Carl Icahn wasn’t 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 closing the resort.
Members for the Unite Here regional 54 union walked from the job on July 1 in protest of health and pension benefits. Following 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 two sides could get together and give a wide berth to Atlantic City’s 5th casino closure since 2014. But on 2, Icahn made his move official september.
In newly released documents from the New Jersey Division of Gaming Enforcement (DGE), Icahn’s company states, ‘As results of the ongoing Local 54 attack and the vast amounts so it has cost the Taj Mahal, Trump Entertainment Resorts (TER) no longer sees a road 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 will be transferred to a new casino or be saved elsewhere.
Casino chips must be properly disposed also.
The Trump Taj Mahal will continue arrival that is accepting until Saturday, October 8. All guests must checkout of the resort by 12 noon the day that is following.
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 provides will all be rendered null and void on October 10.
The Trump Taj Mahal was built in 1990 at a high price of $1 billion. Billed by Donald Trump as the ‘eighth wonder of the world,’ the now-GOP presidential candidate sold his Atlantic City interests in 2009 amid his casino organization’s bankruptcy and restructuring.
Trump sold TER to a hedge investment in 2009. After TER once again fell into bankruptcy, Icahn bought the video gaming and hospitality business in 2016.
A bankruptcy court permitted 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 renovation of their medical and pension benefits, Local 54 striking bartenders, wait staff, cooks, and housekeeping service members also demanded increased hourly wages.
Icahn said it absolutely wasn’t feasible. That angered union officials whom noticed that Icahn is worth tens of bucks.
‘ For a few million bucks, he could have had labor comfort and a work that is content,’ Unite Here Local 54 President Bob McDevitt stated. ‘ But alternatively he’d rather slam the home shut.’
Icahn states he appears to lose $100 million in 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 could be for McDevitt to go out of, and I’d happily buy him a one-way air plane solution and spend his moving costs.’
RAWA Supporters Chaffetz and Adelson Find Common Ground in Politics and Internet Security
Utah Representative Jason Chaffetz (R) and Las vegas, nevada Sands CEO Sheldon Adelson (also definitely a Republican) involve some tissue that is connective it comes with their views on who they wish becomes the next US president. Each might be focused in slightly different guidelines, but their six examples of separation whenever 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 regarding the grounds that the agency needs to turn over all documents associated with its investigation 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 the billionaire that is fellow campaign efforts. While Chaffetz’ support may be slightly more reluctant, their unbridled hatred for Democratic opponent Hillary Clinton has forced him to back the casino mogul that is former.
‘. . . [it’s a] no-brainer for me personally,’ said Chaffetz back May, also before Trump’s nomination was sealed up. ‘Hillary Clinton as president is definitely a scary scenario, so I do believe the nation will see it the same way. [Trump] wasn’t my first choice, but my number 1 goal is always to perhaps not allow Hillary Clinton to become the next president of america.’
Home of Guards
To that final end, Chaffetz has no intention of letting Clinton’s ongoing email debacle fade away.
During the 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 your committee relating to the agency’s investigation of Hillary Clinton’s personal email server. When Herring said he could perhaps not make that commitment, Chaffetz issued a subpoena immediately.
‘I’m going to issue a subpoena, and I also’m going to accomplish it at this time,’ Chaffetz, who chairs the committee, said. ‘I’ve signed this subpoena . . . we would like file that is full. You can accept service on behalf of the FBI?’
‘Certainly,’ Herring answered.
‘You are hereby served,’ Chaffetz declared.
Once known in the video gaming community just as billionaire casino bigwig Adelson’s congressional RAWA puppet, Chaffetz has swiftly become enemy no. 1 of the FBI. The Oversight’s meeting this week, titled ‘Classifications and Redactions in FBI’s Investigative File,’ was for federal agencies to explain why their reports to Congress came with significant redactions and omissions of evidence.
The Utah congressman introduced the Restoration of America’s Wire Act (RAWA), the gambling that is anti-online, 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 let it die, having vowed to ‘spend whatever it takes’ to view it pass.
The reality, and Everything But the Truth
Chaffetz believes Clinton might have put America in danger by hosting classified information on unsecured email servers.
Ironically, one of RAWA’s main arguments is the fact that the 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 as US Attorney General Loretta Lynch, on what the FBI found the conclusion that they would forego recommending criminal charges against the Democratic candidate.
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 describing that the FBI discovered no intent on Clinton’s part to provide statements that are false. Chaffetz responded, ‘It’s reasonable to imagine that the secretary of state would get classified information every minute! She’s perhaps not the mind of seafood and wildlife!’
Lynch showed up before 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 united states Attorney General.
Not Permitting Up
One of the things Chaffetz and other anti-online gambling proponent Adelson share is a determination to dig in and maybe not release.
Worth an estimated $30 billion and now 83-years-old, Adelson is showing no signs of slowing straight down. The vegas Sands founder continues to stress Chaffetz into the homely house, and Sen. Lindsey Graham (R-South Carolina) in the Senate, to push through RAWA.
Adelson is busier than your typical citizen that is senior. His company started its $2.5 billion resort that is parisian Macau on Tuesday, and he’s additionally earnestly attempting to bring expert football to Las Vegas. 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 people that are poor’ Adelson told Yahoo Finance recently. ‘I can earn money in an honest way, as being a form of entertainment. But why do it is needed by me, the fantasy recreations? I believe it is immoral.’
NCAA Moves Seven Championships From North Carolina Over ‘Civil Rights Protections’
North Carolina’s position on bathrooms has flushed seven NCAA championship that is national 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 moving seven championship that is national from new york as a result of the state’s law that mandates individuals use public restroom facilities that correspond with the sex that is noted on their birth certificates.
Vermont’s House Bill 2, commonly known as the ‘Public places Privacy & Security Act,’ was passed in the state legislature in March. The statute prohibits gay, bisexual, transgender, genderqueer, and intersex individuals from making use of the gender bathroom they most closely identify with.
The law has been 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 approximately a lot more than the opportunity to participate in college recreations, or even compete for championships,’ 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 experience that is best easy for college athletes, fans and everyone engaging within our championships.’
Hosting national championships is big business for state and regional economies. The sporting contests can also boost revenues at casinos.
Glendale, Arizona, estimated its hosting of the NCAA College Football National Championship in January generated a economic effect of $300 million and 60,000 hotel visitor room evenings. The Desert Diamond West Valley Casino launched just weeks ahead of the game that is big just take benefit of the influx of tourists to the Phoenix area.
Though none of the canceled events carry the marquee of hosting the NCAA College Football Playoff National Championship, the economic loss is still considerable.
The seven NCAA championship activities going 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’s time to repeal HB 2. ‘Enough is enough,’ Cooper said in statement. ‘ We have 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 hypocritical and unwarranted.
‘we genuinely look forward to the NCAA merging all males’s and women’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 Method or the Highway
As the NCAA truly has every right to host its competitions wherever it views fit, the organization does present an attitude of moral superiority myfreepokies.com that is criticized by some.
The college sports body that is governing 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 fantasy sports (DFS).
DraftKings and FanDuel, the two DFS that are leading in the US, removed college contests from their platforms in March.
The NCAA is a not-for-profit organization, meaning it does not pay taxes on most of its income. In 2015, the NCAA generated about $1 billion in revenue.
Players have advocated for a few sort of compensation in the last few years, but to date the NCAA has won those lawsuits also.