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twitterCasino operator faces SEC fine
Tuesday, Aug. 15, 2000 | 10:57 a.m.
THE ASSOCIATED PRESS
ATLANTIC CITY -- Trump Hotels & Casino Resorts Inc. said Monday that the U.S. Securities and Exchange Commission might pursue legal action against the company over an earnings release that the SEC says was misleading.
The staff of the SEC's Northeast Regional Office has said it might seek the SEC's authority for fines against the company, a former chief executive and a former chief financial officer, Trump Hotels said in an SEC filing. Atlantic City-based Trump Hotels is the casino company controlled by real estate developer Donald Trump.
The company's press release, issued last October, failed to disclose that $17 million of Trump Hotels' third-quarter 1999 operating income came from a one-time gain. The gain was related to the purchase of an All-Star Cafe from Planet Hollywood International Inc.
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