The Trump Taj Mahal is about to end up being the 5th Atlantic City casino to close its doorways once and for all in 3 years. Its closing will signal a final end to your Trump casino brand name forever.
Union members protest outside the Trump Taj Mahal, which will shut 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 have been picketing the Taj for weeks, investor Carl Icahn has given up on the casino that is stricken 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 might 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 debt, which he had been prepared to convert into equity.
Icahn additionally said he had been ready to invest $100 million in the home, if, and just if, he had been granted concessions that are certain the city. These included the cessation that is temporary of pension and healthcare advantages, which may have become the focus of the squabble between Icahn Enterprises together with casino workers’ union.
Out $100 Million
According to Local 54 leader Bob McDevitt, Icahn has opted for to ‘burn the Trump Taj Mahal down’ so as to ‘punish’ strikers.
‘ For a few million bucks, he could have had labor peace and a work that is content,’ McDevitt said in a statement. ‘But instead he’d rather slam the entranceway shut on these long-lasting workers just to discipline them and attempt to break their strike. In the long run, he’ll have to live with what he is done to people that are working Atlantic City.’
But according to Tony Rodio, leader of Icahn Enterprises’ casino subsidiary Tropicana Entertainment, the employees’ demands have made the continued procedure associated with the casino impossible.
‘Currently, the Taj is multimillions that are losing month, now with this particular strike, we see no path 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 ‘eighth wonder associated with 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 wonder that is first of world to go under since the Colossus of Rhodes ended up being destroyed by an earthquake in 226 BC.
In 2009, Trump sold his Atlantic City casino interests to 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 exactly 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 eliminated from both casinos. He later relented following their old friend Icahn’s intervention. He also relinquished the stake when Trump Entertainment declared for bankruptcy protection.
The Labor Day week-end closure associated with Trump Taj Mahal will keep only seven gambling enterprises running within the beachside resort, that has been fighting financial issues for years.
FBI Busts Major Mafia Crime Syndicate, Included Prohibited 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 alleged mob associates, soldiers, capos, and one reputed boss, all in locations up and down the East Coast.
Joey Merlino, the reputed employer for the Philadelphia Mafia, was one of 46 alleged mobsters arrested down and up the East Coast on Thursday, after A fbi that is major and infiltration and bust. (Image: miamiherald.com)
Alleged members 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 alleged boss of the Philadelphia Mob. Merlino has beaten murder fees in the past, but served jail 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 of this Mob
The sheer scale and scope of the operations shows that the Mafia is still a force become 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.
All of the defendants are alleged to be part of a group called the East Coast LCN Enterprise, an ‘organized criminal enterprise,’ according to the indictment, that was formed following a pact between your four targeted brand new York families as well as the Philadelphia Mafia.
‘ The Mob remains a scourge with this city and around the country,’ said Bharara. ‘From loan-sharking and gambling that is illegal to credit card and health care fraud, and also firearms trafficking, today’s Mafia is fully diversified.
‘As alleged, threatening to assault, maim, and kill people who block the way of their criminal schemes remains the play that is go-to 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 right time, running 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 included infiltration by an undercover FBI agent in to the ranks of the corporation.
Investigators have actually amassed a large number of hours of testimony collected through wiretaps and the cooperation of a witness. The indictment that is 32-page unsealed on Thursday, details incidents of assaults, threats, and arson.
Prohibited gambling had been a big supply of the organization’s income, in accordance with the indictment. It owned an establishment in ny that held poker tournaments and took bets on horses, and also operated sports businesses that are betting in ny, Florida, New Jersey, and Costa Rica.
All defendants plead not responsible, and the majority were 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 have been in Rio de Janeiro to compete at the 2016 Summer Olympics, however the greatest victory will come by way 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 local time in Rio.
The city that is brazilian 1 hour ahead associated with United States’ coveted Eastern time area. NBC will wait its protection by the full hour to air the event at 8 pm ET instead of 7 pm, much to your dismay of several fans.
More than 11,000 athletes will compete in 39 sport disciplines now through the closing ceremonies on 21 august. But after years of planning and preparation, or lack thereof on the part of Rio, plenty of serious concerns linger as the globe’s sporting tournament that is greatest begins.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will probably have lasting impact on the games. Brazil is the first South American country to play host to an Olympics, as well as its severe shortcomings in adequately preparing Rio is anticipated to push Olympic organizers back to holding the event in more stable regions associated with globe.
Africa happens to be the continent that is only 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 can cause severe birth defects, continues to be 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 can be an impoverished city where some locals have nil to lose. And with a law that is local agency that pales compared to first-world nations, crime is of utmost concern. a 22-year-old moroccan boxer had been arrested just this early morning after wanting to rape two maids.
- Terrorism: The United States has over 1,000 spies in Rio monitoring terror threats and doing everything they can to keep Team USA safe. Army forces are on standby.
- Housing: Several countries have deemed the athletes’ town uninhabitable. Team USA basketball countered by renting a cruise that is luxurious effective at accommodating 296 guests due to their stay static in Rio.
Let the Betting Begin
In Nevada and 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 in and out, but this year’s Olympics presents a series of challenges myfreepokies.com for the bookies, and possibly a number of preferred odds for gamblers.
For the time that is first the 2000 Olympics, Nevada sportsbooks are offering odds regarding the games. The Nevada Gaming Commission opted to consist of certain contests that are amateur February of 2015.
While every book in the Silver State knows football, baseball, baseball, and ice hockey, many aren’t quite as familiar with gymnastics, curling, speed walking, javelin, and other disciplines that are olympic.
If you’ve been a devout follower of canoe slalom or handball and think you understand more than Vegas, now might function as time to place a wager.
For the remainder country outside of Nevada boundaries, day-to-day dream sports operators offer a smattering of competitions.
Hillary Clinton Campaigns Through Nevada, Condemning Donald Trump
Hillary Clinton doesn’t believe her GOP opponent Donald Trump is competent sufficient to assume the Oval Office. The Democratic presidential nominee made two stops this week in the all-important swing state of Nevada, where she invested a substantial number of her time decrying Trump’s company record and disposition that is general.
Hillary Clinton spent plenty of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, coupled with a devastating week for her opponent, is working. (Image: Andrew Harnik/AP)
Showing up before A las vegas audience on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked his record that is corporate in Atlantic City and nevada.
‘we went to Atlantic City and I came across a number of smaller businesses, aswell as workers, plumbing technicians and painters, glass installers, marble installers, at one of his resorts. They finished the ongoin work . . . and they submitted their bill, plus the Trump individuals said, ‘No, we are perhaps not going to pay you,” Clinton stated.
Though Trump has been mainly taken off the Trump Taj Mahal since 2009, whenever Trump Entertainment Resorts filed for bankruptcy, the property, and along side it the Trump casino brand, will shut down for good on Labor Day.
Before criticizing Trump, Clinton praised Nevada Senator Harry Reid (D) who introduced the candidate that is democratic the event. Reid, who’s served in Congress representing Nevada since 1983, is pro-gambling, but has also expressed help for the Restoration of America’s Wire Act (RAWA), the anti-online gambling measure, an unusual stance in the first state to legalize Web poker in the us.