================================================================================
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, 1998
TRUMP INDIANA 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 INDIANA SAVINGS PLAN
--------------------------
FINANCIAL STATEMENTS AS OF DECEMBER 31, 1998 AND 1997
-----------------------------------------------------
TOGETHER WITH
-------------
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
----------------------------------------
<PAGE>
TRUMP INDIANA SAVINGS PLAN
--------------------------
INDEX
-----
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
FINANCIAL STATEMENTS:
Statements of Net Assets Applicable to Participants' Equity as of December 31,
1998 and 1997
Statement of Changes in Net Assets Applicable to Participants' Equity for the
Year Ended December 31, 1998
Notes to Financial Statements
SUPPLEMENTAL SCHEDULES:
I -- Item 27a - Schedule of Assets Held for Investment Purposes as of
December 31, 1998
II -- Item 27d - Schedule of Reportable Transactions for the Year Ended
December 31, 1998
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
----------------------------------------
To the Benefits Committee of the
Trump Indiana Savings Plan:
We have audited the accompanying statements of net assets applicable to
participants' equity of the Trump Indiana Savings Plan (the "Plan") as of
December 31, 1998 and 1997, and the related statement of changes in net assets
applicable to participants' equity for the year ended December 31, 1998. 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 of the
Plan as of December 31, 1998 and 1997, and the changes in its net assets
applicable to participants' equity for the year ended December 31, 1998, 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 10, 1999
<PAGE>
TRUMP INDIANA SAVINGS PLAN
--------------------------
STATEMENTS OF NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
-----------------------------------------------------------
AS OF DECEMBER 31, 1998 AND 1997
--------------------------------
<TABLE>
<CAPTION>
1998 1997
------------ -----------
<S> <C> <C>
ASSETS:
Investments at market value (Notes 1 and 3)-
The Chicago Trust Company Stated Principal Value
Investment Trust Fund $ 155,385 $ 76,925
SoGen International Fund 111,593 82,395
Massachusetts Investors Trust Fund 302,900 146,429
Oppenheimer Quest Value Fund 330,156 198,488
Oppenheimer Quest Opportunity Value Fund 430,883 266,292
Montag & Caldwell Growth Fund 418,811 204,386
AIM Constellation Fund 359,835 222,118
Templeton Foreign Fund 155,106 116,164
Oppenheimer Quest Capital Value Fund 34,753 0
Davis New York Venture Fund 15,509 0
Franklin Small Cap Growth Fund 17,651 0
Trump Hotels & Casino Resorts, Inc. Common Stock 19,704 13,123
Participants' Loans Receivable 257,478 80,197
Other 92,519 662
Receivables-
Contributions Receivable from Plan Sponsor 113,071 122,434
Contributions Receivable from Participants 76,239 78,023
---------- ---------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY $2,891,593 $1,607,636
========== ==========
The accompanying notes to financial statements are an integral part of these statements.
</TABLE>
<PAGE>
TRUMP INDIANA SAVINGS PLAN
--------------------------
STATEMENT OF CHANGES IN NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
---------------------------------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1998
------------------------------------
The Chicago
Trust
Company
Stated
Principal
Value
Investment
Trust Fund
---------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, beginning
of year $76,925
-----------
Contributions-
Participants 43,546
Plan Sponsor (net of forfeitures) 49,344
Participant Rollovers 0
-----------
Total contributions 92,890
Dividend income 0
Interest income 0
Realized/unrealized appreciation (depreciation) of investments 6,720
Distributions to participants (16,959)
Loans issued to participants (5,687)
Loan principal repayments 2,070
Administrative expenses (216)
Interfund transfers (net) (358)
Transfers from related plans 0
-----------
Increase (decrease) in net assets 78,460
-----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $155,385
===========
<TABLE>
<CAPTION>
Oppenheimer
SoGen Massachusetts Oppenheimer Quest
International Investors Quest Opportunity
Fund Trust Fund Value Fund Value Fund
------------- ------------- ----------- -----------
<S> <C> <C> <C> <C>
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, beginning
of year $82,395 $146,429 $198,488 $266,292
----------- ---------- --------- ---------
Contributions-
Participants 56,994 117,065 139,012 183,052
Plan Sponsor (net of forfeitures) 14,753 29,090 35,891 48,280
Participant Rollovers 19 24,887 17,940 17,940
----------- ---------- --------- ---------
Total contributions 71,766 171,042 192,843 249,272
Dividend income 9,932 16,304 14,860 25,229
Interest income 0 0 (4) (7)
Realized/unrealized appreciation (depreciation) of investments (11,077) 27,898 4,097 (5,264)
Distributions to participants (20,691) (43,540) (54,149) (68,695)
Loans issued to participants (17,401) (28,828) (35,619) (50,000)
Loan principal repayments 5,463 9,482 10,300 16,528
Administrative expenses (416) (720) (814) (1,249)
Interfund transfers (net) (8,378) 4,833 154 (1,223)
Transfers from related plans 0 0 0 0
----------- ---------- --------- ---------
Increase (decrease) in net assets 29,198 156,471 131,668 164,591
----------- ---------- --------- ---------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $111,593 $302,900 $330,156 $430,883
=========== ========== ========= =========
<CAPTION>
Montag &
Caldwell AIM Templeton Oppenheimer
Growth Constellation Foreign Quest Capital
Fund Fund Fund Value Fund
---------- ------------- ---------- -------------
<S> <C> <C> <C> <C>
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, beginning
of year $204,386 $222,118 $116,164 $ 0
---------- ---------- ---------- ---------
Contributions-
Participants 142,792 133,203 79,466 12,089
Plan Sponsor (net of forfeitures) 35,005 34,345 19,341 3,706
Participant Rollovers 17,940 57 57 17,864
---------- ---------- ---------- ---------
Total contributions 195,737 167,605 98,864 33,659
Dividend income 13,037 8,939 16,851 1,079
Interest income (13) 0 0 0
Realized/unrealized appreciation (depreciation) of investments 72,178 41,903 (27,563) 2,496
Distributions to participants (52,208) (42,262) (35,804) (461)
Loans issued to participants (41,922) (38,433) (17,862) (5,393)
Loan principal repayments 13,980 13,383 8,650 2,497
Administrative expenses (885) (957) (511) (11)
Interfund transfers (net) 14,521 (12,461) (3,683) 887
Transfers from related plans 0 0 0 0
---------- ---------- ---------- ---------
Increase (decrease) in net assets 214,425 137,717 38,942 34,753
---------- ---------- ---------- ---------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $418,811 $359,835 $155,106 $34,753
========== ========== ========== =========
The accompanying notes to financial statements are an integral part of this statement.
</TABLE>
<TABLE>
<CAPTION>
Trump Hotels
Davis New & Casino
York Franklin Small Resorts, Inc. Participants'
Venture Cap Growth Common Loans
Fund Fund Stock Receivable
---------- -------------- ------------ -------------
<S> <C> <C> <C> <C>
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, beginning
of year $ 0 $ 0 $13,123 $80,197
--------- --------- --------- ---------
Contributions-
Participants 10,886 8,422 22,398 0
Plan Sponsor (net of forfeitures) 2,797 1,926 6,564 0
Participant Rollovers 0 7,005 0 0
--------- --------- --------- ---------
Total contributions 13,683 17,353 28,962 0
Dividend income 350 251 0 0
Interest income 0 0 714 0
Realized/unrealized appreciation (depreciation) of investments 658 (537) (17,267) 0
Distributions to participants (1,654) (879) (8,658) (7,171)
Loans issued to participants (414) 0 (1,357) 242,903
Loan principal repayments 685 90 244 (70,815)
Administrative expenses (11) 0 (10) 0
Interfund transfers (net) 2,212 1,373 3,953 0
Transfers from related plans 0 0 0 12,364
--------- --------- --------- ---------
Increase (decrease) in net assets 15,509 17,651 6,581 177,281
--------- --------- --------- ---------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $15,509 $17,651 $19,704 $257,478
========= ========= ========= =========
<CAPTION>
Other Total
----------- ----------
<S> <C> <C>
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, beginning
of year $201,119 $1,607,636
---------- -----------
Contributions-
Participants 76,963 1,025,888
Plan Sponsor (net of forfeitures) (7,974) 273,068
Participant Rollovers (89,321) 14,388
---------- ----------
Total contributions (20,332) 1,313,344
Dividend income 0 106,832
Interest income 27,039 27,729
Realized/unrealized appreciation (depreciation) of investments 0 94,242
Distributions to participants (199) (353,330)
Loans issued to participants 13 0
Loan principal repayments (12,557) 0
Administrative expenses (745) (6,545)
Interfund transfers (net) (1,830) 0
Transfers from related plans 89,321 101,685
---------- ----------
Increase (decrease) in net assets (80,710) 1,283,957
---------- ----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $281,829 $2,891,593
========== ==========
The accompanying notes to financial statements are an integral part of this statement.
</TABLE>
<PAGE>
TRUMP INDIANA SAVINGS PLAN
--------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(1) SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES:
----------------------
Basis of Accounting-
--------------------
The accompanying financial statements of the Trump Indiana 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 Indiana, Inc. (the "Plan Sponsor"). These costs represent trustee
fees and professional services and amounted to approximately $18,000 in
1998.
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"). 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.
Reclassifications-
------------------
Certain reclassifications have been made to prior year financial
statements to conform to the current year presentation.
(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 January 1, 1997. All full or part-time
non-union employees, become eligible for participation in the Plan on
the enrollment date immediately following the completion of 12
<PAGE>
-2-
months of service and the attainment of age 18. In addition, union
employees covered by a collective bargaining agreement that provides
for participation in the Plan may enroll upon meeting the same
requirements as non-union employees.
The Plan is administered by a committee appointed by the Plan Sponsor
(the "Plan Administrator"). The Chicago Trust Company was appointed as
the trustee of the Plan by the Plan Administrator.
Contributions-
--------------
Participants-
-------------
Compensated participants, as defined, are eligible to voluntarily
contribute to the Plan up to 15% of their annual compensation
(effective January 1, 1999, 20% of annual compensation), as defined.
Tax deferred contributions are subject to a limit by the Internal
Revenue Code. The 1998 limit was $10,000 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
contributions, not to exceed 3.0% of the participant's annual
compensation, as defined.
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 contributions 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 $5,000, 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, 1998 or 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 1998, $43,110 was used to reduce
Plan Sponsor contributions. As of December 31, 1998 and 1997, $60,069
and $21,142 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, 1998 had interest rates ranging from 8.75% to 9.50%. 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 twelve available investment
vehicles as described below-
Money Market Fund-
------------------
THE CHICAGO TRUST COMPANY STATED PRINCIPAL VALUE INVESTMENT TRUST FUND
- A money market equivalent account. This fund invests in short-term
high quality financial instruments issued by insurance companies and
banks.
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 United
States and foreign companies.
<PAGE>
-4-
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 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.
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. This fund also may invest in high-yield, non
investment grade bonds.
DAVIS NEW YORK VENTURE FUND - Mutual fund investing primarily in equity
securities of United States and foreign companies with the objective of
capital appreciation.
FRANKLIN SMALL CAP GROWTH FUND - Mutual fund investing in equity
securities of companies with a market capitalization of less than $1
billion.
Common Stock-
-------------
TRUMP HOTELS & 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 has not yet received a determination letter from the Internal
Revenue Service stating whether the Plan, as designed, is in compliance
with the applicable requirements of the Internal Revenue Code. However,
the Plan Administrator believes 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>
-5-
(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 are shares of a money market fund 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 THCR common stock ("Common
Stock") and, therefore, these transactions qualify as party-in-interest.
As of December 31, 1998 and 1997, the Plan holds Common Stock, with a
market value of $19,704 and $13,123, respectively. During the year ended
December 31, 1998, Common Stock was acquired at a cost of $76,484; and
Common Stock was sold with an original cost basis of $56,406.
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 Marina Hotel & Casino Savings Plan,
net ($3,277)
Transfers out of the Trump Taj Mahal Hotel & Casino Savings,
Plan, net (73,313)
Transfers out of the Trump Plaza Hotel & Casino Savings
Plan, net (46,372)
Transfers to the Trump Casino Services Savings Plan, net 21,277
Transfers to the Trump Indiana Savings Plan, net 101,685
------------
Net Related Plan Transfers $ 0
============
(7) SUBSEQUENT EVENT:
-----------------
During 1999, the Trump Plaza Hotel & Casino Savings Plan and the Plan
will merge with the Trump Casino Services Savings Plan (the "TCS Plan").
The TCS Plan will be renamed the Trump Savings Plan.
<PAGE>
SCHEDULE I
TRUMP INDIANA SAVINGS PLAN
--------------------------
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
----------------------------------------------------------
AS OF DECEMBER 31, 1998
-----------------------
EMPLOYER IDENTIFICATION #22-3216299, PLAN NUMBER 001
----------------------------------------------------
<TABLE>
<CAPTION>
(c) Description of investment
(b) Identity of issue, including maturity date, rate of
borrower, lessor or interest, collateral, par or (e) Market
(a) similar party maturity value (d) Cost Value
- --- -------------------- ---------------------------------- ----------- ------------
<S> <C> <C> <C>
* The Chicago Trust Stated Principal Value
Company Investment Trust Fund, Money
Market Funds, 88,725 units of
participation $148,933 $155,385
----------- ------------
SoGen Funds SoGen International Fund, Equity
Securities, 4,843 units of
participation 126,573 111,593
MFS Funds Massachusetts Investors Trust
Fund, Equity Securities,
14,958 units of participation 273,957 302,900
Oppenheimer Quest Value Fund, Equity
Securities, 15,478 units of
participation 319,206 330,156
Oppenheimer Quest Opportunity Value Fund,
Equity and Debt Securities,
11,986 units of participation 429,280 430,883
Montag Montag & Caldwell Growth Fund,
Equity Securities, 14,125
units of participation 339,656 418,811
AIM Funds, Inc. AIM Constellation Fund, Equity
Securities, 11,790 units of
participation 321,949 359,835
Templeton Funds, Templeton Foreign Fund, Equity
Inc. Securities, 18,487 units of
participation 186,595 155,106
Oppenheimer Quest Capital Value Fund, Equity
and Debt Securities, 1,024
units of participation 32,486 34,753
Davis Funds, Inc. Davis New York Venture Fund,
Equity Securities, 620 units 14,590 15,509
of participation
Franklin Funds, Franklin Small Cap Growth Fund,
Inc. Equity Securities, 782 units
of participation 17,839 17,651
----------- ------------
Total investment in mutual funds 2,062,131 2,177,197
----------- ------------
</TABLE>
<PAGE>
-2- SCHEDULE I
(Continued)
<TABLE>
<CAPTION>
(c) Description of investment
(b) Identity of issue, including maturity date, rate of
borrower, lessor or interest, collateral, par or (e) Market
(a) similar party maturity value (d) Cost Value
- --- -------------------- ---------------------------------- ----------- ------------
<S> <C> <C> <C>
** Trump Hotels & Trump Hotels & Casino Resort,
Casino Resorts, Inc. Common Stock, 5,254 shares
Inc. $35,682 $19,704
Participants' Interest rates ranging from
Loans 8.75% to 9.50% and maturities
ranging from 1999 through 2002 257,478 257,478
----------- ------------
$2,504,224 $2,609,764
=========== ============
*Denotes party-in-interest
**Denotes related party
The accompanying notes to financial statements are an integral part of this schedule.
</TABLE>
<PAGE>
SCHEDULE II
TRUMP INDIANA SAVINGS PLAN
--------------------------
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
----------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1998 (A)
----------------------------------------
EMPLOYER IDENTIFICATION #22-3216299, PLAN NUMBER 001
----------------------------------------------------
<TABLE>
<CAPTION>
(c) Purchase
(a) Identity of Party Involved (b) Description of Asset Price (d) Selling Price
- ----------------------------------- ---------------------------------------------------- --------------- ---------------------
<S> <C> <C> <C>
The Chicago Trust Company Stated Principal Value Investment Trust Fund-
139 Purchases $142,233 N/A
108 Sales N/A $70,494
SoGen Funds SoGen International Fund-
71 Purchases 93,128 N/A
202 Sales N/A 52,832
MFS Funds Massachusetts Investors Trust Fund-
87 Purchases 211,081 N/A
226 Sales N/A 82,507
Oppenheimer Quest Value Fund-
79 Purchases 234,371 N/A
231 Sales N/A 106,854
Oppenheimer Quest Opportunity Value Fund-
80 Purchases 309,234 N/A
265 Sales N/A 139,380
Montag Montag & Caldwell Growth Fund-
86 Purchases 251,166 N/A
239 Sales N/A 108,920
AIM Funds, Inc. AIM Constellation Fund-
75 Purchases 201,656 N/A
261 Sales N/A 105,843
Templeton Funds, Inc. Templeton Foreign Fund-
74 Purchases 133,973 N/A
238 Sales N/A 67,468
</TABLE>
<TABLE>
<CAPTION>
(h) Current Value of Asset (i) Net Gain
(a) Identity of Party Involved (g) Cost of Asset on Transaction Date (Loss)
- ----------------------------------- --------------------- ------------------------------ ---------------
<S> <C> <C> <C>
The Chicago Trust Company $142,233 $142,233 N/A
68,438 70,494 $2,056
SoGen Funds 93,128 93,128 N/A
56,061 52,832 (3,229)
MFS Funds 211,081 211,081 N/A
76,576 82,507 5,931
Oppenheimer 234,371 234,371 N/A
100,234 106,854 6,620
Oppenheimer 309,234 309,234 N/A
133,449 139,380 5,931
Montag 251,166 251,166 N/A
93,387 108,920 15,533
AIM Funds, Inc. 201,656 201,656 N/A
103,141 105,843 2,702
Templeton Funds, Inc. 133,973 133,973 N/A
74,378 67,468 (6,910)
</TABLE>
<PAGE>
-2-
SCHEDULE II
(Continued)
<TABLE>
<CAPTION>
(c) Purchase
(a) Identity of Party Involved (b) Description of Asset Price (d) Selling Price
- ----------------------------------- ---------------------------------------------------- --------------- ---------------------
<S> <C> <C> <C>
Trump Hotels & Casino Resorts, Trump Hotels & Casino Resorts, Inc. Common Stock-
Inc.
70 Purchases $76,484 N/A
65 Sales N/A $52,636
The Chicago Trust Company Loan Fund-
64 Purchases 242,909 N/A
41 Sales N/A 65,628
</TABLE>
<TABLE>
<CAPTION>
(h) Current Value of Asset (i) Net Gain
(a) Identity of Party Involved (g) Cost of Asset on Transaction Date (Loss)
- ----------------------------------- --------------------- ------------------------------ ---------------
<S> <C> <C> <C>
Trump Hotels & Casino Resorts, $76,484 $76,484 N/A
Inc. 56,406 52,636 ($3,770)
242,909 242,909 N/A
The Chicago Trust Company 65,628 65,628 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, 1998.
The accompanying notes to financial statements are an integral part of this schedule.
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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 Hotels & Casino Resorts, Inc.
previously filed Form S-8 Registration Statement No. 333-2201.
ARTHUR ANDERSEN LLP
Roseland, New Jersey
June 10, 1999
