================================================================================
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 PLAZA 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 PLAZA HOTEL & CASINO SAVINGS PLAN
(FORMERLY TRUMP PLAZA HOTEL & CASINO RETIREMENT PLAN)
FINANCIAL STATEMENTS AS OF DECEMBER 31, 1997 AND 1996
TOGETHER WITH
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
<PAGE>
TRUMP PLAZA HOTEL & CASINO SAVINGS PLAN
(formerly Trump Plaza Hotel & Casino Retirement Plan)
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 Plaza Hotel & Casino Savings Plan
We have audited the accompanying statements of net assets applicable to
participants' equity of the Trump Plaza Hotel & Casino Savings Plan (formerly
Trump Plaza Hotel & Casino 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
statement of net assets applicable to participants' equity and 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 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 PLAZA HOTEL & CASINO SAVINGS PLAN
(formerly Trump Plaza Hotel & Casino Retirement Plan)
STATEMENTS OF NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
AS OF DECEMBER 31, 1997 AND 1996
<TABLE>
<CAPTION>
1997 1996
-------------- -------------
<S> <C> <C>
ASSETS:
Cash $424,008 $0
Investments at market value (Notes 1 and 3)-
Pacific Fund 0 3,835,036
Federal Securities Fund 0 2,380,814
Capital Fund 0 6,998,085
Basic Value Fund 0 6,741,086
Growth Fund 0 4,619,135
Global Allocation Fund 0 763,146
Templeton Foreign Fund 0 129,895
Davis New York Venture Fund 0 324,399
Delaware Trend Fund 0 927,877
Technology Fund 0 725,675
AIM Equity Constellation Fund 0 487,756
AIM Value Fund 0 154,227
Retirement Preservation Trust Fund 0 1,505,778
Ready Assets Trust Fund 0 5,499,136
The Chicago Trust Company Stated Principal Value Investment
Trust Fund 6,153,761 0
SoGen International Fund 1,297,790 0
Massachusetts Investors Trust Fund 7,633,706 0
Oppenheimer Quest Value Fund 2,142,542 0
Oppenheimer Quest Opportunity Value Fund 3,686,841 0
Montag & Caldwell Growth Fund 7,487,670 0
AIM Constellation Fund 2,483,064 0
Templeton Foreign Fund 3,185,681 0
Oppenheimer Quest Capital Value Fund 4,980,016 0
Trump Hotels & Casino Resorts, Inc. Common Stock 762,957 0
Participant's Loans Receivable 4,959,794 4,782,329
Accrued Interest Income 0 4,481
Receivables-
Contributions Receivable from Plan Sponsor 0 293,125
Contributions Receivable from Participants 199,202 328,612
-------------- -------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY $45,397,032 $40,500,592
============== =============
</TABLE>
The accompanying notes to financial statements are an integral part of
these statements.
<PAGE>
TRUMP PLAZA HOTEL & CASINO SAVINGS PLAN
(formerly Trump Plaza Hotel & Casino Retirement Plan)
STATEMENT OF CHANGES IN NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1997
<TABLE>
<CAPTION>
Merrill Lynch Trust Company
----------------------------------------------------------------------------------
Federal Global Templeton
Pacific Securities Capital Basic Growth Allocation Foreign
Fund Fund Fund Value Fund Fund Fund Fund
---------- ---------- ---------- ---------- ---------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $3,835,036 $2,380,814 $6,998,085 $6,741,086 $4,619,135 $763,146 $129,895
---------- ---------- ---------- ---------- ---------- -------- ---------
CONTRIBUTIONS:
Participants 103,652 61,583 143,588 132,022 146,220 25,701 7,743
Plan sponsor 34,556 22,982 49,011 41,867 43,012 7,961 2,130
participants rollovers 0 0 20,665 19,154 11,668 2,175 0
---------- ----------- --------- ---------- ---------- --------- ----------
Total contributions 138,208 84,565 213,264 193,043 200,900 35,837 9,873
DIVIDEND INCOME 0 35,650 0 0 0 0 0
REALIZED/UNREALIZED APPRECIATION
(DEPRECIATION) OF INVESTMENTS 10,521 (42,119) 114,113 225,922 13,806 14,077 5,078
DISTRIBUTIONS TO PARTICIPANTS (117,614) (126,050) (331,714) (276,006) (123,319) (37,504) (168)
LOANS ISSUED TO PARTICIPANTS (107,015) (92,057) (162,088) (148,557) (191,488) (18,270) (343)
LOAN PRINCIPAL AND INTEREST REPAYMENTS 85,611 39,960 131,631 84,408 84,451 8,869 1,786
ADMINISTRATIVE EXPENSES 0 0 0 0 0 0 0
INTERFUND TRANSFERS (NET) (667,830) (196,023) (733,027) 57,865 126,244 (88,804) 348,953
TRANSFERS (TO)/FROM OTHER RELATED PLANS (3,176,917) (2,084,740) (6,230,264) (6,877,761) (4,729,729) (677,351) (495,074)
----------- ------------ ----------- ----------- ----------- ---------- -----------
Increase (decrease) in net assets ($3,835,036) (2,380,814) (6,998,085) (6,741,086) (4,619,135) (763,146) (129,895)
------------ ------------ ----------- ----------- ----------- ---------- -----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
end of year $0 $0 $0 $0 $0 $0 $0
========== =========== ========= ========== ========== ========= ==========
<CAPTION>
Merrill Lynch Trust Company
--------------------------------------------------------------------------
New York AIM Equity Retirement
Venture Delaware Technology Constellation AIM Value Preservation
Fund Trend Fund Fund Fund Fund Trust Fund
--------- --------- ----------- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $324,399 $927,877 $725,675 $487,756 $154,227 $1,505,778
--------- --------- ----------- ----------- ---------- ----------
CONTRIBUTIONS:
Participants 20,023 37,003 12,991 20,740 7,624 48,440
Plan sponsor 3,667 11,189 5,020 5,120 2,486 14,737
participants rollovers 0 0 0 0 0 2,174
---------- ---------- ----------- ----------- ---------- ----------
Total contributions 23,690 48,192 18,011 25,860 10,110 65,351
DIVIDEND INCOME 0 0 0 0 0 30,090
REALIZED/UNREALIZED APPRECIATION
(DEPRECIATION) OF INVESTMENTS (24,281) (31,843) 52,805 (36,875) (11,136) 0
DISTRIBUTIONS TO PARTICIPANTS (3,348) (4,050) (171) (789) (167) (18,515)
LOANS ISSUED TO PARTICIPANTS (8,076) (21,162) (25,511) (19,664) (1,271) (53,561)
LOAN PRINCIPAL AND INTEREST REPAYMENTS 8,943 15,006 21,714 14,369 1,665 28,326
ADMINISTRATIVE EXPENSES 0 0 0 0 0 0
INTERFUND TRANSFERS (NET) 508,351 (313,801) (627,536) 59,395 112,868 1,043,667
TRANSFERS (TO)/FROM OTHER RELATED PLANS (829,678) (620,219) (164,987) (530,052) (266,296) (2,601,136)
----------- ----------- ------------ ------------ ----------- -----------
Increase (decrease) in net assets (324,399) (927,877) (725,675) (487,756) (154,227) (1,505,778)
----------- ----------- ------------ ------------ ----------- -----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
end of year $0 $0 $0 $0 $0 $0
========== ========== =========== =========== ========== ==========
</TABLE>
The accompanying notes to financial statements are an integral part of this
statement.
<PAGE>
TRUMP PLAZA HOTEL & CASINO SAVINGS PLAN
(formerly Trump Plaza Hotel & Casino Retirement Plan)
STATEMENT OF CHANGES IN NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
FOR THE YEAR ENDED DECEMBER 31, 1997
<TABLE>
<CAPTION>
The Chicago Trust Company
--------------------------------------
The
Chicago
Trust
Merrill Lynch Company
Trust Company Stated
------------------------ Principal
Ready Participants' Value SoGen Massachusetts
Assets Loans Investment International Investors
Trust Fund Receivable Trust Fund Fund Trust Fund
---------- ----------- ----------- ----------- ------------
<S> <C> <C> <C> <C> <C>
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $5,499,136 $4,782,329 $0 $0 $0
---------- ----------- ----------- ----------- ------------
CONTRIBUTIONS:
Participants 155,511 0 569,920 132,795 462,296
Plan sponsor 39,965 0 180,733 31,740 116,912
participants rollovers 0 0 13,471 4,418 2,637
---------- ----------- ----------- ----------- ------------
Total contributions 195,476 0 764,124 168,953 581,845
DIVIDEND INCOME 69,093 0 0 129,766 564,880
REALIZED/UNREALIZED APPRECIATION
(DEPRECIATION) OF INVESTMENTS 0 0 327,251 (93,639) 1,120,084
DISTRIBUTIONS TO PARTICIPANTS (311,575) (111,919) (446,540) (39,500) (256,605)
LOANS ISSUED TO PARTICIPANTS (178,030) 1,027,093 (343,929) (64,900) (305,634)
LOAN PRINCIPAL AND INTEREST REPAYMENTS 123,524 (565,975) 451,426 56,887 304,216
ADMINISTRATIVE EXPENSES 0 0 (13,649) (666) (2,968)
INTERFUND TRANSFERS (NET) 369,678 0 (4,310,233) 654,035 (437,832)
TRANSFERS (TO)/FROM OTHER RELATED PLANS (5,767,302) (5,131,528) 9,725,311 486,854 6,065,720
----------- ------------ ----------- ----------- ------------
Increase (decrease) in net assets (5,499,136) (4,782,329) 6,153,761 1,297,790 7,633,706
----------- ------------ ----------- ----------- ------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
end of year $0 $0 $6,153,761 $1,297,790 $7,633,706
========== =========== =========== =========== ============
<CAPTION>
The Chicago Trust Company
-----------------------------------------------------------------------------
Oppenheimer
Oppenheimer Quest Montag & AIM Templeton Oppenheimer
Quest Value Opportunity Caldwell Constellation Foreign Quest Capital
Fund Value Fund Growth Fund Fund Fund Value Fund
------------ ------------ ----------- ----------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C>
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $0 $0 $0 $0 $0 $0
------------ ------------ ----------- ----------- ---------- -----------
CONTRIBUTIONS:
Participants 207,285 412,295 656,221 245,824 332,624 374,041
Plan sponsor 50,678 100,680 158,908 59,882 83,088 99,209
participants rollovers 9,552 3,884 3,597 5,672 4,634 0
------------ ------------ ----------- ----------- ---------- -----------
Total contributions 267,515 516,859 818,726 311,378 420,346 473,250
DIVIDEND INCOME 96,797 120,131 67,325 179,909 344,629 1,589,526
REALIZED/UNREALIZED APPRECIATION
(DEPRECIATION) OF INVESTMENTS 224,653 320,350 1,489,026 203,936 (189,688) (644,370)
DISTRIBUTIONS TO PARTICIPANTS (30,092) (39,883) (243,976) (52,448) (76,221) (287,129)
LOANS ISSUED TO PARTICIPANTS (71,862) (206,169) (476,469) (140,905) (174,058) (236,818)
LOAN PRINCIPAL AND INTEREST REPAYMENTS 97,735 205,686 411,891 136,147 184,891 244,673
ADMINISTRATIVE EXPENSES (786) (1,874) (4,114) (1,439) (1,944) (2,536)
INTERFUND TRANSFERS (NET) 1,303,012 2,071,326 1,265,918 636,239 (634,661) (1,573,432)
TRANSFERS (TO)/FROM OTHER RELATED PLANS 255,570 700,415 4,159,243 1,210,247 3,312,387 5,416,852
------------ ------------ ----------- ----------- ---------- -----------
Increase (decrease) in net assets 2,142,542 3,686,841 7,487,670 2,483,064 3,185,681 4,980,016
------------ ------------ ----------- ----------- ---------- -----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
end of year $2,142,542 $3,686,841 $7,487,670 $2,483,064 $3,185,681 $4,980,016
============ ============ =========== =========== ========== ===========
<CAPTION>
The Chicago Trust Company
---------------------------------------------------------------
Trump
Hotels
And Casino
Resorts,
Inc. Participants'
Common Loans
Stock Cash Receivable Other Total
---------- ----------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C>
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $0 $0 $0 $626,218 $40,500,592
---------- ----------- ---------- ----------- -----------
CONTRIBUTIONS:
Participants 112,536 74,111 0 (129,346) 4,373,443
Plan sponsor 27,299 304,445 0 (293,409) 1,203,868
participants rollovers 0 0 0 0 103,701
---------- ----------- ---------- ----------- -----------
Total contributions 139,835 378,556 0 (422,755) 5,681,012
DIVIDEND INCOME 0 0 0 0 3,227,796
REALIZED/UNREALIZED APPRECIATION
(DEPRECIATION) OF INVESTMENTS (387,043) 0 0 (3,975) 2,656,653
DISTRIBUTIONS TO PARTICIPANTS (7,948) 0 (93,057) (286) (3,036,594)
LOANS ISSUED TO PARTICIPANTS (87,391) 0 2,108,135 0 0
LOAN PRINCIPAL AND INTEREST REPAYMENTS 80,309 70,423 (1,762,770) 0 565,902
ADMINISTRATIVE EXPENSES (680) (24,931) 0 0 (55,587)
INTERFUND TRANSFERS (NET) 1,025,668 (40) 0 0 0
TRANSFERS (TO)/FROM OTHER RELATED PLANS 207 0 4,674,130 0 (4,142,742)
---------- ----------- ---------- ----------- ------------
Increase (decrease) in net assets 762,957 424,008 4,959,794 (427,016) 4,896,440
---------- ----------- ---------- ----------- -----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
end of year $762,957 $424,008 $4,959,794 $199,202 $45,397,032
========== =========== ========== =========== ===========
The accompanying notes to financial statements are an integral part of this
statement.
</TABLE>
<PAGE>
TRUMP PLAZA HOTEL & CASINO SAVINGS PLAN
(formerly Trump Plaza Hotel & Casino Retirement Plan)
NOTES TO FINANCIAL STATEMENTS
(1) SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES:
Basis of Accounting-
The accompanying financial statements of the Trump Plaza Hotel &
Casino Savings Plan (formerly Trump Plaza Hotel & Casino Retirement
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 Plaza Hotel & Casino (the "Plan Sponsor"). These costs represent
trustee fees and professional services and amounted to approximately
$49,000 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 The Chicago Trust Company, the
trustee of the Plan (the "Trustee") as of December 31, 1997 and
Merrill Lynch Trust Company as December 31, 1996 (Plan Trustee through
March 31, 1997). 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.
<PAGE>
-2-
General-
The Plan is a 401(k) Retirement Savings Plan, which was established by
the Plan Sponsor and became effective on November 1, 1986. All full or
part-time non-union 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.
The Plan is administered by a committee appointed by the Plan Sponsor
(the "Plan Administrator"). Merrill Lynch Trust Company (the "Former
Trustee") was appointed as the trustee of the Plan by the Plan
Administrator through March 31, 1997. The Chicago Trust Company (the
"Trustee") was appointed as the trustee of the Plan by the Plan
Administrator effective April 1, 1997.
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
9% of their annual compensation, as defined. Tax deferred
contributions are subject to a limit by the Internal Revenue
Code. The 1997 and 1996 limits were $9,500 per participant,
respectively. 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 contributions, 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.
<PAGE>
-3-
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.
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, $9,226 was used to reduce
Plan Sponsor contributions. As of December 31, 1997 and 1996, $34,880
and $9,460 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 12.00%. Loan repayment terms range up to five years (fifteen
years if the loan was used to purchase a primary residence). All small
administrative fee is required to process all loans.
(3) INVESTMENTS:
Through March 31, 1997, participants could invest their funds in
fourteen 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.
<PAGE>
-4-
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.
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.
Davis New York Venture Fund - Mutual fund investing
primarily in equity securities of United States 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.
Technology Fund - Mutual fund investing in equity securities
with the objective of capital appreciation.
AIM Equity Constellation Fund - Mutual fund investing in
common stocks, with an emphasis on medium sized and smaller
emerging growth companies. This fund's objective is to seek
capital appreciation.
AIM Value Fund - Mutual fund investing primarily in equity
securities of undervalued companies with the objective of
capital apprecition.
Money Market Funds-
Retirement Preservation 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.
As of April 1, 1997 participants can invest their funds in ten
available investment vehicles as described below-
Money Market Funds-
The Chicago Trust Company Stated Principal Value Investment
Fund - A money market equivalent account. This fund
invests in short-term high quality financial instruments
issued by insurance companies and banks.
<PAGE>
-5-
Mutual Funds-
SoGen International Fund - A multi-asset global mutual fund.
The investment objective and style of this fund is to
provide long-term growth of capital by investing primarily
in common stocks of U. S. and foreign companies.
Massachusetts Investors Trust Fund - A growth and income
mutual fund. The investment objective of this fund is to
provide reasonable current income and long-term growth of
capital and income.
Oppenheimer Quest Value Fund - An equity mutual fund. The
investment objective of this fund is to provide reasonable
current income and long-term growth of capital and income.
Oppenheimer Quest Opportunity Value Fund - An asset
allocation mutual fund. The investment objective and style
of this fund is to seek long-term capital appreciation by
investing in stocks, bonds and cash equivalents.
Montag & Caldwell Growth Fund - An equity growth mutual
fund. The investment objective of this fund is to seek
long-term capital appreciation consistent primarily with
investments in a combination of equity, convertible,
fixed-income and short-term securities.
AIM Constellation Fund - an aggressive equity mutual fund.
The investment objective of this fund is to seek capital
appreciation through investments in common stocks, with
emphasis on medium-sized and smaller emerging growth
companies.
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.
Oppenheimer Quest Capital Value Fund - An equity mutual
fund. The investment objective of this fund is to seek
capital appreciation by investing primarily in equity
securities believed to be undervalued in relation to factors
such as the companies' assets, earnings, or growth potential
or cash flows.
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.
(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.
<PAGE>
-6-
(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.
(6) RELATED PARTY
TRANSACTIONS:
Certain Plan investments include shares of money market funds
managed by The Chicago Trust Company. The Chicago 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 the THCR Common Stock
and, therefore, thesse 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-
<TABLE>
<S> <C>
Transfers out of the Trump Castle Hotel & Casino Savings Plan, net ($207,611)
Transfers out of the Trump Taj Mahal Hotel & Casino Savings Plan, 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
============
</TABLE>
<PAGE>
SCHEDULE I
TRUMP PLAZA HOTEL & CASINO SAVINGS PLAN
(formerly Trump Plaza Hotel & Casino Retirement Plan)
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1997
EMPLOYER IDENTIFICATION #22-2449800, PLAN NUMBER 001
<TABLE>
<CAPTION>
(b) Identity of (c) Description of investment
issue, borrower, including maturity date,
lessor or similar rate of interest, collateral, (e) Market
(a) party par or maturity value (d) Cost Value
- --- ---------------------- -------------------------------------- -------------- -------------
<C> <S> <C> <C> <C>
* The Chicago Trust Stated Principal Value Trust Fund,
Company Money Market Fund 3,727,797 units
of participation $6,031,014 $6,153,761
-------------- -------------
SoGen Funds SoGen International Fund, Equity
Securities, 51,034 units of 1,410,875 1,297,790
participation
MFS Funds Massachusetts Investors Trust Fund,
Equity Securities, 432,951 units
of participation 6,879,887 7,633,706
Oppenheimer Quest Value Fund, Equity Securities,
105,078 units of participation 1,942,927 2,142,542
Oppenheimer Quest Opportunity Value Fund, Equity
and Debt Securities, 104,096 units
of participation 3,444,207 3,686,841
Montag Montag & Caldwell Growth Fund,
Equity Securities, 322,050 units 6,389,997 7,487,670
of participation
AIM Fund Inc. AIM Constellation Fund, Equity
Securities, 99,126 unit of 2,399,552 2,483,064
participation
Templeton Fund, Inc. Templeton Foreign Fund, Equity
Securities, 320,167 units of 3,495,292 3,185,681
participation
Oppenheimer Quest Capital Value Fund, Equity and
Debt Securities 170,431 units of
participation 5,797,170 4,980,016
-------------- -------------
Total investment in Mutual Funds 31,759,907 32,897,310
-------------- -------------
** Trump Hotels & Casino Trump Hotels and Casino Resorts Inc.
Resorts, Inc. Common Stock Fund, Equity Security
117,876 units of participation 1,158,214 762,957
-------------- -------------
Participants' Loans Interest rates ranging from 8.0% to
12.0% and maturities ranging from
1998 through 2012 4,959,794 4,959,794
-------------- -------------
$43,908,929 $44,773,822
============== =============
</TABLE>
* Denotes party-in-interest
** Denotes related party
The accompanying notes to financial statements are an integral part of this
schedule.
<PAGE>
SCHEDULE II
TRUMP PLAZA HOTEL & CASINO SAVINGS PLAN
(formerly Trump Plaza Hotel & Casino Retirement Plan)
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1997 (A)
EMPLOYER IDENTIFICATION #22-244980, PLAN NUMBER 001
<TABLE>
<CAPTION>
(c) Purchase
(a) Identity of Party Involved (b) Description of Asset Price
- ---------------------------------------- -------------------------------------------------------------- -----------------
<S> <C> <C>
The Chicago Trust Company Stated Principal Value Trust Fund-
234 Purchases $27,636,264
307 Sales N/A
SoGen Funds SoGen International Fund-
158 Purchases 1,907,616
162 Sales N/A
MFS Funds Massachusetts Investors Trust Fund-
229 Purchases 11,296,214
275 Sales N/A
Oppenheimer Quest Value Fund-
146 Purchases 2,238,985
145 Sales N/A
Oppenheimer Quest Opportunity Value Fund-
147 Purchases 5,146,481
227 Sales N/A
Montag Montag & Caldwell Growth Fund
208 Purchases 9,596,320
297 Sales N/A
AIM Funds, Inc. AIM Constellation Fund-
172 Purchases 4,369,424
213 Sales N/A
Templeton Funds, Inc. Templeton Foreign Fund-
165 Purchases 5,933,464
253 Sales N/A
Oppenheimer Quest Capital Value Fund-
161 Purchases 14,486,553
247 Sales N/A
<CAPTION>
(h) Current Value of Asset (i) Net Gain
(a) Identity of Party Involved (d) Selling Price (g) Cost of Asset on Transaction Date (Loss)
- -------------------------------------- ------------------- --------------------- ------------------------------ ---------------
<S> <C> <C> <C> <C>
The Chicago Trust Company
N/A $27,636,264 $27,636,264 N/A
21,812,988 21,605,250 21,812,988 207,738
SoGen Funds
N/A 1,907,616 1,907,616 N/A
516,146 496,740 516,146 19,406
MFS Funds
N/A 11,296,214 11,296,214 N/A
4,834,091 4,415,328 4,834,091 418,763
Oppenheimer
N/A 2,238,985 2,238,985 N/A
8,862,187 8,689,382 8,862,187 172,805
Oppenheimer
N/A 5,146,481 5,146,481 N/A
1,779,975 1,702,274 1,779,875 77,701
Montag
N/A 9,596,320 9,569,320 N/A
3,597,614 3,206,296 3,597,674 391,378
AIM Funds, Inc.
N/A 4,369,424 4,369,424 N/A
2,090,305 1,969,873 2,090,305 120,432
Templeton Funds, Inc.
N/A 5,933,464 5,933,464 N/A
2,558,114 2,437,937 2,558,114 120,177
Oppenheimer
N/A 14,486,553 14,486,553 N/A
8,862,187 8,687,382 8,862,187 174,805
</TABLE>
<PAGE>
-2-
SCHEDULE II
(Continued)
<TABLE>
<CAPTION>
(c) Purchase
(a) Identity of Party Involved (b) Description of Asset Price
- ---------------------------------------- -------------------------------------------------------------- -----------------
<S> <C> <C>
Trump Hotels & Casino Resorts, Inc. Trump Hotels and Casino Resorts Inc. Common Stock Fund-
302 Purchases $3,904,674
244 Sales N/A
The Chicago Trust Company Loan Fund-
87 Purchases 2,132,591
119 Sales N/A
Merrill Lynch Ready Asset Trust Fund-
162 Purchases 2,022,803
136 Sales N/A
Merrill Lynch Retirement Presentation Trust Fund-
121 Purchases 3,626,730
76 Sales N/A
Merrill Lynch Pacific Fund
110 Purchases 1,433,490
141 Sales N/A
Merrill Lynch Capital Fund-
110 Purchases 581,708
155 Sales N/A
Merrill Lynch Federal Securities Fund
77 Purchases 273,169
134 Sales N/A
Merrill Lynch Basic Value Fund-
115 Purchases 1,271,107
149 Sales N/A
Merrill Lynch Growth Fund-
134 Purchases 2,005,062
148 Sales N/A
Merrill Lynch Technology Fund-
65 Purchases 739,728
64 Sales N/A
Merrill Lynch Loan Fund-
48 Purchases 1,027,093
33 Sales N/A
<CAPTION>
(h) Current Value of Asset (i) Net Gain
(a) Identity of Party Involved (d) Selling Price (g) Cost of Asset on Transaction Date (Loss)
- -------------------------------------- ------------------- --------------------- ------------------------------ ---------------
<S> <C> <C> <C> <C>
Trump Hotels & Casino Resorts, Inc.
N/A $3,904,674 $3,904,674 N/A
2,755,701 2,746,636 2,755,701 $9,065
The Chicago Trust Company
N/A 2,132,591 2,132,591 N/A
1,921,684 1,921,684 1,921,684 0
Merrill Lynch
N/A 2,022,803 2,022,802 N/A
7,633,176 7,633,176 7,633,176 0
Merrill Lynch
N/A 3,626,730 3,626,730 N/A
5,133,455 5,133,455 5,133,455 0
Merrill Lynch
N/A 1,433,490 1,433,490 N/A
5,343,406 5,269,392 5,343,406 74,014
Merrill Lynch
N/A 581,708 581,708 N/A
7,777,259 7,037,958 7,777,259 739,301
Merrill Lynch
N/A 273,169 273,169 N/A
2,674,003 2,713,890 2,674,003 (39,887)
Merrill Lynch
N/A 1,271,107 1,271,107 N/A
8,365,827 6,759,505 8,365,827 1,606,322
Merrill Lynch
N/A 2,005,062 2,005,062 N/A
6,725,860 5,949,464 6,725,860 776,396
Merrill Lynch
N/A 739,728 739,728 N/A
1,518,208 1,473,509 1,518,208 44,699
Merrill Lynch
N/A 1,027,093 1,027,093 N/A
5,838,587 5,838,587 5,838,587 0
</TABLE>
(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.
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
