A.C. operator posts big income increase

Thursday, Nov. 2, 2000 | 11:28 a.m.

THE ASSOCIATED PRESS

Trump Hotels & Casino Resorts Inc. of New York reported net income of $9 million or 41 cents per share for the quarter ending Sept. 30.

The figure was a substantial improvement over the net loss of $67.5 million, or $3.04 per share, posted in the year-ago quarter. Income in the year-ago quarter included an $81.4 million charge for the closing of Trump World's Fair and a $10.9 million gain from the termination of a lease with All Star Cafe.

Factoring out extraordinary gains and charges, Trump earned $7.8 million for the quarter, up 156 percent from the year-ago quarter.

Revenues rose less than 1 percent, to $388.9 million, while cash flow increased 4 percent to $93.4 million.

The strongest performance increase was posted by Trump Taj Mahal, where cash flow rose 43 percent to $48.3 million. All of Trump's other properties showed cash flow increases with the exception of Trump Plaza, where cash flow declined 42 percent to $18.1 million.

Trump operates three Atlantic City casinos -- Trump Plaza, Trump Taj Mahal and Trump Marina -- as well as a riverboat in Indiana.

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