
Carl Icahn really wants to revitalize the Taj Mahal in Atlantic City and save your self thousands of jobs in the act, but it is said by him can not be done unless local union workers are prepared to compromise. Unhappy union workers, shown only at an earlier protest, feel otherwise.
Billionaire Carl Icahn has obtained the Trump Taj Mahal, exchanging $292 million he’s owed for complete ownership of the casino in a deal that was authorized by the newest 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 believe 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 stated for the settlement. ‘I feel really strongly that the Taj Mahal will do well.’
That is no simple 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 very first quarter of 2015. The hotel’s 2,010 spaces were less than 50 percent full throughout the first three months for the year, a drastically reduced rate than that of the other seven casino hotels that averaged occupancy levels of around 70 to 85 percent.
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 neighborhood 54 and the UNITE HERE unions stop their pursuit of experiencing a court mandate Icahn to reinstate benefits for workers 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 neighborhood 54 seems fixated at all costs on damaging the Taj, and risking its closure and the lack of almost 3,000 jobs, I have always been optimistic,’ Icahn said.
Icahn also released a letter to regional 54 Taj employees this week that likens the national UNITE HERE organization up to a Ponzi scheme that uses dues to enrich the lives of its leadership at a cost that is detrimental its people.
‘It is definitely an fact that is undisputable your union leadership declined to negotiate with the Taj as https://casino-online-australia.net/planet-7-oz-casino-review/ its losses were mounting also it was pushed into bankruptcy. Your union leadership refused to take into account any concession that would have aided keep the Taj afloat, and that’s because your jobs do not matter to the union leadership,’ Icahn composed.
Icahnoclast
The once bustling gambling mecca for the coast that is east now house to just eight total casinos, and Icahn now has control of two, or 25 % of the city’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 the town where the game of Monopoly is situated.
Thought it is understandable union workers want and need their health insurance and retirement benefits reinstated, their tactics might be going about this into the incorrect way. This week, Local 54 delivered a letter to Icahn’s midtown Manhattan workplace with a list of its demands, along side an apple pie, a dig in response to Icahn saying ‘apple pie and flowers isn’t the way the 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 brother of two past United States presidents is hoping to split up his campaign from their rather famous family name. Sort of. (Image: Erik Schelzig/AP)
Jeb Bush joined the ever-expanding crowd of Republican candidates within the 2016 election that is presidential Monday, with an statement at Miami-Dade College in the afternoon. But unlike lots of the greater than a dozen applicants into the GOP field, Bush will be hoping to perform from a position of strength, as he shall be one regarding the favorites for the celebration’s nomination in the early going associated with the campaign.
‘ In almost any language my message are going to be a good 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 Mexican immigrant who married Jeb 41 years back, could prove critical in helping him reach Hispanic voters. (Image: Bill Ingalls/NASA/Getty)
Columba Bush, who happens to be married towards the politician for 41 years and ended up being originally from León, Guanajuato in Mexico, will certainly be an important force in a country grappling with immigration and dual-language problems on a basis that is almost daily.
In fact, the story goes that Mrs. Bush did not speak English when even she married Jeb back in 1974. Her mother had been reportedly a migrant worker and food server.
Bush may require the assistance. Although the Florida that is former governor frequently the leader in national polls of Republican voters, though that advantage is very narrow. In reality, it may become more accurate to check Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders at this stage that is early.
Strong Establishment Candidate
That stated, Bush has lots of advantages that will make their campaign a strong one. For one, he will don’t have any trouble money that is raising.
One super PAC that is supporting him had hoped to boost $100 million by the end of June, and while they’ll almost certainly come up short of that goal, it’s clear there will be lots of funding for the Bush war chest.
He will also have numerous endorsements from Republican establishment figures, as well as a title that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is attempting not to ever ride on at the very least the most obvious of coattails. After all, that famous last name is a double-edged sword, based on which voters you are talking to.
While both his brother and father have previously served as president, Jeb Bush is trying to avoid being seen merely while the next in line of succession, with a ‘royal’ aspect that many voters may perhaps not be comfortable with.
Campaign Happens To Be Unofficial for Months
Needless to say, by any standard that is reasonable Bush’s campaign has been underway for months, but he has carefully skirted the line in order to avoid formally launching a campaign organization until now. Over the weekend, Bush told CNN that becoming an official candidate will allow him to higher articulate his message to the American individuals.
‘we think this transition to a candidacy enables me to be more direct about my advocacy associated with leadership skills essential for the president that is next 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 offer up alternatives to the path we’re on aswell, so i will 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 while governor of Florida make it pretty clear that he isn’t any fan of casinos, as he strongly opposed gambling expansion within the state. Their 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 to their counterparts that are land-based.
Perhaps moreover to their campaign, Bush may have to conquer conservative voters who aren’t fundamentally on board along with his stances on immigration and training, both areas where his wife can become a campaign that is important. 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.
New Jersey Casinos See Online And Live Gains In May
The Golden Nugget has seen huge gains in its online gambling operations on the year that is past. (Image: GoldenNugget.com)
New Jersey’s online gambling market continues to grow, helping strengthen the remaining eight casinos still running in Atlantic City.
But while the general figures are positive, maybe not all games and casinos are sharing equally into the fortune that is good.
Based on the New Jersey Department of Gaming Enforcement (DGE), on line gambling profits were up to $12.47 million in May.
That represents a rise of more than 19 % over last May, when the sites brought in just $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 only under $1.93 million in might, down from $2.27 million in the same 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 absolute most recent month.
Once responsible for a quarter or maybe more of on line gambling revenues in New Jersey, poker is now no more than 15 percent for the market.
On the poker side, the 888/World group of Poker partnership felt all of the harm. The $831,799 they brought in through their Internet poker partnership had been a low that is all-time while their only competitor in the state, Borgata/partypoker, held fairly steady.
Holding constant ended up being a theme for the Borgata, as its general Internet revenues were down by about one percent as well.
Its still the market that is online, collecting about 32 percent of all of the revenues, but growth seems to have stalled: the company has yet to beat out its 2014 performance online in any month this year.
On the other hand, several organizations have seen 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 this Trump Plaza, and it has ridden that new partnership to a clear place that is second the state’s iGaming landscape.
Real time Numbers Promising for Atlantic City
But while the figures that are online show a mix 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 more than those exact same eight casinos took in year that is last.
To make 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 percent.
But with fewer casinos in the mix, the May revenues still represent a result that is excellent the casinos that are still in operation.
‘That’s a strong showing for 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 thirty days or for the first five months of the year, total video gaming revenue is up for the existing operators. The size of the market may be smaller, but the health regarding the current operators is getting stronger.’
The biggest champion ended up being Caesars, which saw its monthly revenues increase by 51 per cent over last might. That was largely as a result of particularly unlucky month in 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 % but nonetheless easily led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, that will be along the way of being acquired by Carl Icahn.
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