{"id":1003719958,"date":"2008-03-05T12:00:00","date_gmt":"2008-03-05T20:00:00","guid":{"rendered":"https:\/\/64.70.41.235\/2008\/03\/05\/trump-entertainment-lost-198m-in-2007\/"},"modified":"2022-12-08T18:22:45","modified_gmt":"2022-12-09T02:22:45","slug":"trump-entertainment-lost-198m-in-2007","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/trump-entertainment-lost-198m-in-2007\/","title":{"rendered":"Trump Entertainment Lost $198M in 2007"},"content":{"rendered":"

Trump Entertainment Resorts Inc. today announced a net loss of $198.2 million ($6.38 per share) for all of 2007 on revenues of $988.2 million. \u00a0By comparison, the company recorded a net loss of $18.5 million on revenues of $1 billion for 2006. For the fourth quarter of 2007, the company lost $183.2 million on revenues of $228.6 million. The 2006 fourth quarter numbers show a loss of $9.7 million on $244.2 million in revenues. Attributed to the recent introduction of gaming in Pennsylvania, a partial smoking ban in Atlantic City, and weakness in both the economy and credit markets, Trump Entertainment\u2019s losses come as the company prepares to open a new 782-room hotel tower at the Taj Mahal in Atlantic City. The direct causes of the loss for the 2007 fiscal year and for the fourth quarter were a non-cash charge of $238.7 million in goodwill and other asset impairment charges, a $4.1 million charge related to the refinancing of the company\u2019s credit facility, and a $57.6 million decline in gaming revenues on the year, including an $18.6 million drop in the fourth quarter.\u00a0 \u00a0Accountants levy asset impairment charges when an asset recording normal, scheduled depreciation and amortization charges suffers a sudden decline in value. In this case, the company claimed goodwill and intangible asset impairment charges of $30.4 million against the Taj Mahal (pictured), $53.1 million against the Trump Plaza, and $63.9 million related to the Trump Marina. In addition, the company recorded an asset impairment charge of $91.3 million against long-lived assets of Trump Marina.<\/p>\n","protected":false},"excerpt":{"rendered":"

Trump Entertainment Resorts Inc. today announced a net loss of $198.2 million ($6.38 per share) for all of 2007 on revenues of $988.2 million. \u00a0By comparison, the company recorded a net loss of $18.5 million on revenues of $1 billion for 2006. For the fourth quarter of 2007, the company lost $183.2 million on revenues…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003719958","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nTrump Entertainment Lost $198M in 2007 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/trump-entertainment-lost-198m-in-2007\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump Entertainment Lost $198M in 2007\" \/>\n<meta property=\"og:description\" content=\"Trump Entertainment Resorts Inc. today announced a net loss of $198.2 million ($6.38 per share) for all of 2007 on revenues of $988.2 million. \u00a0By comparison, the company recorded a net loss of $18.5 million on revenues of $1 billion for 2006. For the fourth quarter of 2007, the company lost $183.2 million on revenues…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/trump-entertainment-lost-198m-in-2007\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2008-03-05T20:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:22:45+00:00\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/trump-entertainment-lost-198m-in-2007\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/trump-entertainment-lost-198m-in-2007\/\",\"name\":\"Trump Entertainment Lost $198M in 2007 - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"datePublished\":\"2008-03-05T20:00:00+00:00\",\"dateModified\":\"2022-12-09T02:22:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1d2a393e4a57d6d45707374e94ab4fef\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/trump-entertainment-lost-198m-in-2007\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/trump-entertainment-lost-198m-in-2007\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/trump-entertainment-lost-198m-in-2007\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Trump Entertainment Lost $198M in 2007\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1d2a393e4a57d6d45707374e94ab4fef\",\"name\":\"the Editors of Commercial Property Executive\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4a1f01b65b63f52e71ac6af809a4afbf3c978600fbf7dee759ae70950f9604c7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/4a1f01b65b63f52e71ac6af809a4afbf3c978600fbf7dee759ae70950f9604c7?s=96&d=mm&r=g\",\"caption\":\"the Editors of Commercial Property Executive\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/cpeadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Trump Entertainment Lost $198M in 2007 - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/trump-entertainment-lost-198m-in-2007\/","og_locale":"en_US","og_type":"article","og_title":"Trump Entertainment Lost $198M in 2007","og_description":"Trump Entertainment Resorts Inc. today announced a net loss of $198.2 million ($6.38 per share) for all of 2007 on revenues of $988.2 million. \u00a0By comparison, the company recorded a net loss of $18.5 million on revenues of $1 billion for 2006. 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