NEW YORK -- (PRESS RELEASE) -- Trump Hotels & Casino Resorts, Inc. ("THCR" or the "Company") (NYSE:DJT) today reported its operating results for the second quarter and six months ended June 30, 2004. THCR reported consolidated net revenues (defined as gross revenues less promotional allowances) for the quarter ended June 30, 2004 of $293.2 million, compared to $306.9 million for the quarter ended June 30, 2003. Consolidated income from operations for the quarter ended June 30, 2004 was $39.8 million, compared to $47.2 million for the quarter ended June 30, 2003. Consolidated net loss for the quarter ended June 30, 2004 was $17.6 million, or $0.59 per share, compared to a net loss of $10.0 million, or $0.46 per share, for the quarter ended June 30, 2003. EBITDA (defined as income from operations before depreciation, amortization, non-cash CRDA write-downs, non-recurring debt renegotiation costs and corporate expenses) for the quarter ended June 30, 2004 was $67.9 million, compared to EBITDA of $75.5 million reported for the quarter ended June 30, 2003. Readers are advised that the term "EBITDA" is not a measure of financial performance under generally accepted accounting principles. The Company uses EBITDA because it believes that it is used by certain investors in measuring an entity's operating performance. A reconciliation of EBITDA to income from operations is included in the attached schedules.

THCR reported consolidated net revenues (defined as gross revenues less promotional allowances) for the six months ended June 30, 2004 of $569.4 million, compared to $585.7 million for the six months ended June 30, 2003. Consolidated income from operations for the six months ended June 30, 2004 was $67.6 million, compared to $74.5 million for the six months ended June 30, 2003. EBITDA for the six months ended June 30, 2004 was $124.6 million, compared to EBITDA of $132.2 million for the six months ended June 30, 2003. Consolidated net loss for the six months ended June 30, 2004 was $66.4 million, or $2.22 per share, compared to a net loss of $34.0 million, or $1.55 per share, net of minority interest of $5.1 million, for the six months ended June 30, 2003.

Donald J. Trump, Chairman, President and Chief Executive Officer, commented, "We all know about the increased competition in Atlantic City. I believe that rising gas prices and other inflationary pressures have reduced many of our customers' gaming budgets and, consequently, our gaming revenue. Given these facts, it is understandable that the Company's operating results for this year's second quarter would be less than last year's. The contemplated recapitalization of the Company is all the more important given this current economy. The proposed $400 million investment by Credit Suisse First Boston's private equity fund, DLJ Merchant Banking Partners III, L.P., which we discussed previously, would help the Company reduce its expensive debt and provide additional cash flow to invest back into the properties." Scott C. Butera, Executive Vice President, Director of Corporate & Strategic Development, commented further, "The changing landscape in the gaming industry presents both challenges and opportunities. As such, our proposed recapitalization plan is an important step in positioning our company as a strong competitor in light of recent developments, including the expansion of gaming into Pennsylvania and the mega mergers of Harrah's with Caesars and MGM Mirage with Mandalay Resort Group. We have made significant progress in our negotiations, and are striving for a successful outcome in the near term."

Trump Taj Mahal Associates reported net revenues of $120.4 million for the quarter ended June 30, 2004, compared to $127.9 million for the quarter ended June 30, 2003. Income from operations for the quarter ended June 30, 2004 was $18.1 million, compared to $21.4 million for the quarter ended June 30, 2003. EBITDA was $30.7 million for the quarter ended June 30, 2004, compared to $33.9 million for the quarter ended June 30, 2003. Trump Taj Mahal Associates reported net revenues of $233.1 million for the six months ended June 30, 2004, compared to $246.5 million for the six months ended June 30, 2003. Income from operations for the six months ended June 30, 2004 was $30.2 million, compared to $37.4 million for the six months ended June 30, 2003. EBITDA was $55.8 million for the six months ended June 30, 2004, compared to $61.1 million for the six months ended June 30, 2003. Mark A. Brown, the Company's Chief Operating Officer, commented, "Despite a $9.2 million reduction in gaming revenue for the quarter ended June 30, 2004, the Taj Mahal's operating results were down by $3.2 million, evidencing our cost control discipline. Given our capital constraints, we must diligently monitor our marketing and other controllable expenses. Regardless, we continue to provide a memorable gaming experience for our patrons with innovative programs and first rate entertainment."

Trump Plaza Associates reported net revenues of $73.4 million for the quarter ended June 30, 2004, compared to $78.8 million for the quarter ended June 30, 2003. Income from operations for the quarter ended June 30, 2004 was $8.5 million, compared to $13.6 million for the quarter ended June 30, 2003. EBITDA was $14.3 million for the quarter ended June 30, 2004, compared to $19.0 million for the quarter ended June 30, 2003. Trump Plaza Associates reported net revenues of $139.0 million for the six months ended June 30, 2004, compared to $148.7 million for the six months ended June 30, 2003. Income from operations for the six months ended June 30, 2004 was $13.0 million, compared to $20.8 million for the six months ended June 30, 2003. EBITDA was $25.0 million for the six months ended June 30, 2004, compared to $31.9 million for the six months ended June 30, 2003. Mr. Brown said, "Of the $4.7 million decrease in the Plaza's EBITDA for the quarter ended June 30, 2004, $3.7 million can be attributed to the Plaza's 2.9 point decrease in table game hold percentage which was 14.4% for the quarter ended June 30, 2004, compared to 17.3% for the quarter ended June 30, 2003. The Plaza has an array of new restaurants, including the very popular Rainforest Cafe and the trendy EVO on the Boardwalk, and the China Cafe on the mezzanine level. Our Beach Bar has reopened, and again, is a big hit with our patrons."

Trump Marina Associates reported net revenues of $62.3 million for the quarter ended June 30, 2004, compared to $68.2 million for the quarter ended June 30, 2003. Income from operations for the quarter ended June 30, 2004 was $7.0 million, compared to $9.6 million for the quarter ended June 30, 2003. EBITDA was $12.8 million for the quarter ended June 30, 2004, compared to $15.9 million for the quarter ended June 30, 2003. Trump Marina Associates reported net revenues of $120.5 million for the six months ended June 30, 2004, compared to $126.7 million for the six months ended June 30, 2003. Income from operations for the six months ended June 30, 2004 was $11.0 million, compared to $12.2 million for the six months ended June 30, 2003. EBITDA was $22.6 million for the six months ended June 30, 2004, compared to $24.2 million for the six months ended June 30, 2003. Mr. Brown commented, " Like the Plaza, approximately $2.0 million of the $ 3.1 million decrease in EBITDA at the Marina for the quarter ended June 30, 2004 can be attributed to the 2.5 point decrease in table game hold percentage which was 15.4% for the quarter ended June 30, 2004, compared to 17.9% for the quarter ended June 30, 2003. As with all our properties, we continue to upgrade our slot machines and reduce operating expenses where possible to help improve our margins."

Trump Indiana reported net revenues of $35.0 million for the quarter ended June 30, 2004, compared to $30.8 million for the quarter ended June 30, 2003. Income from operations for the quarter ended June 30, 2004 was $4.7 million, compared to $2.3 million for the quarter ended June 30, 2003. EBITDA was $8.1 million for the quarter ended June 30, 2004, compared to $5.7 million for the quarter ended June 30, 2003. During the second quarter of 2003, the Company recorded an additional $1.9 million retroactive gaming tax required by recent legislation, which changed the effective dates of Indiana's gaming tax structure. Trump Indiana reported net revenues of $72.3 million for the six months ended June 30, 2004, compared to $61.6 million for the six months ended June 30, 2003. Income from operations for the six months ended June 30, 2004 was $10.2 million, compared to $6.4 million for the six months ended June 30, 2003. EBITDA was $16.9 million for the six months ended June 30, 2004, compared to $13.3 million for the six months ended June 30, 2003. Mr. Brown commented, "As I stated last quarter, our targeted marketing programs and the introduction of poker continues to drive higher revenues, operating income and EBITDA."

THCR Management Services earned $2.2 million in management fees during the quarter ended June 30, 2004, compared to $1.2 million for the quarter ended June 30, 2003, and incurred $0.1 million in associated general and administrative costs for the quarter ended June 30, 2004, compared to $0. 2 million for the quarter ended June 30, 2003. For the six months ended June 30, 2004, management fees totaled $4.5 million, compared to $2.1 million for the six months ended June 30, 2003, and incurred $0.2 million in associated general and administrative costs for the six months ended June 30, 2004, compared to the $0.3 million for the six months ended June 30, 2003. Mr. Brown said, "Trump 29's operating performance and our management fees improved dramatically in 2004, compared to prior years. By fine-tuning its marketing programs and player incentives, repeat visitations and overall gaming volume have improved. This improvement is especially gratifying in light of the increased competition by other Native American casinos in the Southern California region."

Trump Atlantic City Associates ("TACA") reported combined net revenues of Trump Plaza and Trump Taj Mahal of $193.8 million for the quarter ended June 30, 2004, compared to net revenues of $206.7 million for the quarter ended June 30, 2003. Income from operations for the quarter ended June 30, 2004 was $26.5 million, compared to $34.6 million for the quarter ended June 30, 2003. EBITDA was $44.9 million for the quarter ended June 30, 2004, compared to $52.9 million for the quarter ended June 30, 2003. TACA reported combined net revenues of Trump Plaza and Trump Taj Mahal of $372.1 million for the six months ended June 30, 2004, compared to net revenues of $395.2 million for the six months ended June 30, 2003. Income from operations for the six months ended June 30, 2004 was $43.1 million, compared to $57.9 million for the six months ended June 30, 2003. EBITDA was $80.8 million for the six months ended June 30, 2004, compared to $93.0 million for the six months ended June 30, 2003.

Trump Casino Holdings, LLC ("TCH") reported combined net revenues of Trump Marina and Trump Indiana and management fees from Trump 29 of $99.4 million for the quarter ended June 30, 2004, compared to net revenues of $100.2 million for the quarter ended June 30, 2003. Income from operations for the quarter ended June 30, 2004 was $15.1 million, compared to $14.0 million for the quarter ended June 30, 2003. EBITDA was $23.0 million for the quarter ended June 30, 2004, compared to $22.6 million for the quarter ended June 30, 2003. TCH reported combined net revenues of Trump Marina and Trump Indiana and management fees from Trump 29 of $197.3 million for the six months ended June 30, 2004, compared to net revenues of $190.5 million for the six months ended June 30, 2003. Income from operations for the six months ended June 30, 2004 was $28.0 million, compared to $21.3 million for the six months ended June 30, 2003. EBITDA was $43.8 million for the six months ended June 30, 2004, compared to $39.3 million for the six months ended June 30, 2003.

THCR, through its wholly owned subsidiaries, owns and operates four properties and manages one property under the Trump brand name. THCR's assets include Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, located on the Boardwalk in Atlantic City, New Jersey, Trump Marina Hotel Casino, located in Atlantic City's Marina District, and the Trump Casino Hotel, a riverboat casino located in Gary, Indiana. In addition, the Company manages Trump 29 Casino, a Native American owned facility located near Palms Springs, California. Together, the properties comprise approximately 451,280 square feet of gaming space and 3,180 hotel rooms and suites. The Company is the sole vehicle through which Donald J. Trump conducts gaming activities and strives to provide customers with outstanding casino resort and entertainment experiences consistent with the Donald J. Trump standard of excellence. THCR is separate and distinct from Mr. Trump's real estate and other holdings.