
Carl Icahn wants to revitalize the Taj Mahal in Atlantic City and save your self thousands of jobs along the way, but it is said by him can’t be done unless local union workers are prepared to compromise. Unhappy union employees, shown only at an earlier protest, feel otherwise.
Billionaire Carl Icahn has acquired 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 brand new Jersey Casino Control Commission this week.
Icahn says he shall invest another $100 million to revitalize the resort also to keep the Atlantic City landmark solvent.
‘We think whenever you pull into the Taj Mahal, it is dirty, it is dated, and it needs to be freshened up,’ Trump Entertainment CEO Robert Griffin said regarding the settlement. ‘we feel very strongly that the Taj Mahal will do well.’
That will likely be no effortless task, nevertheless, because the north end boardwalk gambling venue continues to operate at a loss, including being $8.7 million in the red for the first quarter of 2015. The hotel’s 2,010 spaces were less than 50 percent full through the first three months regarding the year, a drastically lower price than that of one other seven casino hotels that averaged occupancy levels of around 70 to 85 %.
Icahn’t Stand Unions
Icahn is optimistic that he can restore the Taj to its former days of glory. But one condition that is key mogul insists on is that Local 54 while 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 his ownership.
‘Although Local 54 seems fixated at all costs on damaging the Taj, and risking its closure and the loss in almost 3,000 jobs, I am optimistic,’ Icahn said.
Icahn also released a letter to regional 54 Taj employees this week that likens the national UNITE HERE organization to a Ponzi scheme that uses dues to enrich the lives of its leadership at a cost that is detrimental its members.
‘It can be an fact that is undisputable your union leadership declined to negotiate with the Taj as its losses were mounting and it was pushed into bankruptcy. Your union leadership refused to consider any concession that would have helped keep the Taj afloat, and that’s because your jobs usually do not matter to the union leadership,’ Icahn penned.
Icahnoclast
The once bustling gambling mecca of this coast that is east now home to simply eight total casinos, and Icahn now has control of two, or 25 percent 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 little monopoly on town where the game of Monopoly is situated.
Thought it is understandable union workers want and need their health insurance and retirement advantages reinstated, their tactics might be going about this in the way that is wrong. This week, Local 54 delivered a letter to Icahn’s midtown Manhattan office by having a list of its demands, along with an apple pie, a dig in reaction to Icahn saying ‘apple pie and flowers 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 bro of two past US presidents is hoping to separate your lives his campaign from his rather famous family name. Kind of. (Image: Erik Schelzig/AP)
Jeb Bush joined the ever-expanding crowd of Republican candidates in the 2016 presidential election on Monday, having an statement at Miami-Dade College in the afternoon. But unlike most of the higher than a dozen prospects into the GOP field, Bush will be hoping to operate from a position of strength, as he shall be one of the favorites for the party’s nomination within the early going of this campaign.
‘ In virtually any language my message is going to be a confident one, because i’m certain that we are able to make the decades just ahead in the usa the maximum time ever to be alive these days,’ the most recent Bush political dynasty candidate opined, using both English and Spanish to address the live and certainly massive TV market.
Columba Bush, a first-generation immigrant that is mexican married Jeb 41 years back, could show critical in helping him reach Hispanic voters. (Image: Bill Ingalls/NASA/Getty)
Columba Bush, who has been hitched towards the politician for 41 years and was 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 reality, the story goes that Mrs. Bush did not speak English when even 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 Florida that is former governor usually the first choice in national polls of Republican voters, though that advantage is very narrow. In reality, it may become more accurate to look at Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders at 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 have no difficulty raising cash.
One super PAC that is supporting him had hoped to boost $100 million by the conclusion of June, and while they’ll almost certainly come up short of this goal, it’s clear there’ll be lots of funding for the Bush war chest.
He will have numerous endorsements from Republican establishment figures, as well as a name that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is attempting not to ever drive on at the very least the obvious of coattails. After all, that famous final name is a double-edged sword, depending 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 merely as the next in line of succession, with a ‘royal’ aspect that many voters may maybe 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 enable him to higher articulate his message to the American people.
‘I think this transition to a candidacy will allow me to be more direct about my advocacy associated with the leadership skills essential for the president that is next 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 way, we’ll offer alternatives to the path we’re on also, therefore i will be more specific on policy.’
Historically Opposed to Gambling
It’s uncertain whether we’ll get any information on Bush’s 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. His stances on Internet gambling are less clear, though it’s difficult to imagine he could be any friendlier to online poker and casino games than he was for their counterparts that are land-based.
Perhaps more importantly to their campaign, Bush may need to conquer conservative voters who’ren’t always on board together with stances on immigration and education, both areas where their wife may become a campaign that is important. He also recently struggled with questions over how he would have handled the war in Iraq, and fired their campaign manager week that is just last to squabbles inside his camp.
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, helping fortify the remaining eight casinos still operating in Atlantic City.
But while the overall numbers are positive, not all games and casinos are sharing equally in the fortune that is good.
Based on the nj-new Jersey Department of Gaming Enforcement (DGE), online gambling profits were around $12.47 million in May.
That represents a rise greater 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 almost entirely by online casinos. In contrast, online poker rooms are struggling. Internet poker brought in just under $1.93 million in might, down from $2.27 million in identical month a year ago.
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 in charge of a quarter or higher of on the web gambling revenues in nj, poker is now just about 15 per cent for 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 ended up being 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 also.
It’s still the online market leader, 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 this present year.
On the other hand, a few organizations have seen their online offerings take off, none less than the Golden Nugget.
The casino has taken full advantage of the fact that BetfairCasino.com is now operating through them since the closure associated with the Trump Plaza, and it has ridden that new partnership to a clear second invest hawaii’s iGaming landscape.
Real time Numbers Promising for Atlantic City
But while the figures that are online 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 year that is last.
To be certain, the pie that is overall still smaller: in the event that you consist of three more gambling enterprises which were operating last might but have since closed, the revenues are down by about 9 per cent.
But with fewer casinos in the mix, the might revenues still represent a exemplary result for the https://casino-online-australia.net/planet-7-oz-casino-review/ gambling enterprises that are nevertheless in operation.
‘That’s a showing that is strong what our detractors say is a weak market,’ said brand New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look at the outcomes for usually the one month or for the initial five months with this 12 months, total gaming revenue is up for the current operators. The dimensions of the marketplace might be smaller, but the health associated with the current operators is getting stronger.’
The winner that is biggest ended up being Caesars, which saw its month-to-month revenues enhance by 51 % over last May. 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, including the Borgata, which saw revenues fall by 4.7 percent but still easily led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, that is in the act to be obtained by Carl Icahn.
