The Trump Taj Mahal is about to end up being the 5th Atlantic City casino to shut its doorways for good in 3 years. Its closing will signal end to your Trump casino brand name forever.
Union members protest outside the Trump Taj Mahal, which will close its doorways 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 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 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 attempt to save your self the Taj.
Icahn stepped in to rescue the casino in 2014, when its owners that are previous Trump Entertainment, declared bankruptcy. The billionaire raider that is corporate the majority of its $286 million financial obligation, which he ended up being ready to convert into equity.
Icahn also said he was prepared to invest $100 million in the property, if, and only if, he had been granted concessions that are certain the city. These included the short-term cessation of worker pension and healthcare advantages, that have end up being the focus of the squabble between Icahn Enterprises and also the casino workers’ union.
Out $100 Million
According to neighborhood 54 leader Bob McDevitt, Icahn has selected to ‘burn the Trump Taj Mahal down’ in order to ‘punish’ strikers.
‘ For a few million bucks, he could have had labor peace and a content work force,’ McDevitt said in a statement. ‘But rather 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 with what he is 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 operation regarding the casino impossible.
‘Currently, the Taj is multimillions that are losing month, and now using this hit, we see no road to profitability,’ Rodio said. He included that Icahn Enterprises had lost around $100 million since it took over the Taj.
Bankrupt Eighth Wonder
The casino was announced to be the ‘eighth wonder associated with the world’ by the current Republican nominee that is presidential he opened it in 1990, at a price of $1 billion. In 1991, it became the very first wonder of the world to get 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. 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.
Nonetheless, in 2014, incensed by exactly what he saw as Trump Entertainment’s mismanagement of this Taj and its cousin 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 also relinquished the stake when Trump Entertainment declared for bankruptcy protection.
The Labor Day week-end closure for the Trump Taj Mahal will keep only seven casinos operating into the beachside resort, that has been fighting financial issues for years.
FBI Busts Significant Mafia Crime Syndicate, Included Prohibited Gambling Ops
A massive Mafia arm that engaged in illegal gambling, extortion, gun-running, and fraudulence, 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 boss for 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 crime 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 so-called boss of the Philadelphia Mob. Merlino has beaten murder charges in the past, but served jail time for racketeering.
The variety 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 criminal empire infiltrated stretched from Massachusetts to Florida, said US Attorney for the Southern District of brand New York Preet Bharara.
Each of the defendants are alleged to be section of a group referred to as the East Coast LCN Enterprise, an ‘organized criminal enterprise,’ according to the indictment, that has been formed following a pact involving the four targeted 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 unlawful schemes remains the play that is go-to 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 right time, operating outside of the scope 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 involved infiltration by an undercover FBI agent to the ranks of the organization.
Investigators have amassed tens of thousands of hours of testimony gathered through wiretaps while 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 supply of the organization’s revenue, according to the indictment. It owned an establishment in nyc that held poker tournaments and took wagers on horses, and additionally 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 have been in Rio de Janeiro to compete at the 2016 Summer Olympics, nevertheless the victory that is greatest comes 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 even though the athletes, fans, and news are prepared for the competitions, it isn’t quite 1xbet Ð·ÐµÑ€ÐºÐ°Ð»Ð¾ ÑÐ°Ð¹Ñ‚Ð° Ð¾Ñ„Ð¸Ñ†Ð¸Ð°Ð»ÑŒÐ½Ñ‹Ð¹ ÑÐ°Ð¹Ñ‚ Ð²Ñ…Ð¾Ð´ therefore clear that the city itself is.
Starting ceremonies begin at 8 pm local time in Rio.
The city that is brazilian 60 minutes ahead regarding the United States’ coveted Eastern time area. NBC will delay its protection by an 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 disciplines now through the closing ceremonies on August 21. But after years of planning and planning, 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 likely have 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 anticipated to push Olympic organizers right back to keeping the event in more stable areas of this world.
Africa happens to be the continent that is only never host an Olympics. That most likely won’t alter anytime quickly.
While Rio’s mishandling will have long-term effects, the International Olympic Committee (IOC) and nations round the globe are more worried about the next 16 days in Rio.
- Zika: The most problem that is serious Rio is actually the littlest. Mosquitos infected with Zika, a virus that may cause birth that is severe, remains 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 is an city that is impoverished some locals have nothing to lose. And by having 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 morning after wanting to rape two maids.
- Terrorism: The usa 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 actually deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a luxurious cruise liner capable of accommodating 296 guests because of their stay in Rio.
Let the Betting Begin
In Nevada and Las Vegas, the sportsbooks have it right more often than they get it wrong. Oddsmakers in las vegas are experts at setting lines on sports they know inside 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 very first time since the 2000 Olympics, Nevada sportsbooks are offering odds regarding 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, many aren’t quite as familiar with gymnastics, curling, speed walking, javelin, and other Olympic disciplines.
If you’ve been a devout follower of canoe slalom or handball and think you realize more than Vegas, now might function as the time to place a wager.
For the rest of the country outside of Nevada edges, day-to-day dream activities 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 into the all-important move state of Nevada, where she invested a considerable quantity 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, coupled with a week that is devastating her opponent, is working. (Image: Andrew Harnik/AP)
Showing up before a vegas crowd on 4, Clinton called Trump ‘temperamentally unfit’ to be president august. She also attacked his corporate record in both Atlantic City and Las Vegas.
‘i went to Atlantic City and I met a true number of small enterprises, too as workers, plumbing technicians and painters, glass installers, marble installers, at one of his true resorts. They finished the work . . . and they presented their bill, as well as the Trump people said, ‘No, we are maybe not going to pay you,” Clinton reported.
Though Trump was mostly taken from the Trump Taj Mahal since 2009, when Trump Entertainment Resorts filed for bankruptcy, the property, and along with it the Trump casino brand, will power down for good on Labor Day.
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 gambling that is anti-online, an uncommon stance in the 1st state to legalize Web poker in America.