Carl Icahn Awarded Trump Taj Mahal as Battle with Union Continues

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Carl Ic<span id="more-40962"></span>ahn Awarded Trump Taj Mahal as Battle with Union Continues

Carl Icahn desires to revitalize the Taj Mahal in Atlantic City and save yourself thousands of jobs in the process, but he says it can not be done unless local union workers are willing to compromise. Unhappy union workers, shown only at an early on protest, feel otherwise.

Billionaire Carl Icahn has obtained the Trump Taj Mahal, exchanging $292 million he’s owed for complete ownership of the casino in a deal that had been authorized by the newest Jersey Casino Control Commission this week.

Icahn says he will invest another $100 million to revitalize the resort and also to keep the Atlantic City landmark solvent.

‘We think whenever you pull into the Taj Mahal, it’s dirty, it’s dated, and it takes to be freshened up,’ Trump Entertainment CEO Robert Griffin said associated with the settlement. ‘I feel extremely highly that the Taj Mahal will excel.’

That is going to be no simple task, however, as the north end boardwalk gambling venue continues to operate at a loss, including being $8.7 million in the red for 1st quarter of 2015. The hotel’s 2,010 rooms were less than 50 per cent full through the very first three months of this a drastically lower rate than that of the other seven casino hotels that averaged occupancy levels of around 70 to 85 percent year.

Icahn’t Stay Unions

Icahn is optimistic which he can restore the Taj to its former days of glory. But one condition that is key mogul insists on is that Local 54 and also the UNITE HERE unions stop their pursuit of having a court mandate Icahn to reinstate benefits for workers 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 Atlantic City casino under his ownership.

‘Although regional 54 seems fixated at all costs on damaging the Taj, and risking its closing and the lack of almost 3,000 jobs, I am positive,’ Icahn said.

Icahn also released a letter to regional 54 Taj employees this week that likens the national UNITE HERE organization up to a Ponzi scheme that uses dues to enrich the lives of its leadership at a detrimental expense to its users.

‘It is an fact that is undisputable your union leadership declined to negotiate with the Taj as its losses were mounting also it was pushed into bankruptcy. Your union leadership declined to think about any concession that would have helped keep the Taj afloat, and that’s because your jobs don’t matter to the union leadership,’ Icahn penned.


The once bustling gambling mecca for the coast that is east now home to simply eight total casinos, and Icahn now has control of two, or 25 % of the city’s gaming venues. That means along side Caesars Entertainment, owners of Bally’s, Caesars Atlantic City, and Harrah’s, Icahn has a monopoly that is small town where the game of Monopoly relies.

Thought it is understandable union workers want and need their wellness insurance coverage and retirement advantages reinstated, their tactics might be going about it in the wrong way. This week, Local 54 delivered a page to Icahn’s midtown Manhattan workplace having a list of its demands, along with an apple pie, a dig in reaction to Icahn saying ‘apple pie and roses isn’t how a globe works’ previously 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 brother of two past US presidents is hoping to separate his campaign from their instead family name that is famous. Kind of. (Image: Erik Schelzig/AP)

Jeb Bush joined the ever-expanding crowd of Republican candidates into the 2016 election that is presidential Monday, having an announcement at Miami-Dade College in the afternoon. But unlike lots of the higher than a dozen applicants within the GOP field, Bush will be hoping to run from a position of strength, as he will be one associated with the favorites for the celebration’s nomination in the early going associated with campaign.

‘ In any language my message is going to be 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 ago, could show critical in helping him reach Hispanic voters. (Image: Bill Ingalls/NASA/Getty)

Columba Bush, who has been married to your politician for 41 years and had been originally from León, Guanajuato in Mexico, will certainly be an essential force in a country grappling with immigration and dual-language dilemmas on a almost daily basis.

In fact, the tale goes that Mrs. Bush did not even speak English when she married Jeb back in 1974. Her mother had been reportedly a worker that is migrant food server.

Bush may need the help. Although the former Florida governor is often the best choice in national polls of Republican voters, though that advantage is extremely narrow. In reality, it may be much more accurate to check Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders as of this early stage.

Strong Establishment Candidate

That said, Bush has lots of advantages that will make his campaign a strong one. For one, he will do not have difficulty raising money.

One PAC that is super that supporting him had hoped to boost $100 million by the finish of June, even though they’ll almost certainly come up short of that objective, it’s clear there’ll be plenty of funding for the Bush war chest.

He’ll also provide numerous endorsements from Republican establishment figures, and a name that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is attempting never to drive on at the very least the most obvious of coattails. After all, that famous name that is last a double-edged sword, dependent on which voters you are speaking to.

While both his brother and father have previously offered as president, Jeb Bush is wanting to avoid being seen just while the next in line of succession, with a ‘royal’ aspect that lots of voters may not be comfortable with.

Campaign Happens To Be Unofficial for Months

Needless to say, by any reasonable standard, Bush’s campaign has been underway for months, but he’s got carefully skirted the line to prevent formally launching a campaign company until now. On the weekend, Bush told CNN that becoming an official candidate will allow him to higher articulate his message to the American people.

‘I think this transition to a candidacy enables me to be more direct about my advocacy associated with leadership abilities essential for the next president to fix a few things,’ Bush said while in, of all places, Estonia this weekend. ‘ And being a prospect, contrary to somebody who has been listening and learning along the way, we’ll offer alternatives to the trail we’re on aswell, therefore i will be more specific on policy.’

Historically Opposed to Gambling

It’s uncertain whether we’ll get any details on Bush’s video gaming policies, but his previous stances on gambling problems whilst 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’s hard to imagine he will be any friendlier to online poker and casino games than he was with their land-based counterparts.

Perhaps more importantly to their campaign, Bush may need to win over conservative voters who’ren’t fundamentally on board together with stances on immigration and training, both areas where his wife may become a campaign that is important. 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.

New Jersey Casinos See Online And Live Gains In May

The Golden Nugget has seen huge gains in its online gambling operations within the year that is past. (Image:

New Jersey’s online gambling market continues to grow, assisting strengthen the remaining eight casinos still running in Atlantic City.

But while the general figures are positive, perhaps not all games and casinos are sharing equally in the fortune that is good.

According to the New Jersey Department of Gaming Enforcement (DGE), online gambling revenues were as much as $12.47 million in May.

That represents an increase greater than 19 percent over last May, when the sites brought in simply $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 just under $1.93 million in might, down from $2.27 million in the same month a year ago.

That figure marks the second-lowest monthly revenue for internet poker in New Jersey, with only last November trailing the most month that is recent.

Once in charge of a quarter or more of online gambling revenues in nj, poker is now just about 15 % of this market.

On the poker aspect, the 888/World number of Poker partnership felt all of the damage. The $831,799 they brought in through their Internet poker partnership had been an all-time low, while their only competitor in the state, Borgata/partypoker, held fairly steady.

Holding steady ended up being a theme for the Borgata, as its general Internet revenues were down by about one percent as well.

It is still the market that is online, 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 seen their online offerings remove, none less compared to the Golden Nugget.

The casino has taken full advantage of the fact that is now operating through them because the closure associated with the Trump Plaza, and has ridden that new partnership to a clear place that is second hawaii’s iGaming landscape.

Real time Numbers Promising for Atlantic City

But while the online figures may show a combination 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 percent a lot more than those exact same eight casinos took in year that is last.

To be sure, the pie that is overall still smaller: if you consist of three more gambling enterprises that have been operating last might but have since closed, the revenues are down by about 9 %.

However with fewer gambling enterprises in the mix, the May revenues still represent a exceptional result for the casinos that are nevertheless in operation.

‘That’s a strong showing for what our detractors say is a weak market,’ stated brand New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look during the outcomes for the main one month or for the first five months with this year, total video gaming income is up for the existing operators. The dimensions of the market could be smaller, but the wellness associated with current operators is getting stronger.’

The winner that is biggest ended up being Caesars, which saw its month-to-month revenues enhance by 51 per cent over last might. That was largely due to a month that is particularly unlucky high-stakes table games last year for Caesars.

Just two casinos were down year-over-year, like the Borgata, which saw revenues fall by 4.7 % but nonetheless effortlessly led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, that is in the act of being obtained by Carl Icahn.

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