Carl Icahn wasn’t joking about closing the Trump Taj Mahal casino in Atlantic City.
Icahn will be chalking up the ‘investment’ being 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 shutting the resort.
Members regarding the Unite Here Local 54 union walked off 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 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 paperwork from the New Jersey Division of Gaming Enforcement (DGE), Icahn’s company states, ‘As a total consequence of the ongoing regional 54 strike and the vast amounts so 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 just how unused liquor will be discarded or sold, and whether the gambling machines is going to be used in a new casino or be stored 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 resort by 12 noon the following day.
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 provides will all be rendered null and void on October 10.
The Trump Taj Mahal was built in 1990 at a price of $1 billion. Billed by Donald Trump as the ‘eighth wonder of the world,’ the now-GOP candidate that is presidential his Atlantic City interests in ’09 amid his casino organization’s bankruptcy and restructuring.
Trump sold TER up to a hedge fund in 2009. After TER yet again fell into bankruptcy, Icahn bought the video gaming and hospitality company in 2016.
A bankruptcy court permitted Icahn to cancel specific benefits for Taj workers when he bought the bankrupt casino resort in March. He told the union that he required more time before restoring benefits for their previous amounts.
In addition to the restoration of these medical and pension benefits, Local 54 bartenders that are striking wait staff, cooks, and housekeeping service users also demanded increased hourly wages.
Icahn stated it absolutely wasn’t feasible. That angered union officials whom remarked that Icahn may be worth tens of bucks.
‘ For the few million bucks, he could have had labor comfort and a work that is content,’ Unite right Here Local 54 President Bob McDevitt stated. ‘ But alternatively he’d rather slam the home shut.’
Icahn says 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 will be for McDevitt to leave, and I’d joyfully buy him a one-way plane ticket 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 positively a Republican) possess some tissue that is connective it comes with their views on who they hope becomes the next US president. Each may be focused in slightly directions that are different but their six levels of separation when it comes to their vision 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 has to turn over all documents associated with its investigation of Hillary Clinton’s emails. (Image: Committee on Oversight & Government Reform)
Adelson has outright come down to get Donald Trump, donating a reputed $100 million via a super PAC to the fellow myfreepokies.com billionaire’s campaign efforts. While Chaffetz’ support may be somewhat more reluctant, their unbridled hatred for Democratic opponent Hillary Clinton has forced him to straight back the former casino mogul.
‘. . . [it’s a] no-brainer for me personally,’ said Chaffetz back May, even before Trump’s nomination was sealed up. ‘Hillary Clinton as president is a very scary scenario, so I do believe the country will see it the exact same way. [Trump] wasn’t my choice that is first my # 1 goal would be to perhaps not allow Hillary Clinton to become the next president of the usa.’
Home of Guards
Compared to that final 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 all documents over towards the committee relating to the agency’s research of Hillary Clinton’s personal 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’m going to complete it now,’ Chaffetz, who chairs the committee, said. ‘I’ve signed this subpoena . . . we would such as the file that is full. You can accept service on behalf of the FBI?’
‘Certainly,’ Herring answered.
‘You are hereby served,’ Chaffetz declared.
Once known within the 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 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, back in February of 2015. The measure has largely failed to gain any traction in either branch of Congress, but it’s not likely Adelson will let it die, having vowed to ‘spend whatever it takes’ to view it pass.
The facts, and Everything But the reality
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 online world cannot be precisely secured or managed, and therefore online casinos cannot adequately protect against underage gambling, money laundering, and other illegal tasks.
In July, Chaffetz’ Oversight Committee grilled FBI Director James Comey, aswell that they would forego recommending criminal charges against the Democratic candidate as US Attorney General Loretta Lynch, on how the FBI came to the conclusion.
Chaffetz described himself at that right time as a ‘kid in a candy shop’ while interrogating Comey. He asked why Clinton, who 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 component to provide false statements. Chaffetz responded, ‘It’s reasonable to consider that the secretary of state would get classified information every moment! She’s maybe not the relative head of fish and wildlife!’
Lynch appeared before the committee the following week, but provided little further understanding.
‘the lack of clarity you give to this physical body is pretty stunning,’ Chaffetz told the usa Attorney General.
Not Permitting Up
One of the things Chaffetz and fellow gambling that is anti-online Adelson share is a determination to dig in and not let go.
Worth an estimated $30 billion and now 83-years-old, Adelson is showing no signs of slowing down. The Las vegas, nevada Sands founder continues to stress Chaffetz in the home, and Sen. Lindsey Graham (R-South Carolina) into the Senate, to push through RAWA.
Adelson is busier than your typical senior citizen. Their company started its $2.5 billion Parisian resort in Macau on Tuesday, and he’s additionally actively working to bring expert football to 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 am able to make money in an way that is honest as a form of entertainment. But why do i want it, the fantasy sports? I think it is immoral.’
NCAA Moves Seven Championships From North Carolina Over ‘Civil Rights Protections’
North Carolina’s place on bathrooms has flushed seven NCAA championship that is national 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 events from new york because of the state’s legislation that mandates people utilize public restroom facilities that correspond with the sex that is noted on their birth certificates.
New york’s House Bill 2, often called the ‘Public Facilities Privacy & Security Act,’ was passed away in the state legislature in March. The statute prohibits gay, bisexual, transgender, genderqueer, and intersex folks from making use of the gender bathroom they most 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 all about a lot more than the ability to participate in college activities, 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 taking part within our championships.’
Hosting national championships is big business for state and neighborhood economies. The sporting competitions can also boost revenues at casinos.
Glendale, Arizona, estimated its hosting of the NCAA university Football National Championship in January generated an impact that is economic of300 million and 60,000 resort visitor space nights. The Desert Diamond West Valley Casino launched just weeks before the big game to take advantage 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 monetary loss is still considerable.
The seven NCAA championship occasions 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 Guys’s and Women’s Soccer Championships
2017 Division We Women’s Golf Championship
Vermont Attorney General Roy Cooper claims it is the right time to repeal HB 2. ‘Enough is enough,’ Cooper said in statement. ‘ We have to repeal this law and back get our state on the right track.
But North Carolina Republic Party spokeswoman Kami Mueller said the NCAA’s outrage is hypocritical and unwarranted.
‘I genuinely anticipate the NCAA merging all men’s and women’s teams together as singular, unified, unisex teams,’ Mueller stated. ‘you have a women’s team? if you should be unwilling to have women’s bathrooms and locker rooms, how do’
NCAA’s Means or the Highway
Although the NCAA undoubtedly has every right to host its competitions wherever it sees fit, an attitude is presented by the organization of ethical superiority that is criticized by some.
The college sports governing body is adamantly against sports gambling and recently won a lawsuit against New Jersey that prevents hawaii 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 created about $1 billion in revenue.
Players have actually advocated for some sort of compensation in the past few years, but to date the NCAA has won those lawsuits also.