Exhibit 10.20

LETTER AGREEMENT

This LETTER AGREEMENT (this “Agreement”) is entered into as of February 12, 2004, between Trump Atlantic City Associates, a New Jersey general partnership (“TAC”) and DLJ Merchant Banking Partners III, L.P., a Delaware limited partnership (“DLJMB”).

WHEREAS, on January 21, 2004, Trump Hotels & Casino Resorts, Inc., a Delaware corporation (the “Company”) and DLJMB entered into an Exclusivity Agreement (the “Exclusivity Agreement”) setting forth certain matters related to a possible transaction pursuant to which DLJMB would make a substantial equity investment in the Company in connection with a restructuring of the debt securities of the Company’s subsidiaries and its controlled affiliates (the “Transaction”), which agreement remains in full force and effect;

WHEREAS, the Company has advised DLJMB that it has determined that it will publicly disclose the fact that it has entered into the Exclusivity Agreement with DLJMB and is in active negotiations with respect to the Transaction, as described in the term sheet being discussed by the Company and DLJMB;

WHEREAS, the Exclusivity Agreement provides that DLJMB may terminate such discussions with the Company with respect to the Transaction if such a disclosure is made without its consent;

WHEREAS, DLJMB is concerned about the risks attendant to negotiating the Transaction in a public forum, the reputational issues associated with the possible failure to consummate the Transaction, and the uncertainties associated with accomplishing the restructuring of the Company’s subsidiaries’ and its controlled affiliates’ debt as well as the significant time, effort and expense which needs to be devoted to the project;

WHEREAS, DLJMB nonetheless remains interested in the Transaction;

WHEREAS, TAC has a substantial interest in the Transaction being consummated and has determined that entering into this Agreement is necessary in order to assure DLJMB’s continued pursuit of the Transaction;

WHEREAS, in light of the potential “stalking horse” role which may be played by DLJMB and TAC’s desire to consummate the Transaction, TAC has determined to provide some certainty to DLJMB in connection with the significant time, effort and expense which DLJMB will continue to expend in order to consummate the Transaction; and

WHEREAS, the Board of Directors of TAC has determined that it is in the best interests of TAC and its various constituencies for TAC to enter into this Agreement.

NOW, THEREFORE, in cons