Trump Taj Mahal shuts down in Atlantic City

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

TRD New York /
Oct.October 10, 2016 02:04 PM

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


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
President Donald Trump and Manhattan District Attorney Cyrus Vance (Trump by BRENDAN SMIALOWSKI/AFP via Getty Image; Vance by Kevin Hagen/Getty Images)

Trump Org may be focus of broader fraud investigation by Manhattan DA

Trump Org may be focus of broader fraud investigation by Manhattan DA
President Donald Trump (Photo by Doug Mills-Pool/Getty Images; iStock)

Trump says he is “going to stop” evictions

Trump says he is “going to stop” evictions
Senate Minority Leader Chuck Schumer and Senate Majority Leader Mitch McConnell (Schumer by Tasos Katopodis/Getty Images; McConnell by Ting Shen/Xinhua via Getty)

Schumer v. McConnell on SALT: Who’s gonna give?

Schumer v. McConnell on SALT: Who’s gonna give?
From left: Jared Kushner, 715 Park Avenue, Deutsche Bank CEO Christian Sewing, and Rosemary Vrablic (Credits: Kushner by BRENDAN SMIALOWSKI/AFP via Getty Images; 715 Park via Google Maps; Sewing by by Thomas Lohnes/Getty Images; Vrablic by PAUL LAURIE/Patrick McMullan via Getty Images)

Apartment sale to banker for Trump and Kushner probed

Apartment sale to banker for Trump and Kushner probed
Larry Silverstein, Steve Roth and the J. Edgar Hoover Building (Getty)

Covid relief bill may include $1.8B FBI headquarters

Covid relief bill may include $1.8B FBI headquarters
President Trump (Getty, iStock)

Trump repeals HUD rule in bid to win over the ‘burbs

Trump repeals HUD rule in bid to win over the ‘burbs
arrow_forward_ios

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

Loading...