Taj Mahal casino in Atlantic City can keep Trump name

Donald and Ivanka Trump reached a deal with billionaire investor Carl Icahn in bankruptcy court

New York /
Mar.March 10, 2015 08:35 AM

The Taj Mahal casino in Atlantic City will be able to continue to operate under the Trump name.

Donald Trump and his daughter Ivanka are dropping a lawsuit in which they were trying to remove their name from the troubled casino after reaching a settlement with billionaire investor Carl Icahn, according to the Wall Street Journal. Under the agreement, the Trump Taj Mahal can keep its name as long as it operates as a casino.

The Taj had initially been scheduled to close in December 2014 after Trump Entertainment Resorts, the company Donald Trump launched to run his (now mostly crumbled) Atlantic City gambling empire, filed for bankruptcy. Trump no longer owns or manages Trump Entertainment Resorts, but still has a 10 percent stake in the company. Icahn, who is also the company’s biggest lender, is acquiring the casino in return for the debt he holds.

The Trumps claimed in a lawsuit that they filed last year, that the bankrupt casino wasn’t good enough for the brand name after having fallen into disrepair, according to the newspaper. [WSJ] — Claire Moses

 
 
 

Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Stephen Ross and Charles Kushner (Getty)
Stephen Ross, Charles Kushner, other titans paid no federal taxes for years
Stephen Ross, Charles Kushner, other titans paid no federal taxes for years
Trump International Hotel D.C. and Donald Trump (Getty, Trump Hotels)
Trump could profit $100M in DC hotel sale
Trump could profit $100M in DC hotel sale
Donald Trump (Getty)
Pandemic dashed one-quarter of Trump’s NYC retail tenants
Pandemic dashed one-quarter of Trump’s NYC retail tenants
Prosecutors probing disparities in Trump Org property valuations
Prosecutors probing disparities in Trump Org property valuations
Prosecutors probing disparities in Trump Org property valuations
Republicans are more likely to move to blue states if there are no mask or vaccine mandates (Getty)
Republicans game to live in blue states — unless there’s a Covid mandate
Republicans game to live in blue states — unless there’s a Covid mandate
Donald Trump, Trump International Hotel D.C. and CGI Merchant Group CEO Raoul Thomas (Getty, CGI)
CGI Merchant Group to pay $375M for Trump’s DC hotel
CGI Merchant Group to pay $375M for Trump’s DC hotel
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...