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 of jobs along the way, but he says it cannot be done unless local union workers are willing to compromise. Unhappy union workers, shown only at a youthful 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 ended up being authorized by this 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’s dirty, it’s dated, and it takes to be freshened up,’ Trump Entertainment CEO Robert Griffin stated regarding the settlement. ‘we feel very strongly that the Taj Mahal will excel.’

That are going to be no task that is easy nonetheless, while 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 spaces were less than 50 per cent full during the first three months regarding the 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 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 having a court mandate Icahn to reinstate benefits for employees that were 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 his ownership.

‘Although neighborhood 54 seems fixated at all costs on damaging the Taj, and risking its closing and the loss of 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 national UNITE HERE organization up to a Ponzi scheme that uses dues to enrich the lives of its leadership at a cost that is detrimental its users.

‘It is definitely an undisputable fact that your union leadership refused to negotiate with the Taj as the losses were mounting and it was pushed into bankruptcy. Your union leadership refused to take into account any concession that would have helped keep the Taj afloat, and that’s because your jobs don’t matter to the union leadership,’ Icahn composed.

Icahnoclast

The once bustling gambling mecca regarding the east coast is now house to simply eight total casinos, and Icahn now has control of two, or 25 percent of the city’s video gaming venues. That means along with 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 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 this in the incorrect way. This week, Local 54 delivered a letter to Icahn’s midtown Manhattan workplace with a list of its demands, along side an apple pie, a dig in reaction to Icahn saying ‘apple pie and flowers isn’t what sort of globe works’ earlier 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 bro of two past United States presidents is hoping to separate his campaign from their instead famous family name. Type of. (Image: Erik Schelzig/AP)

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

‘ In any language my message are a good one, because I am certain that we could result in the decades simply ahead in the usa the maximum time ever to be alive in this world,’ the most recent Bush political dynasty candidate opined, using both English and Spanish to address the live and undoubtedly massive TV market.

Columba Bush, a first-generation immigrant that is mexican married Jeb 41 years back, 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 ended up being initially from León, Guanajuato in Mexico, will certainly be an important force in a country grappling with immigration and dual-language dilemmas on a just about every day basis.

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

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

Strong Establishment Candidate

That stated, Bush has lots of advantages that will make his campaign a strong one. For one, he will have no difficulty raising money.

One super PAC casino-online-australia.net that is supporting him had hoped to raise $100 million by the finish of June, even though they will 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 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 wanting not to ever drive on at least the 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 attempting to avoid being seen just as the next in line of succession, with a ‘royal’ aspect that numerous voters may 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’s got carefully skirted the line to avoid formally launching a campaign organization until now. Within the weekend, Bush told CNN that becoming a candidate that is official enable him to better articulate their message to the US people.

‘I think this transition up to a candidacy enables me to be more direct about my advocacy of this leadership abilities necessary for the next president to fix a few things,’ Bush said while in, of all places, Estonia on the weekend. ‘ And as a candidate, contrary to someone who has been listening and learning along the real way, we’ll offer alternatives to the path we’re on aswell, so I’ll be more specific on policy.’

Historically Opposed to Gambling

It’s uncertain whether we’ll get any information 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. His stances on Internet gambling are less clear, though it is difficult to imagine he would be any friendlier to online poker and casino games than he was for their counterparts that are land-based.

Perhaps moreover to his campaign, Bush may need to make an impression on conservative voters that aren’t always on board along with his stances on immigration and education, both areas where his wife can become a campaign that is important. He also recently struggled with questions over how he’d have managed the war in Iraq, and fired his 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 throughout the year that is past. (Image: GoldenNugget.com)

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

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

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

That represents an increase of more than 19 per cent 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 only under $1.93 million in might, down from $2.27 million in the same month this past year.

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 accountable for a quarter or even more of online gambling revenues in New Jersey, poker is now just about 15 % regarding the market.

The 888/World Series of Poker partnership felt most of the damage on the poker side of things. 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 was a theme for the Borgata, as its overall Internet revenues were down by about one percent too.

It is still the online market leader, collecting about 32 percent of all revenues, but growth seems to have stalled: the company has yet to beat out its 2014 performance online in any month this season.

On the other hand, a few companies have experienced their online offerings lose, none less compared to the Golden Nugget.

The casino has taken full advantage to the fact that BetfairCasino.com is now operating through them because the closure regarding 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 numbers may show a mix 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 per cent significantly more than those exact same eight casinos took in year that is last.

To be certain, the overall cake is still smaller: if you include three more gambling enterprises which were operating last May but have since closed, the revenues are down by about 9 percent.

But 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 New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look during the results for usually the one thirty days or for 1st five months with this 12 months, total video gaming revenue is up for the present operators. The size of the market might be smaller, but the health of the operators that are current getting stronger.’

The winner that is biggest was Caesars, which saw its month-to-month revenues increase by 51 % over last May. That was largely as a result of particularly unlucky month in high-stakes table games last year for Caesars.

Just two casinos were down year-over-year, such as the Borgata, which saw revenues fall by 4.7 per cent but still effortlessly led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, that will be in the act to be acquired by Carl Icahn.

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