Trump Taj Mahal Still Eyeing Oct. 10 ClosingCarl Icahn Rejects Union Bid To Keep Casino Open |
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The Trump Taj Mahal in Atlantic City is still set to close Oct. 10, as billionaire casino boss Carl Icahn last week rejected a union bid to keep the property open, according to a report from the Associated Press.
The casino had just re-opened its storied poker room in May after emerging from Chapter 11 bankruptcy protection.
More than 3,000 jobs will be lost when it closes. The report said that Icahn, who also owns the Tropicana in Atlantic City, has yet to formally ask New Jersey gambling regulators for permission to do so.
In early July, Atlantic City’s main casino workers union went on strike against the casino over health insurance and pension benefits. The strike eventually resulted in Icahn deciding to walk away from the property he acquired for $300 million through Chapter 11 bankruptcy this year.
Icahn’s acquisition wiped out the small ownership stake that Donald Trump still had in the casino’s parent company. Icahn says he has lost $100 million on the Taj.
Through the first six months of 2016, the Taj Mahal won $85,180,273 from gamblers, a year-over-year decrease of 3.6 percent from $88,406,362.
The Taj’s closing will leave Atlantic City with just seven casinos.
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