Trump Hotels & Casino Resorts, Inc. Announces End of Negotiations for Southern Indiana Casino

In July 2004, the Commission awarded THCR the right to construct a riverboat-style gaming facility in Orange County. The changing landscape in Indiana, including, in part, a recent decision by the Indiana Tax Court adversely affecting the Indiana casino industry and the potential development of additional gaming facilities in the state, have caused the Company to reassess its willingness to pursue the construction project.

Scott C. Butera, the Company's President and Chief Operating Officer, commented, "The financial prospects for a casino in French Lick have changed since the time we were awarded the project. The tax burdens have become more onerous, and the proposition for additional gaming facilities in Indiana appears eminent." Mr. Butera continued, "After having constructive meetings with the Indiana Gaming Commission, we decided that it was in the best interest of the Company and the state of Indiana to cease exclusive discussions at this time. We look forward to continuing our successful business relationship with the state of Indiana through our operation of Trump Indiana in Gary."

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