Interview with Sean Hannity; February 17, 2000
How did you get interested in politics?
I listened to talk radio when I was young. I also talked with friends about issues, but never worked on any political campaigns or anything that involved. It has always just been a personal interest of mine.
Who is your personal hero?
I don't have heros. I don't look at people on a pedestal. There are people I admire, but I would have to say that there is no individual that I would call a "hero".
If you pass any law, what would that law be?
That I am in charge of everything. Just kidding! I would make it the law of the land that Americans have to be accountable for their own behavior & stop looking for others to blame.
Where do you forsee yourself in 20 years, and what will you be doing?
In 20 years? Whatever God has planned for me.
What do you most/least like about New York & Atlanta.
If you like your life, it doesn't matter where you are. I've lived in 5 states, and my happiness has never depended on the location. Every place has its good and bad side, but the most important thing is your attitude about life and all of its opportunities.
How would you define a "conservative"
A conservative is someone who first believes in freedom, individual responsibility, and as little government intrustion as possible
How would you define a "liberal"
A liberal believes that government has the answer to all of their problems. (and liberals only see problems)
What historical figure would you want to trade places with?
What is your message to your fans?
Thank you for your support!
What is your message to your critics?
Thank you for making me bigger than I really am!
How has becoming a parent affected your philosophy of life?
More than anything, I want to live to be with my son as long as possible, and watch him grow up in this world and be prosperous.
Letter to Shareholders; June 13, 2000
This year's Annual Report focuses on the value of the Trump name in differentiating our properties. Recognizing that the public associates Trump with the highest level of style, quality, service and entertainment, we launched a new promotional campaign during 1998 that emphasizes the Trump name and all that it signifies.
During the last half of 1998, when the television, newspaper, billboard and direct mail advertisements combined to reach the largest audience, we posted a significant number of return visits from past Trump guests and gained new visitors to our properties. That program has been an unqualified success and will continue in 1999.
Our year-end numbers were similarly strong, with EBITDA (earnings before interest, taxes, depreciation, amortization and CRDA, state and municipal obligations) for 1998 exceeding Wall Street estimates. For the year ended December 31, 1998, our consolidated net revenues were $1,403.6 million, compared to $1,399.4 million for the full year 1997. EBITDA for the year was $246.9 million, versus $246.4 million reported for the prior year. Net loss for the year was $37.6 million, or $1.69 per share, before one-time charges. These results exceeded Wall Street consensus estimates for the year, which anticipated a net loss of $1.84 per share. After the one-time charges, the net loss was $39.7 million, or $1.79 per share, compared to a net loss of $42.1 million, or $1.85 per share, in 1997.
Our revenue growth was 10 percent for the quarter and constant for the year, including a number of one-time charges. Most important, we still achieved significant profit growth. The increase in profit resulted largely from a number of management strategies that were effectively implemented and reflects the success of our strategy of focusing on and growing profitable revenues. These strategies included the new advertising and marketing campaigns mentioned above; our continued focus on and benefits from the economies of scale we effected by centralizing certain operations and purchases for our three Atlantic City hotel casinos; the efficient spending of promotion dollars in a qualitative, as opposed to a purely quantitative, manner to drive the business; and our continued focus on the debt and related reductions in interest expense as part of our overall cost savings efforts.
All of those strategies meshed during the last six months of the year, both effecting great results for 1998 and setting the pace for 1999. For the six months ending December 31, 1998, EBITDA grew $20 million, or 17 percent at the properties, when compared to 1997. We believe that the last six months of 1998 represent how well the casinos will continue to perform.
At the same time, we continued enhancing our properties. At the Taj Mahal, we completed a renovation of the baccarat pit, furthering its position as one of the most exclusive gaming environments in all of Atlantic City. We also refurbished the casino floor with additional new state-of-the-art slot machines and exciting new signage.
To complement a day at the Taj Mahal, we added a Sbarro Italian Restaurant to the mix of dining establishments and a Sunglass Hut to our many other named retail stores.
As a part of our effort to make Atlantic City a truly family-friendly resort, we opened our "Kids Day Care" facility to meet the day care needs of children at the Taj Mahal and added a "Kids Fun Center" at the Plaza.
Dining at the Plaza continues to be one of Atlantic City's foremost attractions. The renovation of both Roberto's Gourmet Italian Restaurant and the sixth floor Restaurant Row ensures that wherever guests choose to dine, they will enjoy elegant surroundings as well as superb food and service.
The new four-acre entrance and porte cochere at the Plaza, including new landscaping, lighting, marble pillars and walls, set the stage for a gracious welcome to Atlantic City and make the Plaza the easiest entrance to any resort from the Atlantic City Expressway. For the comfort and convenience of our bus patrons, we also expanded and refurbished our transportation center complex. The changes at Trump Marina continue to make this property one of the most distinctive in Atlantic City. With more than a hundred shows produced during the year, the Marina is positioned as the premier entertainment facility in the Atlantic City market.
Enhancing the facilities in support of that entertainment, we completed renovations to the Catamaran Café and the remodeling and expansion of the Deck, doubling this popular bar and restaurant space.
To meet the demand for finely appointed guest rooms and common areas, we finished renovations to our Bay Tower suites and to all of our public meeting rooms and ballrooms.
At Trump Indiana, we celebrated the grand opening of our 300-room hotel and finalized the design of the new 1,500-car garage, which will be under construction shortly. Our targeted marketing and advertising programs continue to draw guests to this property, which has become even more popular with the availability of first class overnight accommodations and will continue to grow with the opening of the garage.
We entered the new year with the exciting announcement that we had entered into a definitive agreement to acquire the Flamingo Hilton Riverboat Casino in Kansas City, Missouri, from Hilton Hotels Corporation. The acquisition covers all of the operation's assets, which include a casino vessel, parking garage and all related gaming equipment.
This outstanding casino property is located in a dynamic market with tremendous upside potential, and it represents just the first of several announcements that we expect to make during 1999 related to the growth of our company.
While we are extremely pleased with the operations at each of our properties, we will continue to focus on cost savings and operational synergies that positively impact our results. Additionally, reducing our interest expense is still a priority, as reducing that expense will itself have a direct and very positive effect on the bottom line.
Finally, as exemplified by the Flamingo Hilton agreement, we are committed to expansion and will continue to evaluate selective new market opportunities across the country and internationally to grow the businessand maximize shareholder returns.
We're very excited about the year ahead and invite you to join us in continuing to build Trump Hotels & Casino Resorts, Inc., by experiencing firsthand all that the Trump name -- and properties -- have to offer.
Frequently Asked Questions; December 23, 2008
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