The Trump Taj Mahal could close at the end of the year
Casino mogul and Carl Icahn has just announced to The Associated Press that the Trump Taj Mahalin Atlantic City is still likely to close its doors by the end of the year.
However, last month the establishment has obtained permission to break their contract with unionized workers.
This in no way helps the businessman to stay optimistic: the complex could still close because of severe financial difficulties.
Additionally, he accuses the union to fight against the management of the hotel-casino, instead of working with them and try to help keeping the establishment open and save more than 3,000 jobs.
Requested aides
The billionaire Carl Icahn, who also owns the Tropicana Casino in Atlantic City, said he is prepared to invest $100 million in the property.
However, in order to do this he has several conditions.
Firstly, he wanted to cancel the contract with the unionized workers which he achieved last month by order of a judge of the bankruptcy court.
This should enable the casino to save $15 million per year.
Secondly, the businessman asked for assistance from the City Council of Atlantic City and the state of New Jersey to cancel their debt of $286 million.
This wish was not very well received by the public authorities.
In fact, the municipality immediately rejected any requests for additional tax assistance.
Some politicians like President of the Senate of New Jersey, Stephen Sweeney, have already indicated that they would never accept yielding to the demands of Carl Icahn.
Angry employees
Meanwhile, union members still continue to protest against the decision of the bankruptcy court.
Nearly 500 members of Unite-HERE Local 54 have set up pickets outside the Trump Taj Mahal in Atlantic City, while demanding that their health benefits and pension contributions are being restored.
The cancellation of these benefits has led Trump Entertainment Group to ensure that the property will not close their doors on November 13, as was initially announced.
However, the casino operator has just stated that this complex may still have to close its doors altogether by the end of the year if it does not receive the requested state aid.
