| Thursday November 15, 2007 - 15:01 EST
ATLANTIC CITY, New Jersey -- (PRESS RELEASE) -- Trump Entertainment Resorts, Inc. (NASDAQ: TRMP) (the "Company") today reported its results for the quarter ended September 30, 2007 and other related news. In making the announcement, Mark Juliano, Chief Executive Officer of the Company, said, "We are pleased that we were able to achieve stable financial results during the quarter compared to last year despite the challenges the Atlantic City gaming market is currently facing, which led to a 6.2% marketplace decline in gross gaming revenue during the quarter. We are working diligently to further improve our business in this changing marketplace, and we are pleased with the positive results from the Taj Mahal and Plaza resulting from efforts under our strategic operating plan. The Marina has been disproportionately impacted by the increased competition and, as a result, we are currently taking aggressive steps by dedicating additional resources to improve the Marina's performance." CONSOLIDATED RESULTS Net revenues have been impacted by increased competition from new gaming facilities in Pennsylvania and New York, an aggressive promotional environment in Atlantic City and the partial smoking ban in Atlantic City effective on April 15, 2007.
Ex-teachers union leader indicted
The former president of the Camden teachers union was indicted Thursday on charges that she diverted the labor group's funds to her own use, including thousands of dollars that went to gambling. Claraliene Gordon, 66, used a union credit card for nearly $15,000 in personal expenses between September 2000 and August 2006, when she led the Camden Education Association, officials alleged. Gordon tapped the union card at Atlantic City casinos about 25 times "to help finance her gambling habit," state Attorney General Anne Milgram said in a statement Thursday. Gordon, who retired last year and lives in Fayetteville, N.C., could not be reached. Gordon repaid about $7,500 in personal expenses "after being confronted by union officials on a number of occasions (but) she has failed to repay the rest," according to Milgram's statement.
Qwest Engenders Loyalty
Communications service providers in the U.S. market arguably have been slow to adopt sophisticated loyalty and rewards programs like their colleagues in the airline, credit card and retail industries have. But confusing collections of semi-redeemable points or miles isn�t the only way to engender loyalty. Qwest Communications International Inc. greatly has advanced its American Customer Satisfaction Index (ACSI) scores and has been recognized by J.D. Power and Associates for loyalty in its broadband services in the western United States. The keys to its success are simple, according to Kim Whitehead, vice president of consumer marketing for Qwest. The combination of flexible bundles and price certainty has helped put Qwest�s customers at ease. While this is a solid foundation for a long-term loyalty program, it is about as sophisticated as U.S.
Black forced to hock his Warhol
NEW YORK: Disgraced media baron Conrad Black had another 15 minutes of fame as he prepared to go to jail when a portrait of him by Andy Warhol was sold to pay off debt. The 100x100cm silk-screened image, one of four he commissioned from the pop artist in 1981, fetched $US240,000 ($267,000) at Christie's. The silver portrait once hung outside Black's office in Toronto, but he was forced to part with it to settle debts as he awaits trial in the US for fraud and obstruction of justice. He will be sentenced on November 30. Warhol approached the then 37-year-old Black through the wife of a former US ambassador to Canada after seeing his photo in a magazine article about prominent Canadians. Black, who was to build a global newspaper empire, hosted a dinner for Warhol, where the artist took his picture with a Polaroid.
BankThai board blasted in meeting
Retail investors bitterly attacked the board of BankThai Plc yesterday for allowing the bank's share value to fall sharply in recent years. Shareholders roundly blasted the bank's decision to halve the price and double the size of a new rights offering aimed at raising around 7.7 billion baht in new capital. The bank's board last month agreed to scrap a May proposal to float 2.24 billion new shares at 3.46 baht each in favour of a new offering of 4.44 billion shares at 1.73 baht. The par value of the shares is 3.75 baht each. Sathaporn Tangnirund, a long-time retail shareholder, criticised the Financial Institutions Development Fund, BankThai's largest shareholder, as only considering its own benefits. ''I feel like I have been robbed by the state,'' he said at the bank's extraordinary shareholders' meeting yesterday.
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