The Trump Taj Mahal is mostly about to end up being the fifth Atlantic City casino to shut its doorways for good in 3 years. Its closure will signal a final end towards the Trump casino brand once and for all.
Union members protest outside the Trump Taj Mahal, which will close its doors on 4, 2016 september. Icahn Enterprises says it has lost $100 million on the venture.
In the midst of industrial action by members of the Unite Here Local 54 Union, who’ve been picketing the Taj for months, investor Carl Icahn has abadndoned the casino that is stricken will shutter it permanently on September 4.
That closure date strikes right in the exact middle of Labor Day, that will be a wild coincidence, or it might be a deliberate and final insult to the union, which Icahn blames for derailing his last-ditch try to save your self the Taj.
Icahn stepped in to rescue the casino in 2014, when its owners that are previous Trump Entertainment, declared bankruptcy. The billionaire raider that is corporate the bulk of its $286 million debt, which he had been ready to convert into equity.
Icahn additionally said he was ready to invest $100 million in the property, if, and only if, he were granted concessions that are certain the town. These included the cessation that is temporary of pension and healthcare advantages, which have get to be the focus of the squabble between Icahn Enterprises and the casino empl Læs videre “After Long Union Fight, Trump Taj Mahal Ironically Closing on Labor Weekend day”