A former Tropicana executive will return to Atlantic City as the new CEO of Trump Entertainment Resorts Inc. James B. Perry will succeed Donald J. Trump, who remains chairman and largest stockholder of the recently reorganized corporation.

"In my search for a chief executive officer resulted in a highly competitive process in which many outstanding candidates were considered," Trump said Wednesday.

"I am happy to select Jim. He is a perfect fit for our company - a company which has a chance to be a truly outstanding one," he continued.

"I look forward to working with him so that it can be brought to new heights," Trump concluded.

Perry worked at the Tropicana in Atlantic City from 1987 to 1996, serving as president and general manager before leaving.

He joined Argosy Gaming Company as president and CEO in 1997. He retired from the riverboat gaming operator in 2003.

"I am honored by the confidence Mr. Trump and the board have placed in me," Perry said.

"I am excited about the opportunity to re-establish the company as a leading casino operator, to continue to strengthen the balance sheet, and to capitalize on the worldwide prominence of the Trump brand," the new CEO said.

Trump Entertainment properties include Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino and Trump Marina Hotel Casino, all in Atlantic City, and the Trump Casino Hotel, a riverboat casino in Gary, Ind.

Shares in Trump Entertainment rose 44 cents, or 3.2 percent, to $14.09 in trading Thursday on the over-the-counter market.