The Trump Taj Mahal is approximately to become the 5th Atlantic City casino to shut its doors for good in 3 years. Its closure will signal a final end to your Trump casino brand once and for all.
Union members protest outside the Trump Taj Mahal, which will close its doorways on 4, 2016 september. Icahn Enterprises says it has lost $100 million on the venture.
In the midst of industrial action by members of the Unite Here Local 54 Union, who have been picketing the Taj for weeks, investor Carl Icahn has given up on the stricken casino and will shutter it permanently on September 4.
That closure date strikes right in the middle of Labor Day, which might be a coincidence that is wild or it may be a deliberate and final insult to the union, which Icahn blames for derailing his last-ditch attempt to save the Taj.
Icahn stepped in to rescue the casino in 2014, when its owners that are previous Trump Entertainment, declared bankruptcy. The billionaire corporate raider owned the majority of its $286 million debt, which he had been ready to convert into equity.
Icahn also said he was ready to invest $100 million in the home, if, and only if, he had been granted certain concessions by the city. These included the cessation that is temporary of pension and healthcare benefits, which may have become the focus of the squabble between Icahn Enterprises and also the casino workers’ union.
Out $100 Million
According to regional 54 frontrunner Bob McDevitt, Icahn has plumped for to ‘burn the Trump Taj Mahal down’ so as to ‘punish’ strikers.
‘ For the few million dollars, he may have had labor peace and a work that is content,’ McDevitt stated in a statement. ‘But instead he’d rather slam the entranceway shut on these long-lasting workers just to punish them and attempt to break their strike. In the long run, he’ll have to live in what he is done to working people in Atlantic City.’
But according to Tony Rodio, chief executive of Icahn Enterprises’ casino subsidiary Tropicana Entertainment, the workers’ demands have made the continued operation of the casino impossible.
‘Currently, the Taj is multimillions that are losing month, now using this hit, we see no road to profitability,’ Rodio said. He included that Icahn Enterprises had lost around $100 million since it took over the Taj.
Bankrupt Eighth Wonder
The casino was announced to function as the ‘eighth wonder for the world’ by the current Republican presidential nominee when he opened it in 1990, at a cost of $1 billion. In 1991, it became the very first wonder of the globe to go under since the Colossus of Rhodes was destroyed by an earthquake in 226 BC.
In 2009, Trump sold his Atlantic City casino interests to team of venture capitalists, who formed Trump Entertainment. He was able to negotiate a deal whereby he retained a ten percent stake in the casino in return for the use of his famous brand name while he has had nothing to do with the management of the Taj since.
However, in 2014, incensed by exactly what he saw as Trump Entertainment’s mismanagement associated with Taj and its sister Atlantic City property the Plaza, he litigated to have his name eliminated from both casinos. He later relented following their old buddy Icahn’s intervention. He additionally relinquished the stake when Trump Entertainment declared for bankruptcy security.
The Labor Day week-end closure of this Trump Taj Mahal will keep just seven gambling enterprises running into the beachside resort, which has been fighting problems that are financial years.
FBI Busts Major Mafia Crime Syndicate, Included Illegal Gambling Ops
A Mafia that is massive arm engaged in illegal gambling, extortion, gun-running, and fraudulence, among other crimes, was smashed by the FBI on Thursday. Bureau agents arrested 46 alleged mob associates, soldiers, capos, and one reputed boss, all in locations up and down the East Coast.
Joey Merlino, the reputed boss associated with the Philadelphia Mafia, was one of 46 alleged mobsters arrested up and down the East Coast on Thursday, after A fbi that is major and infiltration and bust. (Image: miamiherald.com)
Alleged users of the Genovese, Gambino, Lucchese, and Bonanno criminal activity families, four of the New York Mob’s top five families, were taken into custody. Key among those arrested ended up being Joseph ‘Skinny Joey’ Merlino, the boss that is alleged of Philadelphia Mob. Merlino has beaten murder costs into the past, but served jail time for racketeering.
The range of suspects reads like something out of ‘Casino’ or ‘Goodfellas,’ with nicknames like ‘Tony the Cripple,’ ‘Mustache Pat,’ ‘Muscles,’ ‘Tugboat,’ ‘Nicky the Wig,’ and ‘Big Vinny.’
Diversification associated with the Mob
The scale that is sheer scope of the operations shows that the Mafia is still a force to be reckoned with in present-day America. The vast empire that is criminal stretched from Massachusetts to Florida, said US Attorney for the Southern District of New York Preet Bharara.
Each of the defendants are alleged to be section of a group referred to as the East Coast LCN Enterprise, an ‘organized unlawful enterprise,’ according to the indictment, that has been formed following a pact between your four New that is targeted York and the Philadelphia Mafia.
‘ The Mob remains a scourge on this populous city and around the country,’ said Bharara. ‘From loan-sharking and illegal gambling, to credit card and health care fraud, and even firearms trafficking, today’s Mafia is fully diversified.
‘As alleged, threatening to assault, maim, and kill people who block off the road of these criminal schemes continues to be the play that is go-to the Mob’s playbook.’
Bharara was notably the lead prosecutor in the Black Friday busts of major poker sites PokerStars and Full Tilt in 2011. The sites were, at that time, running outside the range of legality in the usa.
The arrests follow a joint investigation between the FBI and New York’s Organized Crime Task Force (OCTF), which spanned several years and involved infiltration by an undercover FBI agent to the ranks of the organization.
Investigators have amassed several thousand hours of testimony collected through wiretaps and the cooperation of a witness. The 32-page indictment, unsealed on Thursday, details incidents of assaults, threats, and arson.
Prohibited gambling had been a big source of the organization’s revenue, in accordance with the indictment. It owned an establishment in New York that held poker tournaments and took bets on horses, and additionally operated sports businesses that are betting in ny, Florida, New Jersey, and Costa Rica.
All defendants plead not responsible, and the majority had been released on $300,000 relationship, while some were retained, without any bail having been set.
Summer Olympics Underway in Rio as City’s Preparation Takes Center Stage
Over 11,000 athletes come in Rio de Janeiro to compete during the 2016 Summer Olympics, nevertheless the greatest victory should come by way of a safe and secure 16-day event. (Image: Jewel Samad/AFP)
The 2016 Summer Olympics officially kickoff this in Rio de Janeiro, and while the athletes, fans, and media are ready for the competitions, it isn’t quite so clear that the city itself is evening.
Opening ceremonies begin at 8 pm local time in Rio.
The city that is brazilian 60 minutes ahead of the United States’ coveted Eastern time area. NBC will wait its coverage by an full hour to air the event at 8 pm ET rather of 7 pm, much towards the dismay of many fans.
More than 11,000 athletes will compete in 39 sport disciplines now through the closing ceremonies on 21 august. But after years of planning and preparation, or lack thereof on the part of Rio, plenty of serious concerns linger as the globe’s greatest sporting tournament starts.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will likely have a impact that is lasting the games. Brazil is the first South American country to play host to an Olympics, as well as its severe shortcomings in adequately preparing Rio is expected to push Olympic organizers right back to keeping myfreepokies.com the occasion in more stable areas associated with globe.
Africa is currently the only continent to never host an Olympics. That likely won’t change anytime quickly.
While Rio’s mishandling will have long-term consequences, the International Olympic Committee (IOC) and countries across the world are more focused on the next 16 days in Rio.
- Zika: The most problem that is serious Rio is actually the smallest. Mosquitos infected with Zika, a virus that will cause severe birth defects, continues to be rampant.
- Water: Sewage-infested waters surrounding the city contain high degrees of germs. Open-water swimmers have been told to not submerge their heads while competing.
- Crime: Rio is an impoverished city where some locals have nothing to lose. And with a local police force agency that pales compared to first-world countries, criminal activity is of utmost concern. a 22-year-old moroccan boxer was arrested just this early morning after trying to rape two maids.
- Terrorism: The United States has over 1,000 spies in Rio monitoring terror threats and doing every thing they can to keep Team USA safe. Army forces are on standby.
- Housing: Several countries have actually deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a cruise that is luxurious capable of accommodating 296 guests for his or her stay static in Rio.
Let the Betting Begin
In Nevada and nevada, the sportsbooks have it right more often it wrong than they get. Oddsmakers in Sin City are experts at setting lines on sports they know in and out, but this year’s Olympics presents a series of challenges for the bookies, and possibly a series of preferred odds for gamblers.
For the first time since the 2000 Olympics, Nevada sportsbooks are offering odds regarding the games. The Nevada Gaming Commission opted to add certain contests that are amateur February of 2015.
While every book in the Silver State knows football, baseball, baseball, and ice hockey, numerous aren’t quite as familiar with gymnastics, curling, speed walking, javelin, and other Olympic disciplines.
If you’ve been a follower that is devout of slalom or handball and think you realize more than Vegas, now might end up being the time to place a wager.
For the remainder country outside of Nevada edges, daily fantasy sports operators offer a smattering of contests.
Hillary Clinton Campaigns Through Nevada, Condemning Donald Trump
Hillary Clinton doesn’t believe her GOP opponent Donald Trump is competent sufficient to assume the Oval Office. The Democratic presidential nominee made two stops this week in the all-important move state of Nevada, where she invested an amazing level of her time decrying Trump’s company record and general disposition.
Hillary Clinton spent a great amount of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, along with a week that is devastating her opponent, is working. (Image: Andrew Harnik/AP)
Showing up before A las vegas crowd on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked their record that is corporate in Atlantic City and vegas.
‘i went to Atlantic City and I met a true number of small enterprises, also as workers, plumbing technicians and painters, cup installers, marble installers, at one of his true resorts. They finished the work . . . and they presented their bill, therefore the Trump people said, ‘No, we’re perhaps not going to pay you,” Clinton stated.
Though Trump is largely taken off the Trump Taj Mahal since 2009, when Trump Entertainment Resorts filed for bankruptcy, the home, and along side it the Trump casino brand, will shut down for good on Labor Day.
Before criticizing Trump, Clinton praised Nevada Senator Harry Reid (D) who introduced the Democratic candidate at the event. Reid, who’s served in Congress representing Nevada since 1983, is pro-gambling, but has also expressed help for the Restoration of America’s Wire Act (RAWA), the anti-online gambling measure, an uncommon stance in the 1st state to legalize Internet poker in the usa.