
Carl Icahn was not joking about closing the Trump Taj Mahal casino in Atlantic City.
Icahn will be chalking up the ‘investment’ as 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 closing the resort.
Members associated with Unite Here Local 54 union walked from the job on 1 in protest of health and pension benefits july. Following a month of much picketing but little negotiating, Icahn announced his plans to shutter the property this fall.
There was some hope that the 2 sides could get together and give a wide berth to Atlantic City’s fifth casino closure since 2014. But on 2, Icahn made his move official september.
In newly released paperwork from the latest Jersey Division of Gaming Enforcement (DGE), Icahn’s company states, ‘As a total results of the ongoing Local 54 hit 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 just how liquor that is unused be discarded or sold, and whether the gambling machines will likely be utilized in a new casino or be stored somewhere else.
Casino chips must be properly disposed also.
The Trump Taj Mahal will stay accepting arrival reservations until Saturday, October 8. All guests must checkout of the hotel by 12 noon the following day.
The casino and resort will formally close at 5:59 am on Monday, October 10.
Taj Gift cards, credit, comp bucks, 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 offered their Atlantic City interests last year amid their casino business’s bankruptcy and restructuring.
Trump offered TER up to a hedge investment in 2009. After TER yet again fell into bankruptcy, Icahn bought the video gaming and hospitality business in 2016.
A bankruptcy court allowed Icahn to cancel certain benefits for Taj workers when he bought the bankrupt casino resort in March. He told the union that he needed more time before restoring benefits to their levels that are previous.
In addition to the renovation of these medical and pension advantages, regional 54 striking bartenders, wait staff, chefs, and housekeeping service people also demanded increased hourly wages.
Icahn stated it wasn’t feasible. That angered union officials whom pointed out that Icahn is worth tens of dollars.
‘ For a few million bucks, he could have had labor peace and a content work force,’ Unite Here Local 54 President Bob McDevitt stated. ‘ But instead he’d rather slam the home shut.’
Icahn says he appears to lose $100 million regarding the Trump Taj Mahal.
‘McDevitt has proven repeatedly that he doesn’t have regard for the truth,’ Icahn said in late August. ‘ The best thing that could happen for Atlantic City could be for McDevitt to leave, and I also’d joyfully buy him a one-way plane solution and pay 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 definitely a Republican) have some connective muscle when it comes down for their views on who they wish becomes the next US president. Each can be focused in slightly different directions, but their six quantities of separation when it comes down to their eyesight for America going ahead makes them political bedfellows nonetheless.
The FBI got served this week by Rep. Jason Chaffetz of Utah regarding the grounds that the agency needs to turn over all documents associated with its investigation of Hillary Clinton’s emails. (Image: Committee on Oversight & Government Reform)
Adelson has outright come down in support of Donald Trump, donating a reputed $100 million with 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 forced him to back the casino mogul that is former.
‘. . . [it’s a] no-brainer for me personally,’ said Chaffetz back in 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 exact same way. [Trump] wasn’t my first choice, but my No. 1 goal is to perhaps not allow Hillary Clinton to become the next president of america.’
Home of Guards
Compared to that end, Chaffetz has no intention of letting Clinton’s ongoing email 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 over all documents to your committee relating to the agency’s investigation of Hillary Clinton’s individual email server. When Herring stated he could not make that commitment, Chaffetz issued a subpoena immediately.
‘I’m going to issue a subpoena, and I’m going to do it today,’ 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.
When known in the 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 gambling that is anti-online, right back in February of 2015. The measure has largely failed to gain any traction in either branch of Congress, but it’s not likely Adelson will allow it to die, having vowed to ‘spend whatever it requires’ to view it pass.
The facts, and Everything But the facts
Chaffetz thinks Clinton might have put America at an increased risk by hosting classified information on unsecured email servers.
Ironically, one of RAWA’s main arguments is that the web cannot be precisely guaranteed or regulated, and so online casinos cannot adequately protect against underage gambling, money laundering, and other activities that are illegal.
In July, Chaffetz’ Oversight Committee grilled FBI Director James Comey, as well that they would forego recommending dolphin treasure casino slot game criminal charges against the Democratic candidate as US Attorney General Loretta Lynch, on how the FBI came to the conclusion.
Chaffetz described himself at that right time as a ‘kid in a candy store’ while interrogating Comey. He asked why Clinton, who testified under oath that she did not send or receive classified information on her private server, wasn’t charged when the FBI admitted it found evidence towards the contrary.
Comey deflected by explaining that the FBI found no intent on Clinton’s component to provide false statements. Chaffetz responded, ‘It’s reasonable to imagine that the secretary of state would get classified information every moment! She actually is maybe not the relative head of seafood and wildlife!’
Lynch appeared prior to the committee the following week, but provided insight that is little further.
‘The lack of clarity you give this body is pretty stunning,’ Chaffetz told the US Attorney General.
Not Letting Up
One of many things Chaffetz and other gambling that is anti-online Adelson share is a dedication to dig in and perhaps not let it go.
Worth an estimated $30 billion and now 83-years-old, Adelson is showing no signs of slowing down. The Las Vegas Sands founder continues to pressure Chaffetz within the homely house, and Sen. Lindsey Graham (R-South Carolina) into the Senate, to push through RAWA.
Adelson is busier than your typical senior citizen. Their business exposed its $2.5 billion Parisian resort in Macau on Tuesday, and he’s additionally earnestly trying to bring expert football to Las Vegas. But while he believes it is time for the NFL to embrace sports wagering, he isn’t almost as enthusiastic about the prospect of day-to-day dream sports (DFS) online.
‘I think [DFS] exploits people that are poor’ Adelson told Yahoo Finance recently. ‘I can make money within an way that is honest as a kind of entertainment. But why do it is needed by me, the fantasy recreations? I think it is immoral.’
NCAA Moves Seven Championships From North Carolina Over ‘Civil Rights Protections’
North Carolina’s place on bathrooms has flushed seven NCAA championship that is national out 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 nationwide championship occasions from North Carolina due to the state’s law that mandates persons utilize public restroom facilities that correspond with the sex that is noted on their birth certificates.
North Carolina’s House Bill 2, popularly known as the ‘Public Facilities Privacy & Security Act,’ was passed in the continuing state legislature in March. The statute prohibits homosexual, bisexual, transgender, genderqueer, and intersex folks from utilizing the gender bathroom they many closely identify with.
The legislation has been 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 a lot more than the opportunity to engage in college recreations, or compete for championships even,’ 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 taking part inside our championships.’
Hosting national championships is big business for state and neighborhood economies. The sporting competitions can boost revenues at also casinos.
Glendale, Arizona, estimated its web hosting of the NCAA College Football National Championship in January generated a economic impact of $300 million and 60,000 hotel visitor room nights. The Desert Diamond West Valley Casino launched just weeks before the game that is big simply take advantage of the influx of tourists towards the 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 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 I Ladies’ Golf Championship
Vermont Attorney General Roy Cooper says it is time to repeal HB 2. ‘Enough is enough,’ Cooper said in statement. ‘ We must repeal this law and back get our state on course.
But North Carolina Republic Party spokeswoman Kami Mueller said the NCAA’s outrage is hypocritical and unwarranted.
‘I genuinely enjoy the NCAA merging all males’s and ladies’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 spaces, how do’
NCAA’s Means or the Highway
Even though the NCAA undoubtedly has every right to 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 gambling and recently won a lawsuit against nj-new jersey that prevents hawaii from legalizing gambling on athletics. The NCAA also opposes fantasy that is daily (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 doesn’t pay fees on many of its income. In 2015, the NCAA generated about $1 billion in revenue.
Players have advocated for a few sort of compensation in modern times, but to date the NCAA has won those lawsuits also.