Carl Icahn desires 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 only at a youthful 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 had been authorized by the brand 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 think when you pull into the Taj Mahal, it’s dirty, it’s dated, and it requires to be freshened up,’ Trump Entertainment CEO Robert Griffin said of the settlement. ‘I feel really highly that the Taj Mahal will do well.’
That is no task that is easy however, since the north end boardwalk gambling venue continues to operate at a loss, including being $8.7 million in the red for the first quarter of 2015. The hotel’s 2,010 spaces were less than 50 per cent full through the first three months regarding 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 which he can restore the Taj to its former days of glory. But one key condition the mogul insists on is that Local 54 additionally the UNITE HERE unions stop their pursuit of getting a court mandate Icahn to reinstate benefits for workers that have been 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 Local 54 seems fixated at all costs on damaging the Taj, and risking its closure and the loss in almost 3,000 jobs, I have always been optimistic,’ 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 people.
‘It can be an fact that is undisputable your union leadership declined to negotiate with the Taj as its losses were mounting also it was pushed into bankruptcy. Your union leadership declined to consider any concession that would have helped keep the Taj afloat, and that is because your jobs don’t matter to the union leadership,’ Icahn penned.
The once bustling gambling mecca associated with 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 little monopoly on the town where the overall game of Monopoly is based.
Thought it’s understandable union workers want and need their wellness insurance coverage and pension benefits reinstated, their tactics might be going about it into the wrong way. This week, Local 54 delivered a letter to Icahn’s midtown Manhattan office by having 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 world 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 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 presidential election on Monday, having an statement at Miami-Dade College in the afternoon. But unlike most of the greater than a dozen prospects in the GOP field, Bush will be hoping to run from a position of strength, as he shall be one regarding the favorites for the party’s nomination into the early going of the campaign.
‘ In virtually any language my message are going to be an optimistic 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 show critical in helping him reach Hispanic voters. (Image: Bill Ingalls/NASA/Getty)
Columba Bush, who is hitched to your politician for 41 years and had been initially from León, Guanajuato in Mexico, will certainly be an essential force in a country grappling with immigration and dual-language dilemmas on a almost daily basis.
In fact, the tale goes that Mrs. Bush did not even speak English whenever she married Jeb back in 1974. Her mother had been reportedly a worker that is migrant food server.
Bush may need the help. Although the Florida that is former governor usually the first choice in national polls of Republican voters, though that advantage is incredibly narrow. In fact, it may become more accurate to have a look at Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders as of this stage that is early.
Strong Establishment Candidate
That said, Bush has plenty of advantages that will make their campaign a strong one. For one, he will don’t have any trouble money that is raising.
One PAC that is super that backing him had hoped to boost $100 million by the end of June, and even though they will almost certainly come up short of the objective, it’s clear there will be lots of funding for the Bush war chest.
He will have endorsements that are numerous Republican establishment figures, and a name that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is wanting never to ride on at least the obvious of coattails. After all, that famous final name is a double-edged sword, depending on which voters you’re chatting to.
While both his father and brother have previously offered as president, Jeb Bush is trying to avoid being seen merely whilst the next in line of succession, with a ‘royal’ aspect that numerous voters may perhaps not be comfortable with.
Campaign Has Been Unofficial for Months
Needless to say, by any standard that is reasonable Bush’s campaign has been underway for months, but he’s got carefully skirted the line in order to avoid officially launching a campaign organization until now. Throughout the weekend, Bush told CNN that becoming an official candidate will enable him to higher articulate their message to the American individuals.
‘I think this transition to a candidacy allows me to be more direct about my advocacy of this leadership skills necessary 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, I’ll offer up alternatives to the road we’re on as well, therefore I’ll 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 whilst governor of Florida make it pretty clear as he strongly opposed gambling expansion in the state that he is no fan of casinos. His stances on Internet gambling are less clear, though it is hard to imagine he will be any friendlier to online poker and casino games than he was with their counterparts that are land-based.
Perhaps more importantly to their campaign, Bush may need to win over conservative voters who’ren’t fundamentally on board with his stances on immigration and education, both areas where his wife could become a campaign that is important. He also recently struggled with questions over how he’d have handled the war in Iraq, and fired their campaign manager week that is just last 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 bolster the remaining eight casinos still running in Atlantic City.
But while the entire figures are positive, maybe not all games and casinos are sharing equally within the fortune that is good.
In line with the nj-new Jersey Department of Gaming Enforcement (DGE), on the web gambling revenues were up to $12.47 million in May.
That represents an increase of more than 19 % over last May, when the sites brought in simply $10.47 million.
Online Casinos Up, Poker Down
But that growth has been fueled almost 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 year that is last.
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 responsible for a quarter or maybe more of on the web gambling revenues in nj-new jersey, poker is now just about 15 % associated with the market.
The 888/World Series of Poker partnership felt most of the damage on the poker side of things. The $831,799 planet 7 oz bonus codes 2017 they introduced through their Internet poker partnership ended up being an all-time low, while their only competitor in the state, Borgata/partypoker, held fairly steady.
Holding steady was a theme for the Borgata, as its overall Internet revenues were down by about one percent as well.
It’s still the market that is online, collecting about 32 percent of most revenues, but growth seems to have stalled: the business has yet to beat out its 2014 performance online in any thirty days this season.
On the other hand, a few businesses have observed their online offerings remove, none less compared to Golden Nugget.
The casino has taken full advantage of the fact that BetfairCasino.com is now operating through them since the closure associated with the Trump Plaza, and it has ridden that new partnership to a clear second place in the state’s iGaming landscape.
Real time Numbers Promising for Atlantic City
But while the figures that are online show a mix 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 per cent a lot 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 consist of three more gambling enterprises that have been operating last May but have since closed, the revenues are down by about 9 per cent.
However with fewer gambling enterprises in the mix, the May revenues still represent a excellent result for the casinos that are nevertheless running a business.
‘That’s a showing that is strong what our detractors say is a weak market,’ stated New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look during the results for the one month or for the initial five months with this 12 months, total gaming income is up for the present operators. The size of the marketplace may be smaller, but the health associated with the operators that are current getting stronger.’
The biggest champion ended up being Caesars, which saw its monthly revenues enhance by 51 percent over last might. That was largely as a result of particularly unlucky month in high-stakes table games last year for Caesars.
Only two casinos were down year-over-year, such as the Borgata, which saw revenues fall by 4.7 percent yet still easily led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, which will be along the way of being obtained by Carl Icahn.