================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------
FORM 11-K
ANNUAL REPORT
----------
Pursuant to Section 15 (d)
of the Securities Exchange Act of 1934
for the year ended December 31, 1997
TRUMP TAJ MAHAL HOTEL & CASINO SAVINGS PLAN
(Full title of the Plan)
TRUMP HOTELS AND CASINO RESORTS, INC.
(Name of Issuer of the securities held pursuant to the Plan)
2500 Boardwalk
Atlantic City, New Jersey 08401
(Address of principal executive office)
================================================================================
<PAGE>
TRUMP TAJ MAHAL HOTEL & CASINO SAVINGS PLAN
(FORMERLY TRUMP TAJ MAHAL CASINO RESORT RETIREMENT SAVINGS PLAN)
FINANCIAL STATEMENTS AS OF DECEMBER 31, 1997 AND 1996
TOGETHER WITH
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
<PAGE>
TRUMP TAJ MAHAL HOTEL & CASINO SAVINGS PLAN
(formerly Trump Taj Mahal Casino Resort Retirement Savings Plan)
DECEMBER 31, 1997 AND 1996
INDEX
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
FINANCIAL STATEMENTS:
Statements of Net Assets Applicable to Participants' Equity as of December
31, 1997 And 1996
Statement of Changes in Net Assets Applicable to Participants' Equity for
the Year Ended December 31, 1997
Notes to Financial Statements
SUPPLEMENTAL SCHEDULES:
I -- Item 27a - Schedule of Assets Held for Investment Purposes as of December
31, 1997
II -- Item 27d - Schedule of Reportable Transactions for the Year Ended December
31, 1997
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Benefits Committee of the
Trump Taj Mahal Hotel & Casino Savings Plan:
We have audited the accompanying statements of net assets applicable to
participants' equity of the Trump Taj Mahal Hotel & Casino Savings Plan
(formerly Trump Taj Mahal Casino Resort Retirement Savings Plan) (the "Plan") as
of December 31, 1997 and 1996, and the related statement of changes in net
assets applicable to participants' equity for the year ended December 31, 1997.
These financial statements and the schedules referred to below are the
responsibility of the Plan's management. Our responsibility is to express an
opinion on these financial statements and schedules based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets applicable to participants' equity as of
December 31, 1997 and 1996, and the changes in net assets applicable to
participants' equity for the year ended December 31, 1997, in conformity with
generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets held
for investment purposes and reportable transactions are presented for the
purpose of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The fund information in the
statements of net assets applicable to participants' equity and the statement of
changes in net assets applicable to participants' equity is presented for
purposes of additional analysis rather than to present the net assets applicable
to participants' equity and the changes in net assets applicable to
participants' equity of each fund. The supplemental schedules and fund
information have been subjected to the auditing procedures applied in the audits
of the basic financial statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements taken as a
whole.
ARTHUR ANDERSEN LLP
Roseland, New Jersey
June 29, 1998
<PAGE>
TRUMP TAJ MAHAL HOTEL & CASINO SAVINGS PLAN
(formerly Trump Taj Mahal Casino Resort Retirement Savings Plan)
STATEMENTS OF NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
AS OF DECEMBER 31, 1997 AND 1996
<TABLE>
<CAPTION>
1997 1996
---------- -----------
<S> <C> <C>
ASSETS:
Investments at market value (Notes 1 and 3)-
Pacific Fund $3,808,773 $5,121,362
Federal Securities Fund 2,672,806 2,652,277
Capital Fund 8,025,505 7,007,725
Basic Value Fund 8,792,558 6,662,864
Growth Fund 4,114,370 2,333,103
Global Allocation Fund 608,647 466,636
Templeton Foreign Fund 404,324 0
MFS Emerging Growth Fund 714,049 0
Davis New York Venture Fund 1,773,646 0
Delaware Trend Fund 1,285,887 923,481
Trump Hotels And Casino Resorts, Inc. Common Stock 281,587 0
Retirement Preservation Trust Fund 691,889 333,989
Ready Assets Trust Fund 5,847,880 6,593,674
Participants' Loans Receivable 4,317,674 1,865,068
Accrued Interest Income 86 2,040
Receivables-
Contributions Receivable from Plan Sponsor 0 282,557
Contributions Receivable from Participants 233,719 246,902
----------- -----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY $43,573,400 $34,491,678
=========== ===========
</TABLE>
The accompanying notes to financial statements
are an integral part of these statements.
<PAGE>
Pacific
Fund
----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $5,121,362
----------
Contributions-
Participants 683,215
Plan Sponsor (net of forfeitures) 216,501
Participants Rollovers 7,841
----------
Total contributions 907,557
Dividend income 584,857
Interest income 38,605
Realized/unrealized appreciation (depreciation) of
investments (837,969)
Distributions to participants (251,344)
Loans issued to participants (561,748)
Loans principal repayments 169,203
Transfers from (to) related plans (57,276)
Interfund transfers (net) (1,304,474)
Administrative expenses 0
----------
Increase (decrease) in net assets (1,312,589)
----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $3,808,773
==========
<PAGE>
<TABLE>
<CAPTION>
TRUMP TAJ MAHAL HOTEL & CASINO SAVINGS PLAN
(formerly Trump Taj Mahal Casino Resort Retirement Savings Plan)
STATEMENT OF CHANGES IN NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1997
Trump
Hotels and
MFS Davis Casino
Federal Global Templeton Emerging New York Delaware Resorts,
Securities Capital Basic Growth Allocation Foreign Growth Venture Trend Inc. Common
Fund Fund Value Fund Fund Fund Fund Fund Fund Fund Stock Fund
- ---------- ---------- ---------- ---------- ---------- --------- ---------- ---------- ---------- -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$2,652,277 $7,007,725 $6,662,864 $2,333,103 $466,636 $0 $0 $0 $923,481 $0
- ---------- ---------- ---------- ---------- -------- -------- -------- ---------- ---------- --------
348,940 899,406 920,178 716,813 155,994 88,852 103,243 212,741 217,430 32,975
122,584 290,013 290,631 226,521 50,644 28,498 31,258 63,864 68,701 11,010
2,700 5,395 26,304 62,560 4,930 523 8,647 13,753 2,217 0
- ---------- ---------- ---------- ---------- -------- -------- -------- ---------- ---------- --------
474,224 1,194,814 1,237,113 1,005,894 211,568 117,873 143,148 290,358 288,348 43,985
167,582 667,511 662,461 316,840 78,766 40,077 6,320 73,632 128,651 0
19,014 55,949 50,441 27,750 3,329 3,749 4,843 10,899 9,725 2,487
43,322 718,975 1,221,628 194,955 (25,578) (36,360) 40,028 158,867 64,422 (71,831)
(194,868) (481,471) (561,083) (147,464) (35,333) (3,744) (3,682) (9,118) (52,625) (41,536)
(249,808) (800,306) (701,620) (366,138) (39,428) (20,508) (26,272) (85,327) (137,698) (11,872)
89,571 238,339 225,070 138,408 17,164 17,289 19,562 49,111 45,042 9,231
(57,903) (83,768) (55,318) (31,037) (4,786) 22 (14) (256) (9,204) 0
(270,605) (492,263) 51,002 642,859 (63,691) 285,926 530,116 1,285,480 25,745 351,123
0 0 0 0 0 0 0 0 0 0
- ---------- ---------- ---------- ---------- -------- -------- -------- ---------- ---------- --------
20,529 1,017,780 2,129,694 1,781,267 142,011 404,324 714,049 1,773,646 362,406 281,587
- ---------- ---------- ---------- ---------- -------- -------- -------- ---------- ---------- --------
$2,672,806 $8,025,505 $8,792,558 $4,114,370 $608,647 $404,324 $714,049 $1,773,646 $1,285,887 $281,587
========== ========== ========== ========== ======== ======== ======== ========== ========== ========
<CAPTION>
Ready
Retirement Assets Participants'
Preservation Trust Loans Cash and
Trust Fund Fund Receivable Other Total
------------ --------- ------------- --------- -----------
<C> <C> <C> <C> <C>
$333,989 $6,593,674 $1,865,068 $531,499 $34,491,678
-------- ---------- ---------- -------- -----------
192,670 925,684 0 (17,339) 5,480,802
70,502 253,222 0 (282,557) 1,441,392
2,700 27,279 0 0 164,849
-------- ---------- ---------- -------- -----------
265,872 1,206,185 0 (299,896) 7,087,043
32,045 308,554 0 0 3,067,296
2,477 58,914 0 0 288,182
0 0 0 2,202 1,472,661
(46,273) (440,044) (129,295) 0 (2,397,880)
(55,011) (883,738) 3,939,474 0 0
19,483 296,046 (1,333,519) 0 0
(960) (85,686) (24,054) 0 (410,240)
140,267 (1,180,685) 0 0 0
0 (25,340) 0 0 (25,340)
-------- ---------- ---------- -------- -----------
357,900 (745,794) 2,452,606 (297,694) 9,081,722
-------- ---------- ---------- -------- -----------
$691,889 $5,847,880 $4,317,674 $233,805 $43,573,400
======== ========== ========== ======== ===========
</TABLE>
The accompanying notes to financial statements are an integral part of this
statement.
<PAGE>
TRUMP TAJ MAHAL HOTEL & CASINO SAVINGS PLAN
(formerly Trump Taj Mahal Casino Resort Retirement Savings Plan)
NOTES TO FINANCIAL STATEMENTS
(1) SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES:
Basis of Accounting-
The accompanying financial statements of the Trump Taj Mahal Hotel &
Casino Savings Plan (formerly Trump Taj Mahal Casino Resort Retirement
Savings Plan) (the "Plan") have been prepared on the accrual basis of
accounting.
Plan Expenses-
Expenses related to the administration of the Plan have been paid by
Trump Taj Mahal Hotel & Casino (the "Plan Sponsor"). These costs
represent trustee fees and professional services and amounted to
approximately $47,000 in 1997.
Investments-
The investments included in the statements of net assets applicable to
participants' equity are stated at market value. Market value, which
is equivalent to current value, is the unit valuation of the security
at the plan year-end as determined by Merrill Lynch Trust Company, the
trustee of the Plan (the "Trustee"). Accounting records are maintained
on the accrual basis, investment transactions are recorded on the
trade date basis and gains and losses are calculated based upon an
aggregate participant cost that is maintained on an average unit cost
basis.
Use of Estimates-
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amount of net assets and disclosure
of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.
(2) PLAN DESCRIPTION:
The following description of the Plan provides only general information.
Participants should refer to the Plan document for a more complete
description of the Plan's provisions.
General-
The Plan is a 401(k) Savings Plan, which was established by the Plan
Sponsor and became effective on September 1, 1986. All full or
part-time nonunion employees, become eligible for participation in the
Plan on the enrollment date immediately following the completion of 6
months of service (effective January 1, 1998, 12 months of service)
and the attainment of age 18.
<PAGE>
-2-
The Plan is administered by a committee appointed by the Plan Sponsor
(the "Plan Administrator"). Merrill Lynch Trust Company was appointed
as the Trustee of the Plan by the Plan Administrator.
Contributions-
Participants-
Non-highly compensated participants, as defined, are eligible to
voluntarily contribute to the Plan up to 15% of their annual
compensation, as defined. Highly compensated employees, as defined,
are eligible to voluntarily contribute to the Plan up to 6% of their
annual compensation, as defined. Tax deferred contributions are
subject to a limit by the Internal Revenue Code. The 1997
limit was $9,500 per participant. Contributions to the Plan are
invested by the Trustee, as designated by the participant, in
increments of 5%.
Plan Sponsor-
The Plan Sponsor contributes to the Plan 50% of each participant's
contribution, not to exceed 2.5% of the participant's annual
compensation, as defined (effective January 1, 1998, 3%).
Participant Rollovers-
The Plan permits eligible participants, as defined, to rollover cash
or other property acceptable to the Plan Administrator from another
qualified plan in addition to qualified voluntary participant
contributions.
Distributions to Participants-
Each participant has a fully vested interest in the amount of his or
her contribution together with the allocable Plan earnings.
Contributions from the Plan Sponsor vest based on the vesting
schedule described below. The full value of the participant's vested
interest in his or her account in the Plan will be distributed upon
termination of the participant's employment. The normal form of
payment is by lump sum; however, if a participant's vested benefit
from all contributions exceeds $3,500, a participant has the right
to receive payment in equal periodic monthly, quarterly, semi-annual
or annual installments over a period not to exceed ten years.
A participant may also withdraw all or part of his or her account
upon attainment of age 59-1/2 or financial hardship, as defined in
the Plan.
Upon termination of employment prior to eligibility for retirement,
a participant is eligible to receive the vested balance in his or
her account. There were no payments due to participants who have
requested to withdraw their funds prior to December 31, 1997.
<PAGE>
-3-
Vesting-
Voluntary contributions are fully vested at all times and are not
subject to forfeiture.
The Plan Sponsor's contributions vest based upon the participant's
years of continuous service as follows-
Years of Continuous Service Percentage Vested
--------------------------- -----------------
Less than two years 0%
Two years 25
Three years 50
Four years 75
Five years or more 100
Forfeitures-
The portion of a former participant's account which is not distributed
because of the vesting provision will reduce the amount of the Plan
Sponsor's future contributions. During 1997, $81,031 was used to
reduce Plan Sponsor contributions. As of December 31, 1997 and 1996,
$69 and $20,455 were available to reduce future Plan Sponsor
contributions, respectively.
Loans-
The Plan permits participants to borrow from their accounts at terms
established by the Plan Administrator. Participants may borrow up to
the lesser of $50,000 or 50% of their vested account balance for
specific reasons, as defined by the Plan. Each loan is secured by the
borrower's vested interest in the Plan and is subject to other
requirements, as defined. Interest on loans is charged at a rate that
is comparable to similar loans made by commercial lenders. Loans
outstanding as of December 31, 1997 had interest rates ranging from
8.0% to 12.0%. Loan repayment terms range up to five years (fifteen
years if the loan was used to purchase a primary residence). A small
administrative fee is required to process all loans.
(3) INVESTMENTS:
Participants can invest their funds in thirteen available investment
vehicles as described below-
Mutual Funds-
Pacific Fund - An overseas fund investing in equities of corporations
based in the Far East and Western Pacific. This fund provides a
long-term objective of capital appreciation.
Federal Securities Fund - A securities fund investing in United States
Government agencies seeking a high current return.
Capital Fund - Mutual Fund investing in equity securities of undervalued
companies with the objective of seeking the highest total investment
return consistent with prudent risk.
Basic Value Fund - Mutual Fund investing in equity and debt securities
of financially strong companies. This fund's objective is to seek
capital appreciation.
<PAGE>
-4-
Growth Fund - Mutual fund investing in equity securities with the
objective of capital appreciation.
Global Allocation Fund - Mutual fund investing in United States and
foreign equity, debt and money market securities with the objective of
capital appreciation.
Templeton Foreign Fund - Mutual fund investing in virtually any type of
security in any country outside of the United States in developed or
emerging markets. The fund's objective is long-term capital growth.
MFS Emerging Growth Fund - Mutual fund investing in small and medium
sized companies with growth rates expected to be well above the growth
rate of the overall economy and rate of inflation.
Davis New York Venture Fund - Mutual fund investing primarily in equity
securities of United Sates and foreign companies with the objective of
capital appreciation.
Delaware Trend Fund - Mutual fund investing in securities of financially
strong companies with the objective of achieving a moderate return with
limited risk.
Common Stock-
Trump Hotel & Casino Resorts, Inc. ("THCR") Common Stock - This is
the common stock of the holding company that owns Trump Plaza Hotel &
Casino, Trump Taj Mahal Hotel & Casino, Trump Marina Hotel & Casino and
Trump Indiana Inc.
Retirement Presentation Trust Fund -
Fund investing in money market funds that seek the highest current
income consistent with liquidity and stability of principal, but
investing in short-term money market instruments.
Ready Assets Trust Fund - Fund investing in money market funds.
(4) TAX STATUS:
The Plan obtained its latest determination letter on August 18, 1994, which
covered all amendments through January 1, 1993, in which the Internal
Revenue Service stated that the Plan, as then designed, was in compliance
with the applicable requirements of the Internal Revenue Code. The Plan has
been amended since receiving the determination letter. However, the Plan
Administrator believe that the Plan is currently designed and being operated
in compliance with the applicable requirements of the Internal Revenue Code.
Therefore, they believe that the Plan was qualified and the related trust
was tax exempt as of the financial statement date.
(5) PLAN TERMINATION:
While the Plan Sponsor has not expressed any intent to terminate the Plan,
the Plan Sponsor may do so at any time subject to the provisions of the
Employee Retirement Income Security Act of 1974. In the event of
termination, each participant is entitled to the value of his or her
separate account.
<PAGE>
-5-
(6) RELATED PARTY
TRANSACTIONS:
Certain Plan investments are shares of mutual funds managed by Merrill
Lynch Trust Company. Merrill Lynch Trust Company is the Trustee as defined
by the Plan and, therefore, these transactions qualify as party-in-interest.
Certain Plan investments include shares of THCR common stock and, therefore,
these transactions qualify as party-in-interest.
The Plan Sponsor has sister companies that also sponsor similar Savings
Plans. Transactions between the Plan and plans sponsored by the sister
companies are as follows-
Transfers out of the Trump Taj Castle Hotel & Casino
Savings, net ($207,611)
Transfers out of the Trump Taj Mahal Hotel & Casino Savings, net (410,240)
Transfers out of Trump Plaza Hotel & Casino Savings Plan, net (4,142,742)
Transfers to the Trump Casino Services Savings Plan 4,760,593
---------
Net Related Plan Transfers $0
=========
<PAGE>
SCHEDULE I
TRUMP TAJ MAHAL HOTEL & CASINO SAVINGS PLAN
(formerly Trump Taj Mahal Casino Resort By The Bay Retirement Savings Plan)
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1997
EMPLOYER IDENTIFICATION #22-3136368, PLAN NUMBER 001
<TABLE>
<CAPTION>
(b) Identity of
issuer, (c) Description of investment
(a) borrower, lessor including maturity date, rate of
or interest, collateral, par or (e) Market
similar party maturity value (d) Cost Value
- --- ------------------ ---------------------------------- ----------- -----------
<S> <C> <C> <C> <C>
* Merrill Lynch Pacific Fund, Overseas Equity
Securities, 224,441 units of
participation $4,622,358 $3,808,773
* Merrill Lynch Federal Securities Fund, U. S.
Government Agencies, 274,134
units of participation 2,633,988 2,672,806
* Merrill Lynch Capital Fund, Equity Securities,
232,556 units of participation 6,943,708 8,025,505
* Merrill Lynch Basic Value Fund, Equity and Debt
Securities, 237,124 units of
participation 6,664,357 8,792,558
* Merrill Lynch Growth Fund, Equity Securities,
143,608 units of participation 3,866,342 4,114,370
* Merrill Lynch Global Allocation Fund, U. S. and
Foreign Equity and Debt
Securities, 43,044 units of
participation 637,414 608,647
Templeton Funds Templeton Foreign Fund, Foreign
Equity and Debt Securities,
40,636 units of participation 440,821 404,324
MFS Fund MFS Emerging Growth Fund, Equity
Securities, 19,736 units of
participation 682,295 714,049
Davis Funds, Davis New York Venture Fund,
Inc. Foreign Equity Securities,
79,429 units of participation 1,644,254 1,773,646
Delaware Group Delaware Trend Fund, Equity
Securities, 74,848 units of
participation 1,217,000 1,285,887
---------- ----------
Total investment in Mutual Funds 29,352,537 32,200,565
---------- ----------
<PAGE>
-2-
SCHEDULE I
(continued)
<CAPTION>
(b) Identity of
issuer, (c) Description of investment
(a) borrower, lessor including maturity date, rate of
or interest, collateral, par or (e) Market
similar party maturity value (d) Cost Value
- --- ------------------ ---------------------------------- ----------- -----------
<S> <C> <C> <C> <C>
** Trump Hotels & Trump Hotels & Casino Resorts,
Casino Resorts, Inc., Common Stock, Equity
Inc. Security, 42,103 units of
participation $390,892 $281,587
----------- -----------
* Merrill Lynch Retirement Preservation Trust
Fund, Money Market Funds,
691,889 units of participation 691,889 691,889
* Merrill Lynch Ready Assets Trust Fund, Money
Market Funds, 5,847,880 units
of participation 5,847,880 5,847,880
----------- -----------
Total investment in Money Market Funds 6,539,769 6,539,769
----------- -----------
Participants' Interest rates ranging from 8.0%
loans to 12.0% and maturities
ranging from 1998 through
2112 4,317,674 4,317,674
----------- -----------
$40,600,872 $43,339,595
=========== ===========
* Denotes party-in-interest
** Denotes related party
The accompanying notes to financial statements
are an integral part of this schedule.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE II
TRUMP TAJ MAHAL HOTEL & CASINO SAVINGS PLAN
(formerly Trump Taj Mahal Casino Resort Retirement Savings Plan)
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1997 (A)
EMPLOYER IDENTIFICATION #22-3136368, PLAN NUMBER 001
(a) Identity of Party (c) Purchase
Involved (b) Description of Asset Price (d) Selling Price (g) Cost of Asset
- ---------------------------- --------------------------------------- ----------------- ----------------- -------------------
<S> <C> <C> <C> <C>
Merrill Lynch Pacific Fund-
499 Purchases $2,515,911 N/A $2,515,911
677 Sales N/A $2,902,454 2,819,058
Davis Funds Davis New York Venture Fund-
341 Purchases 2,040,614 N/A 2,040,614
216 Sales N/A 425,556 396,081
Merrill Lynch Capital Fund-
535 Purchases 2,408,854 N/A 2,408,854
704 Sales N/A 1,914,177 1,686,006
Merrill Lynch Basic Value Fund-
581 Purchases 3,163,507 N/A 3,163,507
666 Sales N/A 2,104,514 1,668,857
Merrill Lynch Growth Fund-
560 Purchases 2,978,837 N/A 2,978,837
567 Sales N/A 1,319,363 1,179,402
Merrill Lynch Ready Assets Trust Fund-
788 Purchases 3,769,132 N/A 3,769,132
651 Sales N/A 4,429,241 4,429,241
Merrill Lynch Loan Fund-
232 Purchases 3,939,474 N/A 3,939,474
125 Sales N/A 1,462,814 1,462,814
<CAPTION>
(h) Current Value of
(a) Identity of Party Asset (i) Net Gain
Involved (b) Description of Asset on Transaction Date (Loss)
- ---------------------------- --------------------------------------- -------------------------- ---------------
<S> <C> <C> <C>
Merrill Lynch Pacific Fund-
499 Purchases $2,515,911 N/A
677 Sales 2,902,454 $83,396
Davis Funds Davis New York Venture Fund-
341 Purchases 2,040,614 N/A
216 Sales 425,556 29,475
Merrill Lynch Capital Fund-
535 Purchases 2,408,854 N/A
704 Sales 1,914,177 228,771
Merrill Lynch Basic Value Fund-
581 Purchases 3,163,507 N/A
666 Sales 2,104,514 435,657
Merrill Lynch Growth Fund-
560 Purchases 2,978,837 N/A
567 Sales 1,319,363 139,961
Merrill Lynch Ready Assets Trust Fund-
788 Purchases 3,769,132 N/A
651 Sales 4,429,241 0
Merrill Lynch Loan Fund-
232 Purchases 3,939,474 N/A
125 Sales 1,462,814 0
(A) Reportable transactions are those purchases and sales of the same security which, individually or in the
aggregate, exceed 5% of Plan assets at January 1, 1997.
The accompanying notes to financial statements are an integral part of this schedule.
</TABLE>
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation of our
report included in this Form 11-K into the Trump Hotel & Casino Resorts, Inc.
previously filed Form S-8 Registration Statement No.333-2201.
ARTHUR ANDERSEN LLP
Roseland, New Jersey
June 29, 1998
