The Real Deal New York

Trump Taj Mahal shuts down in Atlantic City

Hotel and casino couldn’t come to a deal with striking workers

October 10, 2016 02:04PM

Donald Trump and the Taj Mahal in Atlantic City

Donald Trump and the Taj Mahal in Atlantic City

The last guests have checked out at the Trump Taj Mahal casino in Atlantic City, which closed its doors for the last time Monday morning.

Gamblers were cashing in their chips Sunday night as Trump, who no longer has an ownership stake in the casino, was debating Hilary Clinton in St. Louis, Missouri, CNN reported.

The last guests at the hotel checked out Sunday, and the Taj finally closed its doors just before 6 a.m.Monday.

Carl Icahn, who controlled the casino in its last days, called it a “sad day for Atlantic City” and the Taj’s 3,000 workers. He said he couldn’t come to an agreement with striking union workers and couldn’t keep the flailing casino afloat.

The union, which represents roughly 1,000 Taj workers, hammered out deals with four other casinos just before Independence Day weekend, but Taj workers went on strike July 1.

“Despite our best efforts, which included losing almost $350 million over just a few short years, we were unable to save the Taj Mahal,” Icahn said in a statement Monday.

The Taj opened in 1990 and had troubles from the onset. Trump used junk bonds to finance the property and couldn’t cover the debt payments. The state approved a $65 million bailout in 1990 and the casino filed for bankruptcy the following year.

Trump TRData LogoTINY gave up his position as CEO in 2004 and sold off the casino in 2009 but continued to lease his name to the property’s operating company. He later sued that company to take his name off the casino. [CNN]Rich Bockmann

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