x

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended:     September 30, 2002

OR

o

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission file number:  1-13794

TRUMP HOTELS & CASINO RESORTS, INC.

(Exact name of registrant as specified in its charter)

DELAWARE

13-3818402

(State or other jurisdiction of
incorporation or organization)

(I.R.S. Employer
Identification No.)

1000 Boardwalk
Atlantic City, New Jersey

08401

(Address of principal executive offices)

(Zip Code)

(609) 449-6515

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Commission file number: 33-90786

TRUMP HOTELS & CASINO RESORTS HOLDINGS, L.P.

(Exact name of registrant as specified in its charter)

DELAWARE

13-3818407

(State or other jurisdiction of
incorporation or organization)

(I.R.S. Employer
Identification No.)

1000 Boardwalk
Atlantic City, New Jersey

08401

(Address of principal executive offices)

(Zip Code)

(609) 449-6515

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Commission file number: 33-90786

TRUMP HOTELS & CASINO RESORTS FUNDING, INC.

(Exact name of registrant as specified in its charter)

DELAWARE

13-3818405

(State or other jurisdiction of
incorporation or organization)

(I.R.S. Employer
Identification No.)

1000 Boardwalk
Atlantic City, New Jersey

08401

(Address of principal executive offices)

(Zip Code)

(609) 449-6515

(Registrant’s telephone number, including area code)

Not Applicable

Yes

x

No

o

Page No.

PART I-- FINANCIAL INFORMATION

ITEM 1-- Financial Statements

Condensed Consolidated Balance Sheets of Trump Hotels & Casino Resorts, Inc. as of December 31,
2001 and September 30, 2002 (unaudited)

1

Condensed Consolidated Statements of Operations of Trump Hotels & Casino Resorts, Inc.
for the Three and Nine Months Ended September 30, 2001 and 2002 (unaudited)

2

Condensed Consolidated Statement of Stockholders’ Equity of Trump Hotels & Casino Resorts, Inc.
for the Nine Months Ended September 30, 2002 (unaudited)

3

Condensed Consolidated Statements of Cash Flows of Trump Hotels & Casino Resorts, Inc.
for the Nine Months Ended September 30, 2001 and 2002 (unaudited)

4

Condensed Consolidated Balance Sheets of Trump Hotels & Casino Resorts Holdings, L.P. as of
December 31, 2001 and September 30, 2002 (unaudited)

5

Condensed Consolidated Statements of Operations of Trump Hotels & Casino Resorts Holdings, L.P.
for the Three and Nine Months Ended September 30, 2001 and 2002 (unaudited)

6

Condensed Consolidated Statement of Partners’ Capital of Trump Hotels & Casino Resorts Holdings,
L.P.  for the Nine Months Ended September 30, 2002 (unaudited)

7

Condensed Consolidated Statements of Cash Flows of Trump Hotels & Casino Resorts Holdings, L.P.
for the Nine Months Ended September 30, 2001 and 2002 (unaudited)

8

Notes to Condensed Consolidated Financial Statements of Trump Hotels & Casino Resorts, Inc.,
Trump Hotels & Casino Resorts Holdings, L.P. and Trump Hotels & Casino Resorts Funding, Inc.  (unaudited)

9

ITEM 2  –    Management’s Discussion and Analysis of Financial Condition and Results of Operations

14

ITEM 3  –    Quantitative and Qualitative Disclosures About Market Risk

24

ITEM 4  –    Controls and Procedures

24

PART II --  OTHER INFORMATION

ITEM 1  –    Legal Proceedings

25

ITEM 2  –    Changes in Securities and Use of Proceeds

25

ITEM 3  –    Defaults Upon Senior Securities

25

ITEM 4  –    Submission of Matters to a Vote of Security Holders

25

ITEM 5  –    Other Information

25

ITEM 6  –    Exhibits and Reports on Form 8-K

26

SIGNATURES

Signature  –  Trump Hotels & Casino Resorts, Inc.

27

Signature –   Trump Hotels & Casino Resorts Holdings, L.P.

27

Signature –   Trump Hotels & Casino Resorts Funding, Inc.

27

CERTIFICATIONS

28-33

EXHIBIT INDEX

34

December 31,
2001

September 30,
2002

(unaudited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

119,173

$

177,095

Receivables, net

47,328

40,184

Inventories

11,658

11,547

Advances to affiliates, net

—  

40

Prepaid expenses and other current assets

9,120

13,716

Total Current Assets

187,279

242,582

INVESTMENT IN BUFFINGTON HARBOR, L.L.C.

33,889

32,108

INVESTMENT IN TRUMP’S CASTLE PIK NOTES

105,940

119,293

PROPERTY AND EQUIPMENT, NET

1,797,487

1,785,436

DEFERRED BOND AND LOAN ISSUANCE COSTS, NET

21,129

15,423

OTHER ASSETS (Note 3)

73,727

70,601

Total Assets

$

2,219,451

$

2,265,443

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:

Current maturities of long-term debt

$

20,218

$

21,223

Accounts payable and accrued expenses (Note 7)

144,042

130,092

Due to affiliates, net

17

—  

Accrued interest payable

38,580

76,964

Total Current Liabilities

202,857

228,279

LONG-TERM DEBT, net of current maturities (Note 9)

1,881,636

1,894,441

OTHER LONG-TERM LIABILITIES

33,191

33,177

Total Liabilities

2,117,684

2,155,897

MINORITY INTEREST

12,167

15,012

STOCKHOLDERS’ EQUITY:

Common Stock, $.01 par value, 75,000,000 shares authorized, 24,206,756 issued; 22,010,027 outstanding

242

242

Class B Common Stock, $.01 par value, 1,000 shares authorized, issued and outstanding

—  

—  

Additional Paid in Capital

455,645

455,645

Accumulated Deficit

(345,850

)

(340,559

)

Accumulated Other Comprehensive Loss

(237

)

(594

)

Less treasury stock at cost, 2,196,729 shares

(20,200

)

(20,200

)

Total Stockholders’ Equity

89,600

94,534

Total Liabilities and Stockholders’ Equity

$

2,219,451

$

2,265,443

Three Months Ended
September 30,

Nine Months Ended
September 30,

2001

2002

2001

2002

REVENUES:

Gaming

$

343,237

$

353,042

$

945,383

$

983,429

Rooms

23,025

22,636

61,962

62,402

Food and Beverage

36,461

36,077

99,849

98,608

Other

12,103

13,150

29,094

32,709

Gross Revenues

414,826

424,905

1,136,288

1,177,148

Less -- Promotional allowances (Note 4)

87,442

82,310

240,216

231,192

Net Revenues

327,384

342,595

896,072

945,956

COSTS AND EXPENSES:

Gaming (Note 4)

153,140

153,096

446,432

440,927

Rooms

7,643

7,863

23,001

23,950

Food and Beverage

12,755

12,801

33,919

35,485

General and Administrative

66,300

71,490

198,099

201,599

Depreciation and Amortization

17,367

21,765

54,887

61,583

Debt Renegotiation Costs (Note 5)

—  

6

—  

3,070

257,205

267,021

756,338

766,614

Income from operations

70,179

75,574

139,734

179,342

NON-OPERATING INCOME AND (EXPENSES):

Interest income

720

405

2,820

1,499

Interest expense

(55,242

)

(57,173

)

(164,529

)

(167,627

)

Other non-operating income (expense), net

(59

)

704

367

650

(54,581

)

(56,064

)

(161,342

)

(165,478

)

Income (Loss) before equity in loss of Buffington Harbor, L.L.C., income taxes, and minority interest

15,598

19,510

(21,608

)