The Trump Taj Mahal is about to become the fifth Atlantic City casino to shut its doors for good in 3 years. Its closure will signal end towards the Trump casino brand forever.
Union members protest outside the Trump Taj Mahal, which will close its doors on 4, 2016 september. 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 weeks, investor Carl Icahn has abadndoned the casino that is stricken will shutter it permanently on September 4.
That closure date hits right in the center of Labor Day, that will 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 corporate raider owned the bulk of its $286 million debt, which he had been ready to convert into equity.
Icahn also said he was willing to invest $100 million into the home, if, and only if, he were granted certain concessions by the town. These included the cessation that is temporary of pension and healthcare advantages, which have become the focus of the squabble between Icahn Enterprises plus the casino employees’ union.
Out $100 Million
Based on regional 54 leader Bob McDevitt, Icahn has chosen to ‘burn the Trump Taj Mahal down’ in order to ‘punish’ strikers.
‘ For the few million dollars, he could have had labor peace and a work that is content,’ McDevitt said in a statement. ‘But alternatively he’d rather slam the doorway shut on these workers that are long-term to discipline them and attempt to break their strike. In the end, he’ll have to live using what he is done to working people in Atlantic City.’
But according to Tony Rodio, chief executive of Icahn Enterprises’ casino subsidiary Tropicana Entertainment, the workers’ demands have made the continued operation of the casino impossible.
‘Currently, the Taj is losing multimillions a month, now with this specific hit, we see no path 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 declared to end up being the ‘eighth wonder associated with 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 wonder that is first of world to get 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 a combined team of venture capitalists, who formed Trump Entertainment. While he has had absolutely nothing to do utilizing the management of the Taj since, he managed to negotiate a deal whereby he retained a ten percent stake in the casino in return for the application of his famous brand.
Nevertheless, in 2014, incensed by exactly what he saw as Trump Entertainment’s mismanagement of the Taj and its sibling Atlantic City property the Plaza, he litigated to have his name removed from both casinos. He later relented following his friend that is old Icahn intervention. He also 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 within the beachside resort, which includes been fighting financial issues for years.
FBI Busts Significant Mafia Crime Syndicate, Included Illegal 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 mob that is alleged, soldiers, capos, and one reputed boss, all in locations up and down the East Coast.
Joey Merlino, the reputed boss of the Philadelphia Mafia, was one of 46 alleged mobsters arrested down and up the East Coast on Thursday, after 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 newest York Mob’s top five families, were taken into custody. Key among those arrested ended up being Joseph ‘Skinny Joey’ Merlino, the alleged boss of the Philadelphia Mob. Merlino has beaten murder charges in the past, but served prison time for racketeering.
The listing 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 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 empire that is criminal stretched from Massachusetts to Florida, said US Attorney for the Southern District of New York Preet Bharara.
Each of the defendants are alleged become element of a group known as the East Coast LCN Enterprise, an ‘organized unlawful enterprise,’ according to the indictment, that was formed following a pact involving the four New that is targeted York and the Philadelphia Mafia.
‘ The Mob remains a scourge on this populous city and around the country,’ said Bharara. ‘From loan-sharking and unlawful gambling, 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 the way of their criminal schemes remains 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 outside the scope of legality in america.
The arrests have 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 business.
Investigators have actually amassed thousands of hours of testimony gathered through wiretaps and also 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 revenue, in accordance with the indictment. It owned an establishment in New York that held poker tournaments and took bets on horses, and also operated sports betting organizations based in New York, Florida pelican pete free online slots, 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 during the 2016 Summer Olympics, but the victory that is greatest will 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 prepared for the competitions, it really isn’t quite therefore clear that the city itself is.
Starting ceremonies begin at 8 pm local time in Rio.
The Brazilian town is 1 hour ahead associated with United States’ coveted Eastern time zone. NBC will delay its coverage by an full hour to air the event at 8 pm ET instead of 7 pm, much towards the dismay of numerous fans.
More than 11,000 athletes will compete in 39 sport procedures now through the closing ceremonies on August 21. But after years of planning and planning, or lack thereof on the component of Rio, plenty of serious issues 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 American country to play host to an Olympics, and its severe shortcomings in adequately preparing Rio is anticipated to push Olympic organizers back to holding the event in more stable regions for the world.
Africa is currently the only continent to never host an Olympics. That most likely will not alter anytime soon.
While Rio’s mishandling will have long-term consequences, the International Olympic Committee (IOC) and nations across the world are more concerned with the next 16 days in Rio.
- Zika: The most severe problem in Rio is physically the littlest. Mosquitos infected with Zika, a virus that will 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 ever submerge their heads while competing.
- Crime: Rio is definitely an impoverished city where some locals have actually nothing to lose. And with a local law enforcement agency that pales in comparison to first-world nations, crime is of utmost concern. a 22-year-old moroccan boxer ended up being arrested just this morning after wanting 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. Military forces may also be 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 with regards to their stay in Rio.
Let the Betting Begin
In Nevada and Las Vegas, the sportsbooks get 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 few preferred odds for gamblers.
For the time that is first the 2000 Olympics, Nevada sportsbooks are providing odds on the games. The Nevada Gaming Commission opted to include specific amateur contests in 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 follower that is devout of slalom or handball and think you know more than Vegas, now might end up being the time and energy to place a wager.
For the rest of the country outside of Nevada edges, daily dream sports operators are providing a smattering of contests.
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 spent a considerable number of her time decrying Trump’s business record and general disposition.
Hillary Clinton spent a lot 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 crowd on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked his record that is corporate in Atlantic City and Las Vegas.
‘i went to Atlantic City and I met a true number of small enterprises, also as workers, plumbing technicians and painters, cup installers, marble installers, at one of his true resorts. They finished the ongoin work . . . and they presented their bill, while 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 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 anti-online gambling measure, an uncommon stance in the first state to legalize online poker in America.