The Real Deal New York

Icahn looking to buy time at Atlantic City’s Trump Taj Mahal

But the billionaire investor says he isn’t backing down

November 08, 2014 10:00AM

From left: Carl Icahn and Trump Taj Mahal in Atlantic City

From left: Carl Icahn and Trump Taj Mahal in Atlantic City

Billionaire investor Carl Icahn appears to be hedging his bets on Atlantic City’s Trump Taj Mahal.

The Taj could be shutting down as early as next month. But the Icahn Enterprises majority shareholder is considering providing a bridge loan to the owner of the Taj, according to the New York Post.

If issued, the debtor-in-possession financing would buy Icahn and Trump Entertainment Resorts time to see how their bankruptcy battle with union workers plays out before moving forward with a $100 million rescue package, sources told the Post. But Icahn needs to make a decision by the end of the month – when the company expects to run out of cash.

Icahn has already pumped $286 million into the boardwalk property, making him the casino’s biggest lender.

Either way, Icahn says he won’t back out of a deal he made with Trump Entertainment to acquire the Taj. [NYP]Christopher Cameron

  • ralphpetrillo

    Better to close it and to put it up for bidding. It may get a $ 75 million dollar offer.

  • pr64

    please save the taj, mr Icahn. you’re the only one who can. it’s a fabulous place with fabulous people who work there. all the regulars feel the same way and we would hate for it to close. it’s home for many of us. SAVE THE TAJ!!! SAVE THE TAJ!! SAVE THE TAJ!!!

  • Marc

    Like Hyman Roth, Mr. Icahn always makes money for his partners.

    • pr64

      LOVE IT!!!!!!!!!!!!!!!!!!!!!!!!

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