Carl Icahn Awarded Trump Taj Mahal as Battle with Union Continues

Carl Ic<span id="more-10115"></span>ahn Awarded Trump Taj Mahal as Battle with Union Continues

Carl Icahn desires to revitalize the Taj Mahal in Atlantic City and conserve thousands of jobs in the act, but he says it can not be done unless local union workers are ready to compromise. Unhappy union workers, shown here at an early on protest, feel otherwise.

Billionaire Carl Icahn has obtained the Trump Taj Mahal, exchanging $292 million he’s owed for complete ownership of the casino in a deal that ended up being authorized by the New Jersey Casino Control Commission this week.

Icahn says he shall invest another $100 million to revitalize the resort also to keep the Atlantic City landmark solvent.

‘We believe when you pull into the Taj Mahal, it’s dirty, it’s dated, and it requires to be freshened up,’ Trump Entertainment CEO Robert Griffin said associated with the settlement. ‘we feel extremely strongly that the Taj Mahal will do well.’

That are no task that is easy nevertheless, while the north end boardwalk gambling venue continues to operate at a loss, including being $8.7 million in the red for 1st quarter of 2015. The hotel’s 2,010 rooms had been less than 50 % full during the very first three months associated with a drastically lower rate than that of the other seven casino hotels that averaged occupancy levels of around 70 to 85 percent year.

Icahn’t Stand Unions

Icahn is optimistic which he can restore the Taj to its former days of glory. But one key condition the mogul insists on is that neighborhood 54 and also the UNITE HERE unions stop their pursuit of having a court mandate Icahn to reinstate benefits for employees that were terminated by Trump Entertainment during bankruptcy proceedings.

The other Atlantic City casino under his ownership on Wednesday, Icahn told reporters he sees the Taj being reestablished much like he did with the Tropicana.

‘Although neighborhood 54 seems fixated at all costs on damaging the Taj, and risking its closing and the lack of almost 3,000 jobs, we have always been optimistic,’ Icahn said.

Icahn also released a letter to regional 54 Taj employees this week that likens the national UNITE HERE organization to a Ponzi scheme that uses dues to enrich the lives of its leadership at a detrimental cost to its users.

‘It is definitely an fact that is undisputable your union leadership refused to negotiate with the Taj as the losses were mounting and it was pushed into bankruptcy. Your union leadership declined to consider any concession that would have aided keep the Taj afloat, and that’s because your jobs don’t matter to the union leadership,’ Icahn penned.


The once bustling gambling mecca of the coast that is east now home to simply eight total casinos, and Icahn now has control of two, or 25 % of the city’s gaming venues. That means along side Caesars Entertainment, owners of Bally’s, Caesars Atlantic City, and Harrah’s, Icahn has a small monopoly on town where the overall game of Monopoly is situated.

Thought it’s understandable union workers want and need their wellness insurance coverage and pension advantages reinstated, their tactics might be going about any of it into the way that is wrong. This week, Local 54 delivered a letter to Icahn’s midtown Manhattan office by having a list of its demands, along side an apple pie, a dig in reaction to Icahn saying ‘apple pie and roses isn’t what sort of globe works’ previously this year.

Jeb Bush Latest GOP Candidate to Enter Republican Presidential Race

Officially official: After many months of unofficial fundraising, Jeb Bush confirmed his bid for the 2016 GOP nomination today. The son and brother of two past United States presidents is hoping to split up his campaign from their rather famous family name. Type of. (Image: Erik Schelzig/AP)

Jeb Bush joined the ever-expanding crowd of Republican candidates into the 2016 presidential election on Monday, with an announcement at Miami-Dade College in the afternoon. But unlike most of the more than a dozen candidates into the GOP field, Bush will be hoping to operate from a position of strength, as he shall be one associated with favorites for the party’s nomination in the early going regarding the campaign.

‘ In almost any language my message will be a confident one, that we can make the decades just ahead in America the greatest time ever to be alive in this world,’ the latest Bush political dynasty candidate opined, using both English and Spanish to address the live and undoubtedly massive TV audience because I am certain.

Columba Bush, a first-generation Mexican immigrant who married Jeb 41 years back, could prove critical in helping him reach Hispanic voters. (Image: Bill Ingalls/NASA/Getty)

Columba Bush, who has been hitched towards the politician for 41 years and was initially from León, Guanajuato in Mexico, will certainly be a crucial force in a country grappling with immigration and dual-language dilemmas on a daily basis.

In reality, the story goes that Mrs. Bush did not even speak English whenever she married Jeb back in 1974. Her mother had been reportedly a worker that is migrant food server.

Bush may need the help. Although the Florida that is former governor often the best choice in national polls of Republican voters, though that advantage is extremely narrow. In fact, it may be much more accurate to examine Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders as of this stage that is early.

Strong Establishment Candidate

That said, Bush has plenty of advantages that will make their campaign a strong one. For one, he will have no difficulty money that is raising.

One PAC that is super that backing him had hoped to boost $100 million by the finish of June, even though they’ll almost certainly come up short of this goal, it’s clear there will be lots of funding for the Bush war chest.

He’ll have numerous endorsements from Republican establishment figures, and a title that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is attempting never to drive on at least the obvious of coattails. After all, that famous name that is last a double-edged sword, dependent on which voters you’re chatting to.

While both his daddy and brother have previously offered as president, Jeb Bush is trying to avoid being seen just as the next in line of succession, with a ‘royal’ aspect that lots of voters may perhaps not be comfortable with.

Campaign Was Unofficial for Months

Of course, by any standard that is reasonable Bush’s campaign has been underway for months, but he’s got carefully skirted the line to prevent officially launching a campaign organization until now. Throughout the weekend, Bush told CNN that becoming a candidate that is official enable him to better articulate his message to the American people.

‘I think this transition to a candidacy allows me to be more direct about my advocacy of the leadership skills essential for the next president to fix a few things,’ Bush said while in, of all places, Estonia on the weekend. ‘ And as a candidate, contrary to someone who has been listening and learning along the real way, I’ll offer alternatives to the path we’re on also, therefore i will be more specific on policy.’

Historically Opposed to Gambling

It’s uncertain whether we’ll get any information on Bush’s gaming policies, but his past stances on gambling problems while governor of Florida make it pretty clear as he strongly opposed gambling expansion in the state that he is no fan of casinos. His stances on Internet gambling are less clear, though it’s difficult to imagine he would be any friendlier to online poker and casino games than he was with their counterparts that are land-based.

Perhaps more importantly to their campaign, Bush might have to conquer conservative voters who’ren’t necessarily on board together with his stances on immigration and training, both areas where his wife can become a campaign that is important. He also recently struggled with questions over how he’d have managed the war in Iraq, and fired their campaign manager just last week due to squabbles inside their camp.

New Jersey Casinos See Online And Live Gains In May

The Golden Nugget has seen huge gains in its online gambling operations on the year that is past. (Image:

New Jersey’s online gambling market continues to grow, helping strengthen the remaining eight casinos still operating in Atlantic City.

But while the overall numbers are positive, not all games and casinos are sharing equally in the fortune that is good.

Based on the nj-new Jersey Department of Gaming Enforcement (DGE), on line gambling profits were around $12.47 million in May.

That represents an increase of more than 19 % over last May, when the sites brought in simply $10.47 million.

Online Casinos Up, Poker Down

But that growth has been fueled almost entirely by online casinos. In comparison, online poker rooms are struggling. Internet poker brought in only under $1.93 million in May, down from $2.27 million in the same month year that is last.

That figure marks the second-lowest monthly revenue for online poker in New Jersey, with only last November trailing the most recent month.

Once accountable for a quarter or maybe more of on line gambling revenues in New Jersey, poker is now no more than 15 % of this market.

On the poker side, the 888/World Series of Poker partnership felt the majority of the harm. The $831,799 they brought in through their Internet poker partnership was a low that is all-time while their only competitor in the state, Borgata/partypoker, held fairly steady.

Holding constant was a theme for the Borgata, as its overall Internet revenues were down by about one percent also.

Its still the market that is online, collecting about 32 percent of all revenues, but growth generally seems to have stalled: the business has yet to beat out its 2014 performance online in any month this year.

On the other hand, several companies have experienced their online offerings lose, none less compared to Golden Nugget.

The casino has taken full advantage to the fact that is now operating through them since the closure associated with Trump Plaza, and has now ridden that new partnership to a clear place that is second the state’s iGaming landscape.

Live Numbers Promising for Atlantic City

But while the online figures may show a combination of ups and downs for Atlantic City’s casinos, the overall numbers for the industry had been very encouraging in May. Overall, casinos won $208.6 million for the month, 5.3 percent significantly more than those exact same eight casinos took in year that is last.

To be certain, the overall pie is still smaller: in the event that you include three more gambling enterprises that have been operating last May but have since closed, the revenues are down by about 9 %.

But with fewer gambling enterprises in the mix, the May revenues still represent a exemplary result for the gambling enterprises that are nevertheless in business.

‘That’s a showing that is strong what our detractors say is a weak market,’ said New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look at the outcomes for the one thirty days or for the initial five months with this year, total gaming revenue is up for the present operators. The dimensions of industry might be smaller, but the wellness of the current operators is getting stronger.’

The winner that is biggest had been Caesars, which saw its month-to-month revenues increase by 51 per cent over last May. That was largely as a result of particularly unlucky month in high-stakes table games last year for Caesars.

Only two casinos were down year-over-year, including the Borgata, which saw revenues fall by 4.7 % but still easily led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, which is in the process of being acquired by Carl Icahn.

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