Carl Icahn was not joking about closing the Trump Taj Mahal casino in Atlantic City.
Icahn will be chalking up the ‘investment’ being a $100 million loss.
Thousands of jobs will be lost and the livelihoods of many families will be thrust into jeopardy.
It’s strike three for the Local 54 union at the Trump Taj Mahal, as Carl Icahn is dancing with closing the resort.
Members of the Unite Here Local 54 union walked off the job on July 1 in protest of health and pension benefits. After per month of much picketing but negotiating that is little Icahn announced their plans to shutter the home this fall.
There was some hope that the 2 sides could get together and give a wide berth to Atlantic City’s 5th casino closure since 2014. But on September 2, Icahn made his move official.
In newly released paperwork from the brand new Jersey Division of Gaming Enforcement (DGE), Icahn’s company states, ‘As a total result of the ongoing regional 54 attack and the vast amounts that it has cost the Taj Mahal, Trump Entertainment Resorts (TER) no longer sees a path to profitability.’
Noon Check-out
DGE regulations require casinos to detail their closing plans. Owners must explain how liquor that is unused be discarded or sold, and whether the gambling machines is used in a new casino or be stored somewhere else.
Casino chips must be properly disposed also.
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 day that is following.
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.
Union Strikeout
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 offered their Atlantic City interests last year amid their casino business’s bankruptcy and restructuring.
Trump sold TER up to a hedge fund in 2009. After TER again fell into bankruptcy, Icahn purchased the gaming and hospitality business in 2016.
A bankruptcy court permitted Icahn to cancel specific benefits for Taj workers as he bought the bankrupt casino resort in March. He told the union that he required more time before restoring benefits with their levels that are previous.
In addition to the renovation of these medical and pension advantages, regional 54 bartenders that are striking wait staff, chefs, and housekeeping service members also demanded increased hourly wages.
Icahn said it had beenn’t feasible. That angered union officials who pointed out that Icahn dolphin treasure free slots may be worth tens of bucks.
‘ For the few million bucks, he could have had labor comfort and a work that is content,’ Unite right Here Local 54 President Bob McDevitt stated. ‘ But instead he’d rather slam the hinged home shut.’
Icahn claims he stands to lose $100 million on the Trump Taj Mahal.
‘McDevitt has proven over repeatedly that he has no regard for the truth,’ Icahn stated in late August. ‘ The best thing that could happen for Atlantic City would be for McDevitt to go out of, and I also’d cheerfully buy him a one-way air plane ticket and spend his moving costs.’
RAWA Supporters Chaffetz and Adelson Find Common Ground in Politics and Internet Security
Utah Representative Jason Chaffetz (R) and Las vegas, nevada Sands CEO Sheldon Adelson (also certainly a Republican) possess some connective tissue when it comes down with their views on who they hope becomes the next United States president. Each are focused in slightly directions that are different but their six levels of separation whenever it comes down to their vision for America going ahead makes them political bedfellows nonetheless.
The FBI got served this week by Rep. Jason Chaffetz of Utah in the grounds that the agency needs to turn all documents over relating to its research of Hillary Clinton’s emails. (Image: Committee on Oversight & Government Reform)
Adelson has outright come out in support of Donald Trump, donating a reputed $100 million using a super PAC to the billionaire that is fellow campaign efforts. While Chaffetz’ support may be slightly more reluctant, their unbridled hatred for Democratic opponent Hillary Clinton has pushed him to straight back the former casino mogul.
‘. . . [it’s a] no-brainer for me personally,’ said Chaffetz back May, even before Trump’s nomination was sealed up. ‘Hillary Clinton as president is definitely a scary scenario, so I think the country will see it the way that is same. [Trump] was not my first choice, but my # 1 goal is to not allow Hillary Clinton to become the next president of the usa.’
Home of Guards
To that particular end, Chaffetz has no intention of letting Clinton’s ongoing e-mail debacle fade away.
During the 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 to your committee relating to the agency’s investigation of Hillary Clinton’s individual e-mail server. When Herring stated he could perhaps not make that commitment, Chaffetz issued a subpoena immediately.
‘I’m going to issue a subpoena, and I’m going to complete it at this time,’ Chaffetz, who chairs the committee, said. ‘I’ve signed this subpoena . . . we would like the file that is full. You can accept service on behalf of the FBI?’
‘Certainly,’ Herring answered.
‘You are hereby served,’ Chaffetz declared.
Once known into the video gaming community simply as billionaire casino bigwig Adelson’s congressional RAWA puppet, Chaffetz has ver quickly become enemy number 1 of the FBI. The Oversight’s meeting this week, titled ‘Classifications and Redactions in FBI’s Investigative File,’ was for federal agencies to describe why their reports to Congress came with significant redactions and omissions of proof.
The Utah congressman introduced the Restoration of America’s Wire Act (RAWA), the anti-online gambling bill, straight 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 Truth, and Everything But the Truth
Chaffetz believes Clinton might have put America in danger by hosting classified information on unsecured email servers.
Ironically, one of RAWA’s main arguments is the web cannot be correctly secured or controlled, and therefore online casinos cannot adequately protect against underage gambling, money laundering, and other illegal activities.
In July, Chaffetz’ Oversight Committee grilled FBI Director James Comey, also as US Attorney General Loretta Lynch, how the FBI came to the conclusion they would forego recommending criminal charges against the Democratic candidate.
Chaffetz described himself at that time as being a ‘kid in a candy shop’ while interrogating Comey. He asked why Clinton, whom testified under oath that she didn’t send or receive classified informative data on her private host, wasn’t charged whenever the FBI admitted it found evidence to the contrary.
Comey deflected by describing that the FBI found no intent on Clinton’s part to provide false statements. Chaffetz responded, ‘It’s reasonable to think that the secretary of state would get classified information every minute! She’s maybe not the mind of fish and wildlife!’
Lynch appeared before 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 united states Attorney General.
Not Permitting Up
Among the things Chaffetz and fellow anti-online gambling proponent Adelson share is a dedication to dig in and not let go.
Worth an estimated $30 billion and now 83-years-old, Adelson is showing no signs of slowing down. The nevada Sands founder continues to stress Chaffetz into the homely house, and Sen. Lindsey Graham (R-South Carolina) within the Senate, to push through RAWA.
Adelson is busier than your typical senior citizen. Their company started its $2.5 billion Parisian resort in Macau on Tuesday, and he’s additionally earnestly working to bring professional football to Las vegas, nevada. But while he believes it is time for the NFL to embrace sports gambling, he isn’t almost as enthusiastic about the possibility of daily fantasy sports (DFS) online.
‘I think [DFS] exploits people that are poor’ Adelson told Yahoo Finance recently. ‘I am able to make money in a way that is honest as being a form of activity. But why do it is needed by me, the fantasy recreations? I believe it’s immoral.’
NCAA Moves Seven Championships From North Carolina Over ‘Civil Rights Protections’
North Carolina’s position on bathrooms has flushed seven NCAA championship that is national 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 going seven nationwide championship occasions from North Carolina as a result of the state’s law that mandates individuals use public restroom facilities that correspond with the sex that is listed on their birth certificates.
North Carolina’s House Bill 2, popularly known as the ‘Public places Privacy & Security Act,’ was passed in the continuing state legislature in March. The statute prohibits gay, bisexual, transgender, genderqueer, and intersex individuals from using the gender bathroom they most closely identify with.
The law 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 about more than the ability to engage in college activities, or even compete for championships,’ NCAA President Mark Emmert said in a statement. ‘ We have confidence in providing a safe and respectful environment at our events and are committed to providing the most effective experience feasible for college athletes, fans and everyone engaging inside our championships.’
Hosting national championships is big business for state and local economies. The sporting contests can also boost revenues at casinos.
Glendale, Arizona, estimated its web hosting of the NCAA university Football National Championship in January generated a economic effect of $300 million and 60,000 hotel visitor space evenings. The Desert Diamond West Valley Casino exposed just weeks before the big game to simply take advantage of the influx of tourists to the Phoenix area.
Substantial Impact
Though none of the canceled activities carry the marquee of hosting the NCAA College Football Playoff National Championship, the economic loss is still considerable.
The seven NCAA championship activities going are:
Cary, NC
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
Greensboro, NC
2016 Division I Men’s Basketball Championship, first/second rounds
2016 Division III Men’s and Ladies’ Soccer Championships
Greenville, NC
2017 Division We Ladies’ Golf Championship
Vermont Attorney General Roy Cooper claims it is time to repeal HB 2. ‘Enough is enough,’ Cooper said in statement. ‘ We need to repeal this law and back get our state on track.
But North Carolina Republic Party spokeswoman Kami Mueller said the NCAA’s outrage is hypocritical and unwarranted.
‘we genuinely anticipate the NCAA merging all men’s and women’s groups together as singular, unified, unisex groups,’ Mueller said. ‘you have a women’s team? if you’re unwilling to have women’s bathrooms and locker rooms, how do’
NCAA’s Method or the Highway
Even though the NCAA undoubtedly has every right to host its competitions wherever it views fit, the organization does present an attitude of moral superiority that is criticized by some.
The college sports governing body is adamantly against sports wagering and recently won a lawsuit against New Jersey that prevents the state 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 doesn’t pay fees on most of its income. In 2015, the NCAA created about $1 billion in revenue.
Players have actually advocated for a few sort of compensation in modern times, but to date the NCAA has won those lawsuits aswell.