AMENDMENT TO SETTLEMENT AGREEMENT

THIS SETTLEMENT AGREEMENT AMENDMENT (“Amendment”) is entered into as of the 17th day of October 2012, between and among Trump Marina Associates, LLC, Trump Plaza Associates, LLC, Trump Taj Mahal Associates, LLC (hereinafter, collectively “Trump”), and the City of Atlantic City (hereinafter “City”), a municipal corporation of the State of New Jersey in the County of Atlantic (hereinafter collectively referred to as the “Parties”).

A.     Trump, the City and Golden Nugget Atlantic City, LLC entered into that certain Settlement Agreement dated as of June 13, 2012 (the “Settlement Agreement”).

B.    Pursuant to the Settlement Agreement, Trump is to receive $54 million in tax credits (the “Tax Credits”) to be applied over five years as more specifically provided therein.

C.    Subject to obtaining all requisite approvals and consents (together, the “Approvals”), the City intends to issue tax appeal refunding bonds and/or notes (the “Bond Issuance”) in amount sufficient to pay to Trump from the proceeds therefrom, among other things, the Refund (as defined below).

D.    The Parties desire to amend the Settlement Agreement in accordance with Paragraph 22 of the Settlement Agreement to provide that in the event that the City completes the Bond Issuance and receives the proceeds therefrom, in lieu of receiving the Tax Credits, the City will pay to Trump, and Trump will accept, the Refund as set forth herein.

NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:

1.Recitals. The recitals set forth above are incorporated herein by reference.

2.Amendment to Settlement Agreement.

3.    Effect of Amendment. Except as otherwise provided herein, the terms and provisions contained in the Settlement Agreement shall remain unchanged and in full force and effect.

4.    Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall be considered one and the same agreement; and

IN WITNESS WHEREOF, each of the Parties hereto, intending to be legally bound hereby, has caused their duly authorized representatives to execute this Amendment as of the date set forth above.

By:    /s/ DAVID R. HUGHES                Date:         10/1/12         

David R. Hughes, Chief Financial Officer

Trump Entertainment Resorts, Inc.

and Authorized Representative of Trump

By:    /s/ STEVEN SCHEINTHAL            Date:         9/28/12            

Steven Scheinthal, Vice President and

Authorized Representative of Golden Nugget Atlantic City, LLC

By:     /s/ MICHAEL D. SKLAR                Date:         10/2/12         

Michael D. Sklar, Esq.

Rhonda Williams

Ronald Cash

Approved as to form:

Braun Littlefield, Esq.

Attorneys for City

By:     /s/ JAMES L. ESPOSITO                Date:         10/17/12         

James L. Esposito, Esq.