Cramer's 'Mad Money' Recap: Roll the Dice for Trump

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Trump Entertainment (TRMP Quote) is a stock that could be a good trade and a good investment, Jim Cramer told viewers of his "Mad Money" TV show Friday.

The stock, which Cramer first recommended a year ago, is up a "cool 30%," Cramer said. And he expects it to go up even more.

On Nov. 14, the company is going to make a presentation in front of the Philadelphia Gaming Board to open up a slot parlor in Philadelphia, Cramer said.

It should get state approval, but even a favorable public sentiment should send the stock up.

If it does get approval, Trump could "shoot up" $4, he said.

Trump has become a "worthy casino stock," Cramer continued. It has put money back into its casinos by remodeling them, and it recently reported an upside surprise, he said.

Everywhere the casino company remodels, growth is coming back, Cramer said. "Renovations are beginning to attract high-quality players."

In addition, for years Atlantic City, where all the Trump casinos are located, "was a dingy environment," but now the city is starting to turn around.

With Jim Perry, Trump's CEO, putting on a great execution, with the turn in Atlantic City and with the possibility of the Philadelphia casino being built, Trump could be worth at least $32, Cramer said. Trump closed at $22.05 on Friday.