The Trump Taj Mahal is about to become the Atlantic that is fifth City to shut its doorways for good in 3 years. Its closing will signal end to the Trump casino brand for good.
Union members protest outside the Trump Taj Mahal, which will shut its doors on September 4, 2016. Icahn Enterprises says it has lost $100 million on the venture.
In the middle of commercial action by members of the Unite Here Local 54 Union, who’ve been picketing the Taj for weeks, investor Carl Icahn has abadndoned the stricken casino and will shutter it permanently on September 4.
That closure date strikes right in the center 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 try 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 majority of its $286 million debt, which he was prepared to convert into equity.
Icahn also said he was ready to invest $100 million within the home, if, and only if, he were granted concessions that are certain the town. These included the cessation that is temporary of pension and healthcare benefits, which have get to be the focus of the squabble between Icahn Enterprises plus the casino workers’ union.
Out $100 Million
According to regional 54 frontrunner Bob McDevitt, Icahn has plumped for to ‘burn the Trump Taj Mahal down’ in an effort to ‘punish’ strikers.
‘ For a few million dollars, he may have had labor peace and a content employees,’ McDevitt stated in a statement. ‘But alternatively he’d rather slam the entranceway shut on these long-lasting workers just to punish them and attempt to break their strike. In the long run, he’ll have to live in what he’s done to working people in Atlantic City.’
But according to Tony Rodio, leader of Icahn Enterprises’ casino subsidiary Tropicana Entertainment, the employees’ demands have made the continued procedure regarding the casino impossible.
‘Currently, the Taj is losing multimillions a month, and today with this attack, we see no road to profitability,’ Rodio stated. He added that Icahn Enterprises had lost around $100 million since it took over the Taj.
Bankrupt Eighth Wonder
The casino was announced to end up being the ‘eighth wonder of this 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 globe to go under since the Colossus of Rhodes was 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. While he has had nothing to do with all the handling of the Taj since, he managed to negotiate a deal whereby he retained a ten percent stake in the casino in substitution for the usage of his famous brand.
Nonetheless, 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 his old friend Icahn’s intervention. He additionally relinquished the stake when Trump Entertainment declared for bankruptcy security.
The Labor Day weekend closure associated with Trump Taj Mahal will keep only seven casinos running within the beachside resort, which has been fighting problems that are financial years.
FBI Busts Significant Mafia Crime Syndicate, Included Prohibited Gambling Ops
A massive Mafia arm that 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 regarding the Philadelphia Mafia, was one of 46 alleged mobsters arrested down and up the East Coast on Thursday, following a major fbi and nyoctf infiltration and bust. (Image: miamiherald.com)
Alleged members 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 had been Joseph ‘Skinny Joey’ Merlino, the boss that is alleged of Philadelphia Mob. Merlino has beaten murder costs 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 regarding the Mob
The scale that is sheer scope of the operations shows that the Mafia is still a force become reckoned with in present-day America. The vast criminal empire infiltrated stretched from Massachusetts to Florida, said US Attorney for the Southern District of New York Preet Bharara.
All of the defendants are alleged become element of a group called the East Coast LCN Enterprise, an ‘organized criminal enterprise,’ according to the indictment, which was formed following a pact involving the four targeted brand new York families plus the Philadelphia Mafia.
‘ The Mob remains a scourge on this populous 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 continues to be the go-to play in 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 time, running away from scope of legality in the US.
The arrests have a joint research between the FBI and New York’s Organized Crime Task Force (OCTF), which spanned several years and involved infiltration by an undercover FBI agent into the ranks of the corporation.
Investigators have amassed several thousand hours of testimony gathered through wiretaps and the cooperation of a witness. The 32-page indictment, unsealed on Thursday, details incidents of assaults, threats, and arson.
Prohibited gambling was a big way to obtain the organization’s income, according to the indictment. It owned an establishment in New York that held poker tournaments and took wagers on horses, and additionally operated sports wagering organizations based in New York, Florida, New Jersey, and Costa Rica.
All defendants plead not responsible, and the majority had been 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 come in Rio de Janeiro to compete at the 2016 Summer Olympics, but 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 evening in Rio de Janeiro, and while the athletes, fans, and media are ready for the competitions, it really isn’t quite so clear that the city itself is.
Starting ceremonies begin at 8 pm local time in Rio.
The Brazilian city is 1 hour ahead for the United States’ coveted Eastern time area. NBC will delay its protection by the hour to air the event at 8 pm ET alternatively of 7 pm, much to your dismay of numerous 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 planning, or lack thereof on the component of Rio, plenty of serious issues linger as the world’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 particular severe shortcomings in adequately preparing Rio is expected to push Olympic organizers back to keeping the occasion in more stable areas associated with the world.
Africa has become the continent that is only never host an Olympics. That most likely will not change anytime quickly.
While Rio’s mishandling will have long-term consequences, the International Olympic Committee (IOC) and countries around the globe are more worried about the next 16 days in Rio.
- Zika: The most serious problem in Rio is actually the tiniest. Mosquitos infected with Zika, a virus that will cause birth that is severe, stays 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 actually nothing to readily lose. And having a law that is local agency that pales compared 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 of america has over 1,000 spies in Rio monitoring terror threats and everything that is doing can to keep Team USA safe. Army forces are 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 in Rio.
Let the Betting Begin
In Nevada and nevada, 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 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 on the games. The Nevada Gaming Commission opted to include certain amateur contests in February of 2015.
While every book in the Silver State knows football, baseball, basketball, and ice hockey, numerous 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 know more than Vegas, now might end up being the time to place a wager.
For the rest of the country outside of Nevada edges, day-to-day dream recreations operators are providing 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 move state of Nevada, where she spent an amazing amount of her time decrying Trump’s company record and disposition that is general.
Hillary Clinton invested a good amount 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 audience on 4, Clinton called Trump ‘temperamentally unfit’ to be president august. She also attacked his corporate record both in Atlantic City and Las vegas, nevada.
‘I went to Atlantic City and I also met a number of small businesses, also as workers, plumbing technicians and painters, glass installers, marble installers, at one of his true resorts. They finished the ongoin work . . . and they presented their bill, while the Trump people said, ‘No, we are maybe not going to pay you, » Clinton reported.
The property, and along with it the Trump casino brand, will shut down for good on Labor Day though Trump has myfreepokies.com 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 gambling that is anti-online, an unusual stance in the 1st state to legalize online poker in the usa.