Sad! Trump Taj Mahal to close after Labor Day: owners

Los Angeles /
Aug.August 05, 2016 12:00 PM

The house doesn’t always win. The Trump Taj Mahal casino in embattled Atlantic City will close after Labor Day, the owners announced Wednesday.

Billionaire Carl Icahn’s Tropicana Entertainment, which officially took control of the casino earlier this year, blamed labor union Unite Here Local 54 for the closure, claiming it blocked a “path to profitability.” The casino, developed by Donald Trump in the late 1990s, employed 2,100 people at the end of 2015. About 1,000 employees had been on strike since July 1 after Icahn attempted to cut healthcare and pension benefits.

Local 54’s president fired back at Tropicana. “For a few million bucks, (Carl Icahn) could have had labor peace and a content workforce, but instead he’d rather slam the door shut on these long-term workers just to punish them and attempt to break their strike,” he said in a statement, according to the Press of Atlantic City.

The casino came close to shuttering before, in late 2014, but at the time Trump Entertainment Resorts managed to land a $20 million loan from Carl Icahn.   Following its bankruptcy, Trump Entertainment Resorts became a subsidiary of Icahn Enterprises this February and Trump lost his remaining 10 percent stake in the casino.

The Trump Taj Mahal would be Atlantic City’s fifth casino to close since 2014, exacerbating the resort city’s economic crisis. [Press of Atlantic City]Konrad Putzier 


Related Articles

arrow_forward_ios
From left: Jeff Worthe, Joyce Rey, Geoff Palmer, Jaime Lee and Frank Gehry (Credit: Alberto E. Rodriguez/Getty Images, Jonathan Leibson/Getty Images, Grant Smith/Construction Photography/Avalon/Getty Images)

Here are LA’s real estate players who donated to Biden and Trump in 2020

Here are LA’s real estate players who donated to Biden and Trump in 2020
From left: Jason Segel, Donald Trump, Shaun White White, and Dr. Dre (Credit: Getty Images)

This week in celeb real estate: Trump leaves Beverly Hills, Dr. Dre buys in Pacific Palisades… and more

This week in celeb real estate: Trump leaves Beverly Hills, Dr. Dre buys in Pacific Palisades… and more
Donald Trump has sold his home in Beverly Hills (Credit: Getty Images, and Google Maps)

Trump Org sells off Beverly Hills home

Trump Org sells off Beverly Hills home
Gavin Newsom, Donald Trump and a rendering of the train

Trump derails $929M in funding for the bullet train, jeopardizing construction

Trump derails $929M in funding for the bullet train, jeopardizing construction
Donald Trump and Sam Zell (Credit: Getty Images)

Zell on Trump: President’s tax documents showing massive losses “don’t tell much of a picture”

Zell on Trump: President’s tax documents showing massive losses “don’t tell much of a picture”
President Trump said to acknowledge talks about Moscow skyscraper continued through election night

President Trump said to acknowledge talks about Moscow skyscraper continued through election night

President Trump said to acknowledge talks about Moscow skyscraper continued through election night
Trump’s “new NAFTA” deal with Canada could be relief for developers

Trump’s “new NAFTA” deal with Canada could be relief for developers

Trump’s “new NAFTA” deal with Canada could be relief for developers
Trump pal Thomas Barrack snaps up Brentwood spec home

Trump pal Thomas Barrack snaps up Brentwood spec home

Trump pal Thomas Barrack snaps up Brentwood spec home
arrow_forward_ios

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

Loading...