
Carl Icahn was not joking about closing the Trump Taj Mahal casino in Atlantic City.
Icahn will be chalking up the ‘investment’ as 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 moving forward with shutting the resort.
Members associated with the Unite Here Local 54 union walked from the job on 1 in protest of health and pension benefits july. After a month of much picketing but negotiating that is little Icahn announced his plans to shutter the house this fall.
There was some hope that the two sides could bond and give a wide berth to Atlantic City’s fifth casino closure since 2014. But on September 2, Icahn made his move official.
In newly released documents from the newest Jersey Division of Gaming Enforcement (DGE), Icahn’s company states, ‘As result of the ongoing neighborhood 54 strike and the huge amount of money 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 exactly how unused liquor will be discarded or sold, and whether the gambling machines will likely be transferred to a new casino or be saved somewhere else.
Casino chips must also be properly disposed.
The Trump Taj Mahal will continue accepting arrival reservations 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 shut at 5:59 am on Monday, October 10.
Taj Gift cards, credit, comp dollars, vouchers, and other promotional offers will all be rendered null and void on October 10.
Union Strikeout
The Trump Taj Mahal was built in 1990 at a price of $1 billion. Billed by Donald Trump as the ‘eighth wonder of the world,’ the now-GOP presidential candidate sold their Atlantic City interests in ’09 amid his casino organization’s bankruptcy and restructuring.
Trump sold TER to a hedge fund in 2009. After TER once again fell into bankruptcy, Icahn purchased the video gaming and hospitality business in 2016.
A bankruptcy court allowed Icahn to cancel particular benefits for Taj workers when he bought the casino that is bankrupt in March. He told the union that he needed more time before restoring benefits to their previous levels.
In addition to the renovation of these medical and pension benefits, regional 54 bartenders that are striking wait staff, chefs, and housekeeping service people also demanded increased hourly wages.
Icahn said it absolutely wasn’t feasible. That angered union officials who pointed out that Icahn will probably be worth tens of bucks.
‘ For a few million bucks, he could have had labor comfort and a content work force,’ Unite Here Local 54 President Bob McDevitt stated. ‘ But alternatively he’d rather slam the door shut.’
Icahn states he appears to lose $100 million regarding the Trump Taj Mahal.
‘McDevitt august has proven over and over that he has no regard for the truth,’ Icahn said in late. ‘ The best thing that could happen for Atlantic City is for McDevitt to go out of, and I also’d gladly purchase him a one-way 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 Sands CEO Sheldon Adelson (also certainly a Republican) have some tissue that is connective it comes to their views on who they wish becomes the next US president. Each are focused in slightly directions that are different however their six quantities of separation whenever it comes to their eyesight for America going forward makes them political bedfellows nonetheless.
The FBI got served this week by Rep. Jason Chaffetz of Utah on the grounds that the agency has to turn all documents over relating to its research of Hillary Clinton’s emails. (Image: Committee on Oversight & Government Reform)
Adelson has outright come away in support of Donald Trump, donating a reputed $100 million with a super PAC to your billionaire that is fellow campaign efforts. While Chaffetz’ support may be somewhat more reluctant, his unbridled hatred for Democratic opponent Hillary Clinton has forced him to straight back the former casino mogul.
‘. . . [it’s a] no-brainer for me,’ said Chaffetz back May, even before Trump’s nomination was sealed up. ‘Hillary Clinton as president is a very scary scenario, so I think the nation will see it the way that is same. [Trump] was not my choice that is first my No. 1 goal is to maybe not allow Hillary Clinton to become the next president of the usa.’
House of Guards
Compared to that final 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 the committee relating to the agency’s investigation of Hillary Clinton’s individual email server. When Herring stated he could perhaps not make that commitment, Chaffetz issued a subpoena right then and there.
‘I’m going to issue a subpoena, and I also’m going to accomplish it right now,’ Chaffetz, who chairs the committee, said. ‘I’ve signed this subpoena . . . we would like complete file. You can accept service on behalf of the FBI?’
‘Certainly,’ Herring answered.
‘You are hereby served,’ Chaffetz declared.
Once known in the video gaming community simply as billionaire casino bigwig Adelson’s congressional RAWA puppet, Chaffetz has ver quickly become enemy number 1 associated with 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, back in February of 2015. The measure has largely failed to gain any traction in either branch of Congress, however it’s not likely Adelson will let it die, having vowed to ‘spend whatever it requires’ to view it pass.
The reality, and Everything But the Truth
Chaffetz believes Clinton might have put America in danger by hosting classified information on unsecured e-mail servers.
Ironically, one of RAWA’s main arguments is the web cannot be properly secured or regulated, and so online casinos cannot adequately protect against underage gambling, money laundering, and other illegal tasks.
In July, Chaffetz’ Oversight Committee grilled FBI Director James Comey, also as US Attorney General Loretta Lynch, on what the FBI found the conclusion they would forego recommending criminal costs against the Democratic candidate.
Chaffetz described himself at that right time being a ‘kid in a candy store’ while interrogating Comey. He asked why Clinton, whom testified under oath that she didn’t send or receive classified information on her personal server, wasn’t charged whenever the FBI admitted it found evidence to the contrary.
Comey deflected by explaining that the FBI discovered no intent on Clinton’s component 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’s perhaps not the head of fish and wildlife!’
Lynch appeared ahead of the committee the following week, but provided insight that is little further.
‘having less clarity you give this body is pretty stunning,’ Chaffetz told the US Attorney General.
Not Letting Up
Among the things Chaffetz and other gambling that is anti-online Adelson share is a determination to dig in and not let it go.
Worth an estimated $30 billion and now 83-years-old, Adelson is showing no signs of slowing straight down. The Las Vegas Sands founder continues to pressure Chaffetz in the home, and Sen. Lindsey Graham (R-South Carolina) into the Senate, to push through RAWA.
Adelson is busier than your typical senior citizen. His business exposed its $2.5 billion resort that is parisian Macau on Tuesday, and he’s also earnestly trying to bring professional football to vegas. But he isn’t nearly as enthusiastic about the prospect of daily fantasy sports (DFS) online while he believes it’s time for the NFL to embrace sports betting.
‘I think [DFS] exploits people that are poor’ Adelson told Yahoo Finance recently. ‘I am able to earn money within an honest way, as a form of activity. But why do i would like it, the fantasy recreations? I believe it’s immoral.’
NCAA Moves Seven Championships From North Carolina Over ‘Civil Rights Protections’
North Carolina’s place on bathrooms has flushed seven NCAA national championship events 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 championship that is national from North Carolina due to the state’s law that mandates persons use public restroom facilities that correspond with the sex that is noted on their birth certificates.
Vermont’s House Bill 2, commonly known as the ‘Public Facilities Privacy & Security Act,’ was passed in the continuing state legislature in March. The statute forbids homosexual, bisexual, transgender, genderqueer, and intersex people from utilizing the gender bathroom they many 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 approximately more than the opportunity to participate in college activities, or even compete for championships,’ NCAA President Mark Emmert said in a statement. ‘ We believe in providing a safe and respectful environment at our events and are committed to providing the experience that is best easy for college athletes, fans and everyone participating in our championships.’
Hosting national championships is big business for state and regional economies. The sporting competitions can boost revenues at also casinos.
Glendale, Arizona, estimated its hosting of the NCAA College Football National Championship in January generated a financial effect of $300 million and 60,000 hotel visitor space nights. The Desert Diamond West Valley Casino opened just weeks prior to the game that is big take benefit of the influx of tourists to your Phoenix area.
Significant Impact
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 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 Guys’s and Women’s Soccer Championships
Greenville, NC
2017 Division We Ladies’ Golf Championship
North Carolina Attorney General Roy Cooper says it is time to repeal HB 2. ‘Enough is enough,’ Cooper said in statement. ‘ We have to repeal this law and get our state back on course.
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 males’s and women’s groups together as singular, unified, unisex teams,’ Mueller said. ‘you have a women’s team? if you should be unwilling to have women’s bathrooms and locker spaces, how do’
NCAA’s Method or the Highway
Even though the NCAA truly has every right to myfreepokies.com host its competitions wherever it views fit, an attitude is presented by the organization of moral superiority that is criticized by some.
The college sports governing body is adamantly against sports wagering and recently won a lawsuit against nj-new jersey that prevents hawaii from legalizing gambling on athletics. The NCAA also opposes daily fantasy sports (DFS).
DraftKings and FanDuel, the two DFS that are leading in the US, removed university contests from their platforms in March.
The NCAA is a not-for-profit organization, meaning it does not pay fees on many of its income. In 2015, the NCAA produced about $1 billion in revenue.
Players have advocated for a few sort of compensation in the last few years, but to date the NCAA has won those lawsuits as well.
