Carl Icahn was not joking about closing the Trump Taj Mahal casino in Atlantic City.
Icahn will be chalking up the ‘investment’ as a $100 million loss.
Thousands of jobs will be lost and the livelihoods of many families will be thrust into jeopardy.
It’s strike three for the Local 54 union at the Trump Taj Mahal, as Carl Icahn is moving forward with shutting the resort.
Members regarding the Unite Here regional 54 union walked from the job on July 1 in protest of wellness and retirement benefits. After a month of much picketing but negotiating that is little Icahn announced his plans to shutter the home this fall.
There was some hope that the 2 sides could come together and steer clear of Atlantic City’s fifth casino closure since 2014. But on 2, Icahn made his move official september.
In newly released paperwork from the latest Jersey Division of Gaming Enforcement (DGE), Icahn’s company states, ‘As result of the ongoing neighborhood 54 hit and the huge amount of money that it has cost the Taj Mahal, Trump Entertainment Resorts (TER) no longer sees a path to profitability.’
DGE regulations require casinos to detail their closing plans. Owners must explain how liquor that is unused be discarded or sold, and whether the gambling machines are utilized in a new casino or be saved elsewhere.
Casino chips must be properly disposed also.
The Trump Taj Mahal will stay accepting arrival reservations until Saturday, October 8. All guests must checkout of the hotel by 12 noon the following day.
The casino and resort will formally close at 5:59 am on October 10 monday.
Taj Gift cards, credit, comp dollars, vouchers, and other promotional offers will all be rendered null and void on October 10.
The Trump Taj Mahal was built in 1990 at a cost of $1 billion. Billed by Donald Trump as the ‘eighth wonder of the world,’ the now-GOP presidential prospect offered their Atlantic City interests in ’09 amid their casino organization’s bankruptcy and restructuring.
Trump sold TER up to a hedge investment in 2009. After TER once again fell into bankruptcy, Icahn purchased the hospitality and gaming business in 2016.
A bankruptcy court allowed Icahn to cancel certain benefits for Taj workers when he purchased the casino that is bankrupt in March. He told the union that he required more time before restoring benefits to their previous levels.
In addition to the renovation of the medical and pension advantages, regional 54 bartenders that are striking wait staff, cooks, and housekeeping service members also demanded increased hourly wages.
Icahn stated it had beenn’t feasible. That angered union officials who pointed out that Icahn may be worth tens of dollars.
‘ For the few million bucks, he could have had labor peace and a content work force,’ Unite Here Local 54 President Bob McDevitt said. ‘ But instead he’d rather slam the home shut.’
Icahn states he stands to lose $100 million in the Trump Taj Mahal.
‘McDevitt has proven repeatedly that he doesn’t have regard for the truth,’ Icahn stated in late August. ‘ The best thing that could happen for Atlantic City is for McDevitt to leave, and I also’d joyfully buy him a one-way plane admission and spend his moving costs.’
RAWA Supporters Chaffetz and Adelson Find Common Ground in Politics and Web Security
Utah Representative Jason Chaffetz (R) and Las Vegas Sands CEO Sheldon Adelson (also certainly a Republican) involve some connective muscle whenever it comes to their views on who they hope becomes the next United States president. Each might be focused in slightly different guidelines, but their six examples of separation when it comes down to their eyesight for America going forward makes them political bedfellows nonetheless.
The FBI got served this week by Rep. Jason Chaffetz of Utah on the grounds that the agency needs to turn over all documents associated with its research of Hillary Clinton’s emails. (Image: Committee on Oversight & Government Reform)
Adelson has outright come down in support of Donald Trump, donating a reputed $100 million via a super PAC to your fellow billionaire’s campaign efforts. While Chaffetz’ support may be somewhat more reluctant, their unbridled hatred for Democratic opponent Hillary Clinton has pressed him to straight back the casino mogul that is former.
‘. . . [it’s a] no-brainer for me,’ said Chaffetz back in May, also before Trump’s nomination was sealed up. ‘Hillary Clinton as president is definitely a scary scenario, so I do believe the country will see it the way that is same. [Trump] wasn’t my first choice, but my # 1 goal would be to perhaps not allow Hillary Clinton to become the next president of america.’
House of Guards
To that end, Chaffetz has no intention of letting Clinton’s ongoing e-mail debacle fade away.
During your House Committee on Oversight and Government Reform’s hearing this week, Chaffetz asked FBI legislative liaison Jason Herring if the FBI will turn over all documents to the committee relating to the agency’s research of Hillary Clinton’s individual email server. When Herring stated he could perhaps not make that commitment, Chaffetz issued a subpoena right then and there.
‘I’m going to issue a subpoena, and I also’m going to accomplish it today,’ Chaffetz, who chairs the committee, said. ‘I’ve signed this subpoena . . . we would such as the full file. You can accept service on behalf of the FBI?’
‘Certainly,’ Herring answered.
‘You are hereby served,’ Chaffetz declared.
As soon as known within the video gaming community merely as billionaire casino bigwig Adelson’s congressional RAWA puppet, Chaffetz has swiftly become enemy no. 1 for the FBI. The Oversight’s meeting this titled ‘Classifications and Redactions in FBI’s Investigative File,’ was for federal agencies to explain why their reports to Congress came with substantial redactions and omissions of evidence week.
The Utah congressman introduced the Restoration of America’s Wire Act (RAWA), the anti-online gambling bill, right back in February of 2015. The measure has largely failed to gain any traction in either branch of Congress, however it’s not likely Adelson will allow it die, having vowed to ‘spend whatever it requires’ to notice it pass.
The facts, and Everything But the Truth
Chaffetz believes Clinton might have put America at risk by hosting classified information on unsecured e-mail servers.
Ironically, one of RAWA’s main arguments is the world wide web cannot be correctly secured or managed, and therefore online casinos cannot adequately protect against underage gambling, money laundering, and other activities that are illegal.
In July, Chaffetz’ Oversight Committee grilled FBI Director James Comey, as well that they would forego recommending criminal charges against the Democratic candidate as maquinas tragamonedas dolphin treasure slots US Attorney General Loretta Lynch, on how the FBI came to the conclusion.
Chaffetz described himself at that time being a ‘kid in a candy store’ while interrogating Comey. He asked why Clinton, whom testified under oath it found evidence to the contrary that she didn’t send or receive classified information on her private server, wasn’t charged when the FBI admitted.
Comey deflected by explaining that the FBI discovered no intent on Clinton’s part to provide statements that are false. Chaffetz responded, ‘It’s reasonable to believe that the secretary of state would get classified information every moment! She actually is maybe not the relative head of seafood and wildlife!’
Lynch showed up prior to the committee the following week, but provided insight that is little further.
‘the lack of clarity you give to this physical body is pretty stunning,’ Chaffetz told the US Attorney General.
Not Permitting Up
One of the things Chaffetz and fellow anti-online gambling proponent Adelson share is a determination to dig in and maybe not let it go.
Worth an estimated $30 billion and now 83-years-old, Adelson is showing no indications of slowing straight down. The Las vegas, nevada Sands founder continues to pressure Chaffetz into the homely house, and Sen. Lindsey Graham (R-South Carolina) into the Senate, to push through RAWA.
Adelson is busier than your typical citizen that is senior. Their company opened its $2.5 billion resort that is parisian Macau on Tuesday, and he’s additionally actively working to bring professional football to Las vegas, nevada. But he isn’t nearly as enthusiastic about the prospect of daily fantasy sports (DFS) online while he believes it’s time for the NFL to embrace sports betting.
‘I think [DFS] exploits poor people,’ Adelson told Yahoo Finance recently. ‘I can make money within an way that is honest as being a kind of activity. But why do it is needed by me, the fantasy recreations? I do believe it is immoral.’
NCAA Moves Seven Championships From North Carolina Over ‘Civil Rights Protections’
North Carolina’s place on bathrooms has flushed seven NCAA national championship events out of the state. NCAA President Mark Emmert says the competitions will be moved to more ‘respectful’ environments. (Image: LM Otero/Associated Press)
The NCAA is going seven nationwide championship occasions from North Carolina as a result of state’s legislation that mandates individuals utilize public restroom facilities that correspond with the sex that’s listed on their birth certificates.
North Carolina’s House Bill 2, popularly known as the ‘Public Facilities Privacy & Security Act,’ was passed in the state legislature in March. The statute prohibits gay, bisexual, transgender, genderqueer, and intersex individuals from utilizing the gender bathroom they most closely identify with.
The legislation was highly controversial. The Department of Justice sued North Carolina Governor Pat McCrory (R) in May on grounds that HB2 violates multiple federal laws including the Civil Rights Act.
‘Fairness is mostly about more than the opportunity to take part in college activities, or compete for championships even,’ NCAA President Mark Emmert said in a statement. ‘ We believe in providing a safe and respectful environment at our events and are committed to providing the best experience easy for college athletes, fans and everyone engaging within our championships.’
Hosting national championships is big business for state and local economies. The sporting competitions can also boost revenues at casinos.
Glendale, Arizona, estimated its web hosting of the NCAA university Football National Championship in January generated an impact that is economic of300 million and 60,000 hotel visitor space evenings. The Desert Diamond West Valley Casino exposed just weeks prior to the big game to just take advantageous asset of the influx of tourists towards the Phoenix area.
The financial loss is still considerable though none of the canceled events carry the marquee of hosting the NCAA College Football Playoff National Championship.
The seven NCAA championship occasions moving are:
2016 Division I Women’s Soccer Championship
2017 Division III Men’s and Women’s Tennis Championships
2017 Division I Women’s Lacrosse Championship
2017 Division II Baseball Championship
2016 Division I Men’s Basketball Championship, first/second rounds
2016 Division III Men’s and Ladies’ Soccer Championships
2017 Division I Ladies’ Golf Championship
North Carolina Attorney General Roy Cooper states it is time to repeal HB 2. ‘Enough is enough,’ Cooper said in statement. ‘ We have to repeal this law and get our state back on the right track.
But North Carolina Republic Party spokeswoman Kami Mueller said the NCAA’s outrage is hypocritical and unwarranted.
‘I genuinely enjoy the NCAA merging all guys’s and females’s teams together as singular, unified, unisex groups,’ Mueller stated. ‘you have a women’s team? if you’re unwilling to have women’s bathrooms and locker rooms, how do’
NCAA’s Method or the Highway
Even though the NCAA certainly has every right to host its competitions wherever it views fit, the organization does present an attitude of moral superiority that is criticized by some.
The college sports governing body is adamantly against sports betting and recently won a lawsuit against New Jersey that prevents the state from legalizing gambling on athletics. The NCAA also opposes daily dream sports (DFS).
DraftKings and FanDuel, the two DFS that are leading in the US, removed university contests from their platforms in March.
The NCAA is an organization that is not-for-profit meaning it does not pay fees on many of its income. In 2015, the NCAA created about $1 billion in revenue.
Players have actually advocated for some sort of compensation in the last few years, but to date the NCAA has won those lawsuits too.