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Carl Icahn Awarded Trump Taj Mahal as Battle with Union Continues

Carl Ic<span id="more-4494"></span>ahn Awarded Trump Taj Mahal as Battle with Union Continues

Carl Icahn would like to revitalize the Taj Mahal in Atlantic City and save thousands of jobs in the process, but it is said by him cannot be done unless local union workers are willing to compromise. Unhappy union workers, shown here at an early on 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 approved by the New Jersey Casino Control Commission this week.

Icahn says he will invest another $100 million to revitalize the resort and also to keep the Atlantic City landmark solvent.

‘We believe whenever you pull into the Taj Mahal, it’s dirty, it is dated, and it requires to be freshened up,’ Trump Entertainment CEO Robert Griffin stated of the settlement. ‘I feel extremely highly that the Taj Mahal will excel.’

That are no task that is easy nevertheless, while the north end boardwalk gambling venue continues to operate at a loss, including being $8.7 million in the red for the initial quarter of 2015. The hotel’s 2,010 rooms had been less than 50 per cent full through the first three months for the 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 condition that is key 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 proceedings.

On Wednesday, Icahn told reporters he sees the Taj being reestablished much like he did with the Tropicana, the other Atlantic City casino under their ownership.

‘Although Local 54 seems fixated at all costs on damaging the Taj, and risking its closing and the loss in almost 3,000 jobs, I am optimistic,’ Icahn said.

Icahn also released a letter to neighborhood 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 people.

‘It is an undisputable undeniable fact that your union leadership refused to negotiate with the Taj as the losses were mounting also it was pushed into bankruptcy. Your union leadership declined to consider any concession that would have aided keep the Taj afloat, and that’s because your jobs don’t matter to the union leadership,’ Icahn had written.

Icahnoclast

The once bustling gambling mecca regarding the coast that is east now home to simply eight total casinos, and Icahn now has control of two, or 25 percent of the town’s 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 is based.

Thought it is understandable union workers want and need their health insurance coverage and retirement benefits reinstated, their tactics might be going about it into the way that is wrong. This week, Local 54 delivered a page to Icahn’s midtown Manhattan workplace having a list of its demands, along with an apple pie, a dig in response to Icahn saying ‘apple pie and flowers isn’t what sort of world works’ earlier 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 his campaign from his instead famous family name. Kind of. (Image: Erik Schelzig/AP)

Jeb Bush joined the ever-expanding crowd of Republican candidates within the 2016 election that is presidential Monday, having an statement at Miami-Dade College in the afternoon. But unlike most of the higher than a dozen candidates in the GOP field, Bush will be hoping to operate from a position of strength, as he shall be one of this favorites for the celebration’s nomination into the early going for the campaign.

‘ In almost any language my message will be a confident 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 originally from León, Guanajuato in Mexico, will certainly be an essential force in a country grappling with immigration and dual-language problems on a almost daily basis.

In reality, 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 former Florida governor is often the leader in national polls of Republican voters, though that advantage is incredibly narrow. In fact, it may become more accurate to look at 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 their campaign a strong one. For one, he will don’t have any trouble raising money.

One super PAC that is backing him had hoped to improve $100 million by the conclusion of June, and while they will almost certainly come up short of that goal, it’s clear there’ll be lots of funding for the Bush war chest.

He’ll have endorsements that are numerous 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 drive on at least the most obvious of coattails. After all, that famous final name is a double-edged sword, based on which voters you are speaking to.

While both his dad and brother have previously offered as president, Jeb Bush is attempting to avoid being seen just once the next in line of succession, with a ‘royal’ aspect that many voters may not be comfortable with.

Campaign Was 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 avoid officially launching a campaign organization until now. Throughout the weekend, Bush told CNN that becoming a candidate that is official allow him to higher articulate their message to the American individuals.

‘we think this transition to a candidacy will allow me to be more direct about my advocacy regarding the leadership skills required for the next president to 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 alternatives to the trail we’re on as well, therefore I’ll be more specific on policy.’

Historically Opposed to Gambling

It is uncertain whether we’ll get any details on Bush’s video gaming policies, but his past stances on gambling problems while governor of Florida make it pretty clear which he isn’t any fan of casinos, as he strongly opposed gambling expansion within the state. His 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 more importantly to their campaign, Bush might have to conquer conservative voters that aren’t always on board together with stances on immigration and training, both areas where their wife may become an important campaign ally. 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 their camp.

Nj-new Jersey Casinos See Online And Live Gains In May

The Golden Nugget has seen huge gains in its online gambling operations throughout the year that is past. (Image: GoldenNugget.com)

New Jersey’s online gambling market continues to grow, assisting strengthen the remaining eight gambling enterprises still operating in Atlantic City.

But while the general figures are positive, maybe not all games and casinos are sharing equally into the good fortune.

In line with the New Jersey Department of Gaming Enforcement (DGE), online gambling revenues were around $12.47 million in May.

That represents an increase greater than 19 percent 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 comparison, online poker rooms are struggling. Internet poker brought in only under $1.93 million in May, down from $2.27 million in identical month last year.

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 in charge of a quarter or maybe more of on the web gambling revenues in nj, poker is now no more than 15 per cent for 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 ended up being a theme for the Borgata, as its general Internet revenues were down by about one percent too.

Its still the market that is online, collecting about 32 percent of most revenues, but growth appears to have stalled: the business has yet to beat out its 2014 performance online in any month this present year.

On the planet 7 casino oz other hand, a few businesses have experienced their online offerings lose, none less compared to the 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 ridden that new partnership to a clear second place in their state’s iGaming landscape.

Real time Numbers Promising for Atlantic City

But while the online numbers may show a mix of ups and downs for Atlantic City’s casinos, the overall numbers for the industry were 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 be certain, the overall cake is still smaller: in the event that you consist of three more casinos which were operating last May but have since closed, the revenues are down by about 9 percent.

However with fewer casinos in the mix, the might revenues still represent a result that is excellent the gambling enterprises that are nevertheless in business.

‘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 during the outcomes for the main one thirty days or for the first five months with this year, total gaming revenue is up for the present operators. The dimensions of industry might be smaller, but the wellness for the operators that are current getting stronger.’

The biggest champion had been Caesars, which saw its month-to-month revenues increase by 51 per cent over last May. That was largely because of particularly unlucky month in high-stakes table games last year for Caesars.

Just two casinos were down year-over-year, such as the Borgata, which saw revenues fall by 4.7 per cent but nonetheless easily led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, which will be in the process to be obtained by Carl Icahn.

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