Carl Icahn Awarded Trump Taj Mahal as Battle with Union Continues

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Carl Icahn would like to revitalize the Taj Mahal in Atlantic City and save yourself thousands of jobs in the process, but it is said by him can not be done unless local union workers are ready to compromise. Unhappy union workers, shown here 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 was authorized by the New 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 believe whenever you pull into the Taj Mahal, it’s dirty, it is dated, and it requires to be freshened up,’ Trump Entertainment CEO Robert Griffin stated associated with the settlement. ‘we feel extremely highly that the Taj Mahal will do well.’

That will be no task that is easy nevertheless, because 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 percent full during the first three months regarding the year, a drastically reduced rate than that of one other seven casino hotels that averaged occupancy levels of around 70 to 85 percent.

Icahn’t Stand Unions

Icahn is optimistic which he can restore the Taj to its former days of glory. But one key condition the mogul insists on is that neighborhood 54 additionally the UNITE HERE unions stop their pursuit of getting a court mandate Icahn to reinstate benefits for employees that have been terminated by Trump Entertainment during bankruptcy procedures.

On Wednesday, Icahn told reporters he sees the Taj being reestablished much like he did with the Tropicana, the other Atlantic City casino under their ownership.

‘Although regional 54 seems fixated at all costs on damaging the Taj, and risking its closure and the loss in almost 3,000 jobs, I have always been 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 cost that is detrimental its users.

‘It can be an undisputable fact that your union leadership refused to negotiate with the Taj as the losses were mounting plus it was pushed into bankruptcy. Your union leadership declined 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.


The once bustling gambling mecca associated with coast that is east now home to just eight total casinos, and Icahn now has control of two, or 25 % of the town’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 game of Monopoly is situated.

Thought it’s understandable union workers want and need their health insurance coverage and retirement advantages reinstated, their tactics might be going about it within the way that is wrong. This week, Local 54 delivered a page to Icahn’s midtown Manhattan workplace with a list of its demands, along with an apple pie, a dig in response to Icahn saying ‘apple pie and roses isn’t the way the globe works’ previously this year.

Jeb Bush Latest GOP Candidate to Enter Republican Presidential Race

Today officially official: After many months of unofficial fundraising, Jeb Bush confirmed his bid for the 2016 GOP nomination. The son and cousin of two past US presidents is hoping to separate his campaign from his rather family name that is famous. Type of. (Image: Erik Schelzig/AP)

Jeb Bush joined the ever-expanding crowd of Republican candidates within the 2016 election that is presidential Monday, having an statement at Miami-Dade College in the afternoon. But unlike many of the over a dozen prospects within the GOP field, Bush will be hoping to operate from a position of strength, as he will be one associated with favorites for the party’s nomination within the early going for the campaign.

‘ In virtually any language my message will 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 prove critical in helping him reach Hispanic voters. (Image: Bill Ingalls/NASA/Getty)

Columba Bush, who is hitched to the politician for 41 years and had been originally from León, Guanajuato in Mexico, will certainly be an important force in a country grappling with immigration and dual-language problems on a basis that is almost daily.

In fact, the story goes that Mrs. Bush did not also speak English whenever she married Jeb back in 1974. Her mother had been reportedly a migrant worker and food server.

Bush may require the help. Although the Florida that is former governor usually the first choice in national polls of Republican voters, though that advantage is extremely narrow. In fact, it may be much more accurate to have a look at Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders only at that 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 money that is raising.

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

He will also have endorsements that are numerous Republican establishment figures, in addition to a name that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is trying never to drive on at least the most obvious of coattails. After all, that famous name that is last a double-edged sword, based on which voters you’re chatting to.

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

Campaign Was 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 prevent officially launching a campaign company until now. On the weekend, Bush told CNN that becoming an official candidate will allow him to better articulate his message to the US individuals.

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

Historically Opposed to Gambling

It is uncertain whether we’ll get any details on Bush’s video gaming policies, but his past 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 would be any friendlier to online poker and casino games than he was to their land-based counterparts.

Perhaps moreover to their campaign, Bush may have to win over conservative voters who aren’t fundamentally on board with his stances on immigration and training, both areas where their 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 their campaign manager just last week due 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 on the year that is past. (Image:

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 figures are positive, not all games and casinos are sharing equally within the fortune that is good.

In line with the nj-new Jersey Department of Gaming Enforcement (DGE), online gambling profits were up to $12.47 million in May.

That represents an increase of more than 19 % over last May, when the sites brought in just $10.47 million.

Online Casinos Up, Poker Down

But that growth has been fueled nearly entirely by online casinos. In contrast, online poker rooms are struggling. Internet poker brought in only under $1.93 million in May, down from $2.27 million in identical month year that is last.

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

Once responsible for a quarter or more of on the web gambling revenues in nj, poker is now just about 15 per cent regarding the market.

On the poker side of things, the 888/World Series of Poker partnership felt a lot of the harm. The $831,799 they introduced through their Internet poker partnership ended up being a low that is all-time 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 too.

Its still the market that is online, collecting about 32 percent of most revenues, but growth generally seems to have stalled: the company has yet to beat out its 2014 performance online in any thirty days this year.

On the other hand, a few companies have observed their online offerings take off, none less than the Golden Nugget.

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

Live Numbers Promising for Atlantic City

But while the online figures may show a mixture of ups and downs for Atlantic City’s casinos, the overall numbers for the industry had been very encouraging in May. Overall, casinos won $208.6 million for the month, 5.3 percent a lot more than those same eight casinos took in last year.

To be sure, the pie that is overall still smaller: in the event that you include three more gambling enterprises which were operating last might but have since closed, the revenues are down by about 9 percent.

But with fewer casinos in the mix, the might revenues still represent a result that is excellent the casinos that are still in business.

‘That’s a showing that is strong what our detractors say is a weak market,’ said New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look at the outcomes for usually the one thirty days or for the very first five months of this 12 months, total video gaming revenue is up for the present operators. The dimensions of the marketplace can be smaller, but the health associated with current operators is getting stronger.’

The biggest winner had been Caesars, which saw its monthly revenues enhance by 51 percent over last might. That was largely due to a month that is particularly unlucky high-stakes table games last year for Caesars.

Only two casinos were down year-over-year, such as the Borgata, which saw revenues fall by 4.7 percent yet still easily led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, which will be in the act of being acquired by Carl Icahn.

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