Carl Icahn would like to revitalize the Taj Mahal in Atlantic City and save thousands of jobs along the way, but it is said by him cannot be done unless local union workers are willing to compromise. Unhappy union workers, shown only at a youthful 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 had been authorized by the latest Jersey Casino Control Commission this week.
Icahn says he will invest another $100 million to revitalize the resort and to keep the Atlantic City landmark solvent.
‘We think when you pull into the Taj Mahal, it is dirty, it’s dated, and it needs to be freshened up,’ Trump Entertainment CEO Robert Griffin said for the settlement. ‘I feel very strongly that the Taj Mahal will prosper.’
That is no effortless task, nevertheless, as the north end boardwalk gambling venue continues to operate at a loss, including being $8.7 million in the red for initial quarter of 2015. The hotel’s 2,010 spaces were less than 50 per cent full during the very first three months associated with the year, a drastically reduced rate than that of the other seven casino hotels that averaged occupancy levels of around 70 to 85 %.
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 regional 54 and also the UNITE HERE unions stop their pursuit of getting a court mandate Icahn to reinstate benefits for employees that were terminated by Trump Entertainment during bankruptcy proceedings.
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 closing and the loss of almost 3 https://casino-online-australia.net/planet-7-oz-casino-review/,000 jobs, I am optimistic,’ 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 cost that is detrimental its members.
‘It is an undisputable undeniable fact that 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 assisted keep the Taj afloat, and that is because your jobs usually do not matter to the union leadership,’ Icahn published.
The once bustling gambling mecca for the coast that is east now house to simply 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 town where the game of Monopoly relies.
Thought it’s understandable union workers want and need their health insurance and pension benefits reinstated, their tactics might be going about this into the way that is wrong. This week, Local 54 delivered a letter to Icahn’s midtown Manhattan office having a list of its demands, along side an apple pie, a dig in reaction to Icahn saying ‘apple pie and roses isn’t what sort of 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 United States presidents is hoping to separate his campaign from their rather family name that is famous. Kind 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 announcement at Miami-Dade College in the afternoon. But unlike most of the more than a dozen prospects in the GOP field, Bush will be hoping to operate from a position of strength, as he shall be one regarding the favorites for the celebration’s nomination within the early going associated with the campaign.
‘ In virtually any language my message is going to be an optimistic 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 ago, 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 initially 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 reality, the story goes that Mrs. Bush did not also speak English whenever she married Jeb back in 1974. Her mother was reportedly a migrant worker and food server.
Bush may need the help. Although the Florida that is former governor often the best choice in national polls of Republican voters, though that advantage is incredibly narrow. In fact, it may be more accurate to examine Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders as of 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 have no trouble money that is raising.
One PAC that is super that supporting him had hoped to improve $100 million by the finish of June, even though they’ll almost certainly come up short of that objective, it’s clear there’ll be lots of funding for the Bush war chest.
He’ll also have numerous endorsements from Republican establishment figures, and a name that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is wanting not to ever drive on at least the obvious of coattails. After all, that famous name that is last a double-edged sword, according to which voters you are talking to.
While both his brother and father have previously offered as president, Jeb Bush is trying to avoid being seen simply whilst the next in line of succession, with a ‘royal’ aspect that lots of voters may maybe not be comfortable with.
Campaign Was Unofficial for Months
Needless to say, by any standard that is reasonable Bush’s campaign has been underway for months, but he’s got carefully skirted the line to prevent officially launching a campaign organization until now. On the weekend, Bush told CNN that becoming an official candidate will enable him to better articulate their message to the US people.
‘I think this transition to a candidacy enables me to be more direct about my advocacy associated with leadership skills required for the next president to fix a few things,’ Bush said while in, of all places, Estonia on the weekend. ‘ And being a candidate, contrary to somebody who has been listening and learning along the way, we’ll offer up alternatives to the path we’re on too, therefore i will be more specific on policy.’
Historically Opposed to Gambling
It’s uncertain whether we’ll get any details on Bush’s video gaming policies, but his previous stances on gambling issues while governor of Florida make it pretty clear that he is not any fan of casinos, as he strongly opposed gambling expansion within the state. Their stances on Internet gambling are less clear, though it’s hard to imagine he would be any friendlier to online poker and casino games than he was for their land-based counterparts.
Perhaps more importantly to their campaign, Bush might have to make an impression on conservative voters who’ren’t always on board along with his stances on immigration and training, both areas where his wife could become a campaign that is important. He also recently struggled with questions over how he would 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 past year. (Image: GoldenNugget.com)
New Jersey’s online gambling market continues to grow, assisting strengthen the remaining eight gambling enterprises still running in Atlantic City.
But while the entire numbers are positive, not all games and casinos are sharing equally into the good fortune.
Based on the nj-new Jersey Department of Gaming Enforcement (DGE), on the web gambling profits were as much as $12.47 million in May.
That represents an increase greater 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 very nearly 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 identical month a year ago.
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 nj, poker is now only about 15 per cent associated with the market.
The 888/World Series of Poker partnership felt most of the damage on the poker side of things. 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 was a theme for the Borgata, as its overall Internet revenues were down by about one percent too.
It’s still the online market leader, collecting about 32 percent of most revenues, but growth seems to have stalled: the company has yet to beat out its 2014 performance online in any month this present year.
On the other hand, several organizations have observed their online offerings remove, none less than the Golden Nugget.
The casino has taken full advantage of the fact that BetfairCasino.com is now operating through them because the closure regarding the Trump Plaza, and it has ridden that new partnership to a clear place that is second their state’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 had been very encouraging in May. Overall, casinos won $208.6 million for the month, 5.3 per cent more than those same eight casinos took in a year ago.
To make sure, the pie that is overall still smaller: in the event that you consist of three more casinos that have been operating last might but have since closed, the revenues are down by about 9 percent.
However with fewer gambling enterprises 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,’ stated New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look at the results for the one month or for the very first five months of this year, total video gaming income is up for the present operators. The size of the market may be smaller, but the health for the operators that are current getting stronger.’
The biggest champion had been Caesars, which saw its monthly revenues increase by 51 % over last May. That was largely because of month that is particularly unlucky 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 per cent but still effortlessly led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, that will be along the way to be obtained by Carl Icahn.