The Trump Taj Mahal is all about to end up being the 5th Atlantic City casino to shut its doorways for good in 3 years. Its closing will signal a final end to the Trump casino brand for good.
Union members protest outside the Trump Taj Mahal, which will shut its doors on September 4, 2016. Icahn Enterprises says it has lost $100 million on the venture.
In the middle of commercial action by members of the Unite Here Local 54 Union, who’ve been picketing the Taj for months, investor Carl Icahn has abadndoned the casino that is stricken will shutter it permanently on September 4.
That closure date hits right in the center of Labor Day, that will be a coincidence that is wild or it could be a deliberate and final insult to the union, which Icahn blames for derailing his last-ditch try to conserve the Taj.
Icahn stepped in to rescue the casino in 2014, when its previous owners, Trump Entertainment, declared bankruptcy. The billionaire raider that is corporate the majority of its $286 million debt, which he ended up being prepared to convert into equity.
Icahn also said he was prepared to invest $100 million in the home, if, and just if, he had been granted certain concessions by the city. These included the cessation that is temporary of pension and healthcare benefits, that have get to be the focus of the squabble between Icahn Enterprises plus the casino employees’ union.
Out $100 Million
In accordance with 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 bucks, he could have had labor peace and a content work force,’ McDevitt said in a statement. ‘But alternatively he’d rather slam the entranceway shut on these long-term workers just to discipline them and attempt to break their strike. In the end, he’ll have to live using what he is done to people that are working Atlantic City.’
But according to Tony Rodio, leader of Icahn Enterprises’ casino subsidiary Tropicana Entertainment, the employees’ demands have made the continued procedure of this casino impossible.
‘Currently, the Taj is multimillions that are losing month, now with this hit, we see no path to profitability,’ Rodio said. He added that Icahn Enterprises had lost around $100 million since it overran the Taj.
Bankrupt Eighth Wonder
The casino was announced to function as the ‘eighth wonder regarding the world’ by the current Republican presidential nominee when he opened it in 1990, at a price of $1 billion. In 1991, it became the wonder that is first of world to go under since the Colossus of Rhodes had been destroyed by an earthquake in 226 BC.
In 2009, Trump offered their Atlantic City casino interests to team of venture capitalists, who formed Trump Entertainment. While he has had nothing to do utilizing the handling of the Taj since, 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 manufacturer.
However, in 2014, incensed by what he saw as Trump Entertainment’s mismanagement for the Taj and its cousin Atlantic City property the Plaza, he litigated to have his name eliminated from both casinos. He later relented following their old friend Icahn’s intervention. He additionally relinquished the stake when Trump Entertainment declared for bankruptcy security.
The Labor Day week-end closure associated with the Trump Taj Mahal will leave just seven gambling enterprises operating in the beachside resort, that has been fighting problems that are financial years.
FBI Busts Significant Mafia Crime Syndicate, Included Prohibited 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 myfreepokies.com reputed boss, all in locations up and down the East Coast.
Joey Merlino, the reputed boss for the Philadelphia Mafia, was one of 46 alleged mobsters arrested up and down the East Coast on Thursday, following a major fbi and nyoctf infiltration and bust. (Image: miamiherald.com)
Alleged members of the Genovese, Gambino, Lucchese, and Bonanno crime families, four of this new York Mob’s top five families, were taken into custody. Key among those arrested was Joseph ‘Skinny Joey’ Merlino, the so-called boss of the Philadelphia Mob. Merlino has beaten murder charges into the past, but served prison time for racketeering.
The variety 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 regarding 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 brand New York Preet Bharara.
Each of the defendants are alleged to be element of a group referred to as the East Coast LCN Enterprise, an ‘organized criminal enterprise,’ according to the indictment, that was formed following a pact involving the four targeted New York families plus the Philadelphia Mafia.
‘ The Mob remains a scourge on this city and around the country,’ said Bharara. ‘From loan-sharking and unlawful 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 get in the way of their unlawful schemes continues to be the play that is go-to the Mob’s playbook.’
Bharara was notably the prosecutor that is lead the Black Friday busts of major poker sites PokerStars and Full Tilt in 2011. The sites were, at that time, running outside of the scope of legality in the US.
The arrests have a investigation that is joint the FBI and New York’s Organized Crime Task Force (OCTF), which spanned several years and included infiltration by an undercover FBI agent to the ranks of the corporation.
Investigators have amassed a large number of hours of testimony collected through wiretaps and the cooperation of a witness. The indictment that is 32-page unsealed on Thursday, details incidents of assaults, threats, and arson.
Illegal gambling was a big way to obtain the organization’s income, in accordance with the indictment. It owned an establishment in ny that held poker tournaments and took wagers on horses, and additionally operated sports betting companies based in ny, Florida, nj-new Jersey, and Costa Rica.
All defendants plead not responsible, and the majority were released on $300,000 relationship, while some were retained, with no 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 at the 2016 Summer Olympics, nevertheless the victory that is greatest can come by means 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.
Starting ceremonies begin at 8 pm time that is local Rio.
The Brazilian city is 60 minutes ahead for the United States’ coveted Eastern time area. NBC will wait its protection by an full hour to air the event at 8 pm ET rather of 7 pm, much to 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 planning, or lack thereof on the part of Rio, plenty of serious issues linger as the globe’s sporting tournament that is greatest starts.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will probably have lasting impact on the games. Brazil is the first South country that is american play host to an Olympics, and its own severe shortcomings in adequately preparing Rio is expected to push Olympic organizers right back to holding the occasion in more stable areas of the world.
Africa is currently the continent that is only never host an Olympics. That most likely will not change anytime soon.
The International Olympic Committee (IOC) and nations around the world are more concerned with the next 16 days in Rio while Rio’s mishandling will have long-term consequences.
- Zika: The most problem that is serious Rio is physically the tiniest. Mosquitos infected with Zika, a virus that may cause severe birth defects, stays rampant.
- Water: Sewage-infested waters surrounding the city contain high levels of germs. Open-water swimmers have been told to not submerge their heads while competing.
- Crime: Rio is definitely an impoverished city where some locals have actually nothing to readily lose. And with a local law enforcement agency that pales compared to first-world nations, crime is of utmost concern. A moroccan that is 22-year-old boxer arrested just this morning after wanting to rape two maids.
- Terrorism: The United States has over 1,000 spies in Rio monitoring terror threats and doing everything they can to keep Team USA safe. Military forces will also be on standby.
- Housing: Several countries have actually deemed the athletes’ town uninhabitable. Team USA basketball countered by renting a luxurious cruise liner effective at accommodating 296 guests for their stay in Rio.
Let the Betting Begin
In Nevada and Las vegas, nevada, the sportsbooks get it right more often than they fail. Oddsmakers in las vegas are experts at setting lines on sports they know inside 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 providing odds on the games. The Nevada Gaming Commission opted to include specific contests that are amateur February of 2015.
While every book in the Silver State knows football, baseball, basketball, and ice hockey, many aren’t quite as familiar with gymnastics, curling, speed walking, javelin, and other disciplines that are olympic.
If you have been a devout follower of canoe slalom or handball and think you understand more than Vegas, now might end up being the time to place a wager.
For all of those other country outside of Nevada boundaries, daily fantasy sports operators are offering 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 into the all-important move state of Nevada, where she spent a substantial quantity of her time decrying Trump’s business record and general disposition.
Hillary Clinton spent lots of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, combined with a devastating week for her opponent, is working. (Image: Andrew Harnik/AP)
Appearing before A las vegas, nevada audience on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked their record that is corporate in Atlantic City and Las vegas, nevada.
‘I went to Atlantic City and I came across a number of small enterprises, too as workers, plumbers and painters, glass installers, marble installers, at one of is own resorts. They finished the ongoin work . . . and they submitted their bill, therefore the Trump individuals said, ‘No, we are perhaps not going to pay you,” Clinton advertised.
The property, and along with it the Trump casino brand, will shut down for good on Labor Day though Trump has been largely removed from the Trump Taj Mahal since 2009, when Trump Entertainment Resorts filed for bankruptcy.
Before criticizing Trump, Clinton praised Nevada Senator Harry Reid (D) who introduced the candidate that is democratic the event. Reid, that is 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 gambling that is anti-online, an uncommon stance in the first state to legalize online poker in the usa.