Articles

Trump posts profit increase

Trump Entertainment Resorts (TER), which runs three casinos in Atlantic City, has reported an increase in profit.

Net income for the company rose from $5.8 million to $6.6 million, the Associated Press reported.

Despite the profit increase, however, the company's revenue actually went down by $7.3 million.

This year it took $281.1 million for the third quarter, while last year it took $288.4 million.

Speaking before the profit announcement, analyst for Morgan Joseph & Co Adam Steinberg said: "Despite the challenges the company is facing, we believe the investments have been made to make the properties more competitive and that there is adequate liquidity to see the company through this period."

TER owns Trump Plaza Hotel & Casino, Trump Marina Hotel Casino and the Trump Taj Mahal.

Chief executive for TER Mark Juliano said that these casinos have been facing increased competition from slots businesses in surrounding states.

TER is a separate corporate entity to the Trump Organization, which deals with real estate.