Trump Wants to Build TrumpStreet Casino in Philadelphia

ATLANTIC CITY, New Jersey - (PRESS RELEASE) -- Officials from Trump Entertainment Resorts, Inc. and the newly created Keystone Redevelopment Partners, LLC personally delivered to the Pennsylvania Gaming Control Board this morning the full application for TrumpStreet Casino and Entertainment Complex ("TrumpStreet"). Together, Trump Entertainment Resort officials, Pat Croce, and other members of Keystone Redevelopment Partners boarded a bus fully-wrapped with renderings of the $350 million proposed development in North Philadelphia and delivered the applications to Harrisburg.

"Trump Entertainment Resorts and its partners in TrumpStreet have formed Keystone Redevelopment Partners for this exciting venture because we believe we have the right proposal to attract patrons, produce revenue for the City and State, and drive the area's economic development through the financial strength of TrumpStreet," said James B. Perry, President and Chief Executive Officer of Trump. "This is a team that is dedicated to the City and to the community and, together, we hope to become Philadelphia and Pennsylvania's newest and one of the best corporate citizens in Philadelphia and Pennsylvania."

The gaming floor will be at the center of the action at TrumpStreet, featuring 3,000 of the most popular slot machines in a vibrant casino. The complex will also showcase a variety of food and beverage outlets, theaters, retail and other entertainment amenities that will highlight the best in Philadelphia cuisine, music and entertainment.

Specifically, TrumpStreet will feature an attached 3-theater movieplex, a steakhouse, a buffet, a sports bar, a food court, two casual dining restaurants, an oyster bar, several casino bars, and other dining venues that will seek to ensure the highest levels of tourism activity and customer satisfaction.

Keystone Redevelopment Partners, a joint venture between Trump Entertainment Resorts and a group of dedicated local investors led by Pat Croce, is pursuing one of two Philadelphia Category 2 Gaming Licenses anticipated to be issued by the Pennsylvania Gaming Control Board by the end of 2006. Each license will initially allow the operation of up to 3,000 slot machines with the ability to apply for an additional 2,000 slot machines. If successful in obtaining one of the two slot licenses, TrumpStreet would be planned for the former Budd Co. factory site located at the intersection of Interstate 76 and Pennsylvania Route 1 in the Nicetown section of the City. As previously announced, Trump has a five-year option to either lease or buy the site for the potential development of a gaming facility.

Keystone Redevelopment Partners represents a "dream team" alliance for a casino venture in Pennsylvania - the combination of the strength of the Trump brand coupled with several prominent Philadelphia partners. Trump Entertainment Resorts, Inc. will be the majority partner and will act as the developer and manager for the project. The dynamic partners represent some of the best known names in Philadelphia sports, food, business and entertainment.

"TrumpStreet is designed to be an entertainment destination that is a tribute to the rich culture of the City of Philadelphia," Pat Croce said today. "The design will honor the past of the Budd site while enhancing the community. It's exciting to be part of a project that could serve as the economic catalyst to revitalize an entire neighborhood."

James B. Perry commented that the Philadelphia application is part of the strategic plan for Trump Entertainment Resorts to diversify outside of the Atlantic City market. "We are currently investigating numerous options to grow the company and build on the strength of the Trump brand, and TrumpStreet represents a tremendous opportunity for us to participate in a significant project to create value for our shareholders," Perry said.