The Trump Taj Mahal is mostly about to end up being the fifth Atlantic City casino to close its doorways for good in 3 years. Its closure will signal end to the Trump casino brand forever.
Union members protest outside the Trump Taj Mahal, which will close its doorways 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 days, investor Carl Icahn has given up on the casino that is stricken will shutter it permanently on September 4.
That closure date strikes right in the exact middle of Labor Day, which might be a wild coincidence, or it might be a deliberate and final insult to the union, which Icahn blames for derailing his last-ditch attempt to save your self 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 bulk of its $286 million debt, which he ended up being ready to convert into equity.
Icahn also said he had been prepared to invest $100 million within the home, if, and only if, he had been granted concessions that are certain the city. These included the short-term cessation of worker pension and healthcare benefits, which may have become the focus of the squabble between Icahn Enterprises together with casino employees’ union.
Out $100 Million
According to regional 54 frontrunner Bob McDevitt, Icahn has opted for to ‘burn the Trump Taj Mahal down’ in an effort 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 alternatively he’d rather slam the doorway shut on these workers that are long-term to discipline them and attempt to break their strike. In the end, he’ll have to live with 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 workers’ demands have made the continued operation associated with casino impossible.
‘Currently, the Taj is multimillions that are losing month, now using this hit, we see no way to profitability,’ Rodio stated. He included that Icahn Enterprises had lost around $100 million since it took over the Taj.
Bankrupt Eighth Wonder
The casino was declared to be the ‘eighth wonder associated with world’ by the current Republican presidential nominee when he opened it in 1990, at a cost of $1 billion. In 1991, it became the wonder that is first of world 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 group of venture capitalists, who formed Trump Entertainment. While he has had nothing to do with all the management of the Taj since, he managed to negotiate a deal whereby he retained a ten percent stake in the casino in return for the utilization of his famous brand name.
However, in 2014, incensed by just what he saw as Trump Entertainment’s mismanagement regarding the Taj and its cousin Atlantic City property the Plaza, he litigated to have his name removed from both casinos. He later relented following his friend that is old Icahn intervention. He also relinquished the stake when Trump Entertainment declared for bankruptcy security.
The Labor Day week-end closure of this Trump Taj Mahal will leave only seven casinos operating in the beachside resort, which has been fighting financial issues for years.
FBI Busts Major Mafia Crime Syndicate, Included Prohibited Gambling Ops
A Mafia that is massive arm engaged in illegal gambling, extortion, gun-running, and fraud, 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 for the Philadelphia Mafia, was one of 46 alleged mobsters arrested up and down the East Coast on Thursday, after a major fbi and nyoctf infiltration and bust. (Image: miamiherald.com)
Alleged members of the Genovese, Gambino, Lucchese, and Bonanno criminal activity families, four of this new York Mob’s top five families, were taken into custody. Key among those arrested was https://rubetting.club Joseph ‘Skinny Joey’ Merlino, the so-called boss of the Philadelphia Mob. Merlino has beaten murder costs into the past, but served jail time for racketeering.
The list 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 for the Mob
The sheer scale and 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.
All of the defendants are alleged become part of a group referred to as the East Coast LCN Enterprise, an ‘organized unlawful enterprise,’ according to the indictment, that was formed following a pact involving the four New that is targeted York plus the Philadelphia Mafia.
‘ The Mob remains a scourge on this populous city and around the country,’ said Bharara. ‘From loan-sharking and gambling that is illegal 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 the 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 the scope of legality in america.
The arrests follow a joint research 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 business.
Investigators have actually amassed tens of thousands of hours of testimony gathered through wiretaps as well as the cooperation of a witness. The 32-page indictment, unsealed on Thursday, details incidents of assaults, threats, and arson.
Prohibited gambling had been a source that is big of organization’s revenue, based on 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 nyc, Florida, nj-new Jersey, and Costa Rica.
All defendants plead not guilty, and the majority had been released on $300,000 bond, 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, but the victory that is greatest can 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.
Starting ceremonies begin at 8 pm local time in Rio.
The city that is brazilian 1 hour ahead of this United States’ coveted Eastern time zone. NBC will postpone its protection by the full hour to air the event at 8 pm ET alternatively 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 begins.
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, and its particular severe shortcomings in adequately preparing Rio is anticipated to push Olympic organizers right back to keeping the event in more stable areas regarding the world.
Africa happens to be the only continent to never host an Olympics. That most likely won’t alter 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 serious problem in Rio is actually the littlest. Mosquitos infected with Zika, a virus that can cause severe birth defects, continues to be rampant.
- Water: Sewage-infested waters surrounding the city contain high degrees of bacteria. Open-water swimmers have been told not to ever submerge their heads while competing.
- Crime: Rio is definitely an impoverished city where some locals have actually nil to lose. And by having a local law enforcement agency that pales compared to first-world countries, criminal activity is of utmost concern. A moroccan that is 22-year-old boxer arrested just this morning after trying to rape two maids.
- Terrorism: The usa has over 1,000 spies in Rio monitoring terror threats and everything that is doing can to keep Team USA safe. Army forces are also on standby.
- Housing: Several countries have deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a cruise that is luxurious effective at accommodating 296 guests with regards to their remain in Rio.
Let the Betting Begin
In Nevada and Las Vegas, 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 potentially a few preferred chances for gamblers.
For the time that is first the 2000 Olympics, Nevada sportsbooks are offering odds in the games. The Nevada Gaming Commission opted to add certain amateur contests in 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 have been a follower that is devout of slalom or handball and think you realize significantly more than Vegas, now might function as the time for you to place a wager.
For the rest of the country outside of Nevada edges, day-to-day dream recreations operators are providing 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 within the all-important swing state of Nevada, where she spent a considerable quantity of her time decrying Trump’s business record and general disposition.
Hillary Clinton invested a lot of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, coupled with a devastating week for her opponent, is working. (Image: Andrew Harnik/AP)
Appearing before A las vegas, nevada crowd on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked his record that is corporate in Atlantic City and Las Vegas.
‘i went to Atlantic City and I met a true number of small businesses, too as workers, plumbers and painters, cup installers, marble installers, at one of his resorts. They finished the work . . . and they presented their bill, therefore the Trump people said, ‘No, we’re 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, who’s offered 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 first state to legalize online poker in the us.