UPDATE 1-Trump Entertainment reports quarterly loss

* Net loss of $4.39 shr vs profit of 21 cents

* Net revenue $198.3 mln vs $216.6 mln

NEW YORK, Nov 7 (Reuters) - Casino operator Trump Entertainment Resorts Inc TRMP.O reported a quarterly loss as the economic slowdown continued to hurt the gambling industry.

The company posted net loss of $139.1 million or $4.39 per share, compared with a profit of $6.6 million or 21 cents per share, in the same period a year ago.

Net revenue fell to $198.3 million from $216.6 million.

The company said it had $88.8 million of cash and cash equivalents as of Sept. 30. (Reporting by Mark McSherry; Editing by Steve Orlofsky)