATURES
Signature – Trump Hotels & Casino Resorts, Inc.		27
Signature – Trump Hotels & Casino Resorts Holdings, L.P.		27
Signature – Trump Hotels & Casino Resorts Funding, Inc.		27
CERTIFICATIONS		28-33
EXHIBIT INDEX		34

(Exact name of registrant as specified in its charter)


Delaware	1-13794	13-3818402
Delaware	33-90786	13-3818407
Delaware	33-90786-01	13-3818405
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

~~Table~~15 ofSouth ~~Contents~~Pennsylvania Avenue

~~PART~~Atlantic ~~I - FINANCIAL~~City, ~~INFORMATION~~New Jersey 08401

~~ITEM~~(609) 1 449- ~~FINANCIAL~~5866 ~~STATEMENTS~~

~~TRUMP~~(Address, ~~HOTELS~~including &zip ~~CASINO RESORTS~~code, ~~INC. CONDENSED~~and ~~CONSOLIDATED~~telephone ~~BALANCE~~number, ~~SHEETS(dollars~~including inarea ~~thousands~~code, ~~except~~of ~~share~~principal ~~data~~executive offices)

				December 31, 2001			September 30, 2002
							(unaudited)
ASSETS
CURRENT ASSETS:
	Cash and cash equivalents			$	119,173		$	177,095
	Receivables, net				47,328			40,184
	Inventories				11,658			11,547
	Advances to affiliates, net				—			40
	Prepaid expenses and other current assets				9,120			13,716
			Total Current Assets		187,279			242,582
INVESTMENT IN BUFFINGTON HARBOR, L.L.C.					33,889			32,108
INVESTMENT IN TRUMP’S CASTLE PIK NOTES					105,940			119,293
PROPERTY AND EQUIPMENT, NET					1,797,487			1,785,436
DEFERRED BOND AND LOAN ISSUANCE COSTS, NET					21,129			15,423
OTHER ASSETS (Note 3)					73,727			70,601
Total Assets				$	2,219,451		$	2,265,443
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
	Current maturities of long-term debt			$	20,218		$	21,223
	Accounts payable and accrued expenses (Note 7)				144,042			130,092
	Due to affiliates, net				17			—
	Accrued interest payable				38,580			76,964
			Total Current Liabilities		202,857			228,279
LONG-TERM DEBT, net of current maturities (Note 9)					1,881,636			1,894,441
OTHER LONG-TERM LIABILITIES					33,191			33,177
			Total Liabilities		2,117,684			2,155,897
MINORITY INTEREST					12,167			15,012
STOCKHOLDERS’ EQUITY:
		Common Stock, $.01 par value, 75,000,000 shares authorized, 24,206,756 issued; 22,010,027 outstanding			242			242
		Class B Common Stock, $.01 par value, 1,000 shares authorized, issued and outstanding			—			—
		Additional Paid in Capital			455,645			455,645
		Accumulated Deficit			(345,850	)		(340,559	)
		Accumulated Other Comprehensive Loss			(237	)		(594	)
		Less treasury stock at cost, 2,196,729 shares			(20,200	)		(20,200	)
Total Stockholders’ Equity					89,600			94,534
Total Liabilities and Stockholders’ Equity				$	2,219,451		$	2,265,443

N/A

~~The~~(Former ~~accompanying~~name, ~~notes~~former ~~are~~address and anformer ~~integral~~fiscal ~~part~~year, ofif ~~these~~changed ~~condensed~~since ~~consolidated~~last ~~balance~~report) ~~sheets.~~

1Securities registered pursuant to Section 12(b) of the Act: None

~~Table~~Securities registered pursuant to Section 12(g) of ~~Contents~~the Act:

TRUMP HOTELS & CASINO RESORTS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2002 (unaudited) (dollars in thousands, except share data)


Registrant	Title of Each Class	Name of Each Exchange on Which Registered
Trump Entertainment Resorts, Inc.	Common Stock, par value $0.001 per share	None
Trump Entertainment Resorts Holdings, L.P.	None	None
Trump Entertainment Resorts Funding, Inc.	None	None

									Three Months Ended September 30,						Nine Months Ended September 30,
									2001			2002			2001			2002
REVENUES:
							Gaming		$	343,237		$	353,042		$	945,383		$	983,429
							Rooms			23,025			22,636			61,962			62,402
						Food and Beverage				36,461			36,077			99,849			98,608
						Other				12,103			13,150			29,094			32,709
						Gross Revenues				414,826			424,905			1,136,288			1,177,148
						Less -- Promotional allowances (Note 4)				87,442			82,310			240,216			231,192
						Net Revenues				327,384			342,595			896,072			945,956
COSTS AND EXPENSES:
					Gaming (Note 4)					153,140			153,096			446,432			440,927
					Rooms					7,643			7,863			23,001			23,950
					Food and Beverage					12,755			12,801			33,919			35,485
				General and Administrative						66,300			71,490			198,099			201,599
				Depreciation and Amortization						17,367			21,765			54,887			61,583
				Debt Renegotiation Costs (Note 5)						—			6			—			3,070
										257,205			267,021			756,338			766,614
								Income from operations		70,179			75,574			139,734			179,342
NON-OPERATING INCOME AND (EXPENSES):
			Interest income							720			405			2,820			1,499
			Interest expense							(55,242	)		(57,173	)		(164,529	)		(167,627	)
			Other non-operating income (expense), net							(59	)		704			367			650
										(54,581	)		(56,064	)		(161,342	)		(165,478	)
Income (Loss) before equity in loss of Buffington Harbor, L.L.C., income taxes, and minority interest										15,598			19,510			(21,608	)		13,864
		Equity in loss of Buffington Harbor, L.L.C.								(586	)		(604	)		(2,185	)		(1,804	)
		Provision for income taxes (Note 7)								—			(3,718	)		—			(3,718	)
Income (Loss) before minority interest										15,012			15,188			(23,793	)		8,342
	Minority Interest									(5,490	)		(5,555	)		8,701			(3,051	)
NET INCOME (LOSS)									$	9,522		$	9,633		$	(15,092	)	$	5,291
Basic and diluted earnings (loss) per share									$	0.43			0.44		$	(0.69	)	$	0.24
Weighted average number of shares outstanding - basic										22,010,027			22,010,027			22,010,027			22,010,027
Weighted average number of shares outstanding- diluted										22,010,027			22,034,816			22,010,027			22,035,535

Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. Yes x No ¨

~~The~~Indicate ~~accompanying~~by ~~notes~~check ~~are~~mark anwhether ~~integral~~the ~~part~~registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of ~~these~~Regulation ~~condensed~~S-T ~~consolidated~~(§232.405 ~~financial~~of ~~statements~~this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ¨ No ¨

Indicate by check mark whether each registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

~~Table~~Trump ofEntertainment ~~Contents~~Resorts, Inc.

~~TRUMP~~Large ~~HOTELS~~Accelerated &Filer ~~CASINO~~¨ ~~RESORTS,~~Accelerated ~~INC. CONDENSED~~Filer ~~CONSOLIDATED~~x ~~STATEMENT~~Non-Accelerated OFFiler ~~STOCKHOLDERS’~~¨ ~~EQUITY~~Smaller ~~FOR~~Reporting ~~THE~~Company ~~NINE MONTHS ENDED SEPTEMBER 30, 2002 (unaudited) (dollars in thousands)~~¨

		Common Stock Amount		Additional Paid In Capital		Accumulated Deficit			Accumulated Other Comprehensive Loss			Treasury Stock			Total Stockholders’ Equity
Balance, December 31, 2001		$	242	$	455,645	$	(345,850	)	$	(237	)	$	(20,200	)	$	89,600
	Net Income						5,291									5,291
	Change in value of interest rate swap, net of minority interest									(357	)					(357	)
	Total comprehensive income															4,934
Balance, September 30, 2002		$	242	$	455,645	$	(340,559	)	$	(594	)	$	(20,200	)	$	94,534

Trump Entertainment Resorts Holdings, L.P.

AtLarge ~~December~~Accelerated ~~31,~~Filer ~~2001~~¨ ~~and~~Accelerated ~~September~~Filer ~~30,~~¨ ~~2002,~~Non-Accelerated ~~there~~Filer ~~were~~x ~~22,010,027~~Smaller ~~shares~~Reporting ofCompany ~~Common Stock outstanding and 1,000 shares of Class B Common Stock outstanding.~~¨

~~The~~Trump ~~accompanying~~Entertainment ~~notes~~Resorts ~~are~~Funding, ~~an integral part of this condensed consolidated financial statement~~Inc.

3Large Accelerated Filer ¨ Accelerated Filer ¨ Non-Accelerated Filer x Smaller Reporting Company ¨

~~Table~~Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of ~~Contents~~the Exchange Act). Yes ¨ No x

~~TRUMP~~Indicate ~~HOTELS~~by &check ~~CASINO~~mark ~~RESORTS,~~whether ~~INC. CONDENSED~~the ~~CONSOLIDATED~~registrants ~~STATEMENTS~~have OFfiled ~~CASH~~all ~~FLOWS~~documents ~~FOR~~and ~~THE~~reports ~~NINE~~required ~~MONTHS~~to ~~ENDED~~be ~~SEPTEMBER~~filed ~~30,~~by ~~2001~~Sections ~~AND~~12, ~~2002~~13 or 15(~~unaudited~~d) ~~(dollars~~of inthe ~~thousands)~~Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes x No ¨

				2001			2002
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)				$	(15,092	)	$	5,291
Adjustments to reconcile net loss to net cash flows from operating activities:
	Issuance of debt in exchange for accrued interest				8,392			8,604
	Non-cash increase in Trump’s Castle PIK Notes				(11,677	)		(13,353	)
	Equity in loss of Buffington Harbor, L.L.C.				2,185			1,804
	Depreciation and amortization				54,887			61,583
	Minority interest in net income (loss)				(8,701	)		3,051
	Accretion of discounts on mortgage notes				4,809			5,504
	Amortization of deferred loan costs				4,409			6,952
	Provision for losses on receivables				5,803			7,571
	Valuation allowance of CRDA investments and amortization of Indiana gaming costs				4,943			4,102
	Increase in receivables				(2,774	)		(427	)
	Decrease in inventories				262			111
	Increase in other current assets				(1,697	)		(4,791	)
	Decrease (increase) in advances to affiliates				2,012			(57	)
	(Increase) decrease in other assets				(4,062	)		9,762
	Decrease in accounts payable and accrued expenses				(3,291	)		(12,926	)
	Increase in accrued interest payable				49,850			38,384
	Increase in other long-term liabilities				5,530			263
			Net cash flows provided by operating activities		95,788			121,428
CASH FLOWS FROM INVESTING ACTIVITIES:
	Purchase of property and equipment, net				(10,860	)		(26,408	)
	Investment in Buffington Harbor, L.L.C.				(68	)		(23	)
	Purchase of CRDA investments				(10,222	)		(10,621	)
	Advances to the Tribe				—			(3,962	)
		Net cash flows used in investing activities			(21,150	)		(41,014	)
CASH FLOWS FROM FINANCING ACTIVITIES:
	Proceeds from additional borrowings, net of issuance costs				25,606			73,026
	Payment of long-term debt				(30,976	)		(95,518	)
		Net cash flows used in financing activities			(5,370	)		(22,492	)
NET INCREASE IN CASH AND CASH EQUIVALENTS					69,268			57,922
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD					95,429			119,173
CASH AND CASH EQUIVALENTS AT END OF PERIOD				$	164,697		$	177,095
CASH INTEREST PAID				$	104,437		$	116,649
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Purchase of property and equipment under capital lease obligations				$	19,128		$	19,631
Accumulated Other Comprehensive Loss, net of minority interest				$	(354	)	$	(357	)

As of May 8, 2009, there were 31,715,876 shares of common stock and 900 shares of class B common stock of Trump Entertainment Resorts, Inc. outstanding. As of May 8, 2009, there were 100 shares of common stock of Trump Entertainment Resorts Funding, Inc. outstanding

~~The~~PART ~~accompanying~~I ~~notes~~– ~~are~~FINANCIAL anINFORMATION ~~integral part of these condensed consolidated financial statements.~~

4Item 1. Financial Statements

~~Table~~TRUMP ofENTERTAINMENT RESORTS, ~~Contents~~INC.

~~TRUMP HOTELS & CASINO RESORTS HOLDINGS, L.P.~~ CONDENSED CONSOLIDATED BALANCE SHEETS~~(dollars~~ ~~in thousands)~~

			December 31, 2001			September 30, 2002
						(unaudited)
ASSETS
CURRENT ASSETS:
	Cash and cash equivalents		$	119,169		$	177,091
	Receivables, net			47,328			40,184
	Inventories			11,658			11,547
	Advances to affiliates, net			—			40
	Prepaid expenses and other current assets			9,120			13,716
		Total Current Assets		187,275			242,578
INVESTMENT IN BUFFINGTON HARBOR, L.L.C.				33,889			32,108
INVESTMENT IN TRUMP’S CASTLE PIK NOTES				105,940			119,293
PROPERTY AND EQUIPMENT, NET				1,797,487			1,785,436
DEFERRED BOND AND LOAN ISSUANCE COSTS, NET				21,129			15,423
OTHER ASSETS (Note 3)				73,727			70,601
Total Assets			$	2,219,447		$	2,265,439
LIABILITIES AND PARTNERS’ CAPITAL
CURRENT LIABILITIES:
	Current maturities of long-term debt		$	20,218		$	21,223
	Accounts payable and accrued expenses (Note 7)			144,042			130,092
	Due to affiliates, net			17			—
	Accrued interest payable			38,580			76,964
		Total Current Liabilities		202,857			228,279
LONG-TERM DEBT, net of current maturities (Note 9)				1,881,636			1,894,441
OTHER LONG-TERM LIABILITIES				33,191			33,177
Total Liabilities				2,117,684			2,155,897
PARTNERS’ CAPITAL:
Partners’ capital				652,503			652,503
Accumulated deficit				(530,166	)		(521,824	)
Accumulated other comprehensive loss				(374	)		(937	)
Less stock of THCR				(20,200	)		(20,200	)
Total Partners’ Capital				101,763			109,542
Total Liabilities and Partners’ Capital			$	2,219,447		$	2,265,439

(unaudited)

~~The~~(dollars ~~accompanying~~in ~~notes~~thousands, ~~are~~except anshare ~~integral~~and ~~part~~per ofshare ~~these~~data) ~~condensed consolidated balance sheets.~~


	March 31, 2009			December 31, 2008
Current assets:
Cash and cash equivalents	$	64,606		$	77,210
Accounts receivable, net		41,994			38,579
Accounts receivable, other		5,381			5,162
Property taxes receivable		4,474			3,983
Inventories		5,147			5,938
Deferred income taxes		13,809			13,809
Prepaid expenses and other current assets		13,251			16,863
Assets held for sale		235,674			239,260

Total current assets		384,336			400,804

Net property and equipment		1,470,671			1,480,151

Other assets:
Restricted cash		2,607			2,807
Trademarks		53,212			53,212
Intangible assets, net		3,156			3,408
Deferred financing costs, net		—			14,902
Property taxes receivable		12,122			15,760
Other assets, net		81,886			76,335

Total other assets		152,983			166,424

Total assets	$	2,007,990		$	2,047,379

Current liabilities:
Current maturities of long-term debt, subject to compromise	$	1,736,494		$	1,737,726
Current maturities of long-term debt		191			194
Accounts payable		32,740			36,714
Accrued payroll and related expenses		22,938			19,888
Income taxes payable		8,348			8,248
Partnership distribution payable		180			—
Accrued interest payable		9,571			8,991
Accrued interest payable, subject to compromise		90,278			62,459
Self-insurance reserves		14,857			14,234
Other current liabilities		29,529			31,839
Liabilities related to assets held for sale		20,311			19,012

Total current liabilities		1,965,437			1,939,305

Long-term debt, net of current maturities		5,896			5,924
Deferred income taxes		67,363			67,363
Other long-term liabilities		26,912			27,083
(Deficit) equity:
Preferred stock, $1 par value; 1,000,000 shares authorized, no shares issued and outstanding		—			—
Common stock, $.001 par value; 75,000,000 shares authorized, 31,715,876 and 31,718,376 shares issued and outstanding at March 31, 2009 and December 31, 2008, respectively		32			32
Class B Common stock, $0.001 par value; 1,000 shares authorized, 900 shares issued and outstanding		—			—
Additional paid-in capital		466,987			466,666
Accumulated deficit		(516,074	)		(465,919	)
Noncontrolling interest in subsidiaries		(8,563	)		6,925

Total (deficit) equity		(57,618	)		7,704

Total liabilities and (deficit) equity	$	2,007,990		$	2,047,379

~~Table~~See ofaccompanying ~~Contents~~notes to condensed consolidated financial statements

~~TRUMP~~2 ~~HOTELS & CASINO RESORTS HOLDINGS, L.P. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2002 (unaudited) (dollars in thousands)~~

		Three Months Ended September 30,						Nine Months Ended September 30,
		2001			2002			2001			2002
REVENUES:
	Gaming	$	343,237		$	353,042		$	945,383		$	983,429
	Rooms		23,025			22,636			61,962			62,402
	Food and Beverage		36,461			36,077			99,849			98,608
	Other		12,103			13,150			29,094			32,709
	Gross Revenues		414,826			424,905			1,136,288			1,177,148
	Less -- Promotional allowances (Note 4)		87,442			82,310			240,216			231,192
	Net Revenues		327,384			342,595			896,072			945,956
COSTS AND EXPENSES:
	Gaming (Note 4)		153,140			153,096			446,432			440,927
	Rooms		7,643			7,863			23,001			23,950
	Food and Beverage		12,755			12,801			33,919			35,485
	General and Administrative		66,300			71,490			198,099			201,599
	Depreciation and Amortization		17,367			21,765			54,887			61,583
	Debt Renegotiation Costs (Note 5)		—			6			—			3,070
			257,205			267,021			756,338			766,614
Income from operations			70,179			75,574			139,734			179,342
NON-OPERATING INCOME AND (EXPENSES):
	Interest income		720			405			2,820			1,499
	Interest expense		(55,242	)		(57,173	)		(164,529	)		(167,627	)
	Other non-operating income (expense), net		(59	)		704			367			650
			(54,581)			(56,064	)		(161,342	)		(165,478	)
Income (Loss) before equity in loss of Buffington Harbor, L.L.C., and income taxes			15,598			19,510			(21,608	)		13,864
Equity in loss of Buffington Harbor, L.L.C.			(586	)		(604	)		(2,185	)		(1,804	)
Provision for income taxes (Note 7)			—			(3,718	)		—			(3,718	)
NET INCOME (LOSS)		$	15,012		$	15,188		$	(23,793	)	$	8,342

TRUMP ENTERTAINMENT RESORTS, INC.

~~The~~CONDENSED ~~accompanying~~CONSOLIDATED ~~notes~~STATEMENTS ~~are~~OF anOPERATIONS ~~integral part of these condensed consolidated financial statements.~~

6(unaudited)

~~Table~~(dollars ofin ~~Contents~~thousands, except share and per share data)

TRUMP HOTELS & CASINO RESORTS HOLDINGS, L.P. CONDENSED CONSOLIDATED STATEMENT OF PARTNERS’ CAPITAL FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2002 (unaudited) (dollars in thousands)


	Three Months Ended March 31,
	2009			2008
Revenues:
Gaming	$	166,423		$	184,622
Rooms		15,889			15,238
Food and beverage		17,949			20,904
Other		6,368			7,645

		206,629			228,409
Less promotional allowances		(51,738	)		(51,062	)

Net revenues		154,891			177,347

Costs and expenses:
Gaming		81,140			85,706
Rooms		3,042			3,136
Food and beverage		8,549			8,798
General and administrative		47,946			51,597
Corporate and development		4,512			5,571
Corporate - related party		635			664
Depreciation and amortization		14,293			13,607
Reorganization expense		18,812			—

		178,929			169,079

(Loss) income from operations		(24,038	)		8,268

Non-operating income (expense):
Interest income		475			1,839
Interest expense		(39,258	)		(33,858	)

		(38,783	)		(32,019	)

Loss before income taxes and discontinued operations		(62,821	)		(23,751	)
Income tax benefit (provision)		—			—

Loss from continuing operations		(62,821	)		(23,751	)

Loss from discontinued operations:
Trump Marina		(2,742	)		(627	)
Income tax benefit (provision)		—			—

Loss from discontinued operations		(2,742	)		(627	)

Net loss		(65,563	)		(24,378	)
Less: Net loss attributable to noncontrolling interest		(15,408	)		(5,730	)

Net loss attributable to Trump Entertainment Resorts, Inc.	$	(50,155	)	$	(18,648	)


Amounts attributable to Trump Entertainment Resorts, Inc. common stockholders:
Loss from continuing operations, net of tax	$	(48,057	)	$	(18,168	)
Discontinued operations, net of tax		(2,098	)		(480	)

Net loss attributable to Trump Entertainment Resorts, Inc. common stockholders	$	(50,155	)	$	(18,648	)


Loss per share attributable to Trump Entertainment Resorts, Inc. common shareholders - basic and diluted
Continuing operations	$	(1.52	)	$	(0.58	)
Discontinued operations		(0.06	)		(0.01	)

Basic and diluted loss per share	$	(1.58	)	$	(0.59	)

Weighted average shares outstanding - basic and diluted		31,717,098			31,548,391

		Partners’ Capital		Accumulated Deficit			Accumulated Other Comprehensive Loss			THCR Common Stock			Total
Balance, December 31, 2001		$	652,503	$	(530,166	)	$	(374	)	$	(20,200	)	$	101,763
Net Income					8,342									8,342
Change in value of interest rate swap								(563	)					(563	)
	Total comprehensive income													7,779
Balance, September 30, 2002		$	652,503	$	(521,824	)	$	(937	)	$	(20,200	)	$	109,542

See accompanying notes to condensed consolidated financial statements

~~The~~3 ~~accompanying notes are an integral part of this condensed consolidated financial statement.~~

7TRUMP ENTERTAINMENT RESORTS, INC.

~~Table~~CONDENSED ofCONSOLIDATED ~~Contents~~STATEMENT OF STOCKHOLDERS’ EQUITY (DEFICIT)

~~TRUMP HOTELS & CASINO RESORTS HOLDINGS, L.P. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2002~~ (unaudited) ~~(dollars in thousands)~~

					2001			2002
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)					$	(23,793	)	$	8,342
Adjustments to reconcile net loss to net cash flows from operating activities:
	Issuance of debt in exchange for accrued interest					8,392			8,604
	Non-cash increase in Trump’s Castle PIK Notes					(11,677	)		(13,353	)
	Equity in loss of Buffington Harbor, L.L.C.					2,185			1,804
	Depreciation and amortization					54,887			61,583
	Accretion of discounts on mortgage notes					4,809			5,504
	Amortization of deferred loan costs					4,409			6,952
	Provision for losses on receivables					5,803			7,571
	Valuation allowance of CRDA investments and amortization of Indiana gaming costs					4,943			4,102
	Increase in receivables					(2,774	)		(427	)
	Decrease in inventories					262			111
	Increase in other current assets					(1,697	)		(4,791	)
	Decrease (increase) in advances to affiliates					2,012			(57	)
	(Increase) decrease in other assets					(4,062	)		9,762
	Decrease in accounts payable and accrued expenses					(3,291	)		(12,926	)
	Increase in accrued interest payable					49,850			38,384
	Increase in other long-term liabilities					5,530			263
				Net cash flows provided by operating activities		95,788			121,428
CASH FLOWS FROM INVESTING ACTIVITIES:
	Purchase of property and equipment, net					(10,860	)		(26,408	)
	Investment in Buffington Harbor, L.L.C.					(68	)		(23	)
	Purchase of CRDA investments					(10,222	)		(10,621	)
	Advances to the Tribe					—			(3,962	)
			Net cash flows used in investing activities			(21,150	)		(41,014	)
CASH FLOWS FROM FINANCING ACTIVITIES:
	Proceeds from additional borrowings, net of issuance costs					25,606			73,026
	Payment of long-term debt					(30,976	)		(95,518	)
		Net cash flows used in financing activities				(5,370	)		(22,492	)
NET INCREASE IN CASH AND CASH EQUIVALENTS						69,268			57,922
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD						95,425			119,169
CASH AND CASH EQUIVALENTS AT END OF PERIOD					$	164,693		$	177,091
CASH INTEREST PAID					$	104,437		$	116,649
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Purchase of property and equipment under capital lease obligations					$	19,128		$	19,631
Accumulated Other Comprehensive Loss					$	(559	)	$	(563	)

(in thousands, except share data)

The accompanying notes are an integral part of these condensed consolidated financial statements.


	Trump Entertainment Resorts, Inc. Shareholders												Noncontrolling Interest			Total Equity (Deficit)
	Shares		Common Stock		Shares	Class B Common Stock		Additional Paid-in Capital		Accumulated Deficit			Noncontrolling Interest			Total Equity (Deficit)
Balance, December 31, 2008	31,718,376		$	32	900	$	—	$	466,666	$	(465,919	)	$	6,925		$	7,704
Stock-based compensation expense	—			—	—		—		321		—			100			421
Partnership distributions	—			—	—		—		—		—			(180	)		(180	)
Forfeitures of restricted stock	(2,500	)		—	—		—		—		—			—			—
Net loss	—			—	—		—		—		(50,155	)		(15,408	)		(65,563	)

Balance, March 31, 2009	31,715,876		$	32	900	$	—	$	466,987	$	(516,074	)	$	(8,563	)	$	(57,618	)

8See accompanying notes to condensed consolidated financial statements

~~Table~~4 ~~of Contents~~

TRUMP ~~HOTELS~~ENTERTAINMENT ~~& CASINO~~ RESORTS, INC., ~~TRUMP HOTELS & CASINO RESORTS HOLDINGS, L.P. AND TRUMP HOTELS & CASINO RESORTS FUNDING, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)~~

~~(1) Organization~~CONDENSED ~~and~~CONSOLIDATED ~~Operations~~STATEMENTS OF CASH FLOWS

~~The accompanying condensed consolidated financial statements include those of Trump Hotels & Casino Resorts, Inc., a Delaware corporation~~ (~~“THCR”~~unaudited)~~, Trump~~ Hotels & Casino Resorts Holdings, L.P., a Delaware limited partnership (“THCR Holdings”), and Subsidiaries (as defined below). THCR Holdings is currently owned approximately 63.4% by THCR, as both a general and limited partner, and approximately 36.6% by Donald J. Trump (“Trump”), as a limited partner. Trump’s limited partnership interest in THCR Holdings represents his economic interests in the assets and operations of THCR Holdings. Such limited partnership interest is convertible at Trump’s option into 13,918,723 shares of THCR’s common stock, par value $.01 per share (the “THCR Common Stock”) (subject to certain adjustments), and if converted, would give Trump ownership of 44.5% of the THCR Common Stock (including his current personal share ownership) or 46.6% (assuming currently exercisable options held by Trump were exercised). Accordingly, the accompanying condensed consolidated financial statements include those of (i) THCR and its 63.4% owned subsidiary, THCR Holdings, and (ii) THCR Holdings and its wholly-owned subsidiaries.

~~All~~(dollars ~~significant intercompany balances and transactions have been eliminated~~ in ~~the~~thousands) ~~accompanying condensed consolidated financial statements.~~

The accompanying condensed consolidated financial statements have been prepared without audit. In the opinion of management, all adjustments, consisting of only normal recurring adjustments necessary to present fairly the financial position, the results of operations and cash flows for the periods presented, have been made.


	Three Months Ended March 31,
	2009			2008
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(65,563	)	$	(24,378	)
Adjustments to reconcile net loss to net cash flows provided by operating activities:
Depreciation and amortization		14,472			17,121
Accretion of interest income related to property tax settlement		(214	)		(235	)
Amortization of deferred financing costs		470			705
Provisions for losses on receivables		3,072			1,613
Stock-based compensation expense		421			727
Valuation allowance - CRDA investments		835			1,012
Non-cash reorganization expense		14,432			—
Gain on sale of assets		—			(37	)
Changes in operating assets and liabilities:
(Increase) decrease in receivables		(6,706	)		717
Decrease (increase) in inventories		791			(323	)
Decrease in property taxes receivable		3,362			—
Decrease in prepaid expenses and other current assets		3,611			4,175
Increase in other assets		(2,510	)		(2,245	)
Increase (decrease) in accounts payable, accrued expenses and other current liabilities		7,675			(688	)
Increase in accrued interest payable		28,399			26,460
Decrease in other long-term liabilities		(171	)		(146	)

Net cash flows provided by operating activities, including discontinued operations		2,376			24,478


CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment, net		(14,357	)		(51,320	)
Purchases of CRDA investments, net		(2,694	)		(2,966	)
Decrease in restricted cash		200			39,035
Capitalized interest on construction in process		—			(2,433	)

Net cash flows used in investing activities, including discontinued operations		(16,851	)		(17,684	)


CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of term loan		(1,232	)		(983	)
Repayments of other long-term debt		(37	)		(1,273	)
Partnership distributions		—			(250	)

Net cash flows used in financing activities, including discontinued operations		(1,269	)		(2,506	)


Net (decrease) increase in cash and cash equivalents		(15,744	)		4,288
Cash and cash equivalents at beginning of period, including cash reflected in assets held for sale		86,183			121,309

Cash and cash equivalents at end of period, including cash reflected in assets held for sale	$	70,439		$	125,597


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	$	10,395		$	9,288
Cash paid for income taxes		—			—
Equipment purchased under capital leases		—			6,000
Decrease in accounts payable for accrued purchases of property and equipment		(8,881	)		(4,648	)

~~The~~See accompanying ~~condensed~~notes ~~consolidated financial statements have been prepared pursuant~~ to ~~the~~condensed ~~rules~~consolidated ~~and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and note disclosures normally included in~~ financial statements ~~prepared in conformity with accounting principles generally accepted in the United States have been condensed or omitted.~~

~~These~~5 condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Registrants’ Annual Report on Form 10-K for the year ended December 31, 2001 filed with the SEC.

~~The casino~~TRUMP ~~industry in~~ENTERTAINMENT ~~Atlantic~~RESORTS ~~City and Indiana is seasonal in nature. Accordingly~~HOLDINGS, ~~results of operations for the period ended September 30, 2002 are not necessarily indicative of the operating results for a full year~~L.P.

~~THCR,~~CONDENSED ~~THCR~~CONSOLIDATED ~~Holdings~~BALANCE ~~and~~SHEETS Trump Hotels & Casino Resorts Funding, Inc., a Delaware corporation (“THCR Funding”), have no operations and their ability to service their debt is dependent on the successful operations of the following subsidiaries of THCR Holdings (the “Subsidiaries”): (i) Trump Atlantic City Associates, a New Jersey general partnership (“Trump AC”), which is comprised of Trump Taj Mahal Associates, a New Jersey general partnership (“Taj Associates”), and Trump Plaza Associates, a New Jersey general partnership (“Plaza Associates”); (ii) Trump Indiana, Inc., a Delaware corporation (“Trump Indiana”); and (iii) Trump’s Castle Associates, L.P., a New Jersey limited partnership (“Castle Associates”) d/b/a Trump Marina Hotel Casino (“Trump Marina”). THCR, through THCR Management Services, LLC, a wholly-owned, unrestricted subsidiary of THCR Holdings (“THCR Management”), also manages Trump 29 Casino located in the Palm Springs, California area pursuant to a five-year management agreement (the “Trump 29 Management Agreement”) with the Twenty-Nine Palms Band of Luiseno Mission Indians (the “Tribe”). The Registrants’ ability to service their debt is also dependent upon the management fees generated pursuant to the Trump 29 Management Agreement. THCR, through THCR Holdings and its subsidiaries, is the exclusive vehicle through which Trump engages in new gaming activities in emerging and established gaming jurisdictions.

9(unaudited)

~~Table~~(dollars ofin ~~Contents~~thousands)

TRUMP HOTELS & CASINO RESORTS, INC., TRUMP HOTELS & CASINO RESORTS HOLDINGS, L.P. AND TRUMP HOTELS & CASINO RESORTS FUNDING, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)


	March 31, 2009			December 31, 2008
Current assets:
Cash and cash equivalents	$	63,625		$	76,233
Accounts receivable, net		41,994			38,579
Accounts receivable, other		5,381			5,162
Property taxes receivable		4,474			3,983
Inventories		5,147			5,938
Deferred income taxes		2,867			2,867
Prepaid expenses and other current assets		13,251			16,863
Assets held for sale		235,674			239,260

Total current assets		372,413			388,885

Net property and equipment		1,470,671			1,480,151

Other assets:
Restricted cash		2,607			2,807
Trademarks		53,212			53,212
Intangible assets, net		3,156			3,408
Deferred financing costs, net		—			14,902
Property taxes receivable		12,122			15,760
Other assets, net		81,886			76,335

Total other assets		152,983			166,424

Total assets	$	1,996,067		$	2,035,460

Current liabilities:
Current maturities of long-term debt, subject to compromise	$	1,736,494		$	1,737,726
Current maturities of long-term debt		191			194
Accounts payable		32,740			36,714
Accrued payroll and related expenses		22,938			19,888
Income taxes payable		8,348			8,248
Accrued partner distributions		180			—
Accrued interest payable		9,571			8,991
Accrued interest payable, subject to compromise		90,278			62,459
Self-insurance reserves		14,857			14,234
Other current liabilities		29,529			31,839
Liabilities related to assets held for sale		20,311			19,012

Total current liabilities		1,965,437			1,939,305

Long-term debt, net of current maturities		5,896			5,924
Deferred income taxes		17,313			17,313
Other long-term liabilities		26,912			27,083

Partners’ (deficit) capital
Partners’ capital		604,124			603,883
Accumulated deficit		(623,615	)		(558,048	)

Total partners’ (deficit) capital		(19,491	)		45,835

Total liabilities and partners’ (deficit) capital	$	1,996,067		$	2,035,460

~~Basic~~See ~~and~~accompanying ~~Diluted~~notes ~~Earnings(Loss)~~to ~~Per~~condensed ~~Share~~consolidated financial statements

~~Basic~~6 earnings (loss) per share is based on the weighted average number of shares of THCR Common Stock outstanding. Diluted earnings per share includes the impact of common stock options using the treasury stock method unless such options are anti-dilutive. The shares of THCR’s Class B common stock, par value $.01 per share (the “THCR Class B Common Stock”), owned by Trump have no economic interest and therefore are not considered in the calculation of weighted average shares outstanding. A reconciliation of the number of shares used in the basic and diluted earnings (loss) per share calculations is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2001		2002		2001		2002
Weighted average common shares outstanding - basic		22,010,027		22,010,027		22,010,027		22,010,027
Dilutive effect of stock options computed under treasury stock method		—		24,789		—		25,508
Weighted average common shares outstanding - diluted		22,010,027		22,034,816		22,010,027		22,035,535

TRUMP ENTERTAINMENT RESORTS HOLDINGS, L.P.

~~Options~~CONDENSED toCONSOLIDATED ~~purchase~~STATEMENTS ~~2,017,500~~OF ~~shares were~~OPERATIONS excluded from the computation of diluted earnings per share for the three months ended September 30, 2002 as the weighted exercise price of the options was greater than the average market price of THCR stock during the quarter.

~~Reclassifications~~(unaudited)

~~Certain~~(dollars ~~reclassifications~~in ~~have~~thousands) ~~been made to prior year financial statements to conform to the current year presentation.~~


	Three Months Ended March 31,
	2009			2008
Revenues:
Gaming	$	166,423		$	184,622
Rooms		15,889			15,238
Food and beverage		17,949			20,904
Other		6,368			7,645

		206,629			228,409
Less promotional allowances		(51,738	)		(51,062	)

Net revenues		154,891			177,347

Costs and expenses:
Gaming		81,140			85,706
Rooms		3,042			3,136
Food and beverage		8,549			8,798
General and administrative		47,946			51,597
Corporate and other		4,512			5,571
Corporate-related party		635			664
Depreciation and amortization		14,293			13,607
Reorganization expense		18,812			—

		178,929			169,079

(Loss) income from operations		(24,038	)		8,268

Non-operating income (expense):
Interest income		471			1,832
Interest expense		(39,258	)		(33,858	)

		(38,787	)		(32,026	)


Loss before income taxes and discontinued operations		(62,825	)		(23,758	)
Income tax benefit (provision)		—			—

Loss from continuing operations		(62,825	)		(23,758	)

Loss from discontinued operations:
Trump Marina		(2,742	)		(627	)
Income tax benefit (provision)		—			—

Loss from discontinued operations		(2,742	)		(627	)

Net loss	$	(65,567	)	$	(24,385	)

~~Table~~See ofaccompanying ~~Contents~~notes to condensed consolidated financial statements

~~TRUMP~~7 ~~HOTELS & CASINO RESORTS, INC., TRUMP HOTELS & CASINO RESORTS HOLDINGS, L.P. AND TRUMP HOTELS & CASINO RESORTS FUNDING, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)~~

~~(2)~~TRUMP ~~Financial~~ENTERTAINMENT ~~Information~~RESORTS HOLDINGS, L.P.

~~Financial~~CONSOLIDATED ~~information~~STATEMENTS ~~relating~~OF toPARTNERS’ ~~THCR~~(DEFICIT) ~~Funding~~CAPITAL ~~is as follows:~~

	December 31, 2001		September 30, 2002
			(unaudited)
Total Assets (including THCR Holdings’ 15½% Senior Secured Notes due 2005 (“the Senior Notes”) receivable of $145,000,000 at December 31, 2001 and September 30, 2002) (a)	$	154,252,000	$	151,555,000
Total Liabilities and Capital (including $145,000,000 of Senior Notes due 2005)	$	154,252,000	$	151,555,000

(unaudited)

	Nine Months Ended September 30,
	2001		2002
Interest Income from THCR Holdings	$	16,856,000	$	16,856,000
Interest Expense		16,856,000		16,856,000
Net Income	$	—	$	—

(dollars in thousands)

(a) THCR Enterprises, LLC, a wholly-owned subsidiary of THCR Holdings, purchased $35,500,000 of these Senior Notes during 2000 having an aggregate principal amount of $35,500,000.


	Partners’ Capital			Accumulated Deficit			Total Partners’ (Deficit) Capital
Balance, December 31, 2008	$	603,883		$	(558,048	)	$	45,835
Stock-based compensation expense, net of forfeitures		421			—			421
Partnership distributions		(180	)		—			(180	)
Net loss		—			(65,567	)		(65,567	)

Balance, March 31, 2009	$	604,124		$	(623,615	)	$	(19,491	)

~~(3) Other~~See ~~Assets~~accompanying notes to consolidated financial statements.

~~Plaza Associates is appealing a real estate tax assessment by the City of Atlantic City. At December 31, 2001 and September 30, 2002, other assets include $~~8~~,014,000,~~ ~~which Plaza Associates believes will be recoverable on the settlement of the appeal.~~

~~During~~TRUMP ~~the~~ENTERTAINMENT ~~nine~~RESORTS ~~months ended September 30~~HOLDINGS, ~~2002, Trump Indiana paid sales tax assessed by the State of Indiana relating to its vessel in the amount of $1,800,000~~L. ~~As this assessment is being appealed by Trump Indiana, it has been included in other assets~~P. ~~Trump~~ ~~Indiana believes that the $1,800,000 will be recoverable on settlement of the appeal.~~

~~(4) Volume~~CONDENSED ~~Based~~CONSOLIDATED ~~Cash~~STATEMENTS ~~Rebates~~OF CASH FLOWS

~~During 2001, the Company adopted the provisions of Emerging Issues Task Force~~ (~~“EITF”~~unaudited) Issue No. 22, “Accounting for “Points” and Certain Other Time-Based Sales Incentive Offers, and Offers for Free Products or Services to be Delivered in the Future”. Accordingly, volume-based cash rebates of $32,297,000 and $90,782,000 during the three and nine months ended

11(dollars in thousands)


	Three Months Ended March 31,
	2009			2008
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(65,567	)	$	(24,385	)
Adjustments to reconcile net loss to net cash flows provided by operating activities:
Depreciation and amortization		14,472			17,121
Accretion of interest income related to property tax settlement		(214	)		(235	)
Amortization of deferred financing costs		470			705
Provisions for losses on receivables		3,072			1,613
Stock-based compensation expense		421			727
Valuation allowance—CRDA investments		835			1,012
Non-cash reorganization expense		14,432			—
Gain on sale of assets		—			(37	)
Changes in operating assets and liabilities:
(Increase) decrease in receivables		(6,706	)		717
Decrease (increase) in inventories		791			(323	)
Decrease in property taxes receivable		3,362			—
Decrease in prepaid expenses and other current assets		3,611			4,175
Increase in other assets		(2,510	)		(2,245	)
Increase (decrease) in accounts payable, accrued expenses and other current liabilities		7,675			(688	)
Increase in accrued interest payable		28,399			26,460
Decrease in other long-term liabilities		(171	)		(146	)

Net cash flows provided by operating activities, including discontinued operations		2,372			24,471


CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment, net		(14,357	)		(51,320	)
Purchases of CRDA investments, net		(2,694	)		(2,966	)
Decrease in restricted cash		200			39,035
Capitalized interest on construction in process		—			(2,433	)

Net cash flows used in investing activities, including discontinued operations		(16,851	)		(17,684	)


CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of term loan		(1,232	)		(983	)
Repayments of other long-term debt		(37	)		(1,273	)
Partnership distributions		—			(250	)

Net cash flows used in financing activities, including discontinued operations		(1,269	)		(2,506	)


Net (decrease) increase in cash and cash equivalents		(15,748	)		4,281
Cash and cash equivalents at beginning of period, including cash reflected in assets held for sale		85,206			120,357

Cash and cash equivalents at end of period, including cash reflected in assets held for sale	$	69,458		$	124,638


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	$	10,395		$	9,288
Cash paid for income taxes		—			—
Equipment purchased under capital leases		—			6,000
Decrease in accounts payable for accrued purchases of property and equipment		(8,881	)		(4,648	)

~~TRUMP~~See ~~HOTELS~~accompanying &notes ~~CASINO~~to ~~RESORTS,~~condensed ~~INC.,~~consolidated ~~TRUMP~~financial ~~HOTELS~~statements ~~& CASINO RESORTS HOLDINGS, L.P. AND TRUMP HOTELS & CASINO RESORTS FUNDING, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)~~

~~September~~9 ~~30, 2001 have been reclassified as promotional allowances from gaming expenses.~~

~~During~~NOTES ~~the~~TO ~~third~~CONDENSED ~~quarter~~CONSOLIDATED ofFINANCIAL ~~2002,~~STATEMENTS the Company reclassified certain costs (primarily bus coin) from costs and expenses to promotional allowances to be consistent with prevailing industry practice pursuant to EITF 01-9, “Accounting for Consideration Given by a Vendor to a Customer (Including a Reseller of the Vendor’s Products)” which totaled $5,385,000 and $5,826,000 for the three months ended March 31, 2002 and June 30, 2002 and $7,230,000, $6,929,000, and 7,228,000 for the three months ended March 31, 2001, June 30, 2001, and September 30, 2001, respectively.

(5unaudited) ~~Debt~~ ~~Renegotiation Costs~~

~~The~~(dollars ~~Company~~in ~~previously announced its intention to refinance or modify the terms of THCR’s and its subsidiaries’ public debt issues having an outstanding aggregate principal amount of approximately $1~~thousands,~~700,000,000 as of September 30, 2002. During the nine months ended September 30, 2002, debt~~ ~~renegotiation~~except ~~costs~~share ~~of $3,070,000 were incurred: $1,570,000 by Trump AC on its $1,300,000,000 outstanding debt, $1,133,000 by Trump Marina, $284,000 by Trump Indiana,~~ and ~~$83,000~~per byshare ~~THCR~~data) Holdings. Accordingly, the debt renegotiation costs have been expensed in the accompanying Statements of Operations. THCR and its subsidiaries will continue to seek to refinance certain debt when capital market conditions are favorable.

(61) ~~THCR~~ ~~Management Services~~ General

AsOrganization previously reported, on April 15, 2002, THCR Management received approval from the National Indian Gaming Commission of the Trump 29 Management Agreement with the Tribe. Under the Trump 29 Management Agreement, THCR Management manages the day-to-day operations of the Tribe’s recently renovated and expanded casino renamed Trump 29 Casino, which opened on April 2, 2002. An additional expansion adding dining, entertainment, and more gaming space was completed on September 28, 2002. During the three and nine months ended September 30, 2002, THCR Management earned $693,000 and $1,807,000, respectively, in management fees (included in other revenues) and incurred $190,000 and $312,000, respectively, associated with general and administrative costs and approximately $208,000 and $574,000, respectively, in pre-opening costs (included in general and administrative expenses) pursuant to the Trump 29 Management Agreement.

The accompanying consolidated financial statements include those of Trump Entertainment Resorts, Inc. (7“TER”) ~~New~~, ~~Jersey~~a ~~Corporate~~Delaware ~~Business~~corporation, its ~~Tax~~majority-owned subsidiary, Trump Entertainment Resorts Holdings, L.P. (“TER Holdings”), a Delaware limited partnership, and their respective subsidiaries. Except where otherwise noted, the words “we,” “us,” “our” and similar terms, as well as “Company,” refer to TER and all of its subsidiaries. Through TER Holdings and its wholly-owned subsidiaries, we own and operate the Trump Taj Mahal Casino Resort (“Trump Taj Mahal”), Trump Plaza Hotel and Casino (“Trump Plaza”) and Trump Marina Hotel Casino (“Trump Marina”) in Atlantic City, New Jersey.

OnAs ~~July~~further disclosed in Note 3, ~~2002~~on May 28, ~~the~~2008, ~~State~~Trump ofMarina ~~New~~Associates, ~~Jersey~~LLC ~~passed~~entered ~~the~~into ~~New~~an ~~Jersey~~agreement ~~Tax~~to ~~Act~~sell ~~(the~~Trump ~~“Act”)~~Marina. ~~This~~ ~~Act,~~As ~~among other things~~such, ~~requires~~ ~~the~~certain ~~suspension~~assets ofand ~~the~~liabilities ~~use~~have ofbeen ~~the~~reclassified ~~New~~to ~~Jersey~~assets ~~net~~held ~~operating loss carryforwards~~ for ~~two~~sale ~~years~~ and ~~the~~liabilities related ~~introduction~~to ofassets aheld ~~new~~for ~~alternative~~sale ~~minimum~~on ~~assessment under~~ the ~~New~~Condensed ~~Jersey~~Consolidated ~~corporate~~Balance ~~business~~Sheets. ~~tax~~Trump ~~based~~Marina’s on2009 ~~gross~~results ~~receipts~~of oroperations ~~gross~~have ~~profits,~~been presented as ~~defined. The~~ ~~Act~~discontinued isoperations ~~retroactive~~and toits ~~January~~prior 1,year ~~2002. As~~results ~~a result~~ of ~~the~~operations ~~change~~have inbeen ~~tax~~reclassified ~~law,~~to ~~THCR~~conform ~~has~~to the ~~recorded~~current aperiod ~~charge~~presentation tofor ~~income~~all ~~tax~~periods ~~expense~~presented. ofIn ~~$3,718,000~~accordance ~~for~~with ~~the~~Statement ~~nine~~of ~~months~~Financial ~~ended~~Accounting ~~September~~Standards ~~30,~~(“SFAS”) ~~2002~~No. 144, ~~which~~“Accounting ~~represents~~for the ~~cumulative~~Impairment ~~tax due~~or ~~from~~Disposal ~~January~~of 1,Long-Lived ~~2002~~Assets” to(“SFAS 144”), ~~September~~long-lived ~~30,~~assets ~~2002. This~~held ~~charge~~for ~~was~~sale are recorded ~~beginning~~at in the ~~period~~lower inof ~~which~~carrying ~~the~~value ~~tax~~or ~~law~~fair ~~was~~value ~~passed~~less ~~(third~~costs ~~quarter) pursuant~~ to ~~the~~sell ~~accounting~~and ~~literature~~are inno ~~Financial~~longer ~~Accounting Standards Board Statement Number 109, “Accounting for Income Taxes~~depreciated.”

12Chapter 11 Filing

~~Table~~On February 17, 2009 (the “Petition Date”), TER and certain of ~~Contents~~its direct and indirect subsidiaries (collectively, the “Debtors”) filed voluntary petitions in the United States Bankruptcy Court for the District of New Jersey in Camden, New Jersey (the “Bankruptcy Court”) seeking relief under the provisions of chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). These chapter 11 cases are being jointly administered under the caption In re: TCI 2 Holdings, LLC, et al Debtors, Chapter 11 Case Nos.: 09-13654 through 09-13656 and 09-13658 through 09-13664 (JHW) (the “Chapter 11 Case”).

~~TRUMP~~On ~~HOTELS~~February 20, &2009, ~~CASINO~~the ~~RESORTS,~~Company obtained ~~INC.,~~court ~~TRUMP~~approval ~~HOTELS~~to &continue ~~CASINO~~to ~~RESORTS~~pay ~~HOLDINGS,~~its Lvendors in the ordinary course of business.P. ~~AND~~The ~~TRUMP~~Debtors continue to operate their businesses as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with applicable ~~HOTELS~~provisions &of ~~CASINO~~the ~~RESORTS~~Bankruptcy ~~FUNDING,~~Code ~~INC~~and the orders of the Bankruptcy Court. ~~NOTES~~There TOcan ~~CONDENSED~~be ~~CONSOLIDATED~~no ~~FINANCIAL~~assurance ~~STATEMENTS~~that ~~(unaudited)~~we will be able to successfully develop, execute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 Case that are acceptable to the Bankruptcy Court and our creditors and other parties in interest.

~~(8) Riviera~~We ~~Holdings~~intend ~~Corporation~~to ~~Option~~maintain business operations through the reorganization process. Our liquidity and capital resources, however, are significantly affected by the Chapter 11 Case. Our bankruptcy proceedings have resulted in various restrictions on our activities, limitations on financing and a need to obtain Bankruptcy Court approval for various matters. As a result of the filing of the Chapter 11 Case, the Debtors are not permitted to make any payments on pre-petition liabilities without prior Bankruptcy Court approval. However, the Debtors have been granted relief in order to continue wage and salary payments and other benefits to employees as well as other related pre-petition obligations; to continue to honor customer programs as well as certain related pre-petition customer obligations; and to pay certain pre-petition trade claims held by critical vendors. Under the priority schedule established by the Bankruptcy Code, certain post-petition and pre-petition liabilities need to be satisfied before general unsecured creditors and equity holders are entitled to receive any distribution. At this time, it is not possible to predict with certainty the effect of the Chapter 11 Case on our business or various creditors, or when we will emerge from these proceedings. Our future results depend upon our confirming and successfully implementing, on a timely basis, a plan of reorganization. The continuation of the Chapter 11 Case, particularly if a plan of reorganization is not timely approved or confirmed, could further adversely affect our operations.

OnDonald ~~July~~J. ~~10, 2002, consistent with the Contribution Agreement, dated June 12, 1995, between~~ Trump ~~and THCR Holdings, Trump granted, at no cost, to THCR Holdings a one-year option (the “Option”) to purchase Trump~~’s ~~350,000~~Abandonment ~~shares~~ of ~~common~~Limited ~~stock~~Partnership ~~(the~~Interests ~~“RHC~~in ~~Shares”)~~TER ~~of Riviera~~ Holdings ~~Corporation (“RHC”). RHC is the owner and operator of the Riviera Hotel~~ & Casino located in Las Vegas, Nevada. The Option is exercisable at a purchase price equal to the greater of: (i) Trump’s cost of acquiring the RHC Shares ($2,275,000 plus incurred brokerage commissions) or (ii) the fair market value of the RHC Shares based upon the 20 trading day average closing price of the shares of common stock of RHC as reported on the American Stock Exchange preceding the exercise of the Option. On July 10, 2002, Trump and THCR jointly filed a Schedule 13D therein reflecting Trump’s purchase of the RHC Shares and THCR’s beneficial ownership of the RHC Shares by virtue of the Option.

By letter dated February 13, 2009, Donald J. Trump (9“Mr. Trump”) notified TER that he had abandoned any and all of his 23.5% direct limited partnership interest in TER Holdings and relinquished any and all rights under the Fourth Amended and Restated Agreement of Limited Partnership of TER Holdings (the “Partnership Agreement”) or otherwise with respect to TER Holdings and Mr. ~~Long-Term~~Trump’s ~~Debt~~limited partnership interest. Pursuant to the terms of the Partnership Agreement, the prior written consent of TER, as the general partner of TER Holdings, is required for a limited partner to withdraw. TER has not consented to a withdrawal by Mr. Trump from TER Holdings. Accordingly, TER reserves all rights and remedies against Mr. Trump with respect to his purported abandonment of his limited partnership interest.

On June 12, 2002, Castle Associates entered into a $70,000,000 term credit facility (the “Term Credit Facility”) which matures on November 1, 2003 and bears interest at a rate based on the Eurodollar rate (LIBOR based) (7.3125% as of September 30, 2002). The Term Credit Facility is secured by substantially all of Castle Associates’ assets on a first priority basis. On July 12, 2002, the net proceeds from the Term Credit Facility were used to redeem the $62,000,000 10¼% ~~Senior Secured Notes due 2003 (the “Castle Senior Notes”) and the $5,000,000 10¼% Senior Secured Notes due 2003 (the “Castle Working Capital Loan”).~~

~~THCR~~(2) ~~Management~~Summary ~~was a participant in the construction loan obtained by the Tribe that financed the construction and renovation~~ of ~~the~~Significant ~~Trump~~Accounting 29 Casino. On September 12, 2002, THCR Management assigned its interest in the Tribe’s construction loan to a group of unrelated third party lenders. The proceeds of such assignment were used by THCR Management, together with the proceeds of the loan described below, to satisfy THCR Management’s outstanding indebtedness to the original lenders that funded THCR Management’s portion of the Tribe’s construction loan. In connection with the repayment of this debt, the Company wrote off approximately $1,700,000 of unamortized deferred financing fees associated with this debt. The Company, which adopted the provisions of FAS 145, “Recission of FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and Technical Corrections”, during the quarter ended September 30, 2002, has included the write-off as a component of interest expense.Policies

~~THCR~~Basis Management entered into a loan agreement, dated September 12, 2002 (the “FNB Loan”) with First National Bank (“FNB”) pursuant to which FNB agreed to loan $2.2 million to THCR Management. The FNB Loan bears interest at the rate of ~~nine~~Presentation ~~percent (9.0%) per annum and matures in April 2003. The FNB Loan is secured by a pledge of the management fee payable to THCR Management under the Trump 29 Management Agreement.~~

The accompanying condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the United States Securities and Exchange Commission (10“SEC”) for interim financial reporting. Accordingly, certain information and note disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted. The accompanying condensed consolidated financial statements have been prepared without audit. In the opinion of management, all adjustments, including normal recurring adjustments necessary to present fairly the financial position, results of operations and cash flows for the periods presented, have been made. The results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December ~~Indiana~~31, ~~Dockside~~2008 ~~Gaming~~as filed with the SEC and all of our other filings, including Current Reports on Form 8-K, filed with the SEC after such date and through the date of this report, which are available on the SEC’s website at www.sec.gov or our website at www.trumpcasinos.com.

OnThe ~~August~~condensed consolidated 5,financial ~~2002,~~statements ~~dockside~~include ~~gaming~~our ~~was~~accounts ~~implemented~~and atthose ~~Trump~~of ~~Indiana~~our ~~pursuant~~controlled tosubsidiaries ~~recently~~and ~~enacted legislation~~partnerships. ~~Dockside~~ ~~gaming~~We ~~eliminates~~have ~~the~~eliminated ~~requirement~~all ~~to cruise,~~intercompany ~~provides~~transactions. ~~patrons~~We ~~continual~~view ~~access~~each toof ~~the~~our ~~Trump~~casino ~~Indiana~~properties ~~vessel~~as ~~during~~operating ~~gaming~~segments ~~hours~~ and ~~increases~~all ~~the~~such ~~gaming~~operating segments ~~day~~have bybeen aggregated into one ~~hour~~reporting segment.

13Accounting Impact of Chapter 11 Case

~~Table~~The accompanying condensed consolidated financial statements have been prepared in accordance with AICPA Statement of ~~Contents~~Position (“SOP”) No. 90-7, “Financial Reporting by Entities in Reorganization under the Bankruptcy Code” (“SOP 90-7”) and on a going concern basis, which contemplates continuity of operations, realization of assets and liquidation of liabilities in the ordinary course of business. The ability of the Company, both during and after the Chapter 11 Case, to continue as a going concern is contingent upon, among other things; (i) the ability of the Company to generate cash from operations and to maintain adequate cash on hand; (ii) the resolution of the uncertainty as to the amount of claims that will be allowed; (iii) the ability of the Company to confirm a plan of reorganization under the Bankruptcy Code and obtain any debt and equity financing which may be required to emerge from bankruptcy protection; and (iv) the Company’s ability to achieve profitability. There can be no assurance that the Company will be able to successfully achieve these objectives in order to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result should the Company be unable to continue as a going concern.

Liabilities subject to compromise in the Condensed Consolidated Balance Sheets relate to certain of the liabilities of the Debtors incurred prior to the ~~ITEM~~Petition ~~2—MANAGEMENT’S~~Date. ~~DISCUSSION~~In ~~AND~~accordance ~~ANALYSIS~~with OFSOP ~~FINANCIAL~~90-7, ~~CONDITION~~liabilities ~~AND RESULTS~~subject OFto ~~OPERATIONS~~compromise are recorded at the estimated amount that is expected to be allowed as pre-petition claims in the Chapter 11 Case, even if they may be settled for lesser amounts in the future. Adjustments may result from negotiations, actions of the Bankruptcy Court, further developments with respect to disputed claims, rejection of executory contracts and unexpired leases, proofs of claim, implementation of the plan of reorganization or other events. Liabilities subject to compromise consisted of the following:

This report includes “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this report regarding the prospects of our industry or our prospects, plans, financial position or business strategy, may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “plans,” “forecasts,” “continue” or “could” or the negatives of these terms or variations of them or similar terms. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. Important factors that could cause actual results to differ materially from our expectations include business, competition, regulatory and other uncertainties and contingencies discussed in this report that are difficult or impossible to predict and which are beyond our control. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements included in this document. These forward-looking statements speak only as of the date of this report. We do not intend to update these statements unless the securities laws require us to do so.


	March 31, 2009		December 31, 2008
Senior Notes	$	1,248,969	$	1,248,969
2007 Credit Facility		487,525		488,757
Accrued interest payable related to Senior Notes and 2007 Credit Facility		90,278		62,459

	$	1,826,772	$	1,800,185

InAll ~~this~~other ~~section,~~liabilities ~~the~~are ~~words~~expected ~~“Company,” “we,” “our,” “ours,” and “us” refer~~ to ~~Trump~~be ~~Hotels~~satisfied & Casino Resorts, Inc. (“THCR”) and its subsidiary, Trump Hotels & Casino Resorts Holdings, L.P. (“THCR Holdings”) and THCR Holdings’ wholly-owned subsidiaries, unless otherwise noted. We, through one or more subsidiaries, own and operate four casinos. Three of the four casinos are located in ~~Atlantic City, New Jersey: (i)~~ the ~~Trump~~ordinary ~~Plaza~~course ~~Hotel~~of ~~and Casino (“Trump Plaza”), (ii) the Trump Taj Mahal~~business. ~~Casino Resort (the “Taj Mahal”) and (iii) the Trump Marina Hotel Casino (“Trump Marina~~Accordingly,” ~~and together with~~ the ~~Trump~~Company ~~Plaza~~has ~~and~~not ~~the~~reflected ~~Taj~~any ~~Mahal,~~of ~~“the~~these ~~Trump~~liabilities ~~Atlantic~~as ~~City Properties”). The~~subject ~~fourth~~to iscompromise ~~a riverboat casino docked~~ in ~~Buffington Harbor on Lake Michigan in Indiana (~~the ~~“Indiana~~accompanying ~~Riverboat,”~~Condensed ~~and~~Consolidated ~~together~~Balance ~~with~~Sheets. ~~the~~The ~~Trump~~Company ~~Atlantic~~believes ~~City~~this ~~Properties,~~classification ~~the~~provides ~~“Trump~~an ~~Casino~~appropriate ~~Properties”). We~~presentation ~~also~~of ~~manage,~~liabilities ~~through THCR~~that ~~Management,~~are ~~Trump~~subject ~~29 Casino located in the Palm Springs, California area pursuant~~ to ~~the~~and ~~Trump 29 Management Agreement with the Tribe. Terms~~ not ~~defined~~subject ~~in this section shall have the meanings ascribed~~ to ~~them elsewhere in this Quarterly Report on Form 10-Q~~compromise.

~~General~~11

~~Our~~The ~~business~~Company iswrote ~~subject~~off as reorganization expense its deferred financing costs related to aits ~~variety~~Senior Notes and 2007 Credit Facility (both as defined below) in order to record its debt instruments at the amount of ~~risks~~the ~~and~~claim ~~uncertainties~~expected to be allowed by the Bankruptcy Court in accordance with SOP 90-7. In addition, ~~some~~reorganization ofexpense for the periods presented includes professional fees and other expenses incurred which are ~~discussed below~~directly associated with the bankruptcy process.

The ~~Company~~following table ~~Has~~summarizes ~~Substantial~~reorganization ~~Indebtedness.~~expense for the three months ended March 31, 2009 and 2008:

The Company has substantial indebtedness. At September 30, 2002, the Company’s long-term debt was approximately $1.9 billion and its ratio of debt to capital was approximately 20.3 to 1. Interest expense as a percentage of net revenues was 17.7% and 18.4% for the nine months ended September 30, 2002 and 2001, respectively.


	Three Months Ended March 31,
	2009		2008
Deferred financing costs	$	14,432	$	—
Professional fees and other expenses		4,380		—

	$	18,812	$	—

The Company previously announced its intention to refinance or modify the terms of THCR’s and its subsidiaries’ public debt issues. On July 12, 2002, Castle Associates refinanced the Castle Senior Notes and Castle Working Capital Loan with the net proceeds of the Term Credit Facility. The primary reason to refinance or modify THCR’s and its subsidiaries public debt issues is ~~to extend~~required ~~their maturity date (especially of the debt maturing in 2003) and~~ to ~~reduce~~ ~~the~~accrue ~~high levels of~~ interest expense ~~associated~~during ~~with such indebtedness. Reducing interest expense could permit~~ the ~~Company,~~Chapter ~~among~~11 ~~other~~Case ~~things, to devote~~only ~~more resources~~ to ~~capital expenditures at~~ the ~~Trump~~extent that ~~Casino~~it ~~Properties. Capital~~is ~~expenditures,~~probable that such asinterest ~~room~~will ~~refurbishments,~~be ~~amenity~~paid ~~upgrades~~pursuant ~~and new gaming equipment, are necessary from time~~ to ~~time to preserve~~ the ~~competitiveness of the Trump Casino Properties~~proceedings. The ~~Atlantic~~Company ~~City~~recognized ~~market~~interest isexpense ~~very~~subsequent ~~competitive and is anticipated~~ to ~~become more competitive in~~ the ~~future,~~Petition ~~especially~~Date ~~when the Borgata opens~~ in ~~2003~~accordance ~~(as~~with ~~discussed below). Management believes that~~ the ~~Company must provide for capital expenditures that it believes are necessary to compete effectively. Management believes, however, that, based upon its~~ current ~~cash~~terms ~~flow~~of ~~forecasts for 2002, THCR and~~ its ~~subsidiaries will have sufficient cash flows to meet their respective~~ debt ~~service~~ and ~~operating~~capitalized ~~expense~~lease ~~requirements throughout 2002~~obligations. ~~See~~ ~~“Liquidity and Capital Resources.”~~

~~The~~Noncontrolling ~~ability~~Interest of THCR Holdings and its subsidiaries to service the debt on which they are obligated depends primarily on the ability of the Trump Casino Properties to generate cash from operations and Trump 29 Casino to generate management fees sufficient for such purposes. The Trump Atlantic City Properties themselves have substantial indebtedness and debt service requirements which, in ~~the case~~Subsidiaries of Castle Associates, mature in 2003. The future operating performance of the Trump Casino Properties is subject to general economic conditions, industry conditions, including competition and regulatory matters, and numerous other factors, many of which are unforeseeable or are beyond the control of the Trump Casino Properties. There can be no assurance that the future operating performance of the Trump Casino Properties will be sufficient to generate the cash flows required to meet the debt service obligations of the Trump Casino Properties or THCR Holdings. The ability of the Trump Casino Properties and THCR Holdings to pay the principal amount of their public debt at maturity (whether scheduled or by acceleration thereof) is primarily dependent upon their ability to obtain refinancing. There is also no assurance that the general state of the economy, the status of the capital markets generally, or the receptiveness of the capital markets to the gaming industry in general or to the Company in particular will be conducive to refinancing debt at any given time or on more favorable terms.

~~Castle~~On ~~Associates~~January 1, ~~has~~2009, ~~substantial~~we ~~indebtedness~~adopted ~~maturing~~SFAS No. 160, “Noncontrolling Interests in ~~2003~~Consolidated Financial Statements - An amendment of ARB No. If 51” it(“SFAS ~~were~~160”). ~~unable~~SFAS 160 amends ARB No. 51 to ~~refinance~~establish accounting ~~its~~and ~~indebtedness~~reporting standards for ~~any~~the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. It clarifies that a noncontrolling interest in a subsidiary, which is sometimes referred to as minority interest, is an ownership interest in the consolidated entity that should be reported as equity in the consolidated financial statements. Among other requirements, SFAS 160 requires consolidated net income to be reported including the amounts attributable to both the parent and the noncontrolling interest. It also requires disclosure, on the face of the consolidated income statement, of the amounts of consolidated net income attributable to the parent and to the noncontrolling interest. We have retrospectively applied the presentation and disclosure provisions of SFAS 160 and have adopted its other provisions prospectively. We present Mr. Trump’s limited partnership interest in TER Holdings as a noncontrolling interest. See “Donald J. Trump’s Abandonment of Limited Partnership Interest in TER Holdings” in Note 1.

14Reclassifications

~~Table~~Certain ofreclassifications ~~Contents~~have been made to the prior period financial statements to conform to the current period presentation.

~~reason,~~(3) itTrump ~~would~~Marina ~~likely~~Assets ~~have~~Held afor ~~material~~Sale ~~adverse~~and ~~effect~~Discontinued ~~on our financial condition.~~Operations

~~The~~On ~~ability~~May 28, of2008, ~~the~~ Trump ~~Casino~~Marina ~~Properties~~Associates, toLLC ~~distribute~~(“Seller”) ~~funds~~entered tointo ~~THCR~~an ~~Holdings~~Asset ~~for~~Purchase ~~purposes~~Agreement of(the ~~THCR~~“Marina ~~Holdings~~Agreement”) ~~making~~to ~~interest~~sell ~~payments~~Trump onMarina ~~its~~(the ~~indebtedness is~~“Property”) to Coastal Marina, ~~also~~LLC ~~limited~~(“Buyer”), byan ~~various covenants~~affiliate ~~that~~of ~~bind~~Coastal ~~such~~Development, ~~companies~~LLC (“Coastal”). Pursuant to the Marina Agreement, ~~including~~(1) at ~~financial~~the ~~ratios~~closing, ~~that~~Buyer ~~require~~will ~~certain~~acquire ~~levels~~substantially all of ~~cash~~the ~~flow~~assets beof, ~~achieved~~and aswill aassume ~~condition~~certain liabilities related to, the ~~distribution~~business ofconducted ~~funds~~at tothe ~~THCR~~Property ~~Holdings. Under~~and (2) at and subject to such ~~restrictions~~closing, ~~there~~unrelated ~~can be~~existing nolitigation ~~assurances~~between ~~that~~the ~~THCR~~Company ~~Holdings~~and ~~will~~Coastal (see Note 9) is to be ~~provided~~settled. ~~with~~Upon ~~funds~~entering ~~from~~into ~~its~~the ~~subsidiaries~~Marina ~~sufficient~~Agreement, toBuyer ~~pay~~placed ~~interest~~into onescrow ~~its~~a $15,000 ~~indebtedness~~deposit iftoward ~~operating~~the ~~results~~purchase ~~were~~price to(the ~~deteriorate~~“Original Marina Deposit”).

WeOn DoOctober 28, ~~Not~~2008, ~~Know~~the ~~How~~parties entered into an amendment to the ~~Borgata~~Marina Agreement (the “Marina Amendment”) to modify certain terms and conditions of the Marina Agreement. Pursuant to the Marina Amendment the parties waived the October 28, ~~When~~2008 ~~Opened~~deadline for Buyer to provide commitment letters to Seller for the financing of the acquisition of the Property. In addition, ~~Will~~the ~~Affect~~parties Usagreed to amend certain provisions of the Marina Agreement, including, but not limited to the following: (1) the aggregate purchase price payable for the Property was decreased from $316,000 to $270,000; (2) any potential reduction to the purchase price based on the EBITDA of the business conducted at the Property for the twelve month period last completed prior to the closing date of the transaction was eliminated, however, the purchase price remains subject to a working capital adjustment; (3) Seller may terminate the Marina Agreement if the transaction does not close by May 28, 2009, unless such date is extended by no more than 60 days to obtain regulatory approval and all other closing conditions have been met; and (4) the Original Marina Deposit held in escrow, together with any interest earned thereon, was released to Seller immediately and an additional $2,000 deposit was placed in escrow, for a total deposit towards the purchase price of $17,000.

In12 September 2000, Boyd Gaming and MGM Mirage commenced their joint development of a 25-acre site located in the Marina District of Atlantic City for the construction of the “Borgata,” a casino expected to feature a 40-story tower with 2,010 rooms and suites, as well as a 135,000 square-foot casino, restaurants, retail shops, a spa and pool, and entertainment venues. Construction of the Borgata is scheduled to be completed in the third or fourth quarter of 2003. While we believe that the opening of the Borgata will attract additional visitors to Atlantic City, especially to the Marina district which could benefit our Trump Marina property, it is also possible that the Borgata could have an adverse effect on the business and operations of the Trump Atlantic City Properties. This potential adverse effect could include a reduction in net revenues caused by a loss of gaming patrons. Also, substantial new expansion and development activity has recently been completed, is under construction or has been announced in Atlantic City, which further intensifies competitive pressure in the Atlantic City market and which could also have an adverse effect on our patronage and revenues. See “Liquidity and Capital Resources.”

The closing is subject to the satisfaction of certain conditions, including receipt of approvals from New ~~York~~Jersey ~~Has~~governmental ~~Enacted~~authorities. ~~Gaming~~There ~~Legislation~~can ~~Which~~be ~~May~~no ~~Harm~~assurance ~~Our~~that the transaction for the sale of Trump ~~Atlantic~~Marina ~~City~~will ~~Properties~~close. ~~and~~The ~~Other~~Marina ~~States~~Amendment ~~May~~provides Dothat, Sosubject Into ~~The~~certain ~~Future~~exceptions, the Company’s recourse against the Buyer if the transaction fails to close will be limited to the Buyer’s $2,000 deposit currently held in escrow.

~~In October~~Assets ~~2001,~~held ~~the~~for ~~New~~sale ~~York State legislature passed extensive legislation that could adversely affect the Company. The legislation permits three new casinos in western New York, one in Niagara Falls, one in Buffalo~~ and ~~one on land owned by the~~ ~~Seneca~~liabilities ~~Indian~~related ~~Nation, all of which would be owned by the Seneca Indian Nation. The legislation also permits up~~ to ~~three~~assets ~~casinos~~held infor ~~the~~sale ~~Catskills~~pertaining ~~in Ulster and Sullivan counties, also~~ to beTrump ~~owned~~Marina by Native Americans, which could open as early as mid-2005. In addition, slot machines would be allowed to be placed in Indian-owned casinos. Video lottery terminals would be installed in five horse racing tracks across the State of New York and, if local governments approve, at ~~certain other tracks. Finally~~March 31, ~~the~~2009 ~~law provides for New York joining the Powerball lottery that operates in 26 states with large jackpots. The net effect of these facilities~~ and ~~other items~~December 31, ~~when~~2008 operational, on Atlantic City cannot be predicted. The Company believes, however, that a substantial amount of existing and potential new gaming customers could patronize such facilities instead of Atlantic City, at least occasionally. On January 29, 2002, a lawsuit was commenced contesting the above legislation package on the grounds that certain of its provisions were ~~adopted~~as infollows: ~~violation of the State’s constitution. The likely outcome of this lawsuit cannot be ascertained at this time.~~

We also believe that Maryland and Virginia are among the other states currently contemplating some form of gaming legislation. In addition, several legislative proposals have been introduced in Pennsylvania that would potentially allow for a wide range of gaming activities, including riverboat gaming, slots at racetracks, video lottery terminals at liquor stores and the formation of a gaming commission. The results of the recent gubernatorial elections in Pennsylvania and Maryland may also increase the likelihood of gaming legislation in such states. Since our market is primarily a drive-to market, legalized gambling in one or more states neighboring or within close proximity to New Jersey could have a material adverse effect on the Atlantic City gaming industry overall, including THCR and the Trump Atlantic City Properties.


	March 31, 2009		December 31, 2008
Assets held for sale:
Cash and cash equivalents	$	5,833	$	8,973
Property and equipment, net		227,988		227,252
Other assets		1,853		3,035

Total assets held for sale	$	235,674	$	239,260


Liabilities related to assets held for sale:
Cash deposit received pursuant to Marina Amendment	$	15,196	$	15,196
Accrued expenses		3,396		3,467
Deposits and other		1,719		349

Total liabilities related to assets held for sale	$	20,311	$	19,012

~~Our~~The ~~Business~~following istable ~~Subject~~provides to a ~~Variety~~summary of ~~Other~~Trump ~~Risks~~Marina’s ~~and~~discontinued ~~Uncertainties.~~operations presented in our statements of operations for all periods presented:

Our financial condition and results of operations could be affected by many events that are beyond our control, such as (i) capital market conditions which could affect our ability to raise capital for refinancing debt or pursuing other alternatives, (ii) future acts of terrorism and their impact on capital markets, the economy, consumer behavior and operating expenses, including insurance premiums, (iii) war, including the possible invasion of Iraq, (iv) competition from existing and potential new competitors in Atlantic City and other markets, which is likely to increase over the next five years, (v) regulatory changes, (vi) state tax law changes that increase the tax liability of the Company, (vii) possible increases in gasoline prices which could


	Three Months Ended March 31,
	2009			2008
Net revenues	$	37,368		$	50,282
Depreciation and amortization		186			3,521
Loss from discontinued operations before income taxes		(2,742	)		(627	)

15In accordance with SFAS 144, long-lived assets that are held for sale are reported at the lower of the assets’ carrying amount or fair value less costs related to the assets’ disposition and are no longer depreciated. Failure to close a transaction pursuant to the amended Marina Agreement may result in long-lived asset impairment charges.

~~Table~~(4) ~~of Contents~~Debt

~~discourage~~Our ~~auto~~debt ~~travel~~consists ~~to Atlantic City, and (viii) adverse or unfavorable weather conditions. Good weather is particularly important to the relative performance~~ of ~~our Trump Atlantic City Properties in~~ the ~~winter months and our improved performance in the first quarter of 2002 is partially attributable to mild weather conditions in the Northeast~~following: ~~during such period, as well as to expense reduction. There can be no assurance that winter conditions will be as benign in a given winter.~~

In connection with insurance renewals subsequent to September 11, 2001, the availability of insurance coverage for certain types of damages or occurrences has been adversely affected. Consequently, the Company is self-insured for certain risks. The lack of insurance for certain types or levels of risk could expose us to significant losses in the event that an uninsured catastrophe occurred.


	March 31, 2009			December 31, 2008
Senior Secured Credit Facility:
Term Loan - subject to compromise, matures December 21, 2012, interest and principal payments due quarterly at LIBOR plus 5.2%, which includes 2% default interest at March 31, 2009 (8.2% at March 31, 2009)	$	487,525		$	488,757
Senior Secured Notes - subject to compromise, due June 1, 2015, interest payable semi-annually at 8.5%, interest payments due June 1 and December 1		1,248,969			1,248,969
Other:
Capitalized lease obligations, payments due at various dates from 2009 through 2028, secured by slot and other equipment, interest at 4.3% to 12.0%		6,087			6,118

Total long-term debt		1,742,581			1,743,844
Less: current maturities		(1,736,685	)		(1,737,920	)

Long-term debt, net of current maturities	$	5,896		$	5,924

~~Critical~~Event ~~Accounting~~of ~~Policies~~Default – As discussed in Note 1, on February 17, 2009, the Debtors filed voluntary petitions in the Bankruptcy Court seeking relief under the provisions of chapter 11 of the Bankruptcy Code. The filing of the Chapter 11 Case constituted an event of default and therefore triggered repayment obligations under the $493,250 senior secured

~~The~~13 preparation of our financial statements in conformity with generally accepted accounting principles in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Our estimates, judgments and assumptions are continually evaluated based on available information and experience. Because of the use of estimates inherent in the financial reporting process, actual results could differ from those estimates.

~~These~~ facility ~~condensed~~entered ~~consolidated~~into ~~financial~~by ~~statements~~the ~~should be~~Company ~~read~~on inDecember 21, ~~conjunction~~2007 ~~with~~(the “2007 Credit Facility”) and the ~~consolidated~~$1,250,000 ~~financial~~of ~~statements~~Senior Secured Notes issued by TER Holdings and ~~notes~~its ~~thereto~~wholly ~~included~~owned infinance ~~our~~subsidiary, ~~Annual~~Trump ~~Report~~Entertainment Resorts Funding, Inc. (“TER Funding”) on ~~Form~~May 20, 102005 (the “Senior Notes”). As a result, all indebtedness outstanding under the Senior Notes and the 2007 Credit Facility (which has a cross-Kdefault ~~for~~provision with the ~~year~~Senior ~~ended~~Notes) ~~December~~became 31automatically due and payable. Under the Bankruptcy Code, ~~2001~~actions ~~filed~~to ~~with~~collect pre-petition indebtedness, as well as most pending litigation, are stayed and other contractual obligations against the ~~SEC~~Debtors generally may not be enforced. Absent an order of the Bankruptcy Court, substantially all pre-petition liabilities are subject to settlement under a plan of reorganization to be approved by the Bankruptcy Court. Consequently, the Company has classified the indebtedness under the Senior Notes and the 2007 Credit Facility within current liabilities in its Condensed Consolidated Balance Sheets.

16In addition, until such time as no event of default exists, (i) the interest rate on the Senior Notes increases by an additional 1% per annum in excess of the 8.5% interest rate on any overdue principal or interest relating to the Senior Notes and (ii) the interest rate under the 2007 Credit Facility increases by an additional 2% in excess of the otherwise applicable interest rate on amounts outstanding under the 2007 Credit Facility.

~~Table~~Senior Secured Credit Facility - On December 21, 2007, TER and TER Holdings entered into the 2007 Credit Facility. Under the 2007 Credit Facility, TER Holdings borrowed $393,250 which was to be used to (i) refinance all amounts outstanding under its Credit Agreement dated May 20, 2005 (the “2005 Credit Facility”), (ii) pay fees and expenses incurred in connection with the 2007 Credit Facility and the refinancing of ~~Contents~~the 2005 Credit Facility, (iii) fund construction of the Chairman Tower at Trump Taj Mahal, and (iv) provide financing for working capital, capital expenditures and other general corporate purposes.

~~Financial~~In ~~Condition~~connection -with the Marina Agreement, TER Holdings entered into an amendment, dated as of May 29, 2008, to the 2007 Credit Facility pursuant to which: (i) the 2007 Credit Facility lenders consented to the sale of Trump Marina, subject to the satisfaction of certain conditions, (ii) the applicable interest rate margins payable on amounts outstanding under the 2007 Credit Facility will increase upon the closing of the transactions contemplated by the Marina Agreement, and (iii) TER Holdings agreed to pay amendment fees equal to one percent of the amount of the 2007 Credit Facility. In connection with the Marina Amendment, TER Holdings entered into an amendment, dated November 5, 2008, to the 2007 Credit Facility whereby the lenders consented to the Marina Amendment and the Company agreed to pay an extension fee if the closing of the transaction is extended beyond May 2009.

~~Liquidity~~Borrowings under the 2007 Credit Facility are secured by a first priority security interest in substantially all of the assets of TER Holdings and ~~Capital~~it ~~Resources~~subsidiaries. TER Holdings’ obligations under the 2007 Credit Facility are guaranteed by TER and certain of its direct and indirect subsidiaries. We and our subsidiaries are subject to a number of affirmative and negative covenants. The 2007 Credit Facility restricts our ability to make certain distributions or pay dividends.

~~Cash~~Senior ~~flows~~Secured ~~from~~Notes ~~operating~~- ~~activities~~On ofMay 20, ~~the~~2005, ~~Company’s~~TER ~~owned~~Holdings and ~~managed~~TER ~~casino~~Funding ~~properties~~issued ~~are~~ the ~~Company’s~~Senior ~~primary source of liquidity and capital resources~~Notes. ToThe aSenior ~~lesser~~Notes ~~extent,~~were ~~the~~used ~~Company relies on capital leases for its capital resource needs. The Company’s ability~~ to pay ~~borrow~~distributions ~~funds~~under ~~for~~the ~~its~~Second ~~liquidity~~Amended and ~~capital~~Restated ~~resources~~Joint ~~needs~~Plan isof ~~severely~~Reorganization, ~~restricted~~dated byas ~~covenants~~of inMarch 30, ~~the various~~2005, ~~indentures~~as ~~governing~~amended ~~its~~(the ~~public~~“2005 ~~debt~~Plan”) ~~issues~~of ~~and~~Trump byHotels & ~~its~~Casino ~~already~~Resorts, ~~high~~Inc. ~~levels~~(“THCR”), ofour ~~indebtedness~~predecessor company. ~~Sources~~ ofThe ~~the~~Senior ~~Company’s~~Notes ~~short-term~~due ~~and~~June 1, ~~long-term liquidity include casino gaming revenues and room~~2015, ~~food~~bear ~~and~~interest ~~beverage~~at ~~sales~~8.5% ~~Although~~per weannum, ~~expect~~subject ~~the Company~~ to ~~have sufficient liquidity from~~ the ~~operating~~increase ~~activities~~by ofan ~~the~~additional ~~Trump~~1% per ~~Casino~~annum ~~Properties~~as todiscussed ~~meet~~above. ~~its short-term obligations~~$1,031 ~~there can be no assurances in this regard. A variety~~ of ~~factors, including a decrease or change in~~ the ~~demand~~Senior ~~for~~Secured ~~our~~Notes ~~services,~~were ~~could~~returned ~~have~~to aus ~~material~~under ~~adverse~~the ~~effect~~terms onof ~~our~~the ~~liquidity. See~~2005 Plan ~~“General”~~and ~~above~~retired.

~~The Trump~~$730,000 ~~Atlantic~~of ~~City~~the ~~Properties~~aggregate ~~compete~~principal ~~with~~amount ~~other Atlantic City casino/hotels on the basis~~ of the ~~quality~~Senior ofNotes ~~their~~is ~~guests’~~nonrecourse ~~experience. We seek~~ to ~~provide~~the ~~high-quality~~issuers ~~service~~ and ~~amenities~~to ~~and~~the apartners ~~first~~of ~~class~~TER Holdings ~~casino~~(the ~~gaming~~“Qualified ~~experience~~Portion”). ~~In a competitive marketplace like Atlantic City~~$520,000 of the ~~ability~~aggregate toprincipal ~~offer~~amount aof ~~high-quality~~the ~~casino~~Senior ~~gaming~~Notes ~~experience~~ is ~~largely~~recourse ~~dependant~~to ~~upon~~ the ~~quality~~issuers ofand ~~customer~~to ~~service~~TER, ~~the~~in ~~array~~its ofcapacity ~~games~~as ~~offered,~~general ~~the~~partner ~~attractiveness~~ of aTER ~~casino/hotel~~Holdings ~~and on extent and quality of~~ (the ~~facilities~~“Non-Qualified ~~and amenities~~Portion”).

~~Because~~The ~~the~~Non-Qualified ~~Company~~Portion ~~has substantial indebtedness~~ and ~~related interest~~Qualified ~~expenses,~~Portion ~~its~~are ~~capital expenditures~~recalculated inon ~~recent~~a ~~years~~periodic ~~has~~basis ~~been~~no ~~limited. Moreover,~~less ~~the~~frequently ~~Company~~than ~~has~~annually ~~not~~based ~~been~~on ~~able~~certain ~~to pursue various capital expansion plans~~tax considerations, ~~such~~provided asthat ~~the~~in ~~addition~~no ofevent ~~more~~will ~~hotel rooms. Capital expenditures for~~ the ~~Trump~~Qualified ~~Casino~~Portion ~~Properties~~exceed ~~for the nine months ended September 30~~$730,000 ~~2001~~in ~~and~~aggregate ~~2002~~principal ~~are~~amount asof ~~follows:~~Senior Notes.

~~TRUMP~~TER Funding ~~HOTELS~~has ~~AND~~no ~~CASINO~~assets, ~~RESORTS~~operations, ~~CONSOLIDATING~~revenues ~~CAPITAL~~or ~~EXPENDITURES~~cash ~~(IN~~flows ~~THOUSANDS~~other than those related to the issuance, administration and repayment of our Senior Notes. All other subsidiaries of TER Holdings, except a minor non-guarantor subsidiary (the “Guarantors”), are guarantors of the Senior Notes on a joint and several basis. TER Holdings and TER Funding have no independent assets or operations from the Guarantors. Therefore, condensed consolidating financial statements are not presented.

		TAJ ASSOCIATES		PLAZA ASSOCIATES		TOTAL TRUMP AC		TRUMP MARINA		TRUMP INDIANA		THCR HOLDINGS		THCR CONSOL.
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001
Purchase of Property & Equipment		$	3,962	$	1,626	$	5,588	$	3,420	$	1,728	$	124	$	10,860
Capital Lease Additions (A)			6,128		6,468		12,596		5,200		1,332		—		19,128
Total Capital Expenditures		$	10,090	$	8,094	$	18,184	$	8,620	$	3,060	$	124	$	29,988
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2002
Purchase of Property & Equipment		$	10,021	$	4,384	$	14,405	$	3,913	$	8,029	$	61	$	26,408
Capital Lease Additions (A)			8,269		8,341		16,610		3,011		10		—		19,631
Total Capital Expenditures		$	18,290	$	12,725	$	31,015	$	6,924	$	8,039	$	61	$	46,039
(A)	Capital lease additions for Trump Casino Properties were principally slot machines.

The Senior Notes are senior obligations of the issuers and are guaranteed on a senior basis by the Guarantors and rank senior in right of payment to the issuers’ and Guarantors’ future subordinated indebtedness. The Senior Notes are secured by substantially all of our real property and incidental personal property, subject to liens securing amounts borrowed under the 2007 Credit Facility and certain permitted prior liens. Because amounts borrowed under the 2007 Credit Facility are secured by substantially all the assets of the issuers and the Guarantors on a priority basis, the Senior Notes are effectively subordinated to amounts borrowed under the 2007 Credit Facility.

1714

~~Table~~(5) ofEarnings ~~Contents~~Per Share

~~Results~~The computations of ~~Operations:~~basic ~~Operating~~and diluted ~~Revenues~~net ~~and~~loss ~~Expenses~~per share attributable to TER common stockholders are as follows:

All business activities of THCR and THCR Holdings are conducted by Plaza Associates, Taj Associates, Castle Associates (d/b/a Trump Marina) and Trump Indiana.


	Three Months Ended March 31,
(in thousands, except share and per share data)	2009			2008
Numerator for basic and diluted loss per share:
Loss from continuing operations	$	(48,057	)	$	(18,168	)
Loss from discontinued operations		(2,098	)		(480	)

Net loss	$	(50,155	)	$	(18,648	)


Denominator for basic and diluted loss per share:
Weighted average shares outstanding		31,717,098			31,548,391


Basic and diluted net loss per share:
Loss from continuing operations	$	(1.52	)	$	(0.58	)
Loss from discontinued operations		(0.06	)		(0.01	)

Net loss	$	(1.58	)	$	(0.59	)

~~Comparison~~For ofthe ~~Three-Month~~three ~~Periods~~months ~~Ended~~ended ~~September 30~~March 31, ~~2001~~2009 and ~~2002.~~2008, ~~The~~potentially ~~following~~dilutive ~~tables~~common ~~include~~shares excluded ~~selected~~from ~~data~~the computation of ~~Plaza Associates,~~diluted ~~Taj~~net ~~Associates,~~loss ~~Trump~~per ~~Indiana~~share ~~and~~due ~~Trump~~to ~~Marina.~~anti-dilution are as follows:

	Three Months Ended September 30, 2001
	Three MonthsEndedMarch 31,
	Plaza Associates			Taj Associates			Trump Indiana			Trump Marina			THCR Consolidated*
	2009		2008
	(dollars in millions)
Exchangeable limited partnership interest	9,377,484		9,377,484
Revenues:
Ten year warrants	1,446,706		1,446,706
Gaming	$	88.5		$	148.8		$	31.0		$	74.9		$	343.2
Employee stock options	300,000		300,000
Other		19.5			31.1			2.5			18.5			71.6
Total	11,124,190		11,124,190
Gross Revenues		108.0			179.9			33.5			93.4			414.8
Less: Promotional Allowances		24.8			38.4			3.0			21.2			87.4
Net Revenues		83.2			141.5			30.5			72.2			327.4
Costs and Expenses:
Gaming		40.9			62.8			16.6			32.9			153.2
Other		4.9			9.5			1.7			4.3			20.3
General & Administrative		15.8			25.2			6.9			17.3			66.3
Depreciation & Amortization		3.1			8.4			1.3			4.6			17.4
Total Costs and Expenses		64.7			105.9			26.5			59.1			257.2
Income from Operations		18.5			35.6			4.0			13.1			70.2
Non-operating Income		0.1			0.1			0.1			0.1			0.7
Interest Expense		(12.1	)		(23.4	)		(1.5	)		(15.1	)		(55.3	)
Total Non-operating Expense, Net		(12.0	)		(23.3	)		(1.4	)		(15.0	)		(54.6	)
Loss in Joint Venture		—			—			(0.6	)		—			(0.6	)
Income (Loss) before Minority Interest	$	6.5		$	12.3		$	2.0		$	(1.9	)	$	15.0
Minority Interest														(5.5	)
Net Income													$	9.5
*Intercompany eliminations and expenses of THCR, THCR Holdings and Trump AC are not separately shown.

18If any common stock or common stock equivalents are required to be issued pursuant to a plan of reorganization under the Chapter 11 Case, current stockholder’s equity interest may be diluted.

~~Table~~(6) ofStock-based ~~Contents~~Compensation Plans

	Three Months Ended September 30, 2002
	Plaza Associates					Taj Associates						Trump Indiana						Trump Marina						THCR Consolidated*
	(dollars in millions)
Revenues:
Gaming	$	93.5				$		146.1				$		33.7				$		79.7				$		353.0
Other		18.8						31.2						2.1						19.1						71.9
Gross Revenues		112.3						177.3						35.8						98.8						424.9
Less: Promotional Allowances		24.6						32.3						3.5						21.9						82.3
Net Revenues		87.7						145.0						32.3						76.9						342.6
Costs and Expenses:
Gaming		40.1						62.1						16.3						34.6						153.1
Other		5.4						9.3						1.5						4.4						20.6
General & Administrative		16.9						28.1						6.6						18.9						71.5
Depreciation & Amortization		5.0						9.8						1.6						5.4						21.8
Debt Renegotiation Costs		—						—						—						—						—
Total Costs and Expenses		67.4						109.3						26.0						63.3						267.0
Income from Operations		20.3						35.7						6.3						13.6						75.6
Non-operating Income		0.1						0.1						0.1						0.1						1.1
Interest Expense		(13.9		)				(24.5		)				(0.9		)				(16.1		)				(57.2		)
Total Non-operating Expense, Net		(13.8		)				(24.4		)				(0.8		)				(16.0		)				(56.1		)
Loss in Joint Venture		—						—						(0.6		)				—						(0.6		)
Provision for income taxes		(1.0		)				(1.8		)				—						(1.0		)				(3.7		)
Income(Loss) before Minority Interest	$	5.5				$		9.5				$		4.9				$		(3.4		)		$		15.2
Minority Interest																										(5.6		)
Net Income .																								$		9.6
* Intercompany eliminations, revenues and expenses of THCR, THCR Holdings, Trump AC and THCR Management are not separately shown.
	Three Months Ended September 30, 2001
	Plaza Associates				Taj Associates						Trump Indiana						Trump Marina						THCR Consolidated
	(dollars in millions)
Table Game Revenues	$	25.5			$		48.5				$		5.9				$		18.9				$		98.8
Table Game Drop	$	154.5			$		269.9				$		34.4				$		113.2				$		572.0
Table Win Percentage		16.5	%				18.0		%				17.3		%				16.7		%				17.3		%
Number of Table Games		100					139						52						79						370
Slot Revenues	$	63.0			$		94.2				$		25.1				$		55.7				$		238.0
Slot Handle	$	794.0			$		1,235.1				$		348.5				$		717.4				$		3,095.0
Slot Win Percentage		7.9	%				7.6		%				7.2		%				7.8		%				7.7		%
Number of Slot Machines		2,868					4,827						1,360						2,523						11,578
Other Gaming Revenues	$	—			$		6.1				$		—				$		0.3				$		6.4
Total Gaming Revenues	$	88.5			$		148.8				$		31.0				$		74.9				$		343.2

Our shareholders approved the 2005 Incentive Award Plan (the “2005 Stock Plan”) allowing for incentive stock options, nonqualified stock options, restricted stock, stock appreciation rights, performance shares and other stock-based awards to our officers, employees, consultants and independent directors. A total of 4,000,000 shares of Common Stock have been reserved for the issuance of awards available for grant under the 2005 Stock Plan.

19In accordance with the revised provisions of SFAS No. 123, “Share Based Payment” (“FAS 123R”), general and administrative expenses related to our continuing operations include compensation expense for our stock option and restricted stock awards of $421 and $772 for the three months ended March 31, 2009 and 2008, respectively.

~~Table~~Restricted Stock – At March 31, 2009, there were 471,100 shares of ~~Contents~~nonvested restricted stock issued and outstanding. The remaining unrecognized compensation expense for nonvested restricted stock to be recognized over the remaining contractual life was $1,012. The weighted-average remaining contractual life of outstanding restricted stock grants at March 31, 2009 was approximately one year.

	Three Months Ended September 30, 2002
		Plaza Associates			Taj Associates			Trump Indiana			Trump Marina			THCR Consolidated
	(dollars in millions)
Table Game Revenues	$	27.3		$	41.6		$	5.5		$	16.3		$	90.7
Incr (Decr) over prior period	$	1.8		$	(6.9	)	$	(0.4	)	$	(2.6	)	$	(8.1	)
Table Game Drop	$	168.2		$	257.1		$	33.1		$	108.9		$	567.2
Incr (Decr) over prior period	$	13.7		$	(12.8	)	$	(1.3	)	$	(4.3	)	$	(4.8	)
Table Win Percentage		16.3	%		16.2	%		16.5	%		14.9	%		16.0	%
Incr (Decr) over prior period		(0.2	)pts		(1.8	)pts		(0.8	)pts		(1.8	)pts		(1.3	)pts
Number of Table Games		88			139			45			78			350
Incr (Decr) over prior period		(12	)		—			(7	)		(1	)		(20	)
Slot Revenues	$	66.2		$	98.5		$	28.2		$	63.1		$	256.0
Incr (Decr) over prior period	$	3.2		$	4.3		$	3.1		$	7.4		$	18.0
Slot Handle	$	820.1		$	1,219.1		$	366.1		$	780.2		$	3,185.4
Incr (Decr) over prior period	$	26.1		$	(16.0	)	$	17.6		$	62.8		$	90.4
Slot Win Percentage		8.1	%		8.1	%		7.7	%		8.1	%		8.0	%
Incr (Decr) over prior period		0.2	pts		0.5	pts		0.5	pts		0.3	pts		0.3	pts
Number of Slot Machines		2,982			4,823			1,733			2,528			12,066
Incr (Decr) over prior period		114			(4	)		373			5			488
Other Gaming Revenues	$	N/A		$	6.0		$	N/A		$	0.3		$	6.3
Incr (Decr) over prior period	$	N/A		$	(0.1	)	$	N/A		$	—		$	(0.1	)
Total Gaming Revenues	$	93.5		$	146.1		$	33.7		$	79.7		$	353.0
Incr (Decr) over prior period	$	5.0		$	(2.7	)	$	2.7		$	4.8		$	9.8

Stock Options – At March 31, 2009, there were 300,000 stock options outstanding of which 100,000 are fully vested and 200,000 which vest in equal increments on July 31, 2009 and 2010. At March 31, 2009, the remaining unrecognized compensation expense for nonvested stock options to be recognized over the remaining contractual life was $324.

Gaming revenues are the primary source of THCR’s revenues. Table game revenues represent the amount retained by THCR from amounts wagered at table games. The table win percentage tends to be fairly constant over the long term, but may vary significantly in the short term, due to large wagers by “high rollers.” The Atlantic City industry table game win percentages were 16.1 % and 15~~.5%~~ ~~for the three months ended September 30, 2001 and 2002, respectively. THCR’s table game win percentage was 17.3% and 16.0% for the three months ended September 30, 2001 and 2002, respectively.~~

~~Table game revenues decreased $8.1 million, or 8.2%, to $90.~~(7) ~~million~~Income for the three months ended September 30, 2002 from $98.8 million in the comparable period in 2001. The $6.9 million decrease in table game revenue at the Taj Mahal was primarily due to a 1.8 point decrease in table win percentage combined with a $12.8 million decrease in table game drop . Trump Plaza’s table game drop increase of $13.7 million offset by a 0.2 point decrease in table win percentage resulted in a $1.8 million increase in table game revenue. Trump Marina’s $2.6 million decrease in table game revenue is due to a 1.8 point decrease in table win percentage. Trump Indiana’s $0.4 million decrease in table games revenue was primarily due to a $1.3 million decrease in table game drop, combined with a 0.8 point decrease in table win percentage, resulting from increased competition in the Indiana and Illinois market for table game play.Taxes

~~Slot~~Our ~~revenues~~income ~~increased~~tax ~~$18.0~~provision ~~million, or 7.6%,~~ attributable to ~~$256.0~~continuing ~~million~~operations ~~for the three months ended September 30, 2002 from $238.0 million in the comparable period in 2001. Increases in slot handle of $26.1 million at Trump Plaza~~ and ~~$62.8~~discontinued ~~million~~operations atis Trump Marina primarily contributed to their respective increases in slot revenues. The Taj Mahal’s slot revenues increased $4.3 million due to a 0.5 point increase in slot win percentage which offset a $16.0 million decrease in slot handle. Trump Indiana’s slot revenues increased $3.1 million primarily due to a $17.6 million increase in slot handle, as ~~a result~~follows: of additional machines added in 2002, combined with a 0.5 point increase in slot win percentage. Overall, slot revenues increased primarily as a result of improved slot product on the casino floor, management’s continued focus on marketing initiatives and customer service, all of which contributed to an increase in slot handle.

Other revenues for the three months ended September 30, 2002 includes a $0.7 million management fee from the Trump 29 Casino located in Coachella, California, for which there was no comparative revenue in 2001.


	Three Months Ended March 31,
	2009		2008
Continuing operations	$	—	$	—
Discontinued operations		—		—

		—		—

~~Gaming~~At ~~costs~~March 31, ~~and~~2009, ~~expenses~~we ~~remained~~had ~~flat~~unrecognized attax ~~$153.1~~benefits ~~million~~of ~~for~~approximately ~~the~~$33,827, ~~three~~including interest. ~~months~~In ~~ended~~accordance ~~September~~with ~~30,~~SFAS ~~2002~~141(R), ~~compared~~which towe ~~$153.2~~adopted ~~million~~on ~~for~~January 1, ~~the~~2009, ~~three~~$15,027 ~~months~~of ~~ended September~~unrecognized ~~30,~~tax ~~2001. Gaming~~benefits ~~costs~~would ataffect ~~the~~our ~~Taj~~effective ~~Mahal~~tax ~~and~~rate ~~Trump~~for ~~Plaza~~continuing ~~decreased~~operations, ~~$0.7~~if ~~million~~recognized, and $~~0.8 million~~6,130 ~~respectively,~~would ~~from~~be ~~the~~recorded ~~comparable~~as ~~period~~a inreduction ~~2001 primarily due~~ to income ~~decreased payroll~~tax expense ~~and~~for ~~more~~discontinued ~~efficient~~operations, ~~marketing programs~~if recognized. ~~Trump~~ ~~Marina’s~~It ~~gaming~~is ~~costs~~reasonably ~~increased~~possible ~~$1.7~~that ~~million primarily~~certain ~~due~~unrecognized totax ~~increased~~benefits ~~spending~~related onto ~~marketing~~income ~~programs,~~tax ~~which~~examinations ~~was~~totaling ~~incurred~~$8,348 tocould ~~stimulate~~be ~~gaming~~settled ~~revenues.~~during ~~Trump~~the ~~Indiana’s~~next ~~gaming~~twelve ~~costs decreased $0~~months.~~3 million from~~

20We recognize interest accrued related to unrecognized tax benefits in interest expense and penalties as a component of income tax expense. During the three months ended March 31, 2009 and 2008, we recognized $580 and $661, respectively, in potential interest associated with uncertain tax positions. At March 31, 2009, we had $9,570 accrued for the payment of interest on uncertain tax positions. In accordance with SFAS 141(R), to the extent interest is not assessed with respect to uncertain tax positions, amounts accrued will be reduced and reflected as a reduction of interest expense.

~~Table~~Federal ofand ~~Contents~~State Income Tax Audits

Tax years 2005 through 2008 remain subject to examination by the ~~comparable~~federal ~~period~~tax inauthority. ~~2001~~We have received notification that the Internal Revenue Service (“IRS”) has started an examination of tax year 2005. Tax years 1995 through 2008 remain subject to examination by state tax jurisdictions. We have received notification that the New Jersey Division of Taxation has started an examination of tax years 2004 through 2007.

~~General~~At ~~and~~March 31, ~~administrative~~2009, ~~expenses~~we ~~were~~ have accrued $~~71.5~~891 ~~million~~to ~~for~~reflect the ~~three~~expected ~~months~~federal ~~ended~~tax ~~September~~liability ~~30,~~(including ~~2002,~~interest) ~~a $5.2~~for ~~million~~the period from January 1, or2005 ~~7.8%~~through December 21, ~~increase~~2005, ~~from~~the ~~$66.3~~date ~~million in~~of the ~~comparable~~sale ~~period~~of inour former ~~2001~~subsidiary, Trump Indiana, Inc. ~~This~~ ~~increase~~to isMajestic ~~primarily~~Star ~~attributed~~Casino, toLLC ~~higher~~(“Majestic ~~insurance~~Star”), ~~real~~resulting ~~estate~~from ~~taxes~~agreed ~~and~~upon ~~employee~~IRS ~~benefits. Trump~~audit ~~Marina’s~~adjustments ~~increase also~~for ~~includes~~1996 ~~incremental~~through ~~costs~~2004. ~~incurred~~Additionally, ~~related~~we tohave accrued a ~~service agreement~~liability ~~dated~~of ~~December~~$556 ~~28,~~related ~~1993,~~to (the ~~"Trump~~impact ~~Services~~on ~~Agreement"~~state income taxes (including interest) ~~between~~resulting ~~Castle~~from ~~Associates~~agreed ~~and~~upon ~~Trump~~IRS ~~Casinos~~audit IIadjustments for 1996 through December 21, ~~Inc~~2005., anIn ~~affiliate~~accordance with the terms of ~~Trump. General~~our ~~and administrative~~Stock ~~expenses~~Purchase ~~also~~Agreement ~~include~~with ~~expenses~~Majestic ~~incurred~~Star, ~~by THCR~~TER Holdings has retained the liability for ~~Management~~expected offederal ~~$0.4~~and ~~million,~~state income taxes (including ~~pre-opening~~interest) ~~costs~~related ofto Trump Indiana for the ~~Trump~~tax 29years ~~Casino~~1995 ofthrough ~~$0.2~~December 21, ~~million~~2005.

~~Income~~From 2002 through 2006, state income taxes offor $3our New Jersey operations were computed under the alternative minimum assessment method.7 ~~million~~We ~~represent~~ have asserted our position that New Jersey partnerships were exempt from these taxes ~~recorded~~and, inas ~~connection~~such, have ~~with~~not ~~the~~remitted ~~changes~~payments toof the amounts provided. The New Jersey ~~state~~Division ~~income~~of Taxation has issued an assessment to collect the unpaid taxes for the tax ~~law~~years ~~enacted~~2002 ~~during~~and ~~July~~2003. At March 31, 2009, we have accrued $29,280 for taxes and interest relating to this alternative minimum tax assessment for 2002 ~~(see~~and ~~Note~~2003, 7)as well as the open years 2004 through 2006. We are currently in discussions with the New Jersey Division of Taxation regarding settlement of these assessments.

~~Included~~Potential ~~in other~~Chapter ~~non-operating~~11 ~~income~~Case ~~for~~and ~~the~~Limited ~~three~~Partnership ~~months~~Abandonment ~~ended~~Implications ~~September 30, 2002, is a $0.7 million distribution from Miss Universe, L.P., LLP (“Miss Universe”) to THCR Holdings. There was no comparable income in 2001.~~

~~Comparison~~If the Company’s debt is reduced or restructured as a result of ~~Nine-Month~~the ~~Periods~~Chapter ~~Ended~~11 ~~September~~Case, 30the Company anticipates that it would recognize “cancellation of indebtedness” income, ~~2001~~and as a result, the Company could be required to reduce certain tax attributes such as net operating losses (“NOLs”) and ~~2002~~the tax basis of its assets. ~~The~~Any ~~following~~such ~~tables~~reduction ~~include~~could ~~selected~~result ~~data~~in increased future tax liabilities for the Company. Additionally, the utilization of NOLs, ~~Plaza~~if ~~Associates~~any, ~~Taj~~may ~~Associates~~be limited pursuant to Section 382 of the Internal Revenue Code. Furthermore, if Mr. Trump’s ~~Indiana~~purported abandonment of his limited partnership interest (as discussed in Note 1) is deemed to be effective for tax purposes, the Company could be required to further reduce certain tax attributes such as NOLs and ~~Trump~~the ~~Marina~~tax basis of its assets.

	Nine Months Ended September 30, 2001
	Plaza Associates			Taj Associates			Trump Indiana			Trump Marina			THCR Consolidated*
	(dollars in millions)
Revenues:
Gaming	$	249.6		$	400.7		$	93.7		$	201.4		$	945.4
Other		55.2			82.4			7.0			46.3			190.9
Gross Revenues		304.8			483.1			100.7			247.7			1,136.3
Less: Promotional Allowances		72.5			101.5			9.2			57.0			240.2
Net Revenues		232.3			381.6			91.5			190.7			896.1
Costs and Expenses:
Gaming		123.2			180.0			49.4			93.9			446.5
Other		14.4			27.3			5.0			10.3			56.9
General & Administrative		49.5			74.4			21.5			50.4			198.1
Depreciation & Amortization		11.4			25.2			5.0			13.1			54.9
Total Costs and Expenses		198.5			306.9			80.9			167.7			756.4
Income from Operations		33.8			74.7			10.6			23.0			139.7
Non-operating Income		0.7			0.6			0.5			0.5			3.2
Interest Expense		(36.1	)		(69.9	)		(4.0	)		(44.6	)		(164.5	)
Total Non-operating Expense, Net		(35.4	)		(69.3	)		(3.5	)		(44.1	)		(161.3	)
Loss in Joint Venture		—			—			(2.2	)		—			(2.2	)
Income (Loss) before Minority Interest	$	(1.6	)	$	5.4		$	4.9		$	(21.1	)	$	(23.8	)
Minority Interest														8.7
Net Loss													$	(15.1	)

*IntercompanyTax ~~eliminations~~Distributions ~~and expenses of THCR, THCR Holdings and Trump AC are not separately shown.~~

21TER Holdings’ partnership agreement requires distributions to its partners sufficient in amount to cover all federal, state and local income taxes incident to their ownership of TER Holdings, including special allocations of income, gains, losses, deductions and credits. TER Holdings made distributions of $250 for the three months ended March 31, 2008. As of March 31, 2009, TER Holdings recorded distributions payable of $180.

~~Table~~(8) ofCommitments ~~Contents~~and Contingencies

	Nine Months Ended September 30, 2002
	Plaza Associates			Taj Associates			Trump Indiana			Trump Marina			THCR Consolidated*
	(dollars in millions)
Revenues:
Gaming	$	259.4		$	408.5		$	98.2		$	217.2		$	983.4
Other		53.2			85.1			6.3			47.4			193.8
Gross Revenues		312.6			493.6			104.5			264.6			1,177.2
Less: Promotional Allowances		69.7			95.2			10.2			56.0			231.2
Net Revenues		242.9			398.4			94.3			208.6			946.0
Costs and Expenses:
Gaming		117.5			177.3			49.3			96.9			440.9
Other		16.1			27.3			4.6			11.5			59.5
General & Administrative		48.2			79.4			19.6			51.4			201.6
Depreciation & Amortization		13.5			28.1			4.4			15.6			61.6
Debt Renegotiation Costs		—			—			0.3			1.1			3.1
Total Costs and Expenses		195.3			312.1			78.2			176.5			766.7
Income from Operations		47.6			86.3			16.1			32.1			179.3
Non-operating Income		0.3			0.2			0.2			0.2			2.1
Interest Expense		(38.8	)		(71.9	)		(3.1	)		(47.5	)		(167.6	)
Total Non-operating Expense, Net		(38.5	)		(71.7	)		(2.9	)		(47.3	)		(165.5	)
Loss in Joint Venture		—			—			(1.8	)		—			(1.8	)
Provision for income taxes		(1.0	)		(1.8	)		—			(1.0	)		(3.7	)
Income(Loss) before Minority Interest	$	8.1		$	12.8		$	11.4		$	(16.2	)	$	8.3
Minority Interest														(3.0	)
Net Income													$	5.3

Casino Reinvestment Development Authority Obligations – Pursuant to the provisions of the Casino Control Act, we must either obtain investment tax credits, as defined in the Casino Control Act, in an amount equivalent to 1.25% of our gross casino revenues, as defined in the Casino Control Act, or pay an alternative tax of 2.5% of our gross casino revenues. Investment tax credits may be obtained by making qualified investments, as defined in the Casino Control Act, or by depositing funds which may be converted to bonds by the Casino Reinvestment Development Authority (“CRDA”), both of which bear interest at two-thirds of market rates resulting in a fair value lower than cost. Certain of our subsidiaries are required to make quarterly deposits with the CRDA to satisfy their investment obligations. During the three months ended March 31, 2009 and 2008, we recognized expense within our continuing operations of $661 and $806, respectively, to give effect to the below market interest rates associated with CRDA deposits and bonds.

* IntercompanyNJSEA ~~eliminations~~Subsidy Agreement – In April 2004, the casinos located in Atlantic City (“Casinos”), including our Atlantic City casinos, executed an agreement (“2004 NJSEA Subsidy Agreement”) with the New Jersey Sports and Exposition Authority (“NJSEA”) and the CRDA. The 2004 NJSEA Subsidy Agreement provides that the Casinos, on a pro rata basis according to their gross revenues, shall pay in cash and ~~expenses~~donate from the regular payment of ~~THCR~~their CRDA obligations a total of $86,000 ~~THCR~~in ~~Holdings~~four annual installments in October of each of 2004 through 2007 to the NJSEA. It required that the funds be used by the NJSEA through December 31, ~~Trump~~2008 ACto enhance purses, fund breeders’ awards and ~~THCR~~establish account wagering at New Jersey horse racing tracks. Our portion of ~~Management~~this ~~are~~industry ~~not~~obligation ~~separately~~was ~~shown~~approximately 23%.

	Nine Months Ended September 30, 2001
	Plaza Associates			Taj Associates			Trump Indiana			Trump Marina			THCR Consolidated
	(dollars in millions)
Table Game Revenues	$	73.9		$	126.0		$	18.8		$	48.0		$	266.7
Table Game Drop	$	436.8		$	755.0		$	109.5		$	297.8		$	1,599.1
Table Win Percentage		16.9	%		16.7	%		17.2	%		16.1	%		16.7	%
Number of Table Games		99			141			52			78			370
Slot Revenues	$	175.7		$	257.6		$	74.9		$	152.8		$	661.0
Slot Handle	$	2,269.9		$	3,373.2		$	1,041.2		$	1,972.9		$	8,657.2
Slot Win Percentage		7.7	%		7.6	%		7.2	%		7.7	%		7.6	%
Number of Slot Machines		2,850			4,696			1,308			2,526			11,380
Other Gaming Revenues	$	N/A		$	17.1		$	N/A		$	0.6		$	17.7
Total Gaming Revenues	$	249.6		$	400.7		$	93.7		$	201.4		$	945.4

The 2004 NJSEA Subsidy Agreement further provided for a moratorium until January 2009 on the conduct of casino gaming at any New Jersey racetrack and conditioned the donation of the CRDA funds upon the enactment and funding of the Casino Expansion Fund Act which made funds available, on a pro rata basis, to each of the Casinos for investment in eligible projects in Atlantic City approved by the CRDA. In September 2006, the CRDA approved the construction of the Chairman Tower at the Trump Taj Mahal as an eligible project and, pursuant to October 2006 agreements, authorized grants to our Atlantic City casinos in aggregate amounts of approximately $13,800 from the Atlantic City Expansion Fund and $1,575 from a separate Casino Capital Construction Fund, both administered by the CRDA.

The New Jersey Legislature amended the Casino Control Act, effective April 18, 2008, to permit the Casinos to deduct the amount of certain promotional gaming credits wagered at their slot machines in calculating the tax on gross gaming revenue. The amendment became operative upon the August 14, 2008 certification by the Chair of the New Jersey Casino Control Commission (“CCC”) to the State Treasurer that the Casinos and Casino Association of New Jersey (“CANJ”) had executed a new subsidy agreement with NJSEA for the benefit of the horse racing industry for $30,000 annually for a three-year period (“2008 NJSEA Subsidy Agreement”). In addition, the CCC adopted regulations effective September 22, 2008 which establish procedures by which the Casinos may implement the promotional gaming credit tax deduction.

~~Table~~The 2008 NJSEA Subsidy Agreement provides that the Casinos will pay the NJSEA $90,000 to be used solely for purse enhancements, breeder’s purses and expenses to establish off-track wagering facilities which it incurs through 2011. The payments will be made in eleven installments from September 29, 2008 through November 15, 2011 and will total $22,500 in 2008, $30,000 in each of ~~Contents~~2009 and 2010 and $7,500 in 2011. Each Casino will pay a share equal to a percentage representing the gross gaming revenue it reported for the prior calendar year compared to that reported by all Casinos for that year. Our Atlantic City properties have estimated their portion of the industry obligation at approximately 21%.

	Nine Months Ended September 30, 2002
	Plaza Associates			Taj Associates			Trump Indiana			Trump Marina			THCR Consolidated
	(dollars in millions)
Table Game Revenues	$	77.4		$	116.0		$	17.3		$	49.4		$	260.1
Incr (Decr) over prior period	$	3.5		$	(10.0	)	$	(1.5	)	$	1.4		$	(6.6	)
Table Game Drop	$	458.2		$	700.6		$	100.3		$	287.2		$	1,546.3
Incr (Decr) over prior period	$	21.4		$	(54.4	)	$	(9.2	)	$	(10.6	)	$	(52.8	)
Table Win Percentage		16.9	%		16.6	%		17.3	%		17.2	%		16.8	%
Incr (Decr) over prior period		0.0	pts		(0.1	)pts		0.1	pts		1.1	pts		0.1	pts
Number of Table Games		88			139			47			79			353
Incr (Decr) over prior period		(11	)		(2	)		(5	)		1			(17	)
Slot Revenues	$	182.0		$	275.5		$	80.9		$	167.2		$	705.7
Incr (Decr) over prior period	$	6.3		$	17.9		$	6.0		$	14.4		$	44.7
Slot Handle	$	2,261.2		$	3,476.5		$	1,063.9		$	2,104.1		$	8,905.7
Incr (Decr) over prior period	$	(8.7	)	$	103.3		$	22.7		$	131.2		$	248.5
Slot Win Percentage		8.1	%		7.9	%		7.6	%		7.9	%		7.9	%
Incr (Decr) over prior period		0.4	pts		0.3	pts		0.4	pts		0.2	pts		0.3	pts
Number of Slot Machines		2,912			4,843			1,584			2,526			11,865
Incr (Decr) over prior period		62			147			276			—			485
Other Gaming Revenues	$	N/A		$	17.0		$	N/A		$	0.6		$	17.6
Incr (Decr) over prior period	$	N/A		$	(0.1	)	$	N/A		$	—		$	(0.1	)
Total Gaming Revenues	$	259.4		$	408.5		$	98.2		$	217.2		$	983.4
Incr (Decr) over prior period	$	9.8		$	7.8		$	4.5		$	15.8		$	38.0

The 2008 NJSEA Subsidy Agreement also provides that the NJSEA, all other entities which receive any portion of the payments and affiliates of either shall not operate, conduct, maintain or permit any casino gaming, including video lottery gaming, in any New Jersey location other than Atlantic City prior to 2012 and that the Casinos may bring an action in New Jersey Superior Court against any entity that does so to enforce this prohibition by specific performance.

The ~~Atlantic~~2008 ~~City~~NJSEA ~~industry~~Subsidy ~~table~~Agreement ~~game win~~further ~~percentages~~provides ~~were~~that ~~15.6%~~if, ~~and~~prior ~~15.8%~~to ~~for the nine months ended September 30~~2011, ~~2001~~a ~~and~~statewide ~~2002,~~public ~~respectively. THCR’s~~question ~~table~~to ~~game~~authorize ~~win~~casino ~~percentage~~gaming ~~was~~at ~~16.7%~~any ~~and~~New ~~16.8%~~Jersey ~~for~~location ~~the~~other ~~nine~~than ~~months~~Atlantic ~~ended~~City ~~September~~is ~~30,~~approved ~~2001~~by ~~and~~the ~~2002,~~New ~~respectively.~~Jersey Legislature

~~Table~~17 game revenues decreased $6.6 million, or 2.5%, to $260.1 million for the nine months ended September 30, 2002 from $266.7 million in the comparable period in 2001. The $10.0 million decrease in table game revenues at the Taj Mahal was primarily due to a $54.4 million decrease in table game drop. Trump Plaza’s table game revenues increase of $3.5 million was due to the $21.4 million increase in table game drop. Trump Marina’s $1.4 million increase in table game revenues is primarily due to a 1.1 point increase in table win percentage which offset the $10.6 million decrease in table game drop. Trump Indiana’s $1.5 million decrease in table game revenues was primarily due to a $9.2 million decrease in table game drop, resulting from increased competition in the Indiana and Illinois market for table game play.

~~Slot revenues increased $44.7 million,~~ or ~~6.8%~~if, prior to ~~$705.7 million for the nine months ended September 30~~2012, ~~2002~~any ~~from~~such ~~$661.0~~statewide ~~million~~public inquestion ~~the comparable~~is ~~period~~approved inby ~~2001.~~New ~~Increases~~Jersey invoters ~~slot~~or ~~handle~~any ofNew ~~$103.3~~Jersey ~~million~~legislation atis ~~the~~enacted ~~Taj~~or ~~Mahal~~other ~~and~~New ~~$131.2 million at Trump Marina primarily contributed to their respective increases in slot revenues. Trump Plaza’s slot revenues increased $6.3~~Jersey ~~million~~governmental ~~due~~action tois ataken ~~0.4~~authorizing ~~point~~such ~~increase~~gaming inor ~~slot~~any ~~win~~such ~~percentage~~gaming ~~which~~is ~~offset~~actually anoperated, ~~$8.7~~conducted ~~million~~or ~~decrease~~maintained, inthen ~~slot~~the ~~handle. Trump~~Casinos ~~Indiana’s~~shall ~~slot~~make ~~revenues~~no ~~increased~~further ~~$6.0~~payments ~~million due~~ to aNJSEA ~~0.4~~and, ~~point increase~~ in ~~slot~~certain ~~win percentage combined with a $22.7 million increase in slot handle. Overall~~circumstances, ~~slot~~NJSEA ~~revenues~~shall ~~increased~~return ~~primarily~~some asor aall ~~result~~ of ~~improved slot product on~~ the payments ~~casino~~it ~~floor,~~previously ~~management’s~~received ~~continued~~from ~~focus on marketing initiatives and customer service, and favorable weather conditions in~~ the ~~first three months of 2002~~Casinos.

~~Other~~The ~~revenues~~2008 ~~for~~NJSEA Subsidy Agreement acknowledges the ~~nine~~publicly ~~months~~announced ~~ended~~intention ~~September~~of 30the Governor to, ~~2002~~by ~~includes~~executive order, create a ~~$1.8~~commission ~~million management~~to ~~fee~~study ~~from~~and report its recommendations for the ~~Trump~~long 29term ~~Casino~~stability ~~located~~of inthe ~~Coachella~~horse racing industry to the Governor and the Legislature on or about July 1, ~~California~~2010 and provides that the Casinos, CANJ ~~for~~and ~~which~~NJSEA ~~there~~will ~~was~~work noand ~~comparative~~cooperate ~~revenue~~in good faith with any such commission and that the NJSEA shall not support legislation for casino gaming in ~~2001~~any New Jersey location other than Atlantic City prior to the commission’s delivery of its report to the Governor and the Legislature.

~~Gaming~~CAFRA ~~costs and~~Agreement ~~expenses~~– ~~were~~Trump ~~$440.9~~Taj ~~million~~Mahal ~~for~~received a permit under the ~~nine~~Coastal ~~months~~Area Facilities ~~ended~~Review ~~September~~Act ~~30,~~(“CAFRA”) ~~2002,~~that ainitially ~~decrease~~required ofTrump ~~$5.6~~Taj ~~million,~~Mahal orto ~~1.3%,~~begin ~~from~~construction ~~$446.5~~of ~~million~~certain ~~for~~improvements on the ~~nine~~Steel ~~months~~Pier ~~ended~~by ~~September~~October 301992, ~~2001. Gaming~~which ~~costs~~improvements atwere to be completed within 18 months of the commencement of construction. Trump Taj Mahal ~~decreased~~initially ~~$2.7~~proposed ~~million~~a concept to improve the Steel Pier, ~~or 1.5%~~the estimated cost of which was $30,000. ~~from~~Such concept was approved by the ~~comparable~~New ~~period~~Jersey inDepartment ~~2001~~of ~~and~~Environmental ~~Trump~~Protection, ~~Plaza’s~~the ~~gaming~~agency ~~costs~~which ~~decreased~~administers $5CAFRA.7 ~~million~~In March 1993, orTaj ~~4.6%,~~Associates ~~from~~obtained a modification of its CAFRA permit providing for an extension of the ~~comparable~~required ~~period~~commencement inand ~~2001~~completion ~~primarily~~dates ~~due~~of the improvements to ~~decreased payroll~~the ~~expense~~Steel ~~and~~Pier ~~more~~for ~~efficient~~one ~~marketing~~year, ~~programs. Trump~~which has been renewed annually, based upon an ~~Marina’s~~interim ~~gaming~~use ~~costs~~of ~~increased~~the ~~$3.0~~Steel ~~million primarily~~Pier ~~due~~as toan ~~increased~~amusement ~~spending~~park. onThe ~~marketing~~pier ~~programs~~sublease, pursuant to which ~~was~~Trump ~~incurred~~Taj Mahal leases the Steel Pier to ~~stimulate~~an ~~gaming~~amusement ~~revenues. Trump~~park ~~Indiana’s~~operator, ~~gaming~~terminates ~~costs~~on ~~decreased~~December 31, $02010.1 ~~million from~~The conditions of the CAFRA permit renewal thereafter ~~comparable~~are ~~period~~under ~~in 2001~~discussion with the New Jersey Department of Environmental Protection.

23(9) Legal Proceedings

~~Table~~We and certain of ~~Contents~~our employees are involved from time to time in legal proceedings arising in the ordinary course of our business. While any proceeding or litigation contains an element of uncertainty, management believes that the final outcomes of these other matters are not likely to have a material adverse effect on our results of operations or financial condition. In general, we have agreed to indemnify certain of our key executives and directors against any and all losses, claims, damages, expenses (including reasonable costs, disbursements and counsel fees) and liabilities (including amounts paid or incurred in satisfaction of settlements, judgments, fines and penalties) incurred by them in any legal proceedings absent a showing of such persons’ gross negligence or malfeasance.

~~General~~Chapter ~~and~~11 ~~administrative~~Case ~~expenses~~– ~~were $201.6~~As ~~million~~described ~~for~~in ~~the nine~~Note ~~months ended September 30, 2002, a $3.5 million, or~~ 1~~.8%~~, ~~increase~~on ~~from $198.1 million in~~ the ~~comparable~~Petition ~~period in 2001. This increase is primarily attributed to higher insurance~~Date, ~~real~~the ~~estate~~Debtors ~~taxes~~filed ~~and employee benefits. Trump~~voluntary ~~Marina’s~~petitions ~~increase also~~in ~~includes~~the ~~incremental~~Bankruptcy ~~costs~~Court ~~incurred~~seeking ~~related~~relief tounder the ~~Trump~~Bankruptcy ~~Services Agreement~~Code. ~~General~~ ~~and administrative expenses also include expenses incurred by THCR Management of $0.9 million, including pre-opening costs of $0.6 million.~~

~~Income~~The ~~taxes~~Debtors ofcontinue ~~$3.7~~to ~~million~~operate ~~represent~~their ~~taxes~~businesses ~~recorded~~as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in ~~connection~~accordance with applicable provisions of the ~~changes~~Bankruptcy Code and the orders of the Bankruptcy Court. As debtors-in-possession, the Debtors are authorized to continue to operate as ongoing businesses, and may pay all debts and honor all obligations arising in the ~~New~~ordinary ~~Jersey~~course ~~state~~of ~~income~~their businesses after the Petition Date. However, the Debtors may not pay creditors on account of obligations arising before the ~~tax~~Petition ~~law~~Date ~~enacted~~or ~~during~~engage ~~July~~in ~~2002~~transactions ~~(see~~outside ~~Note~~the 7)ordinary course of business without approval of the Bankruptcy Court, after notice and an opportunity for a hearing.

~~THCR~~Under ~~previously~~the ~~announced~~Bankruptcy ~~its~~Code, ~~intention~~actions to ~~refinance~~collect orpre-petition ~~modify~~indebtedness, ~~the~~as ~~terms~~well ~~of its public debt which was approximately $1.7 billion aggregate principal amount~~ as ofmost ~~September~~litigation ~~30,~~pending ~~2002. During~~against the ~~nine months ended September 30~~Debtors, ~~2002,~~are ~~debt renegotiation costs of $3~~stayed.1 ~~million~~Other ~~were~~pre-petition ~~incurred:~~contractual ~~$1.6~~obligations ~~million~~against bythe ~~Trump~~Debtors ACgenerally ~~on its $1.3 billion~~may ~~outstanding~~not ~~debt,~~be $1enforced.1 ~~million~~Absent byan ~~Trump~~order ~~Marina,~~of ~~$0.3~~the ~~million~~Bankruptcy byCourt ~~Trump~~providing ~~Indiana and $0.1 million by THCR Holdings. Accordingly~~otherwise, ~~the~~substantially ~~debt~~all ~~renegotiation~~pre-petition ~~costs~~liabilities ~~have~~are ~~been~~subject ~~expensed~~to insettlement ~~the~~under ~~accompanying~~a ~~Statements~~plan of ~~Operations.~~reorganization ~~THCR and its subsidiaries will continue~~ to ~~seek~~be tovoted ~~refinance~~upon ~~certain~~by ~~debt~~creditors ~~when~~and ~~market~~other ~~conditions~~stakeholders, ~~are~~and ~~favorable. See~~approved ~~“General--The~~by the ~~Company~~Bankruptcy ~~Has Substantial Indebtedness”~~Court.

~~Included~~The inDebtors ~~other~~have ~~non-operating~~received ~~income~~approval ~~for~~from the ~~nine~~Bankruptcy ~~months~~Court ~~ended~~of ~~September~~their ~~30,~~“first ~~2002~~day” motions, iswhich awere filed $0as part of the Chapter 11 Case.7 ~~million~~Among ~~distribution~~other ~~from~~“first ~~Miss~~day” ~~Universe~~relief, the Debtors received approval to ~~THCR~~continue ~~Holdings. There~~wage and salary payments and other benefits to employees as well as certain related pre-petition obligations; to continue to ~~was~~honor nocustomer ~~comparable~~programs ~~income~~as well as certain related pre-petition customer obligations; and to pay certain pre-petition trade claims held by critical vendors. The Debtors intend to continue to pay their vendors and suppliers in ~~2001~~the ordinary course of business for goods and services delivered post-petition.

~~During~~Under the ~~nine~~priority ~~months~~scheme ~~ended~~established ~~September~~by ~~30,~~the ~~2002~~Bankruptcy Code, ~~Trump~~certain post-petition ~~Indiana~~and ~~paid~~secured ~~sales~~or ~~tax~~“priority” ~~assessed~~pre-petition byliabilities ~~the~~need ~~State~~to be satisfied before general unsecured creditors and holders of ~~Indiana~~ ~~relating~~the Debtors’ equity are entitled to ~~its~~receive ~~vessel~~any distribution. No assurance can be given as to what values, if any, will be ascribed in the ~~amount~~bankruptcy proceedings to the claims and interests of ~~$1.8~~each ~~million~~of these constituencies. As ~~this~~Additionally, ~~assessment~~no isassurance ~~being~~can ~~appealed~~be bygiven ~~Trump~~as ~~Indiana~~to whether, itwhen ~~has~~or ~~been~~in ~~included~~what inform ~~other~~unsecured ~~assets. Trump~~creditors ~~Indiana~~and ~~believes~~holders ~~that~~of the Debtors’ ~~$1.8~~equity ~~million~~may ~~will~~receive bea ~~recoverable~~distribution on ~~settlement~~such ~~of the~~claims ~~appeal~~or interests.

~~Seasonality~~18

~~The~~Under ~~casino~~the ~~industry~~Bankruptcy inCode, ~~Atlantic~~we ~~City~~may assume, assume and ~~Indiana~~assign, isor ~~seasonal~~reject incertain ~~nature~~executory ~~with~~contracts ~~the~~and unexpired ~~peak~~leases, ~~season~~including, ~~occurring~~without inlimitation, leases of real property and equipment, subject to the ~~second~~approval of the Bankruptcy Court and ~~third~~certain ~~quarters~~other conditions. ~~Accordingly~~ Any description of an executory contract or unexpired lease in this Report, including where applicable our express termination rights or a quantification of our obligations, must be read in conjunction with, and is qualified by, any overriding rejection rights we have under the ~~results~~ Bankruptcy Code. As of ~~operations~~the ~~for~~date of the ~~period~~filing of ~~ending~~the ~~September~~Chapter 3011 Case, ~~2002~~virtually ~~are~~all ~~not~~pending ~~necessarily~~litigation ~~indicative~~against the Debtors (including the actions described below) is stayed as to the Debtors, and absent further order of the ~~operating~~Bankruptcy ~~results~~Court, ~~for~~no aparty, ~~full~~subject ~~year~~to certain exceptions, may take any action, also subject to certain exceptions, to recover on pre-petition claims against the Debtors.

~~ITEM~~2005 ~~3--~~Chapter 11 Case ~~QUANTITATIVE~~- Effective ~~AND~~as ~~QUALITATIVE~~of ~~DISCLOSURES~~March 17, ~~ABOUT~~2009, ~~MARKET~~the ~~RISK~~Bankruptcy Court ordered that all of the remaining open cases pertaining to the 2005 Chapter 11 Case be closed.

~~Not~~On ~~applicable~~July 18, 2005, the Bankruptcy Court considered a motion brought by a certain group of persons alleging that they had held shares of THCR’s common stock on the record date for distributions under the 2005 Plan (and who subsequently sold their shares prior to the distribution date) but did not receive any distributions under the 2005 Plan, which they believe were wrongly made to the beneficial holders of our THCR’s common stock on the distribution date. The movants had sought an order compelling us to make distributions to them under the 2005 Plan. After additional briefing and a court hearing with respect to the issue on October 8, 2005, the Bankruptcy Court denied the movants’ motion on February 17, 2006. The movants filed an appeal from the judgment entered in the Bankruptcy Court in favor of THCR. The movants appealed this motion to the United States District Court for the district of New Jersey. During April 2007, the United States District Court reversed the Bankruptcy Court’s denial and remanded the case back to the Bankruptcy Court for further consideration. In May 2007, we filed a notice of appeal to the United States Court of Appeals for the Third Circuit. By order dated November 5, 2008, the Court of Appeals affirmed the District Court’s order. While on remand in the Bankruptcy Court for further consideration in light of the District Court’s order, we filed a voluntary petition in the Bankruptcy Court on February 17, 2009, seeking relief under the provisions of chapter 11 of the Bankruptcy Code. As a result, the matter has been stayed pending the resolution of our bankruptcy proceedings. The Bankruptcy Court has ordered the movants act accordingly in the Chapter 11 Case with regard to their alleged claims.

~~ITEM~~Power 4Plant Litigation -- On December 30, 2004, TER Development Company, LLC (“TER Development”) filed a complaint against Richard T. Fields, Coastal Development, LLC, Power Plant Entertainment, LLC, Native American Development, LLC, Joseph S. ~~CONTROLS~~Weinberg ~~AND~~and ~~PROCEDURES~~The Cordish Company (collectively, the “Power Plant Group”) in the Circuit Court of the 17th Judicial District for Broward County, Florida, in which TER Development alleged that Power Plant Entertainment, LLC improperly obtained certain agreements with the Seminole Tribe of Florida for the development of gaming facilities in Hollywood and Tampa, Florida. TER Development has asserted claims for fraud, breach of fiduciary duty, conspiracy, violation of the Florida Deceptive and Unfair Trade Practices Act and interference with prospective business relationship as a result of the Power Plant Group’s actions. On April 17, 2008, the trial court ruled on the defendants’ numerous motions for summary judgment. The court denied the defendants’ motions as to TER Development’s claims against all defendants for fraud and conspiracy and as to TER Development’s claim against Richard T. Fields and Coastal Development, LLC under the Florida Deceptive and Unfair Trade Practices Act. The trial court granted the defendants’ motions for summary judgment as to TER Development’s claims for breach of fiduciary duty, aiding and abetting a breach of fiduciary duty, interference with prospective business relationship and the claims under the Florida Deceptive and Unfair Trade Practices Act as to the Power Plant Group. The defendants seek no relief against TER Development other than claims for attorney’s fees and costs in the event that they prevail at trial.

~~(a) Evaluation~~TER ~~of Disclosure Controls~~ and ~~Procedures. Based~~Coastal onDevelopment, ~~their~~LLC, ~~evaluation~~through asaffiliated ofand acontrolled ~~date~~subsidiaries, have ~~within~~executed 90an ~~days~~agreement offor the ~~filing~~ ~~date~~sale of ~~this~~Trump ~~Quarterly~~Marina ~~Report~~(see onNote ~~Form~~3). ~~10-Q,~~Upon the ~~Registrants’~~closing ~~principal~~of ~~executive~~the ~~officer~~sale ~~and~~of ~~principal~~Trump ~~financial~~Marina, ~~officer~~the ~~have~~complaint ~~concluded~~against ~~that~~ the ~~Registrants’ disclosure~~Power ~~controls~~Plant ~~and~~Group ~~procedures~~will ~~(as~~be ~~defined~~dismissed inwith ~~Rules~~prejudice ~~13a-14(c)~~ and ~~15d-14(c)~~all ~~under~~parties ~~the~~will ~~Securities~~be ~~Exchange~~fully ~~Act~~released offrom ~~1934~~any ~~(the~~claims in ~~“Exchange~~this ~~Act”))~~lawsuit. ~~are~~On ~~effective~~May 29, to2008, ~~ensure~~the ~~that~~parties ~~information~~filed ~~required~~a tojoint bemotion ~~disclosed~~to bystay the ~~Registrants~~action, inpending ~~reports that~~the ~~they~~closing ~~file~~of ~~or submit under~~ the ~~Exchange~~transaction. ~~Act~~On ~~is recorded~~May 30, ~~processed~~2008, ~~summarized~~the ~~and~~Court ~~reported~~granted ~~within~~ the ~~time~~stay ~~periods~~pending ~~specified~~further inorder ~~Securities~~of ~~and~~the ~~Exchange Commission rules and forms~~Court.

~~(b) Changes~~19 in Internal Controls. There were no specific changes in the Registrants’ internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

24(10) Recently Issued Accounting Pronouncements

~~Table~~In April 2008, the FASB issued FASB Staff Position FAS 142-3, “Determination of ~~Contents~~the Useful Life of Intangible Assets” (“FSP 142-3”). FSP 142-3 amends the factors that should be considered in developing renewal or extension assumptions used to determine the useful life of a recognized intangible asset under SFAS 142. The intent of FSP 142-3 is to improve the consistency between the useful life of a recognized intangible asset under SFAS 142 and the period of expected cash flows used to measure the fair value of the asset under SFAS 141(R) and other GAAP. FSP 142-3 is effective for financial statements issued for fiscal years and interim periods beginning after December 15, 2008. Early adoption of the standard is prohibited. FAS 142-3 became effective for our fiscal year beginning January 1, 2009. The adoption of the standard did not have an impact on our consolidated financial statements.

~~PART~~In IIMarch 2008, the FASB issued SFAS No. 161, “Disclosures about Derivative Instruments and Hedging Activities - an amendment of FASB Statement No. 133” (“SFAS 161”). SFAS No. 161 requires enhanced disclosure related to derivatives and hedging activities and thereby seeks to improve the transparency of financial reporting. Under SFAS 161, entities are required to provide enhanced disclosures relating to: (i) how and why an entity uses derivative instruments; (ii) how derivative instruments and related hedge items are accounted for under SFAS No. 133, “Accounting for Derivative Instruments and Hedging Activities” (“SFAS 133”), and its related interpretations; and (iii) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. SFAS 161 must be applied prospectively to all derivative instruments and non-derivative instruments that are designated and qualify as hedging instruments and related hedged items accounted for under SFAS 133 for all financial statements issued for fiscal years ~~OTHER~~and ~~INFORMATION~~interim periods beginning after November 15, 2008, with early application encouraged. SFAS 161 became effective for our fiscal year beginning January 1, 2009. The adoption of SFAS 161 did not have an impact on our consolidated financial statements.

~~ITEM~~In ~~1 --~~December 2007, the FASB issued SFAS No. 141 (Revised 2007), “Business Combinations” (“SFAS ~~LEGAL~~141(R)”). ~~PROCEEDINGS~~SFAS 141(R) retained the fundamental requirements in SFAS 141 that the acquisition method of accounting (which SFAS 141 called the purchase method) be used for all business combinations and for an acquirer to be identified for each business combination. SFAS 141(R), which is broader in scope than that of SFAS 141, which applied only to business combinations in which control was obtained by transferring consideration, applies the same method of accounting (the purchase method) to all transactions and other events in which one entity obtains control over one or more other businesses. SFAS 141(R) also makes certain other modifications to SFAS 141. We are required to apply the provisions of SFAS 141(R) to business combinations for which the acquisition date is on or after January 1, 2009. We do not expect that the adoption of SFAS 141(R) will have a material effect on our consolidated financial statements.

~~General~~In September 2006, the FASB issued SFAS No. ~~THCR~~ 157, ~~and~~“Fair ~~certain~~Value ofMeasurements” ~~its~~(“SFAS ~~employees~~157”) ~~have~~which ~~been~~defines ~~involved~~fair invalue, ~~various~~establishes ~~legal~~a ~~proceedings.~~framework ~~Such~~for ~~persons~~measuring ~~are~~fair ~~vigorously~~value ~~defending~~in ~~the~~GAAP, ~~allegations~~and ~~against~~expands ~~them~~disclosures about fair value measurements. In ~~general,~~SFAS ~~THCR~~157 ~~has~~applies ~~agreed~~under toother ~~indemnify~~accounting ~~such~~pronouncements ~~persons~~that ~~against~~require ~~any~~or permit fair value measurements and, ~~all~~accordingly, ~~losses~~does not require any new fair value measurements. On February 12, ~~claims~~2008, ~~damages~~the FASB issued FASB Staff Position No. FAS 157-2, ~~expenses~~Effective ~~(including~~Date ~~reasonable~~of ~~costs~~FASB Statement No. 157 (“FSP 157-2”), ~~disbursements~~which ~~and~~delayed ~~counsel~~the effective date of SFAS 157 to our fiscal year beginning ~~fees)~~January 1, 2009 for non-financial assets and non-financial liabilities, ~~(including~~except ~~amounts~~for ~~paid~~items that are recognized or ~~incurred~~disclosed at fair value in ~~satisfaction~~the financial statements on a recurring basis. Non-financial assets and non-financial liabilities for which we are required to apply the provisions of ~~settlements~~SFAS 157 include our intangible assets and long-lived assets measured at fair value under the provisions of SFAS 142, ~~judgments~~“Goodwill and Other Intangible Assets” and SFAS No. 144, “Accounting ~~fines~~for the Impairment or Disposal of Long-Lived Assets,” respectively. We adopted SFAS 157 effective January 1, 2008 for financial assets and ~~penalties)~~liabilities ~~incurred~~and byeffective ~~them~~January 1, in2009 ~~said~~for ~~legal~~non-financial ~~proceedings~~assets and non-financial liabilities. The adoption of SFAS 157 did not impact our consolidated financial statements.

~~Various~~20 other legal proceedings are now pending against THCR. Except as set forth herein and in THCR’s Annual Report on Form 10-K for the year ended December 31, 2001, THCR considers all such proceedings to be ordinary litigation incident to the character of its business and not material to its business or financial condition. THCR believes that the resolution of these claims, to the extent not covered by insurance, will not, individually or in the aggregate, have a material adverse effect on its financial condition or results of operations of THCR.

~~ITEM~~(11) 2Condensed ~~-- CHANGES~~Consolidated INFinancial ~~SECURITIES~~Statements ~~AND~~of ~~USE~~Debtors OFin ~~PROCEEDS~~ Possession

~~None~~In accordance with SOP 90-7, presented below are the condensed consolidated financial statements of the Debtors. Such financial statements have been prepared using standards consistent with the Company’s consolidated financial statements.

~~ITEM~~TRUMP 3ENTERTAINMENT ~~-- DEFAULTS~~RESORTS, ~~UPON~~INC. ~~SENIOR SECURITIES~~

~~None.~~DEBTORS IN POSSESSION

~~ITEM~~CONDENSED 4CONSOLIDATED ~~-- SUBMISSION~~STATEMENT OF ~~MATTERS~~OPERATIONS ~~TO A VOTE OF SECURITY HOLDERS~~

~~None.~~PERIOD FROM FEBRUARY 17, 2009 THROUGH MARCH 31, 2009

ITEM 5 -- OTHER INFORMATION


Revenues:
Gaming	$	77,545
Rooms		7,835
Food and beverage		8,499
Other		3,109

		96,988
Less promotional allowances		(25,134	)

Net revenues		71,854

Costs and expenses:
Gaming		36,679
Rooms		1,510
Food and beverage		4,174
General and administrative		23,156
Corporate and development		2,125
Corporate - related party		260
Depreciation and amortization		6,775
Reorganization expense		16,521

		91,200

Loss from operations		(19,346	)

Non-operating income (expense):
Interest income		206
Interest expense		(18,607	)

		(18,401	)

Loss before income taxes and discontinued operations		(37,747	)
Income tax benefit (provision)		—

Loss from continuing operations		(37,747	)

Loss from discontinued operations:
Trump Marina		(1,037	)
Income tax benefit (provision)		—

Loss from discontinued operations		(1,037	)

Net loss		(38,784	)
Less: Net loss attributable to noncontrolling interest		(9,114	)

Net loss attributable to Trump Entertainment Resorts, Inc.	$	(29,670	)


Amounts attributable to Trump Entertainment Resorts, Inc. common stockholders:
Loss from continuing operations, net of tax	$	(28,877	)
Discontinued operations, net of tax		(793	)

Net loss attributable to Trump Entertainment Resorts, Inc. common stockholders	$	(29,670	)

~~None.~~21

25TRUMP ENTERTAINMENT RESORTS, INC.

~~Table~~DEBTORS ofIN ~~Contents~~POSSESSION

~~ITEM~~CONDENSED 6CONSOLIDATED ~~-- EXHIBITS~~STATEMENT ~~AND~~OF ~~REPORTS~~CASH ONFLOWS ~~FORM 8-K~~

a.PERIOD ~~Exhibits:~~ FROM FEBRUARY 17, 2009 THROUGH MARCH 31, 2009

	99.1		Certification of the Chief Executive Officer of the Registrants Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
CASH FLOWS FROM OPERATING ACTIVITIES:
	99.2		Certification of the Chief Financial Officer of the Registrants Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Net loss		$	(38,784	)
Adjustments to reconcile net loss to net cash flows provided by operating activities:
Depreciation and amortization			6,861
Accretion of interest income related to property tax settlement			(96	)
Amortization of deferred financing costs			101
Provisions for losses on receivables			1,877
Stock-based compensation expense			200
Valuation allowance - CRDA investments			393
Non-cash reorganization expense			14,432
Changes in operating assets and liabilities:
Increase in receivables			(2,558	)
Decrease in inventories			318
Decrease in prepaid expenses and other current assets			7,950
Increase in other assets			(1,038	)
Increase in accounts payable, accrued expenses and other current liabilities			6,108
Increase in accrued interest payable			8,325
Decrease in other long-term liabilities			(81	)
Net cash flows provided by operating activities, including discontinued operations			4,008
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment, net			(3,678	)
Decrease in restricted cash			200
Net cash flows used in investing activities, including discontinued operations			(3,478	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of term loan			(1,232	)
Repayments of other long-term debt			(15	)
Net cash flows used in financing activities, including discontinued operations			(1,247	)
Net decrease in cash and cash equivalents			(717	)
Cash and cash equivalents at beginning of period, including cash reflected in assets held for sale			71,156
Cash and cash equivalents at end of period, including cash reflected in assets held for sale		$	70,439

b.22 ~~Current Reports on Form 8-K:~~

OnITEM ~~July~~2. ~~16, 2002, the Registrants filed a Form 8-K regarding Castle Associates~~MANAGEMENT’S ~~redemption~~DISCUSSION ofAND ~~the~~ANALYSIS ~~Castle~~OF ~~Senior~~FINANCIAL ~~Notes~~CONDITION ~~and~~AND ~~Castle~~RESULTS ~~Working~~OF ~~Capital Loan on July 12, 2002 with the net proceeds of the Term Credit Facility. On July 24, 2002, the Registrants filed a Form 8-K regarding THCR’s earnings for the quarter ended June 30, 2002.~~OPERATIONS

26Forward-Looking Statements

~~Table~~This Report contains statements that we believe are, or may be considered to be, “forward-looking statements” within the meaning of ~~Contents~~the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this Report regarding the prospects of our industry or our prospects, plans, financial position or business strategy, may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking words such as “may,” “will,” “expect,” “intend,” “estimate,” “foresee,” “project,” “anticipate,” “believe,” “plans,” “forecasts,” “continue” or “could” or the negatives of these terms or variations of them or similar terms. Furthermore, such forward-looking statements may be included in various filings that we make with the SEC, or press releases or oral statements made by or with the approval of one of our authorized executive officers. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct and there can be no assurance that the forward-looking statements contained in this Report, including with respect to the sale of Trump Marina or the ultimate impact of the events occurring during the reorganization process, will be realized. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements contained herein, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements. You are advised, however, to consult any additional disclosures we make in our reports to the SEC. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained in this Report.

For a more complete description of the ~~SIGNATURES~~risks that may affect our business, see our Annual Report on Form 10-K for the year ended December 31, 2008.

~~Pursuant~~Overview ~~to the requirements of the Securities Exchange Act of 1934, as amended, each of the registrants has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.~~

	TRUMP HOTELS & CASINO RESORTS, INC.
	(Registrant)
Date: November 14, 2002	By:	/s/ FRANCIS X. MCCARTHY, JR
		Francis X. McCarthy, Jr. Executive Vice President of Finance and Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer)
	TRUMP HOTELS & CASINO RESORTS HOLDIN GS, L.P.
	(Registrant)
	By:	TRUMP HOTELS & CASINO RESORTS, INC., its general partner
Date: November 14, 2002	By:	/s/ FRANCIS X. MCCARTHY, JR.
		Francis X. McCarthy, Jr. Executive Vice President of Finance and Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer)
	TRUMP HOTELS & CASINO RESORTS FUNDING, INC.
	(Registrant)
Date: November 14, 2002	By:	/s/ FRANCIS X. MCCARTHY, JR.
		Francis X. McCarthy, Jr. Executive Vice President of Finance and Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer)

We own and operate the Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino and the Trump Marina Hotel Casino in Atlantic City, New Jersey.

27Financial Condition

~~Table~~Liquidity ofand ~~Contents~~Capital Resources

Recent Chapter 11 Case. On February 17, 2009, TER and certain of its direct and indirect subsidiaries ~~CERTIFICATION~~(collectively, the “Debtors”) filed voluntary petitions in the United States Bankruptcy Court for the District of New Jersey in Camden, New Jersey (the “Bankruptcy Court”) seeking relief under the provisions of chapter 11 of the United States Code (the “Bankruptcy Code”). These chapter 11 cases are being jointly administered under the caption In re: TCI 2 Holdings, LLC, et al Debtors, Chapter 11 Case Nos.: 09-13654 through 09-13656 and 09-13658 through 09-13664 (JHW) (the “Chapter 11 Case”).

IWe intend to maintain business operations through the reorganization process. On February 20, ~~DONALD~~2009, Jthe Company obtained Bankruptcy Court approval to pay its vendors in the ordinary course of business. ~~TRUMP~~Our liquidity and capital resources, ~~certify~~however, ~~that:~~are significantly affected by the Chapter 11 Case. Our bankruptcy proceedings have resulted in various restrictions on our activities, limitations on financing and a need to obtain Bankruptcy Court approval for various matters. As a result of the filing of the Chapter 11 Case, the Debtors are not permitted to make any payments on pre-petition liabilities without prior Bankruptcy Court approval. However, the Debtors have been granted relief in order to continue wage and salary payments and other benefits to employees as well as other related pre-petition obligations; to continue to honor customer programs as well as certain related pre-petition customer obligations; and to pay certain pre-petition trade claims held by critical vendors. Under the priority schedule established by the Bankruptcy Code, certain post-petition and pre-petition liabilities need to be satisfied before general unsecured creditors and equity holders are entitled to receive any distribution. At this time, it is not possible to predict with certainty the effect of the Chapter 11 Case on our business or various creditors, or when we will emerge from these proceedings. Our future results depend upon our confirming and successfully implementing, on a timely basis, a plan of reorganization. The continuation of the Chapter 11 Case, particularly if a plan of reorganization is not timely approved or confirmed, could further adversely affect our operations.

1.	I have reviewed this quarterly report on Form 10-Q of Trump Hotels & Casino Resorts, Inc.;
2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4.	The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
		a)	designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;
		b)	evaluated the effectiveness of the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the “Evaluation Date”); and
		c)	presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5.		The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):
		a)	all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and
		b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls; and
6.		The registrant’s other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

~~Date:~~The ~~November~~filing 14of the Chapter 11 Case constituted an event of default and therefore triggered repayment obligations under the $493.3 million senior secured facility entered into by the Company on December 21, ~~2002~~2007 (the “2007 Credit Facility”) and the $1,250.0 million of Senior Secured Notes issued by TER Holdings and its wholly owned finance subsidiary, Trump Entertainment Resorts Funding, Inc. (“TER Funding”) on May 20, 2005 (the “Senior Notes”). As a result, all indebtedness outstanding under the Senior Notes and the 2007 Credit Facility became automatically due and payable. Under the Bankruptcy Code, actions to collect pre-petition indebtedness, as well as most pending litigation, are stayed and other contractual obligations against the Debtors generally may not be enforced. Absent an order of the Bankruptcy Court, substantially all pre-petition liabilities are subject to settlement under a plan of reorganization to be approved by the Bankruptcy Court. Consequently, the Company has classified the indebtedness under the Senior Notes and the 2007 Credit Facility within current liabilities in its Condensed Consolidated Balance Sheets.

~~/s/~~On ~~DONALD~~February 23, J.2009, ~~TRUMP~~the Bankruptcy ~~Donald~~Court Jentered an order approving on an interim basis the terms pursuant to which the Debtors are permitted to use the cash collateral under the 2007 Credit Facility. ~~Trump~~Such ~~Chief~~use ~~Executive~~was ~~Officer~~permitted ~~and~~in ~~President~~exchange offor ~~Trump~~certain ~~Hotels~~protections &afforded ~~Casino~~to the ~~Resorts,~~lenders ~~Inc~~under the 2007 Credit Facility.

28General. Cash flows from the operating activities of our casino properties constitute our primary source of liquidity. We may need to obtain additional financing to meet all of our liquidity requirements and other obligations. Currently our liquidity and cash flow is affected by a variety of factors, many of which are outside of our control, including the current global economic distress, the tightening of the credit markets, as well as the downturn in the Atlantic City gaming market, regulatory issues, competition, and other general business conditions. We cannot assure you that we will possess sufficient liquidity to fund our operations and capital expenditures. There can be no assurance as to our ability to obtain sufficient financing and meet our obligations. We are currently financing our operations during our reorganization using our cash on hand. The challenges of obtaining financing are exacerbated by adverse conditions in the general economy and the current tightening in the credit market. These conditions and our Chapter 11 Case make it more difficult for us to obtain financing.

~~Table~~We ofare ~~Contents~~operating in an extremely challenging business environment. Cash flows provided by operating activities were $2.4 million during the three months ended March 31, 2009 compared to $24.5 million during the three months ended March 31, 2008. The decrease in our cash flow from operations is principally due to decreased gaming revenues and changes in working capital requirements.

~~CERTIFICATION~~Cash flows used in investing activities were $16.9 million during the three months ended March 31, 2009 compared to $17.7 million during the three months ended March 31, 2008. Investing activities during 2009 include capital expenditures of $14.4 million, of which approximately $11.6 million related to the construction of the Chairman Tower. Investing activities during the three months ended March 31, 2008 included capital expenditures of $51.3 million. Capital expenditures during the three months ended March 31, 2008 included $39.0 million related to the construction of the Chairman Tower, which corresponded to the decrease in cash restricted for use in payment of expenditures associated with construction of the Chairman Tower.

IOur financing activities during the three months ended March 31, ~~DONALD~~2009 Jinclude repayments of $1.2 ~~TRUMP~~million of our outstanding term loan. During the three months ended March 31, ~~certify~~2008, ~~that:~~our cash flows used in financing activities of $2.5 million consisted of repayments of $1.3 million of our capital lease obligations and $1.0 million of our outstanding term loan. We also paid $0.2 million in partnership distributions to Mr. Trump during the three months ended March 31, 2008.

1.	I have reviewed this quarterly report on Form 10-Q of Trump Hotels & Casino Resorts Holdings, L.P.;
2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4.	The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
	a)	designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;
	b)	evaluated the effectiveness of the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the “Evaluation Date”); and
	c)	presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5.	The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):
	a)	all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and
	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls; and
6.	The registrant’s other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

At March 31, 2009, we had approximately $64.6 million in cash and cash equivalents. Our cash and cash equivalents do not include $5.8 million in cash included in Trump Marina’s assets held for sale and $2.6 million in restricted cash representing amounts used to secure outstanding letters of credit.

~~Date:~~At ~~November~~March 31, 142009, ~~2002~~there was a $487.5 million term loan outstanding under our 2007 Credit Facility. We also had $1,249.0 million of Senior Notes outstanding. The filing of the Chapter 11 Case constituted an event of default or otherwise triggered repayment obligations under the Senior Notes and the 2007 Credit Facility. As a result, all indebtedness outstanding under the Senior Notes and the 2007 Credit Facility became automatically due and payable, subject to an automatic stay of any action to collect, assert, or recover a claim against the Debtors and the application of applicable bankruptcy law.

~~/s/~~TER ~~DONALD~~has J.minimal ~~TRUMP~~operations, ~~Donald~~except J.for ~~Trump~~its ~~Chief~~ownership ~~Executive~~of ~~Officer~~TER Holdings and ~~President~~its subsidiaries. TER depends on the receipt of ~~Trump~~sufficient funds ~~Hotels~~from &its ~~Casino~~subsidiaries ~~Resorts,~~to ~~Inc.,~~meet ~~the~~its ~~general~~financial ~~partner~~obligations. The ability of ~~Trump~~our ~~Hotels~~subsidiaries &to ~~Casino~~make ~~Resorts~~payments to TER Holdings, Lmay also be restricted by the New Jersey Casino Control Commission (“CCC”).P.

2924

~~Table~~Off ofBalance ~~Contents~~Sheet Arrangements

~~CERTIFICATION~~We have not entered into any transactions with unconsolidated entities whereby we have financial guarantees, subordinated retained interest, derivative instruments or other contingent arrangements that expose us to material continuing risks, contingent liabilities or any other obligation under a variable interest in an unconsolidated entity that provides financing, liquidity, market risk or credit risk support to us.

I,Analysis ~~DONALD~~of J.Results ~~TRUMP,~~of ~~certify~~Operations ~~that:~~

1.	I have reviewed this quarterly report on Form 10-Q of Trump Hotels & Casino Resorts Funding, Inc.;
2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4.	The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
	a)	designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;
	b)	evaluated the effectiveness of the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the “Evaluation Date”); and
	c)	presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5.	The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):
	a)	all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and
	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls; and
6.	The registrant’s other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Our primary business activities are conducted by Trump Taj Mahal, Trump Plaza and Trump Marina. Our 2009 operating results continue to be affected by various factors including the effects of competition in adjoining states and a weakened economy. The following analyses compare our results of operations for the three months ended March 31, 2009 with our results of operations for the three months ended March 31, 2008 and should be read in conjunction with and give consideration to the following:

~~Date:~~Gross ~~November~~Gaming Revenues. For the three months ended March 31, 2009, gross gaming revenues in the Atlantic City market (as reported to the CCC) decreased 16.2% due to a 17.0% decrease in slot revenues and a 14.5% decrease in table game revenues compared to the three months ended March 31, ~~2002~~2008. For the three months ended March 31, 2009, we experienced a 12.6% decrease in overall gross gaming revenues comprised of a 15.8% decrease in slot revenues and a 6.2% decrease in table game revenues compared to the prior-year period.

~~/s/~~Basis ~~DONALD~~of JPresentation. ~~TRUMP~~On ~~Donald~~May 28, J.2008, Trump ~~Chief~~Marina ~~Executive~~Associates, ~~Officer~~LLC entered into the Marina Agreement to sell the Trump Marina Hotel Casino to Coastal Marina, LLC, an affiliate of Coastal Development, LLC. On October 28, 2008, the parties entered into an amendment to modify certain terms and ~~President~~conditions of the Marina Agreement. The closing is subject to the satisfaction of certain conditions, including receipt of approvals from New Jersey governmental authorities. There can be no assurance that the transaction for the sale of the Trump ~~Hotels~~Marina &will ~~Casino~~close. ~~Resorts~~In ~~Funding~~the event the closing does not occur, ~~Inc~~our recourse may be limited to the $2 million deposit currently held in escrow. Our consolidated financial statements reflect the results of Trump Marina as a discontinued operation. All prior periods presented have been reclassified to conform to the current period classification.

30The accompanying condensed consolidated financial statements have been prepared in accordance with AICPA Statement of Position (“SOP”) No. 90-7, “Financial Reporting by Entities in Reorganization under the Bankruptcy Code” (“SOP 90-7”) and on a going concern basis, which contemplates continuity of operations, realization of assets and liquidation of liabilities in the ordinary course of business. The ability of the Company, both during and after the Chapter 11 Case, to continue as a going concern is contingent upon, among other things; (i) the ability of the Company to generate cash from operations and to maintain adequate cash on hand; (ii) the resolution of the uncertainty as to the amount of claims that will be allowed; (iii) the ability of the Company to confirm a plan of reorganization under the Bankruptcy Code and obtain any debt and equity financing which may be required to emerge from bankruptcy protection; and (iv) the Company’s ability to achieve profitability. There can be no assurance that the Company will be able to successfully achieve these objectives in order to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result should the Company be unable to continue as a going concern.

~~Table~~25 ~~of Contents~~

~~CERTIFICATION~~The following table includes selected data of our casino properties and should be read with the following discussion of our results of operations.

I, FRANCIS X. MCCARTHY, JR., certify that:


	Three Months Ended March 31,
	2009			2008
Gaming revenues
Trump Taj Mahal	$	117.2		$	117.9
Trump Plaza		49.2			66.7

Total	$	166.4		$	184.6

Net revenues
Trump Taj Mahal	$	108.3		$	114.0
Trump Plaza		46.6			63.3

Total	$	154.9		$	177.3


Income (loss) from operations
Trump Taj Mahal	$	1.7		$	12.4
Trump Plaza		(8.7	)		2.3
Corporate and other		(17.0	)		(6.4	)

Total	$	(24.0	)	$	8.3


Depreciation and amortization
Trump Taj Mahal	$	10.4		$	8.6
Trump Plaza		3.8			4.8
Corporate and other		0.1			0.2

Total	$	14.3		$	13.6


Reorganization expense
Trump Taj Mahal	$	4.6		$	—
Trump Plaza		2.3			—
Corporate and other		11.9			—

Total	$	18.8		$	—


Discontinued operations - Trump Marina
Gaming revenues	$	41.3		$	53.5
Net revenues		37.4			50.3
Depreciation and amortization		0.2			3.5
Loss from discontinued operations		(2.7	)		(0.6	)

1.	I have reviewed this quarterly report on Form 10-Q of Trump Hotels & Casino Resorts, Inc.;
2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4.	The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
	a)	designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;
	b)	evaluated the effectiveness of the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the “Evaluation Date”); and
	c)	presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5.	The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):
	a)	all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and
	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls; and
6.	The registrant’s other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Comparison of Three-Month Periods Ended March 31, 2009 and 2008.

~~Date: November~~Each ~~14,~~of ~~2002~~our properties’ operating results were as follows:

~~/s/~~Trump ~~FRANCIS~~Taj XMahal – Gaming revenues decreased $0.7 ~~MCCARTHY,~~million JRdue to a $6.1 ~~Francis~~million Xdecrease in slot revenue partially offset by a $5.4 ~~McCarthy~~million increase in table games and other gaming revenue. The decrease in slot revenue resulted from a nearly 10% decrease in slot handle. Table games revenue increased principally due to a 13% increase in table game play. Net revenues decreased $5.7 million principally due to the decrease in gaming revenues, Jra $4.1 million ~~Executive~~increase ~~Vice~~in ~~President~~gaming ofpromotional ~~Finance~~offers and ~~Chief~~a ~~Financial~~$0.6 ~~Officer~~million ofdecrease ~~Trump~~in ~~Hotels~~cash &rooms, ~~Casino~~food ~~Resorts,~~and ~~Inc~~beverage revenue.

31Before consideration of $4.6 million of non-cash reorganization expense, income from operations decreased $6.1 million due to the decrease in net revenues and a $0.4 million increase in operating costs and expenses. Total operating costs and expenses increased principally due to: a $1.8 million increase in depreciation expense, principally due to depreciation expense associated with the Chairman Tower; a $1.2 million increase in property taxes and insurance costs; and a $0.9 million increase in provisions for doubtful accounts. These increases were nearly offset by: a $1.2 million decrease in marketing and entertainment costs; a $0.8 million decrease in general and administrative expenses; a $0.7 million decrease in the cost of food and beverage sales; and a $0.5 million decrease in payroll and related costs due to the implementation of various cost savings initiatives.

~~Table~~26 ~~of Contents~~

~~CERTIFICATION~~Trump Plaza – Gaming revenues decreased $17.5 million due to a $10.3 million decrease in slot revenue and a $7.2 million decrease in table game revenue. The decrease in slot revenue was principally due to a 24% decrease in slot handle. Table game revenue decreased due to a 15% decrease in table game play and a significant decrease in hold percentage. Net revenues decreased $16.7 million due to the decrease in gaming revenue and a $1.1 million decrease in cash rooms, food and beverage revenue partially offset by a $2.1 million decrease in gaming promotional offers.

IBefore consideration of $2.3 million of non-cash reorganization expense, ~~FRANCIS~~income Xfrom operations decreased $8.7 ~~MCCARTHY~~million as the $16.7 million decrease in net revenues was partially offset by an $8.0 million decrease in operating expenses. The decline in operating expenses was primarily attributable to: a $2.3 million decrease in payroll and related costs, JRdue to the implementation of various cost savings initiatives; a $1.4 million decrease in gaming taxes, ~~certify~~due ~~that:~~to lower gaming revenues; a $1.1 million decrease in marketing and entertainment expenses; a $1.0 million decrease in depreciation expense; a $0.7 million decrease in utility costs; and a $1.5 million net decrease in other costs and expenses, principally general and administrative expenses and the cost of food and beverage sales.

1.	I have reviewed this quarterly report on Form 10-Q of Trump Hotels & Casino Resorts Holdings, L.P.;
2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4.	The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
	a)	designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;
	b)	evaluated the effectiveness of the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the “Evaluation Date”); and
	c)	presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5.	The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):
	a)	all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and
	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls; and
6.	The registrant’s other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Corporate and Other – Corporate and other expenses before reorganization expenses of $11.9 million, decreased $1.3 million principally due to decreases in legal fees, payroll and related costs and stock-based compensation expense.

~~Date:~~Our ~~November~~other ~~14,~~overall ~~2002~~costs were as follows:

~~/s/~~Interest ~~FRANCIS~~Income X.– ~~MCCARTHY,~~Interest ~~JR.~~income ~~Francis~~was X$0.5 ~~McCarthy,~~million ~~Jr.~~during ~~Executive~~the ~~Vice~~quarter ~~President~~ended ofMarch 31, ~~Finance~~2009 ~~and~~compared ~~Chief~~to ~~Financial~~$1.8 ~~Officer~~million ofduring ~~Trump~~the ~~Hotels~~quarter ended ~~& Casino Resorts~~March 31, ~~Inc.,~~2008 ~~the~~due ~~general~~to ~~partner~~lower ofaverage ~~Trump~~invested ~~Hotels~~cash &and ~~Casino~~cash ~~Resorts Holdings, L~~equivalents.P.

32Interest Expense – Interest expense increased $5.4 million to $39.3 million during the quarter ended March 31, 2009 compared to the quarter ended March 31, 2008. Interest expense increased due to (i) higher average borrowings outstanding under the 2007 Credit Facility, (ii) a $2.4 million decrease in capitalized interest as a result of the substantial completion of the Chairman Tower and (iii) the accrual of default interest related to the past due interest payment on the Senior Notes.

~~Table~~Trump ofMarina ~~Contents~~Discontinued Operations – Net revenues during the three months ended March 31, 2009 decreased $12.9 million, principally due to a $12.2 million decline in gaming revenues. The lower net revenues were offset by an $11.0 million decrease in operating expenses including (i) a $3.3 million reduction in depreciation and amortization expense as Trump Marina’s assets are no longer depreciated in accordance with SFAS 144 and (ii) reductions in other operating costs and expenses including payroll and related costs, promotional expenses and gaming taxes.

~~CERTIFICATION~~Critical Accounting Estimates

I,General ~~FRANCIS~~– Our X.consolidated ~~MCCARTHY~~financial statements are prepared in accordance with accounting principles generally accepted in the United States, JRwhich require our management to make estimates and assumptions about the effects of matters that are inherently uncertain. Of our accounting estimates, ~~certify~~we ~~that:~~believe the following may involve a higher degree of judgment and complexity.

1.	I have reviewed this quarterly report on Form 10-Q of Trump Hotels & Casino Resorts Funding, Inc.;
2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;
4.	The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
	a)	designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;
	b)	evaluated the effectiveness of the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the “Evaluation Date”); and
	c)	presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5.	The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):
	a)	all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and
	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls; and
6.	The registrant’s other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Intangible Assets – We had approximately $56.4 million of intangible assets recorded on our balance sheet at March 31, 2009. We regularly evaluate our businesses for potential impairment indicators. Additionally, we perform impairment testing at least annually. Our judgments regarding the existence of impairment indicators are based on, among other things, pending sales of assets, the regulatory and competitive status, operational performance of each of our businesses, and financial market valuations of conditions surrounding our business entities and the gaming industry. Future events, such as the failure to meet or exceed our operating plans, increased competition, the enactment of increased gaming or tax rates, or changes in market valuations could significantly impact our judgments and any resulting impairment loss could have a material adverse impact on our financial condition and results of operations.

~~Date:~~Property ~~November~~and 14Equipment – Our operations are capital intensive and we make capital investments at each of our properties in the form of maintenance capital and, ~~2002~~from time to time, expansion and product enhancement capital. At March 31, 2009, we had approximately $1,470.7 million of net property and equipment recorded on our balance sheet, excluding net property and equipment held for sale. We depreciate our assets on a straight-line basis over their estimated useful lives. The estimates of the useful lives are based on the nature of the assets as well as our current operating strategy. Future events, such as property expansions, new competition and new regulations, could result in a change in the manner in which we use certain assets requiring a change in the estimated useful lives of such assets. In assessing the recoverability of the carrying value of property and equipment, we must make assumptions regarding estimated future cash flows and other factors. If these estimates or the related assumptions change in the future, we may be required to record impairment charges for these assets.

~~/s/~~27 ~~FRANCIS X. MCCARTHY, JR. Francis X. McCarthy, Jr. Executive Vice President of Finance and Chief Financial Officer of Trump Hotels & Casino Resorts Funding, Inc.~~

33TrumpONE Liability – Our unified player’s program, TrumpONE, allows customers to accumulate certain point-based rewards based on the volume of their gaming activity. TrumpONE customers may earn comp dollars redeemable for complimentary food, beverage and retail items and “cash-back points” which are redeemable in cash. Comp dollars and cash-back points accumulate over time and may be redeemed at the customer’s discretion under the terms of the program. Comp dollars and cash-back points are forfeited if a customer does not redeem earned rewards over a specified period of time. As a result of the ability of the customer to accumulate comp dollars and cash-back points, we accrue the associated expense, after giving effect to estimated forfeitures, as they are earned. At March 31, 2009, $2.9 million was accrued related to comp dollars and $1.5 million was accrued related to cash-back points earned under this program. Our accruals could be significantly affected if estimated forfeitures vary from historical levels or changes occur in the cost of providing complimentary food, beverage and retail items under the TrumpONE program. Management reviews our accruals for adequacy at the end of each reporting period.

~~Table~~Insurance Accruals – Our insurance policies for employee health, workers’ compensation and general patron liabilities have significant deductible levels on an individual claim basis. We accrue a liability for known workers’ compensation and general patron liabilities based upon a review of ~~Contents~~individual claims. Additionally, we accrue an amount for incurred but not reported claims based on our historical experience and other factors. Our employee health insurance benefit accrual is based on our historical claims experience rate including an estimated lag factor. These accruals involve complex estimates and could be significantly affected should current claims vary from historical levels. Management reviews our insurance accruals for adequacy at the end of each reporting period.

Income Taxes – We are subject to income taxes in the United States and in several states. We account for income taxes, including our current, ~~EXHIBIT~~deferred ~~INDEX~~and non-cash charge in lieu of tax provisions in accordance with SFAS Statement 109, “Accounting for Income Taxes” and Financial Accounting Standards Board Interpretation No. 48, “Accounting for Uncertainty in Income Taxes”. The calculation of our income tax provision is complex and requires the use of estimates. Management reviews our provision for income taxes at the end of each reporting period. Additionally, our income tax returns are subject to examination by various taxing authorities. We regularly assess the potential outcomes of these examinations in determining the adequacy of our provision for income taxes and our income tax liabilities. Inherent in our determination of any necessary reserves are assumptions based on past experiences and judgments about potential actions by taxing authorities. Our estimate of the potential outcome for any uncertain tax issue is highly judgmental. We believe we have adequately provided for any reasonable and foreseeable outcome related to uncertain tax matters. When actual results of tax examinations differ from our estimates, we adjust the income tax provision in the period in which the examination issues are settled.

Exhibit No.		Description
99.1		Certification of the Chief Executive Officer of the Registrants Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
99.2		Certification of the Chief Financial Officer of the Registrants Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

34Market risk is the risk of loss arising from adverse changes in market rates and prices, including interest rates, foreign currency exchange rates and commodity rates. Our primary exposure to market risk is interest rate risk associated with our long-term debt. We attempt to manage our interest rate risk by managing the mix of our long-term fixed rate and variable rate borrowings.

The following table provides information about our debt obligations that are sensitive to changes in interest rates. The following table also presents principal cash flows and related weighted average interest rates by expected maturity date of our debt obligations, except capitalized lease obligations.


(Dollars in millions)	Remainder of 2009			2010		2011		2012		2013		Thereafter		Total
Fixed rate debt maturities	$	1,249.0		$	—	$	—	$	—	$	—	$	—	$	1,249.0
Average interest rate		8.5	%
Variable rate debt maturities	$	487.5		$	—	$	—	$	—	$	—	$	—	$	487.5
Average interest rate		8.2	%

As previously discussed, on February 17, 2009, the Company and certain of its subsidiaries filed the Chapter 11 Case. The filing of the Chapter 11 Case constituted an event of default and therefore triggered repayment obligations under the Senior Notes and 2007 Credit Facility. As a result, all indebtedness outstanding under the Senior Notes and the 2007 Credit Facility (which has a cross-default provision with the Senior Notes) became automatically due and payable. Under the Bankruptcy Code, actions to collect pre-petition indebtedness, as well as most pending litigation, are

stayed and other contractual obligations against the Debtors generally may not be enforced. Absent an order of the Bankruptcy Court, substantially all pre-petition liabilities are subject to settlement under a plan of reorganization to be approved by the Bankruptcy Court. Consequently, the Company has classified the indebtedness under the Senior Notes and the 2007 Credit Facility within current liabilities in its Consolidated Balance Sheet as of December 31, 2008.

In addition, until such time as no event of default exists, (i) the interest rate on the Senior Notes increases by an additional 1% per annum in excess of the 8.5% interest rate on any overdue principal or interest relating to the Senior Notes and (ii) the interest rate under the 2007 Credit Facility increases by an additional 2% in excess of the otherwise applicable interest rate on amounts outstanding under the 2007 Credit Facility.

We currently have no outstanding interest rate swaps. From time to time, we enter into interest rate swap agreements to change the proportion of fixed to variable rate debt within parameters established by management. In accordance with these parameters, the agreements are used to manage interest rate risks and cost inherent in our debt portfolio.

ITEM 4 and 4T. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures. Based on their evaluation as of the end of the period covered by this Quarterly Report on Form 10-Q, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”)) were effective to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and (ii) accumulated and communicated to management, including the principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

Changes in Internal Controls Over Financial Reporting. There have been no changes in our internal controls over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter covered by this Form 10-Q that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1.

LEGAL PROCEEDINGS

A reference is made to the information contained in Note 9 of our unaudited condensed consolidated financial statements included herein, which is incorporated herein by reference.

ITEM 1A.

RISK FACTORS

In addition to the other information set forth in this Report, you should carefully consider the risk factors discussed in Part I, “Item 1A. Risk Factors” in our Annual Report on Form 10–K for the year ended December 31, 2008 (the “2008 Annual Report”). The risks described in our 2008 Annual Report, as updated by our quarterly reports on Form 10–Q, are not the only risks we face.

ITEM 2.

UNREGISTERED SALE OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3.

DEFAULTS UPON SENIOR SECURITIES

Information required by this item was previously disclosed on a Form 8-K filed on February 17, 2009.

Also, see Note 4 to our unaudited Condensed Consolidated Financial Statements, included herein, which is incorporated herein by reference.

ITEM 4.

SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

ITEM 5.

OTHER INFORMATION

None.

ITEM 6.

EXHIBITS


31.1		Certification by the Chief Executive Officer of Trump Entertainment Resorts, Inc. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

31.2		Certification by the Chief Financial Officer of Trump Entertainment Resorts, Inc. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

31.3		Certification by the Chief Executive Officer of Trump Entertainment Resorts Holdings, L.P. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

31.4		Certification by the Chief Financial Officer of Trump Entertainment Resorts Holdings, L.P. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

31.5		Certification by the Chief Executive Officer of Trump Entertainment Resorts Funding, Inc. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

31.6		Certification by the Chief Financial Officer of Trump Entertainment Resorts Funding, Inc. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

32.1		Certification of the Chief Executive Officer of Trump Entertainment Resorts, Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2		Certification of the Chief Financial Officer of Trump Entertainment Resorts, Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.3		Certification of the Chief Executive Officer of Trump Entertainment Resorts Holdings, L.P. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.4		Certification of the Chief Financial Officer of Trump Entertainment Resorts Holdings, L.P. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.5		Certification of the Chief Executive Officer of Trump Entertainment Resorts Funding, Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.6		Certification of the Chief Financial Officer of Trump Entertainment Funding, Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, each of the registrants has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


	TRUMP ENTERTAINMENT RESORTS, INC. (Registrant)

Date: May 8, 2009	By:	/s/ JOHN P. BURKE
		John P. Burke
		Executive Vice President, Chief Financial Officer and Corporate Treasurer of Trump Entertainment Resorts, Inc.

	TRUMP ENTERTAINMENT RESORTS HOLDINGS, L.P. (Registrant)

	By:	TRUMP ENTERTAINMENT RESORTS, INC., its general partner

Date: May 8, 2009	By:	/s/ JOHN P. BURKE
		John P. Burke
		Executive Vice President, Chief Financial Officer and Corporate Treasurer of Trump Entertainment Resorts Holdings, L.P.

	TRUMP ENTERTAINMENT RESORTS FUNDING, INC. (Registrant)

Date: May 8, 2009	By:	/s/ JOHN P. BURKE
		John P. Burke
		Executive Vice President, Chief Financial Officer and Corporate Treasurer of Trump Entertainment Resorts Funding, Inc.

EXHIBIT INDEX


Exhibit No.		Exhibit
31.1		Certification by the Chief Executive Officer of Trump Entertainment Resorts, Inc. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

31.2		Certification by the Chief Financial Officer of Trump Entertainment Resorts, Inc. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

31.3		Certification by the Chief Executive Officer of Trump Entertainment Resorts Holdings, L.P. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

31.4		Certification by the Chief Financial Officer of Trump Entertainment Resorts Holdings, L.P. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

31.5		Certification by the Chief Executive Officer of Trump Entertainment Resorts Funding, Inc. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

31.6		Certification by the Chief Financial Officer of Trump Entertainment Resorts Funding, Inc. pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934, as amended

32.1		Certification of the Chief Executive Officer of Trump Entertainment Resorts, Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2		Certification of the Chief Financial Officer of Trump Entertainment Resorts, Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.3		Certification of the Chief Executive Officer of Trump Entertainment Resorts Holdings, L.P. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.4		Certification of the Chief Financial Officer of Trump Entertainment Resorts Holdings, L.P. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.5		Certification of the Chief Executive Officer of Trump Entertainment Resorts Funding, Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.6		Certification of the Chief Financial Officer of Trump Entertainment Resorts Funding, Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

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