Carl Icahn was not joking about closing the Trump Taj Mahal casino in Atlantic City.
Icahn will be chalking up the ‘investment’ as a $100 million loss.
Thousands of jobs will be lost and the livelihoods of numerous families will be thrust into jeopardy.
It’s strike three for the Local 54 union at the Trump Taj Mahal, as Carl Icahn is moving forward with shutting the resort.
Members of the Unite Here regional 54 union walked off the job on July 1 in protest of wellness and pension benefits. After 30 days of much picketing but little negotiating, Icahn announced his plans to shutter the house this fall.
There was some hope that the 2 sides could bond and avoid Atlantic City’s 5th casino closure since 2014. But on September 2, Icahn made his move official.
In newly released documents from the latest Jersey Division of Gaming Enforcement (DGE), Icahn’s company states, ‘As outcome of the ongoing regional 54 attack and the vast amounts it has cost the Taj Mahal, Trump Entertainment Resorts (TER) no longer sees a path to profitability.’
DGE regulations require casinos to detail their closing plans. Owners must explain exactly how liquor that is unused be discarded or sold, and whether the gambling machines is going to be utilized in a new casino or be kept elsewhere.
Casino chips must additionally be properly disposed.
The Trump Taj Mahal will continue arrival that is accepting until Saturday, October 8. All guests must checkout of the hotel by 12 noon the following day.
The casino and resort will formally close at 5:59 am on October 10 monday.
Taj Gift cards, credit, comp dollars, vouchers, and other promotional provides will all be rendered null and void on October 10.
The Trump Taj Mahal was built in 1990 at a cost of $1 billion. Billed by Donald Trump as the ‘eighth wonder worldwide,’ the now-GOP presidential prospect sold their Atlantic City interests during 2009 amid his casino business’s bankruptcy and restructuring.
Trump sold TER up to a hedge fund in 2009. After TER yet again fell into bankruptcy, Icahn bought the gaming and hospitality business in 2016.
A bankruptcy court permitted Icahn to cancel particular benefits for Taj workers as he purchased the bankrupt casino resort in March. He told the union that he required more time before restoring benefits for their previous amounts.
In addition to the renovation of these medical and pension advantages, Local 54 bartenders that are striking wait staff, cooks, and housekeeping service people also demanded increased hourly wages.
Icahn said it wasn’t feasible. That angered union officials who remarked that Icahn is worth tens of bucks.
‘ For the few million bucks, he could have had labor comfort and a content work force,’ Unite Here Local 54 President Bob McDevitt said. ‘ But instead he’d rather slam the hinged door shut.’
Icahn claims he appears to lose $100 million in the Trump Taj Mahal.
‘McDevitt has proven over and over repeatedly that he does not have any regard for the truth,’ Icahn said in late August. ‘ The best thing that could happen for Atlantic City would be for McDevitt to go out of, and I also’d happily buy him a one-way plane ticket and pay his moving costs.’
RAWA Supporters Chaffetz and Adelson Find Common Ground in Politics and Internet Security
Utah Representative Jason Chaffetz (R) and Las Vegas Sands CEO Sheldon Adelson (also positively a Republican) have some connective muscle whenever it comes for their views on who they hope becomes the next United States president. Each are focused in slightly different directions, however their six quantities of separation whenever it comes to their eyesight for America going ahead makes them political bedfellows nonetheless.
The FBI got served this week by Rep. Jason Chaffetz of Utah on the grounds that the agency needs to turn all documents over relating to its investigation of Hillary Clinton’s emails. (Image: Committee on Oversight & Government Reform)
Adelson has outright come down in support of Donald Trump, donating a reputed $100 million via a super PAC to your billionaire that is fellow campaign efforts. While Chaffetz’ support may be somewhat more reluctant, their unbridled hatred for Democratic opponent Hillary Clinton has forced him to straight back the former casino mogul.
‘. . . [it’s a] no-brainer for me personally,’ said Chaffetz back May, also before Trump’s nomination was sealed up. ‘Hillary Clinton as president is definitely a scary scenario, so I do believe the country will see it the same way. [Trump] wasn’t my first choice, but my No. 1 goal would be to perhaps not allow Hillary Clinton to become the next president of the United States.’
House of Guards
To that particular final end, Chaffetz has no intention of letting Clinton’s ongoing email debacle fade away.
During your House Committee on Oversight and Government Reform’s hearing this week, Chaffetz asked FBI legislative liaison Jason Herring if the FBI will turn all documents over towards the committee relating to the agency’s investigation of Hillary Clinton’s individual e-mail server. When Herring stated he could maybe not make that commitment, Chaffetz issued a subpoena immediately.
‘I’m going to issue a subpoena, and I’m going to complete it today,’ Chaffetz, who chairs the committee, said. ‘I’ve signed this subpoena . . . we would just like the complete file. You can accept service on behalf of the FBI?’
‘Certainly,’ Herring answered.
‘You are hereby served,’ Chaffetz declared.
As soon as known in the gaming community simply as billionaire casino bigwig Adelson’s congressional RAWA puppet, Chaffetz has quickly become enemy #1 of the FBI. The Oversight’s meeting this titled ‘Classifications and Redactions in FBI’s Investigative File,’ was for federal agencies to explain why their reports to Congress came with substantial redactions and omissions of evidence week.
The Utah congressman introduced the Restoration of America’s Wire Act (RAWA), the anti-online gambling bill, right back in February of 2015. The measure has largely failed to gain any traction in either branch of Congress, however it’s unlikely Adelson will allow it die, having vowed to ‘spend whatever it requires’ to see it pass.
The facts, and Everything But the reality
Chaffetz thinks Clinton might have put America at risk https://myfreepokies.com/dolphin-treasure/ by hosting classified information on unsecured e-mail servers.
Ironically, one of RAWA’s main arguments is the web cannot be correctly secured or managed, and so online casinos cannot adequately protect against underage gambling, money laundering, and other activities that are illegal.
In July, Chaffetz’ Oversight Committee grilled FBI Director James Comey, as well as US Attorney General Loretta Lynch, on what the FBI stumbled on the conclusion they would forego recommending criminal fees against the Democratic candidate.
Chaffetz described himself at that right time as a ‘kid in a candy store’ while interrogating Comey. He asked why Clinton, who testified under oath that she don’t send or receive classified informative data on her private host, wasn’t charged when the FBI admitted it found evidence towards the contrary.
Comey deflected by describing that the FBI discovered no intent on Clinton’s part to provide statements that are false. Chaffetz responded, ‘It’s reasonable to think that the secretary of state would get classified information every minute! She actually is not the mind of seafood and wildlife!’
Lynch showed up ahead of the committee the following week, but provided insight that is little further.
‘the lack of clarity you give to this physical body is pretty stunning,’ Chaffetz told the US Attorney General.
Not Permitting Up
One of the things Chaffetz and fellow anti-online gambling proponent Adelson share is a determination to dig in and maybe not release.
Worth an estimated $30 billion and now 83-years-old, Adelson is showing no signs of slowing down. The Las vegas, nevada Sands founder continues to stress Chaffetz in the homely house, and Sen. Lindsey Graham (R-South Carolina) in the Senate, to push through RAWA.
Adelson is busier than your typical senior citizen. His business exposed its $2.5 billion Parisian resort in Macau on Tuesday, and he’s also actively working to bring professional football to vegas. But while he believes it is time for the NFL to embrace sports betting, he isn’t almost as enthusiastic about the possibility of day-to-day dream sports (DFS) online.
‘I think [DFS] exploits the indegent,’ Adelson told Yahoo Finance recently. ‘I’m able to earn money in an truthful way, being a type of activity. But why do it is needed by me, the fantasy activities? I think it’s immoral.’
NCAA Moves Seven Championships From North Carolina Over ‘Civil Rights Protections’
North Carolina’s position on bathrooms has flushed seven NCAA national championship events out from the state. NCAA President Mark Emmert says the competitions will be moved to more ‘respectful’ environments. (Image: LM Otero/Associated Press)
The NCAA is moving seven nationwide championship events from North Carolina as a result of state’s legislation that mandates persons use public restroom facilities that correspond with the sex that is noted on their birth certificates.
North Carolina’s House Bill 2, commonly known as the ‘Public places Privacy & Security Act,’ was passed in the state legislature in March. The statute forbids homosexual, bisexual, transgender, genderqueer, and intersex folks from making use of the gender bathroom they many closely identify with.
The legislation is highly controversial. The Department of Justice sued North Carolina Governor Pat McCrory (R) in May on grounds that HB2 violates multiple federal laws including the Civil Rights Act.
‘Fairness is all about a lot more than the chance to take part in college recreations, or even compete for championships,’ NCAA President Mark Emmert said in a statement. ‘ We rely on providing a safe and respectful environment at our events and are committed to providing the very best experience feasible for college athletes, fans and everyone engaging in our championships.’
Hosting national championships is big business for state and local economies. The sporting contests can boost revenues at also casinos.
Glendale, Arizona, estimated its web hosting of the NCAA university Football National Championship in January generated an impact that is economic of300 million and 60,000 resort visitor space nights. The Desert Diamond West Valley Casino launched just weeks before the big game to just take benefit of the influx of tourists to your Phoenix area.
The financial loss is still considerable though none of the canceled events carry the marquee of hosting the NCAA College Football Playoff National Championship.
The seven NCAA championship events moving are:
2016 Division I Women’s Soccer Championship
2017 Division III Men’s and Women’s Tennis Championships
2017 Division I Women’s Lacrosse Championship
2017 Division II Baseball Championship
2016 Division I Men’s Basketball Championship, first/second rounds
2016 Division III Men’s and Ladies’ Soccer Championships
2017 Division We Ladies’ Golf Championship
Vermont Attorney General Roy Cooper claims it’s time to repeal HB 2. ‘Enough is enough,’ Cooper said in statement. ‘ We have to repeal this law and get our state back on the right track.
But North Carolina Republic Party spokeswoman Kami Mueller said the NCAA’s outrage is hypocritical and unwarranted.
‘we genuinely look forward to the NCAA merging all men’s and females’s groups together as singular, unified, unisex teams,’ Mueller said. ‘in the event that you are unwilling to have females’s bathrooms and locker rooms, just how do you do have a women’s team?’
NCAA’s Means or the Highway
While the NCAA certainly has every right to host its competitions wherever it sees fit, an attitude is presented by the organization of ethical superiority that is criticized by some.
The college sports governing body is adamantly against sports wagering and recently won a lawsuit against nj that prevents hawaii from legalizing gambling on athletics. The NCAA also opposes daily dream sports (DFS).
DraftKings and FanDuel, the two leading DFS organizations in the US, removed college contests from their platforms in March.
The NCAA is an organization that is not-for-profit meaning it does not pay fees on most of its income. In 2015, the NCAA produced about $1 billion in revenue.
Players have actually advocated for some sort of compensation in modern times, but to date the NCAA has won those lawsuits aswell.