The Trump Taj Mahal is mostly about to end up being the fifth Atlantic City casino to shut its doorways once and for all in 3 years. Its closure will signal a final end to your Trump casino brand forever.
Union members protest outside the Trump Taj Mahal, which will close its doors on 4, 2016 september. Icahn Enterprises says it has lost $100 million on the venture.
In the midst of industrial action by members of the Unite Here Local 54 Union, who’ve been picketing the Taj for weeks, investor Carl Icahn has given up on the stricken casino and will shutter it permanently on September 4.
That closure date hits right in the exact middle of Labor Day, which might be a wild coincidence, or it may be a deliberate and final insult to the union, which Icahn blames for derailing his last-ditch attempt to save the Taj.
Icahn stepped in to rescue the casino in 2014, when its owners that are previous Trump Entertainment, declared bankruptcy. The billionaire raider that is corporate the bulk of its $286 million debt, which he ended up being prepared to convert into equity.
Icahn additionally said he had been prepared to invest $100 million in the home, if, and only if, he had been granted concessions that are certain the city. These included the temporary cessation of worker pension and healthcare benefits, which have become the focus of the squabble between Icahn Enterprises and the casino employees’ union.
Out $100 Million
According to Local 54 frontrunner Bob McDevitt, Icahn has chosen to ‘burn the Trump Taj Mahal down’ in an effort to ‘punish’ strikers.
‘ For a few million dollars, he could have had labor peace and a content work force,’ McDevitt said in a statement. ‘But instead he’d rather slam the entranceway shut on these workers that are long-term to discipline them and attempt to break their strike. In the long run, he’ll have to live with what he is done to working people in Atlantic City.’
But according to Tony Rodio, chief executive of Icahn Enterprises’ casino subsidiary Tropicana Entertainment, the workers’ demands have made the continued operation associated with the casino impossible.
‘Currently, the Taj is losing multimillions a month, and today with this particular attack, we see no path to profitability,’ Rodio said. He added that Icahn Enterprises had lost around $100 million since it annexed the Taj.
Bankrupt Eighth Wonder
The casino was announced to end up being the ‘eighth wonder associated with world’ by the current Republican presidential nominee when he opened it in 1990, at a price of $1 billion. In 1991, it became the wonder that is first of world to go under since the Colossus of Rhodes had been destroyed by an earthquake in 226 BC.
In 2009, Trump offered his Atlantic City casino interests to a combined team of venture capitalists, who formed Trump Entertainment. He was able to negotiate a deal whereby he retained a ten percent stake in the casino in return for the use of his famous brand name while he has had nothing to do with the management of the Taj since.
However, in 2014, incensed by 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 their old buddy Icahn’s intervention. He also relinquished the stake when Trump Entertainment declared for bankruptcy protection.
The Labor Day weekend closure of the Trump Taj Mahal will leave just seven gambling enterprises operating within the beachside resort, that has been fighting problems that are financial years.
FBI Busts Major Mafia Crime Syndicate, Included Illegal Gambling Ops
A massive Mafia arm that engaged in illegal gambling, extortion, gun-running, and fraudulence, 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 employer associated with the Philadelphia Mafia, was one of 46 alleged mobsters arrested up and down the East Coast on Thursday, after A fbi that is major and infiltration and bust. (Image: miamiherald.com)
Alleged users of the Genovese, Gambino, Lucchese, and Bonanno criminal activity families, four of the brand new York Mob’s top five families, were taken into custody. Key among those arrested was Joseph ‘Skinny Joey’ Merlino, the so-called boss of the Philadelphia Mob. Merlino has beaten murder costs within the past, but served prison time for racketeering.
The set 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 associated with the Mob
The scale that is sheer 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.
Most of the defendants are alleged become section of a group referred to as the East Coast LCN Enterprise, an ‘organized unlawful enterprise,’ according to the indictment, that has been formed following a pact involving the four New that is targeted York plus the Philadelphia Mafia.
‘ The Mob remains a scourge on this 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 the way of their unlawful schemes remains 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 right time, operating away from range of legality in the US.
The arrests follow a joint investigation between the FBI and New York’s Organized Crime Task Force (OCTF), which spanned several years and involved infiltration by an undercover FBI agent in to the ranks of the organization.
Investigators have amassed a large number of hours of testimony gathered through wiretaps plus the cooperation of 1xbet Ð·ÐµÑ€ÐºÐ°Ð»Ð¾\ a witness. The indictment that is 32-page unsealed on Thursday, details incidents of assaults, threats, and arson.
Prohibited gambling had been a source that is big of organization’s income, based on the indictment. It owned an establishment in New York that held poker tournaments and took bets on horses, and also operated sports wagering organizations based in ny, Florida, New Jersey, and Costa Rica.
All defendants plead not bad, and the majority had been released on $300,000 relationship, 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 during the 2016 Summer Olympics, however the greatest victory can come by means of a safe and secure 16-day event. (Image: Jewel Samad/AFP)
The 2016 Summer Olympics officially kickoff this evening in Rio de Janeiro, even though the athletes, fans, and media are ready for the competitions, it really isn’t quite therefore clear that the city itself is.
Starting ceremonies begin at 8 pm time that is local Rio.
The Brazilian town is 1 hour ahead associated with United States’ coveted Eastern time zone. NBC will postpone its coverage by an full hour to air the event at 8 pm ET alternatively of 7 pm, much to the dismay of numerous fans.
More than 11,000 athletes will compete in 39 sport disciplines now through the closing ceremonies on August 21. But after years of planning and planning, or lack thereof on the part of Rio, plenty of serious concerns linger as the globe’s greatest sporting tournament begins.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will probably have a impact that is lasting the games. Brazil is the first South American country to play host to an Olympics, and its own severe shortcomings in adequately preparing Rio is expected to push Olympic organizers back to holding the event in more stable regions of this globe.
Africa is now the only continent to never host an Olympics. That most likely will not change 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 birth that is severe, remains rampant.
- Water: Sewage-infested waters surrounding the city contain high quantities of germs. Open-water swimmers have been told not to submerge their heads while competing.
- Crime: Rio is an city that is impoverished some locals have actually nil to lose. And with a law that is local agency that pales in comparison to first-world nations, crime is of utmost concern. A moroccan that is 22-year-old boxer arrested just this morning after wanting to rape two maids.
- Terrorism: The united states of america has over 1,000 spies in Rio monitoring terror threats and everything that is doing can to keep Team USA safe. Military forces will also be on standby.
- Housing: Several countries have actually deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a luxurious cruise liner effective at accommodating 296 guests for 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 las vegas are experts at setting lines on sports they know inside 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 very first time since the 2000 Olympics, Nevada sportsbooks are selling odds on 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 more than Vegas, now might end up being the time and energy to place a wager.
For the rest of the country outside of Nevada edges, day-to-day fantasy 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 enough 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 an amazing number of her time decrying Trump’s company record and general disposition.
Hillary Clinton spent plenty of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, combined with a week that is devastating her opponent, is working. (Image: Andrew Harnik/AP)
Appearing before A las vegas audience on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked their record that is corporate in Atlantic City and nevada.
‘I went to Atlantic City and I also met a number of small businesses, too as workers, plumbing technicians and painters, glass installers, marble installers, at one of his true resorts. They finished the ongoin work . . . and they submitted their bill, and also the Trump individuals said, ‘No, we’re perhaps not going to pay you,” Clinton reported.
Though Trump happens to be largely removed from the Trump Taj Mahal since 2009, whenever Trump Entertainment Resorts filed for bankruptcy, the home, and along with it the Trump casino brand, will power down for good on Labor Day.
Before criticizing Trump, Clinton praised Nevada Senator Harry Reid (D) who introduced the Democratic candidate at the event. Reid, that is offered in Congress representing Nevada since 1983, is pro-gambling, but has also expressed support for the Restoration of America’s Wire Act (RAWA), the gambling that is anti-online, an uncommon stance in the first state to legalize online poker in America.