Trump Taj Mahal Refuses To Change NameCasino Also Eyeing Taxpayer Bailout, To Cut Benefits For Its Own Workers |
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The Trump Taj Mahal in Atlantic City has a list of hefty demands that if not met will likely result it its closure next month.
Infamous celebrity Donald Trump has sued the casino to try to get his name off of it because he thinks the casino has been such an embarrassment, but the casino has refused, basically arguing that the name needs to stay and a lawsuit from Donald Trump right now will hurt the bankruptcy process of the casino’s parent company, Trump Entertainment, of which Donald reportedly still has a small percent.
Donald’s daughter Ivanka Trump said Monday that the firm “did not live up to the standards we agreed to.” In other words, their licensing deal can be terminated, she believes.
The Trump family argues that their brand is suffering because the casino is failing amid a citywide casino industry collapse. However, the casino maintains that there’s no proof that the Trumps have actually had their brand hurt by having the Trump name still on the casino.
“The debtors face many challenges, and the last thing these chapter 11 cases can afford is the significant expense, distraction and uncertainty of state court litigation over whether the debtors can preserve the very name under which they do business,” Trump Entertainment wrote.
Late last week, Trump Taj Mahal got a federal judge to void its contract with its union of workers, meaning that they will be left in the cold without health insurance and other benefits. Roughly 3,000 people work at the casino right now.
Furthermore, the casino is looking for working families to help bankroll its operations. According to the AP, it is seeking $175 million in state and local government assistance to help it stay afloat before billionaire Carl Icahn would agree to buy the property and bail it out.
Trump Taj Mahal has threatened to close Nov. 13 if it doesn’t get what it wants.
Trump Entertainment took the Trump name off the Trump Plaza which closed last month. However, the firm is looking to try to keep the Taj open, hence the fight for the name.
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