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DONALD J. TRUMP AND TRUMP PLAZA HOTEL AND CASINO ANNOUNCE PLANS FOR PENTHOUSE/HOLIDAY INN PROJECT

 ATLANTIC CITY, N.J., June 22 /PRNewswire/ -- Trump Plaza Hotel and Casino will complete a $42 million demolition and renovation project over a three-year period at the Penthouse/Holiday Inn property located adjacent to Trump Plaza on the Boardwalk, announced Donald J. Trump at a press conference today.
 "The Penthouse property has long stood as a rusting steel super- structure and has been used as an example of failure in Atlantic City for many years," said Trump. "This demolition and renovation marks the beginning of major changes for the city and will create a more dynamic facility for Trump Plaza."
 A recent $385 million refinancing package approved by the Casino Control Commission allows Trump Plaza to demolish Atlantic City's major eyesore, the Penthouse property. With completion slated for April 1996, demolition of the steel structure that once was slated to be the Penthouse property will begin immediately and will be completed by April 1994. At that site, a park and recreation area will be built that will include landscaping, fountains and seating areas.
 By April 1996, 361 rooms and suites, additional meeting and convention space and an additional 30,000 square feet of casino space will be completed in conjunction with the opening of Atlantic City's new convention center. In addition, 17,000 square feet of retail space, located on the Boardwalk, will be remodeled and refurbished.
 /delval/
 -0- 6/22/93
 /CONTACT: Maureen Siman or Beth Marshall of Trump Plaza Hotel and Casino, 609-441-6960/


CO: Trump Plaza Hotel and Casino ST: New Jersey IN: LEI SU:

MK-MP -- PH004 -- 4503 06/22/93 11:01 EDT
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Publication:PR Newswire
Date:Jun 22, 1993
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