The Trump Taj Mahal is approximately to become the 5th Atlantic City casino to shut its doorways for good in 3 years. Its closure will signal a final end to the Trump casino brand for good.
Union members protest outside the Trump Taj Mahal, which will shut its doorways on September 4, 2016. Icahn Enterprises says it has lost $100 million on the venture.
In the midst of commercial action by members of the Unite Here Local 54 Union, who have been picketing the Taj for days, 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 middle of Labor Day, which can 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 corporate raider owned the majority of its $286 million debt, which he had been prepared to convert into equity.
Icahn also said he had been ready to invest $100 million into the home, if, and only if, he were granted certain concessions by the city. These included the short-term cessation of worker pension and healthcare advantages, which may have end up being the focus of the squabble between Icahn Enterprises as well as the casino employees’ union.
Out $100 Million
According to Local 54 leader Bob McDevitt, Icahn has opted for to ‘burn the Trump Taj Mahal down’ in order to ‘punish’ strikers.
‘ For a few million dollars, he could have had labor peace and a work that is content,’ McDevitt stated in a statement. ‘But rather he’d rather slam the doorway 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 1xbet Ð·ÐµÑ€ÐºÐ°Ð»Ð¾ ÑÐºÐ°Ñ‡Ð°Ñ‚ÑŒ, 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 now using this strike, we see no path to profitability,’ Rodio said. He included 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 regarding the world’ by the current Republican nominee that is presidential he opened it in 1990, at a cost of $1 billion. In 1991, it became the first wonder of the world to go under since the Colossus of Rhodes had been destroyed by an earthquake in 226 BC.
In 2009, Trump offered their Atlantic City casino interests to group of venture capitalists, who formed Trump Entertainment. While he has had absolutely nothing to do with all the management of the Taj since, he had been able to negotiate a deal whereby he retained a ten percent stake in the casino in substitution for the usage of their famous brand name.
But, in 2014, incensed by just what he saw as Trump Entertainment’s mismanagement associated with the Taj and its sis Atlantic City property the Plaza, he litigated to have his name eliminated from both casinos. He later relented following their friend that is old Icahn intervention. He additionally relinquished the stake when Trump Entertainment declared for bankruptcy protection.
The Labor Day weekend closure of this Trump Taj Mahal will keep only seven gambling enterprises operating into the beachside resort, that has been fighting financial issues 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 alleged mob associates, soldiers, capos, and one reputed boss, all in locations up and down the East Coast.
Joey Merlino, the reputed boss of this 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 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 boss that is alleged of Philadelphia Mob. Merlino has beaten murder costs in the past, but served prison 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 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.
Every one of the defendants are alleged to be section of a group called the East Coast LCN Enterprise, an ‘organized unlawful enterprise,’ according to the indictment, that was formed following a pact between your four targeted New York families as well as 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 off the road of their criminal schemes remains 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, operating beyond your range of legality in the usa.
The arrests follow a investigation that is joint 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 business.
Investigators have amassed a large number of hours of testimony collected through wiretaps and also the cooperation of a witness. The indictment that is 32-page unsealed on Thursday, details incidents of assaults, threats, and arson.
Illegal gambling had been a big way to obtain the organization’s revenue, according to the indictment. It owned an establishment in ny that held poker tournaments and took wagers on horses, and also operated sports wagering organizations based 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, without any 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 at the 2016 Summer Olympics, but the victory that is greatest should 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.
Opening ceremonies begin at 8 pm time that is local Rio.
The city that is brazilian 60 minutes ahead of this United States’ coveted Eastern time zone. NBC will delay its coverage by the hour to air the event at 8 pm ET rather 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 world’s sporting tournament that is greatest starts.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will likely have lasting impact on 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 right back to holding the event in more stable areas for the globe.
Africa happens to be the only continent to never host an Olympics. That most likely won’t change anytime soon.
While Rio’s mishandling will have long-term effects, the International Olympic Committee (IOC) and nations across the globe are more concerned with the next 16 days in Rio.
- Zika: The most problem that is serious Rio is actually the tiniest. Mosquitos infected with Zika, a virus that may cause birth that is severe, continues to be rampant.
- Water: Sewage-infested waters surrounding the city contain high levels of bacteria. Open-water swimmers have been told not to submerge their heads while competing.
- Crime: Rio is definitely an impoverished city where some locals have nil to lose. And by having a local law enforcement agency that pales compared to first-world nations, crime is of utmost concern. a 22-year-old moroccan boxer was arrested just this early morning after trying 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. Military forces will also be on standby.
- Housing: Several countries have deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a luxurious cruise liner effective at accommodating 296 guests due to their stay in Rio.
Let the Betting Begin
In Nevada and vegas, the sportsbooks get it right more often than they go wrong. Oddsmakers in Sin City 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 potentially a few preferred chances for gamblers.
For the time that is first the 2000 Olympics, Nevada sportsbooks are selling odds in 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 have been a follower that is devout of slalom or handball and think you realize more than Vegas, now might function as time for you to place a wager.
For the rest of the country outside of Nevada boundaries, day-to-day fantasy sports operators are offering 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 move state of Nevada, where she invested a substantial quantity of her time decrying Trump’s company record and general disposition.
Hillary Clinton spent a great amount 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)
Appearing before a vegas audience on 4, Clinton called Trump ‘temperamentally unfit’ to be president august. She also attacked his record that is corporate in Atlantic City and Las vegas, nevada.
‘I went to Atlantic City and I came across a number of small enterprises, aswell as workers, plumbers and painters, glass installers, marble installers, at one of is own resorts. They finished the ongoin work . . . and they presented their bill, and the Trump individuals said, ‘No, we’re maybe not going to pay you,” Clinton stated.
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 served 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 uncommon stance in the 1st state to legalize Internet poker in America.