International edition
October 19, 2021

Total costs and expenses declined to us$ 214.7 million from us$ 219.4 million

Trump Entertainment first quarter loss narrows

(US).- Trump Entertainment Resorts said its first-quarter loss narrowed as the casino operator controlled costs and benefited from increased spending on room, food and beverage by cash-paying customers.

T

he company reported a loss of us$ 8.1 million versus a loss of us$ 9.7 million in the prior year. Analysts polled by Thomson Financial forecast a loss of 25 cents per share.

Total costs and expenses declined to us$ 214.7 million from us$ 219.4 million.

Revenue for the quarter dipped 1 percent to us$ 234.3 million from us$ 237.7 million a year ago due to a us$ 3.8 million drop in gaming revenue. The company said the gaming revenue decline was primarily a result of increased competition in the neighboring states of Pennsylvania and New York as additional gaming capacity was added in these markets.

Trump’s Taj Mahal casino in Atlantic City posted a slight revenue increase during the quarter. Analysts had estimated revenue at us$ 238.6 million.

"Although gaming revenue declined, our cash room, food and beverage revenues increased 12 percent over the first quarter of last year, and our property level payroll expense declined by over $4 million or nearly 5 percent," Chief Operating Officer Mark Juliano said in a statement.

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