Casino chairman bought shares

Thursday, Aug. 2, 2001 | 10:51 a.m.

ATLANTIC CITY -- Trump Hotels & Casino Resorts Inc. Chairman Donald Trump bought 255,000 shares of company's stock last month to boost his stake to nearly 6 percent.

Trump bought the shares, worth about $507,000, from July 16 to July 20, according to the Washington Service, which tracks trading by company insiders. Trump paid $1.96 to $1.99 a share, the service said. The shares fell 5 cents to $1.80 Wednesday.

With the purchase Trump holds about 1.27 million of the 22 million shares outstanding in the company, which owns casinos including the Taj Mahal and Trump Plaza in Atlantic City, where it's based, as well as a riverboat casino in Indiana.

Trump shares have fallen 37 percent in the past year. Debt analysts have raised questions this year about the company's ability to make interest payments on $109.5 million of junk notes.

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