Carl Icahn Awarded Trump Taj Mahal as Battle with Union Continues
Carl Icahn Awarded Trump Taj Mahal as Battle with Union Continues Carl Icahn desires to revitalize the Taj Mahal in Atlantic City and save thousands

Carl Icahn desires to revitalize the Taj Mahal in Atlantic City and save thousands of jobs in the process, but he says it can not be done unless local union workers are prepared to compromise. Unhappy union employees, shown only at an earlier protest, feel otherwise.
Billionaire Carl Icahn has acquired the Trump Taj Mahal, exchanging $292 million he’s owed for complete ownership of the casino in a deal that ended up being approved by the brand new Jersey Casino Control Commission this week.
Icahn says he shall invest another $100 million to revitalize the resort and also to keep the Atlantic City landmark solvent.
‘We believe whenever you pull into the Taj Mahal, it is dirty, it’s dated, and it needs to be freshened up,’ Trump Entertainment CEO Robert Griffin stated associated with settlement. ‘I feel really highly that the Taj Mahal will do well.’
That is going to be no task that is easy however, because the north end boardwalk gambling venue continues to operate at a loss, including being $8.7 million in the red for the very first quarter of 2015. The hotel’s 2,010 spaces were less than 50 % full throughout the first three months for the year, a drastically reduced price than that of the other seven casino hotels that averaged occupancy levels of around 70 to 85 %.
Icahn’t Stay Unions
Icahn is optimistic he can restore the Taj to its former days of glory. But one condition that is key mogul insists on is that regional 54 while the UNITE HERE unions stop their pursuit of experiencing a court mandate Icahn to reinstate benefits for employees that have been terminated by Trump Entertainment during bankruptcy proceedings.
On Wednesday, Icahn told reporters he sees the Taj being reestablished much like he did with the Tropicana, the other https://casino-online-australia.net/planet-7-oz-casino-review/ Atlantic City casino under their ownership.
‘Although regional 54 seems fixated at all costs on damaging the Taj, and risking its closing and the loss in almost 3,000 jobs, we am optimistic,’ Icahn said.
Icahn also released a letter to neighborhood 54 Taj employees this week that likens the nationwide UNITE HERE organization to a Ponzi scheme that uses dues to enrich the lives of its leadership at a detrimental expense to its users.
‘It is an undisputable fact that your union leadership declined to negotiate with the Taj as the losses were mounting also it was pushed into bankruptcy. Your union leadership refused to take into account any concession that would have aided keep the Taj afloat, and that is because your jobs don’t matter to the union leadership,’ Icahn wrote.
Icahnoclast
The once bustling gambling mecca for the east coast is now house to just eight total casinos, and Icahn now has control of two, or 25 % of the city’s video gaming venues. That means along side Caesars Entertainment, owners of Bally’s, Caesars Atlantic City, and Harrah’s, Icahn has a tiny monopoly on town where the overall game of Monopoly is situated.
Thought it’s understandable union workers want and need their wellness insurance and pension advantages reinstated, their tactics might be going about this in the wrong way. This week, Local 54 delivered a page to Icahn’s midtown Manhattan office by having a list of its demands, along side an apple pie, a dig in response to Icahn saying ‘apple pie and flowers isn’t how a world works’ earlier this year.
Jeb Bush Latest GOP Candidate to Enter Republican Presidential Race
Officially official: After many months of unofficial fundraising, Jeb Bush confirmed his bid for the 2016 GOP nomination today. The son and sibling of two past United States presidents is hoping to separate your lives his campaign from their rather family name that is famous. Sort of. (Image: Erik Schelzig/AP)
Jeb Bush joined the ever-expanding crowd of Republican candidates into the 2016 presidential election on Monday, by having an statement at Miami-Dade College in the afternoon. But unlike lots of the over a dozen applicants in the GOP field, Bush will be hoping to operate from a position of strength, as he will be one associated with favorites for the celebration’s nomination in the early going regarding the campaign.
‘ In almost any language my message is an optimistic one, that we can make the decades just ahead in America the greatest time ever to be alive in this world,’ the latest Bush political dynasty candidate opined, using both English and Spanish to address the live and undoubtedly massive TV audience because I am certain.
Columba Bush, a first-generation Mexican immigrant who married Jeb 41 years back, could prove critical in helping him reach Hispanic voters. (Image: Bill Ingalls/NASA/Getty)
Columba Bush, who was married to your politician for 41 years and ended up being initially from León, Guanajuato in Mexico, will certainly be an important force in a country grappling with immigration and dual-language issues on a basis that is almost daily.
In fact, the tale goes that Mrs. Bush did not also speak English when she married Jeb back in 1974. Her mother had been reportedly a worker that is migrant food server.
Bush may require the help. Although the Florida that is former governor often the leader in national polls of Republican voters, though that advantage is incredibly narrow. In reality, it may become more accurate to consider Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders as of this very early stage.
Strong Establishment Candidate
That stated, Bush has plenty of advantages that will make their campaign a strong one. For one, he will do not have difficulty raising cash.
One super PAC that is backing him had hoped to improve $100 million by the conclusion of June, and while they’ll almost certainly come up short of this objective, it’s clear there will be plenty of funding for the Bush war chest.
He will have numerous endorsements from Republican establishment figures, and a title that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is trying to not ride on at the least the most obvious of coattails. After all, that famous final name is a double-edged sword, dependent on which voters you’re talking to.
While both his brother and father have previously offered as president, Jeb Bush is attempting to avoid being seen simply because the next in line of succession, with a ‘royal’ aspect that numerous voters may perhaps not be comfortable with.
Campaign Has Been Unofficial for Months
Of course, by any reasonable standard, Bush’s campaign has been underway for months, but he has carefully skirted the line to avoid formally launching a campaign company until now. Within the weekend, Bush told CNN that becoming an official candidate will enable him to better articulate his message to the US individuals.
‘we think this transition to a candidacy will allow me to be more direct about my advocacy associated with the leadership abilities essential for the president that is next fix a few things,’ Bush said while in, of all places, Estonia on the weekend. ‘ And as a prospect, contrary to somebody who has been paying attention and learning along the way, we’ll supply alternatives to the road we’re on aswell, so I’ll be more specific on policy.’
Historically Opposed to Gambling
It is uncertain whether we’ll get any information on Bush’s gaming policies, but his previous stances on gambling issues while governor of Florida make it pretty clear as he strongly opposed gambling expansion in the state that he is no fan of casinos. Their stances on Internet gambling are less clear, though it is difficult to imagine he could be any friendlier to online poker and casino games than he was to their land-based counterparts.
Perhaps more importantly to their campaign, Bush may have to make an impression on conservative voters who aren’t always on board together with stances on immigration and education, both areas where his wife can become an important campaign ally. He also recently struggled with questions over how he would have managed the war in Iraq, and fired his campaign manager week that is just last to squabbles inside their camp.
Nj-new Jersey Casinos See Online And Live Gains In May
The Golden Nugget has seen huge gains in its online gambling operations over the past year. (Image: GoldenNugget.com)
New Jersey’s online gambling market continues to grow, helping strengthen the remaining eight gambling enterprises still running in Atlantic City.
But while the entire numbers are positive, maybe not all games and casinos are sharing equally into the good fortune.
Based on the New Jersey Department of Gaming Enforcement (DGE), on line gambling profits were around $12.47 million in May.
That represents a rise in excess of 19 percent over last May, when the sites brought in just $10.47 million.
Online Casinos Up, Poker Down
But that growth has been fueled very nearly entirely by online casinos. In comparison, online poker rooms are struggling. Internet poker brought in only under $1.93 million in might, down from $2.27 million in the same month year that is last.
That figure marks the second-lowest monthly revenue for on-line poker in New Jersey, with only last November trailing the absolute most month that is recent.
Once responsible for a quarter or higher of on line gambling revenues in nj-new jersey, poker is now no more than 15 % of the market.
The 888/World Series of Poker partnership felt most of the damage on the poker side of things. The $831,799 they introduced through their Internet poker partnership had been a low that is all-time while their only competitor in the state, Borgata/partypoker, held fairly steady.
Holding constant was a theme for the Borgata, as its general Internet revenues were down by about one percent too.
Its still the online market leader, collecting about 32 percent of all revenues, but growth appears to have stalled: the company has yet to beat out its 2014 performance online in any thirty days in 2010.
On the other hand, a few companies have experienced their online offerings take off, none less than the Golden Nugget.
The casino has taken full advantage to the fact that BetfairCasino.com is now operating through them considering that the closure of the Trump Plaza, and has now ridden that new partnership to a clear place that is second hawaii’s iGaming landscape.
Live Numbers Promising for Atlantic City
But while the figures that are online show a mix of ups and downs for Atlantic City’s casinos, the overall numbers for the industry were very encouraging in May. Overall, casinos won $208.6 million for the month, 5.3 per cent more than those exact same eight casinos took in year that is last.
To make sure, the pie that is overall still smaller: in the event that you include three more gambling enterprises that were operating last might but have since closed, the revenues are down by about 9 per cent.
However with fewer gambling enterprises in the mix, the May revenues still represent a result that is excellent the gambling enterprises that are nevertheless in business.
‘That’s a strong showing for what our detractors say is a weak market,’ said brand New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look at the outcomes for the one thirty days or for 1st five months with this 12 months, total gaming income is up for the present operators. The size of industry might be smaller, but the wellness for the current operators is getting stronger.’
The biggest champion ended up being Caesars, which saw its month-to-month revenues enhance by 51 % over last might. That was largely due to a specially unlucky month in high-stakes table games last year for Caesars.
Just two casinos were down year-over-year, including the Borgata, which saw revenues fall by 4.7 percent yet still effortlessly led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, which will be along the way to be obtained by Carl Icahn.
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