Carl Icahn would like to revitalize the Taj Mahal in Atlantic City and save your self thousands of jobs in the process, but he says it can not be done unless local union workers are ready to compromise. Unhappy union employees, shown here 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 was authorized by the brand new Jersey Casino Control Commission this week.
Icahn says he shall invest another $100 million to revitalize the resort and to keep the Atlantic City landmark solvent.
‘We think whenever you pull into the Taj Mahal, it is dirty, it’s dated, and it requires to be freshened up,’ Trump Entertainment CEO Robert Griffin stated of this settlement. ‘we feel extremely highly that the Taj Mahal will excel.’
That will likely be no easy task, nonetheless, as 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 rooms were less than 50 percent full during the first three months for the a drastically lower rate than that of the other seven casino hotels that averaged occupancy levels of around 70 to 85 percent year.
Icahn’t Stand Unions
Icahn is optimistic which he can restore the Taj to its former days of glory. But one key condition the mogul insists on is that Local 54 additionally the UNITE HERE unions stop their pursuit of having a court mandate Icahn to reinstate benefits for employees that were terminated by Trump Entertainment during bankruptcy procedures.
The other Atlantic City casino under his ownership on Wednesday, Icahn told reporters he sees the Taj being reestablished much like he did with the Tropicana.
‘Although neighborhood 54 seems fixated at all costs on damaging the Taj, and risking its closure and the loss of almost 3,000 jobs, I am positive,’ Icahn said.
Icahn also released a letter to Local 54 Taj employees this week that likens the nationwide UNITE HERE organization up to a Ponzi scheme that uses dues to enrich the lives of its leadership at a detrimental cost to its users.
‘It can be an fact that is undisputable your union leadership declined to negotiate with the Taj as the losses were mounting also it was pushed into bankruptcy. Your union leadership refused to take into account any concession that would have helped keep the Taj afloat, and that’s because your jobs do not matter to the union leadership,’ Icahn wrote.
The once bustling gambling mecca of this east coast is now home to simply eight total casinos, and Icahn now has control of two, or 25 % of the town’s video gaming venues. That means along side Caesars Entertainment, owners of Bally’s, Caesars Atlantic City, and Harrah’s, Icahn has a monopoly that is small town where the overall game of Monopoly is situated.
Thought it is understandable planet 7 oz free coupon codes no deposit union workers want and need their health insurance and pension advantages reinstated, their tactics might be going about it in the way that is wrong. This week, Local 54 delivered a page to Icahn’s midtown Manhattan office with a list of its demands, along with an apple pie, a dig in response to Icahn saying ‘apple pie and flowers isn’t the way the world works’ earlier this year.
Jeb Bush Latest GOP Candidate to Enter Republican Presidential Race
Today officially official: After many months of unofficial fundraising, Jeb Bush confirmed his bid for the 2016 GOP nomination. The son and brother of two past US presidents is hoping to separate your lives his campaign from his instead family name that is famous. Kind of. (Image: Erik Schelzig/AP)
Jeb Bush joined the ever-expanding crowd of Republican candidates into the 2016 election that is presidential Monday, by having an statement at Miami-Dade College in the afternoon. But unlike lots of the greater than a dozen candidates into the GOP field, Bush will be hoping to operate from a position of strength, as he will be one of the favorites for the party’s nomination within the early going associated with the campaign.
‘ In virtually any language my message is going to be a confident one, that we can make the decades just ahead in America the greatest time ever to be alive in this world,’ the latest Bush political dynasty candidate opined, using both English and Spanish to address the live and undoubtedly massive TV audience because I am certain.
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 to the politician for 41 years and was initially from León, Guanajuato in Mexico, will certainly be an essential force in a country grappling with immigration and dual-language issues on a basis that is almost daily.
In reality, the story goes that Mrs. Bush did not speak English when even she married Jeb back in 1974. Her mother ended up being reportedly a worker that is migrant food server.
Bush may need the assistance. Although the Florida that is former governor usually the leader in national polls of Republican voters, though that advantage is incredibly narrow. In reality, it may be more accurate to view 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 don’t have any difficulty raising cash.
One super PAC that is backing him had hoped to boost $100 million by the end of June, and while they will almost certainly come up short of that goal, it’s clear there will be plenty of funding for the Bush war chest.
He will likewise have endorsements that are numerous Republican establishment figures, as well as a title that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is wanting to not drive on at least the most obvious of coattails. After all, that famous name that is last a double-edged sword, depending on which voters you are speaking to.
While both his brother and father have previously served as president, Jeb Bush is trying to avoid being seen simply since the next in line of succession, with a ‘royal’ aspect that many voters may perhaps not be comfortable with.
Campaign Was Unofficial for Months
Of course, by any standard that is reasonable 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. Throughout the weekend, Bush told CNN that becoming a candidate that is official enable him to higher articulate their message to the US individuals.
‘I think this transition to a candidacy enables me to be more direct about my advocacy of the leadership abilities essential for the next president to fix a few things,’ Bush said while in, of all places, Estonia this weekend. ‘ And as a candidate, contrary to someone who has been listening and learning along the real way, we’ll supply alternatives to the path we’re on aswell, therefore I’ll be more specific on policy.’
Historically Opposed to Gambling
It’s uncertain whether we’ll get any details on Bush’s gaming policies, but his past stances on gambling problems whilst governor of Florida make it pretty clear which he is no fan of casinos, as he strongly opposed gambling expansion in the state. Their stances on Internet gambling are less clear, though it is hard to imagine he could be any friendlier to online poker and casino games than he was with their land-based counterparts.
Perhaps moreover to their campaign, Bush might have to win over conservative voters who’ren’t fundamentally on board together with his stances on immigration and education, both areas where their wife may become an important campaign ally. He also recently struggled with questions over how he’d have managed the war in Iraq, and fired their campaign manager just last week due to squabbles inside his camp.
Nj-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 figures are positive, not all games and casinos are sharing equally into the good fortune.
In line with the New Jersey Department of Gaming Enforcement (DGE), on line gambling profits were as much as $12.47 million in May.
That represents an increase of more than 19 % 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 comparison, online poker rooms are struggling. Internet poker brought in only under $1.93 million in might, down from $2.27 million in identical month year that is last.
That figure marks the second-lowest monthly revenue for online poker in New Jersey, with only last November trailing the most recent month.
Once accountable for a quarter or maybe more of on line gambling revenues in New Jersey, poker is now no more than 15 percent associated with market.
On the poker aspect, the 888/World group of Poker partnership felt the majority of the harm. 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 constant was a theme for the Borgata, as its overall Internet revenues were down by about one percent as well.
It’s still the market that is online, collecting about 32 percent of all of the revenues, but growth appears to have stalled: the company has yet to beat out its 2014 performance online in any thirty days in 2010.
On the other hand, a few organizations have experienced their online offerings remove, none less compared to Golden Nugget.
The casino has taken full advantage to the fact that BetfairCasino.com is now operating through them since the closure of the Trump Plaza, and has ridden that new partnership to a clear second invest hawaii’s iGaming landscape.
Live Numbers Promising for Atlantic City
But while the figures that are online show a combination of ups and downs for Atlantic City’s casinos, the overall numbers for the industry were very encouraging in May. Overall, casinos won $208.6 million for the month, 5.3 percent significantly more than those exact same eight casinos took in last year.
To be sure, the pie that is overall still smaller: if you include three more gambling enterprises which were operating last May but have since closed, the revenues are down by about 9 %.
However with fewer casinos in the mix, the May revenues still represent a excellent result for the gambling enterprises that are still in business.
‘That’s a showing that is strong what our detractors say is a weak market,’ stated New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look at the outcomes for the main one month or for the first five months of the 12 months, total gaming income is up for the current operators. The size of the market could be smaller, but the wellness for the operators that are current getting stronger.’
The biggest champion had been Caesars, which saw its monthly revenues enhance by 51 % over last might. That was largely as a result of especially unlucky month in high-stakes table games last year for Caesars.
Only two casinos were down year-over-year, like the Borgata, which saw revenues fall by 4.7 % but still easily led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, that will be in the process to be obtained by Carl Icahn.