The Trump Taj Mahal is about to end up being the 5th Atlantic City casino to shut its doorways once and for all in 3 years. Its closing will signal end to the Trump casino brand name forever.
Union members protest outside the Trump Taj Mahal, which will close its doors on September 4, 2016. Icahn Enterprises says it has lost $100 million on the endeavor.
In the middle of commercial action by members of the Unite Here Local 54 Union, who have been picketing the Taj for months, 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 coincidence that is wild or it could 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 previous owners, Trump Entertainment, declared bankruptcy. The billionaire raider that is corporate the bulk of its $286 million financial obligation, which he had been prepared to convert into equity.
Icahn additionally said he was prepared to invest $100 million in the property, if, and only if, he were granted certain concessions by the city. These included the short-term cessation of worker pension and healthcare advantages, that have become the focus of the squabble between Icahn Enterprises and the casino employees’ union.
Out $100 Million
In accordance with regional 54 frontrunner Bob McDevitt, Icahn has selected to ‘burn the Trump Taj Mahal down’ in an effort to ‘punish’ strikers.
‘ For the few million dollars, he could have had labor peace and a work that is content,’ McDevitt stated in a statement. ‘But alternatively he’d rather slam the door shut on these long-term workers just to punish them and attempt to break their strike. In the end, he’ll have to live in what he is done to working people in Atlantic City.’
But according to Tony Rodio, leader of Icahn Enterprises’ casino subsidiary Tropicana Entertainment, the workers’ demands have made the continued procedure regarding the casino impossible.
‘Currently, the Taj is multimillions that are losing month, now with this attack, we see no way to profitability,’ Rodio stated. He added that Icahn Enterprises had lost around $100 million since it annexed the Taj.
Bankrupt Eighth Wonder
The casino was declared to function as the ‘eighth wonder regarding the world’ by the current Republican nominee that is presidential he opened it in 1990, at a high price of $1 billion. In 1991, it became the very first wonder of the world to get under since the Colossus of Rhodes was destroyed by an earthquake in 226 BC.
In 2009, Trump sold their Atlantic City casino interests to a combined team of venture capitalists, who formed Trump Entertainment. While he has had nothing to do using the management of the Taj since, he was able to negotiate a deal whereby he retained a ten percent stake in the casino in substitution for the employment of his famous manufacturer.
Nevertheless, in 2014, incensed by what he saw as Trump Entertainment’s mismanagement regarding the Taj and its sis Atlantic City property the Plaza, he litigated to have his name eliminated from both casinos. He later relented following his old friend Icahn’s intervention. He also relinquished the stake when Trump Entertainment declared for bankruptcy protection.
The Labor Day week-end closure of this Trump Taj Mahal will keep only seven gambling enterprises operating into the beachside resort, that has been fighting financial dilemmas for years.
FBI Busts Major Mafia Crime Syndicate, Included Illegal 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 mob that is alleged, soldiers, capos, and one reputed boss, all in locations up and down the East Coast.
Joey Merlino, the reputed employer of 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 users of the Genovese, Gambino, Lucchese, and Bonanno criminal activity families, four of the New York Mob’s top five families, were taken into custody. Key among those arrested ended up being Joseph ‘Skinny Joey’ Merlino, the so-called boss of the Philadelphia Mob. Merlino has beaten murder charges in the past, but served jail time for racketeering.
The directory 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 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 New York Preet Bharara.
Most of the defendants are alleged become element of a group known as the East Coast LCN Enterprise, an ‘organized unlawful enterprise,’ according to the indictment, that was formed following a pact between your four New that is targeted York and also the Philadelphia Mafia.
‘ The Mob remains a scourge with this city and around the country,’ said Bharara. ‘From loan-sharking and unlawful gambling, 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 get in the way of the unlawful schemes continues to be the go-to play in the Mob’s playbook.’
Bharara was notably the lead prosecutor in 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 the usa.
Undercover Agents
The arrests have a investigation that is joint 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 actually amassed a huge number of hours of testimony gathered through wiretaps plus 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 income, in accordance with the indictment. It owned an establishment in New York that held poker tournaments and took wagers on horses, and additionally operated sports wagering companies based in nyc, Florida, nj-new Jersey, and Costa Rica.
All defendants plead not responsible, and the majority were 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 are in Rio de Janeiro to compete during the 2016 Summer Olympics, however the victory that is greatest should come by means 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 time that is local Rio.
The city that is brazilian 1 hour ahead regarding the United States’ coveted Eastern time zone. NBC will wait its coverage by the full hour to air the event at 8 pm ET instead of 7 pm, much to your dismay of many fans.
More than 11,000 athletes will compete in 39 sport procedures now through the closing ceremonies on 21 august. But after years of planning and preparation, or lack thereof on the component of Rio, plenty of serious concerns linger as the globe’s greatest sporting tournament starts.
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 country that is american play host to an Olympics, as well as its severe shortcomings in adequately preparing Rio is expected to push Olympic organizers back to holding the event in more stable regions regarding the globe.
Africa is currently the only continent to never host an Olympics. That most likely won’t alter anytime quickly.
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 problem that is serious Rio is actually the tiniest. Mosquitos infected with Zika, a virus that will cause birth that is severe, continues to be rampant.
- Water: Sewage-infested waters surrounding the city contain high degrees of germs. Open-water swimmers have been told not to ever submerge their heads while competing.
- Crime: Rio can be an city that is impoverished some locals have actually nothing to lose. And having a local law enforcement agency that pales in comparison to first-world countries, criminal activity is of utmost concern. A moroccan that is 22-year-old boxer arrested just this morning after attempting to rape two maids.
- Terrorism: The United States has over 1,000 spies in Rio monitoring terror threats and everything that is doing can to keep Team USA safe. Army forces will also be on standby.
- Housing: Several countries have deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a cruise that is luxurious capable of accommodating 296 guests for their stay static in Rio.
Let the Betting Begin
In Nevada and Las Vegas, the sportsbooks have it right more often than they go wrong. Oddsmakers in las vegas 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 possibly a few preferred odds for gamblers.
For the first time since the 2000 Olympics, Nevada sportsbooks are providing odds in the games. The Nevada Gaming Commission opted to add specific 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 devout follower of canoe slalom or handball and think you know more than Vegas, now might function as the time to place a wager.
For all of those other country outside of Nevada boundaries, daily dream sports operators are selling a smattering of competitions.
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 invested an amazing level of her time decrying Trump’s company 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, combined with a week that is devastating her opponent, is working. (Image: Andrew Harnik/AP)
Appearing before a vegas crowd on 4, Clinton called Trump ‘temperamentally unfit’ to be president august. She also attacked their business record in both Atlantic City and vegas.
‘I went to Atlantic City and I came across a number of small businesses, aswell as workers, plumbers and painters, cup installers, marble installers, at one of is own resorts. They finished the work . https://rubetting.club . . and they submitted their bill, as well as the Trump individuals said, ‘No, we’re maybe 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 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 anti-online gambling measure, an unusual stance in the 1st state to legalize Internet poker in the usa.