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 can not be done unless local union workers are ready to compromise. Unhappy union employees, shown here at an early on 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 newest 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 believe whenever you pull into the Taj Mahal, it is dirty, it’s dated, and it needs to be freshened up,’ Trump Entertainment CEO Robert Griffin stated of the settlement. ‘we feel very strongly that the Taj Mahal will excel.’
That will be no effortless task, nonetheless, 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 during the very first three months of this 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 Stay Unions
Icahn is optimistic that 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 experiencing a court mandate Icahn to reinstate benefits for employees which 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 regional 54 seems fixated at all costs on damaging the Taj, and risking its closing and the lack planet 7 oz free bonus codes of almost 3,000 jobs, I have always been positive,’ Icahn said.
Icahn also released a letter to neighborhood 54 Taj employees this week that likens the national UNITE HERE organization 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 fact that is undisputable your union leadership declined to negotiate with the Taj as its losses were mounting plus it was pushed into bankruptcy. Your union leadership declined to consider any concession that would have aided keep the Taj afloat, and that is because your jobs do not matter to the union leadership,’ Icahn wrote.
The once bustling gambling mecca regarding the east coast is now house to just eight total casinos, and Icahn now has control of two, or 25 per cent 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 overall game of Monopoly relies.
Thought it is understandable union workers want and need their health insurance coverage and retirement advantages reinstated, their tactics might be going about any of it into the incorrect way. This week, Local 54 delivered a page to Icahn’s midtown Manhattan workplace with a list of its demands, along with an apple pie, a dig in response to Icahn saying ‘apple pie and roses isn’t how a 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 sibling of two past US presidents is hoping to separate your lives his campaign from their instead family name that is famous. Type of. (Image: Erik Schelzig/AP)
Jeb Bush joined the ever-expanding crowd of Republican candidates within the 2016 presidential election on Monday, by having 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 perform from a position of strength, as he will be one of the favorites for the celebration’s nomination in the early going associated with the campaign.
‘ In any language my message is 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 is hitched to the politician for 41 years and had been originally from León, Guanajuato in Mexico, will certainly be an essential force in a country grappling with immigration and dual-language issues on a almost daily basis.
In fact, the story goes that Mrs. Bush did not speak English when even she married Jeb back in 1974. Her mother was reportedly a worker that is migrant food server.
Bush may need the help. Although the Florida that is former governor frequently the leader in national polls of Republican voters, though that advantage is very narrow. In fact, it may be more accurate to view Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders as of 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 have no difficulty raising money.
One PAC that is super that backing him had hoped to increase $100 million by the finish of June, and while they’ll almost certainly come up short of this objective, it’s clear there will be plenty of funding for the Bush war chest.
He will also have numerous endorsements from Republican establishment figures, as well as a name that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is wanting not to ever ride on at the least the obvious of coattails. After all, that famous name that is last a double-edged sword, dependent on which voters you’re speaking to.
While both his brother and father have previously offered as president, Jeb Bush is trying to avoid being seen just because the next in line of succession, with a ‘royal’ aspect that lots of voters may perhaps not be comfortable with.
Campaign Has Been Unofficial for Months
Needless to say, by any reasonable standard, Bush’s campaign has been underway for months, but he has carefully skirted the line to prevent formally launching a campaign organization until now. Within the weekend, Bush told CNN that becoming a candidate that is official enable him to better articulate his message to the US individuals.
‘I think this transition to a candidacy will allow me to be more direct about my advocacy associated with the leadership skills necessary for the next president to fix a few things,’ Bush said while in, of all places, Estonia on the weekend. ‘ And as a prospect, contrary to someone who has been paying attention and learning along the way, we’ll supply alternatives to the road we’re on too, therefore i will be more specific on policy.’
Historically Opposed to Gambling
It’s uncertain whether we’ll get any information on Bush’s video gaming policies, but his previous stances on gambling problems while governor of Florida make it pretty clear that he is no fan of casinos, as he strongly opposed gambling expansion in the state. His stances on Internet gambling are less clear, though it is difficult to imagine he would be any friendlier to online poker and casino games than he was with their counterparts that are land-based.
Perhaps moreover to his campaign, Bush may have to win over conservative voters who aren’t necessarily on board together with his stances on immigration and training, both areas where their 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 his campaign manager week that is just last 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 previous 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 overall figures are positive, maybe not all games and casinos are sharing equally in the good fortune.
According to the nj-new Jersey Department of Gaming Enforcement (DGE), online gambling revenues were as much as $12.47 million in May.
That represents a rise in excess of 19 per cent over last May, when the sites brought in just $10.47 million.
Online Casinos Up, Poker Down
But that growth has been fueled nearly entirely by online casinos. In contrast, online poker rooms are struggling. Internet poker brought in just under $1.93 million in May, down from $2.27 million in the same month last year.
That figure marks the second-lowest monthly revenue for internet poker in New Jersey, with only last November trailing the absolute most month that is recent.
Once responsible for a quarter or more of on the web gambling revenues in nj-new jersey, poker is now only about 15 per cent associated with 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 was an all-time low, while their only competitor in the state, Borgata/partypoker, held fairly steady.
Holding steady ended up being a theme for the Borgata, as its general Internet revenues were down by about one percent too.
It is still the online market leader, collecting about 32 percent of all revenues, but growth generally seems to have stalled: the company has yet to beat out its 2014 performance online in any thirty days in 2010.
On the other hand, several organizations have seen their online offerings take off, none less compared to Golden Nugget.
The casino has taken full advantage to the fact that BetfairCasino.com is now operating through them considering that the closure associated with Trump Plaza, and has now 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 mixture 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 same eight casinos took in year that is last.
To make sure, the pie that is overall still smaller: in the event that you include three more gambling enterprises which were operating last might but have since closed, the revenues are down by about 9 percent.
But with fewer gambling enterprises in the mix, the May revenues still represent a exceptional result for the gambling enterprises that are still in operation.
‘That’s a strong showing for what our detractors say is a weak market,’ stated brand New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look at the outcomes for the main one month or for 1st five months with this year, total video gaming revenue is up for the present operators. The dimensions of the marketplace are smaller, but the health associated with current operators is getting stronger.’
The winner that is biggest had been Caesars, which saw its monthly revenues increase by 51 % over last May. That was largely due to a month that is particularly unlucky 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 nonetheless easily led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, which is along the way of being acquired by Carl Icahn.