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 dancing with closing the resort.
Members for the Unite Here Local 54 union walked from the job on 1 in protest of health and pension benefits july. After 30 days of much picketing but little negotiating, Icahn announced their plans to shutter the house this fall.
There was some hope that the two sides could come together and steer clear of Atlantic City’s 5th casino closure since 2014. But on 2, Icahn made his move official september.
In newly released paperwork from the New Jersey Division of Gaming Enforcement (DGE), Icahn’s company states, ‘As a total consequence of the ongoing Local 54 attack and the vast amounts it has cost the Taj Mahal, Trump Entertainment Resorts (TER) no longer sees a way to profitability.’
DGE regulations require casinos to detail their closing plans. Owners must explain exactly how unused alcohol will be discarded or sold, and whether the gambling machines are going to be utilized in a new casino or be kept elsewhere.
Casino chips must be properly disposed.
The Trump Taj Mahal will continue accepting arrival reservations until Saturday, October 8. All guests must checkout of the hotel by 12 noon the day that is following.
The casino and resort will formally shut at 5:59 am on Monday, October 10.
Taj Gift cards, credit, comp bucks, 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 worldwide,’ the now-GOP candidate that is presidential his Atlantic City interests during 2009 amid their casino business’s bankruptcy and restructuring.
Trump sold TER to a hedge fund in 2009. After TER yet again fell into bankruptcy, Icahn bought the gaming and hospitality business in 2016.
A bankruptcy court allowed Icahn to cancel specific benefits for Taj workers as he purchased the casino that is bankrupt in March. He told the union that he needed more time before restoring benefits to their levels that are previous.
In addition to the restoration of the medical and pension benefits, neighborhood 54 striking bartenders, wait staff, chefs, and housekeeping service people also demanded increased hourly wages.
Icahn said it had beenn’t feasible. That angered union officials who pointed out that Icahn is worth tens of dollars.
‘ For the few million bucks, he could have had labor peace and a work that is content,’ Unite Here Local 54 President Bob McDevitt stated. ‘ But instead he’d rather slam the hinged door shut.’
Icahn claims he appears to lose $100 million on the Trump Taj Mahal.
‘McDevitt august has proven over and over that he has no regard for the truth,’ Icahn said in late. ‘ The best thing that could happen for Atlantic City is for McDevitt to go out of, and I’d happily buy him a one-way plane admission and pay his moving costs.’
RAWA Supporters Chaffetz and Adelson Find Common Ground in Politics and Internet Security
Utah Representative Jason Chaffetz (R) and Las Vegas Sands CEO Sheldon Adelson (also certainly a Republican) possess some connective muscle whenever it comes with their views on who they wish becomes the next United States president. Each may be focused in slightly directions that are different but their six quantities of separation when it comes down to their eyesight for America going forward makes them governmental bedfellows nonetheless.
The FBI got served this week by Rep. Jason Chaffetz of Utah on the grounds that the agency needs to turn all documents over associated with its research of Hillary Clinton’s emails. (Image: Committee on Oversight & Government Reform)
Adelson has outright come away to get Donald Trump, donating a reputed $100 million with a super PAC to your billionaire that is fellow campaign efforts. While Chaffetz’ support may be somewhat more reluctant, their unbridled hatred for Democratic opponent Hillary Clinton has forced him to back the previous casino mogul.
‘. . . [it’s a] no-brainer for me,’ said Chaffetz back in May, even before Trump’s nomination was sealed up. ‘Hillary Clinton as president is definitely a scary scenario, so I think the country will see it the way that is same. [Trump] wasn’t my choice that is first my number 1 goal is not allow Hillary Clinton to become the next president of america.’
Home of Guards
Compared to that final end, Chaffetz has no intention of letting Clinton’s ongoing email 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 all documents over to the committee relating pokies aristocrat free dolphin treasure slots to the agency’s research of Hillary Clinton’s personal email server. When Herring said he could maybe not make that commitment, Chaffetz issued a subpoena immediately.
‘I’m going to issue a subpoena, and I also’m going to complete it today,’ Chaffetz, who chairs the committee, said. ‘I’ve signed this subpoena . . . we would just like the full file. You can accept service on behalf of the FBI?’
‘Certainly,’ Herring answered.
‘You are hereby served,’ Chaffetz declared.
When known within the gaming community just as billionaire casino bigwig Adelson’s congressional RAWA puppet, Chaffetz has swiftly become enemy no. 1 of this 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 gambling that is anti-online, right back in February of 2015. The measure has largely failed to gain any traction in either branch of Congress, however it’s unlikely Adelson will allow it to die, having vowed to ‘spend whatever it takes’ to see it pass.
The facts, and Everything But the Truth
Chaffetz believes Clinton might have put America at an increased risk by hosting classified information on unsecured email servers.
Ironically, one of RAWA’s main arguments is the web cannot be properly guaranteed 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 as US Attorney General Loretta Lynch, on what the FBI stumbled on the conclusion which they would forego recommending criminal charges against the Democratic candidate.
Chaffetz described himself at that right time being a ‘kid in a candy store’ while interrogating Comey. He asked why Clinton, whom testified under oath that she don’t send or receive classified information on her personal server, wasn’t charged when the FBI admitted it found evidence to your contrary.
Comey deflected by explaining that the FBI found no intent on Clinton’s part to provide false statements. Chaffetz responded, ‘It’s reasonable to consider that the secretary of state would get classified information every moment! She’s perhaps not the mind of fish and wildlife!’
Lynch appeared prior to the committee the following week, but provided little further insight.
‘the lack of clarity you give to this physical body is pretty stunning,’ Chaffetz told the usa Attorney General.
Not Letting Up
One of the things Chaffetz and other anti-online gambling proponent Adelson share is a dedication to dig in and not let it go.
Worth an estimated $30 billion and now 83-years-old, Adelson is showing no indications of slowing down. The nevada Sands founder continues to pressure Chaffetz into the House, and Sen. Lindsey Graham (R-South Carolina) in the Senate, to push through RAWA.
Adelson is busier than your typical senior citizen. Their company started its $2.5 billion resort that is parisian Macau on Tuesday, and he’s also actively attempting to bring expert football to vegas. But while he believes it’s time for the NFL to embrace sports wagering, he isn’t nearly as enthusiastic about the possibility of day-to-day dream sports (DFS) online.
‘I think [DFS] exploits people that are poor’ Adelson told Yahoo Finance recently. ‘I can generate income within an truthful way, being a kind of entertainment. But why do it is needed by me, the fantasy sports? I believe it’s immoral.’
NCAA Moves Seven Championships From North Carolina Over ‘Civil Rights Protections’
North Carolina’s position on bathrooms has flushed seven NCAA national championship events out from 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 national championship occasions from new york as a result of state’s law that mandates people use public restroom facilities that correspond with the sex that is listed on their birth certificates.
New york’s House Bill 2, commonly known as the ‘Public places Privacy & Security Act,’ was passed away in the continuing state legislature in March. The statute prohibits homosexual, bisexual, transgender, genderqueer, and intersex people from using the gender bathroom they many closely identify with.
The legislation is highly controversial. The Department of Justice sued North Carolina Governor Pat McCrory (R) in May on grounds that HB2 violates multiple laws that are federal the Civil Rights Act.
‘Fairness is about significantly more than the opportunity to engage in college sports, or compete for championships even,’ NCAA President Mark Emmert stated in a statement. ‘ We believe in providing a safe and respectful environment at our events and are committed to providing the experience that is best easy for college athletes, fans and everyone participating inside our championships.’
Hosting national championships is big business for state and local economies. The sporting competitions can boost revenues at also 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 resort visitor room evenings. The Desert Diamond West Valley Casino exposed just weeks prior to the game that is big just take advantage 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 Women’s Soccer Championships
2017 Division We Women’s Golf Championship
North Carolina Attorney General Roy Cooper says it is the right time to repeal HB 2. ‘Enough is enough,’ Cooper said in statement. ‘ We need to repeal this law and back get our state on track.
But North Carolina Republic Party spokeswoman Kami Mueller said the NCAA’s outrage is unwarranted and hypocritical.
‘I genuinely anticipate the NCAA merging all guys’s and females’s teams together as singular, unified, unisex groups,’ Mueller said. ‘you have a women’s team? if you’re unwilling to have women’s bathrooms and locker rooms, just how do’
NCAA’s Means or the Highway
Whilst the NCAA certainly has every right to host its competitions wherever it sees fit, an attitude is presented by the organization of moral superiority that is criticized by some.
The college sports governing body is adamantly against sports wagering and recently won a lawsuit against nj-new jersey that prevents the state from legalizing gambling on athletics. The NCAA also opposes fantasy that is daily (DFS).
DraftKings and FanDuel, the two leading DFS companies in the US, removed college 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 produced about $1 billion in revenue.
Players have advocated for some sort of compensation in the last few years, but to date the NCAA has won those lawsuits as well.