The Trump Taj Mahal is all about to end up being the 5th Atlantic City casino to shut its doors for good in 3 years. Its closing will signal end towards the Trump casino brand forever.
Union members protest outside the Trump Taj Mahal, which will close its doorways on 4, 2016 september. Icahn Enterprises says it has lost $100 million on the venture.
In the midst of commercial action by members of the Unite Here Local 54 Union, who have been picketing the Taj for weeks, investor Carl Icahn has given up on the stricken casino and will shutter it permanently on September 4.
That closure date hits right in the middle of Labor Day, that will be a coincidence that is wild or it could be a deliberate and final insult to the union, which Icahn blames for derailing his last-ditch attempt to conserve the Taj.
Icahn stepped in to rescue the casino in 2014, when its previous owners, Trump Entertainment, declared bankruptcy. The billionaire corporate raider owned the majority of its $286 million financial obligation, which he ended up being prepared to convert into equity.
Icahn additionally said he had been ready to invest $100 million into the home, if, and only if, he were granted concessions that are certain the city. These included the cessation that is temporary of pension and healthcare advantages, which may have end up being the focus of the squabble between Icahn Enterprises together with cas Continue reading