The Trump Taj Mahal is all about to end up being the fifth Atlantic City casino to close its doorways once and for all in 3 years. Its closing will signal end to the Trump casino brand for good.
Union members protest outside the Trump Taj Mahal, which will close its doors on September 4, 2016. Icahn Enterprises says it has lost $100 million on the venture.
In the middle https://rubetting.club of commercial action by members of the Unite Here Local 54 Union, who’ve been picketing the Taj for days, 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 center of Labor Day, which can 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 try to save the Taj.
Icahn stepped in to rescue the casino in 2014, when its previous owners, Trump Entertainment, declared bankruptcy. The billionaire raider that is corporate the bulk of its $286 million debt, which he ended up being prepared to convert into equity.
Icahn additionally said he had been willing to invest $100 million in the property, if, and just if, he were granted certain concessions by 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 and also the casino employees’ union.