James B. Perry, a former chief executive at

Argosy Gaming

( AGY), will take the CEO's reins at

Trump Entertainment Resorts

(DJTE)

.

Donald Trump's casino group, formerly known as Trump Hotels and Casino Resorts, emerged from a prepackaged Chapter 11 restructuring in May.

"My search for a chief executive officer resulted in a highly competitive process in which many outstanding candidates were considered," said Trump, who remains chairman of the company. "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."

Perry retired as Argosy's CEO in 2003 but remained on the company's board.

Trump Entertainment Resorts owns three casinos in Atlantic City, N.J., and a riverboat casino in Gary, Ind.

The company filed for bankruptcy last November, after struggling under the weight of its debt and facing increasing Atlantic City competition from spiffy new competitors such as the Borgata, a joint venture of

Boyd Gaming

(BYD) - Get Report

and

MGM Mirage

(MGM) - Get Report

.

Shares of Trump Entertainment Resorts gained 44 cents, or 3.2%, Wednesday to close at $14.09.