Carl Icahn desires to revitalize the Taj Mahal in Atlantic City and conserve thousands of jobs along the way, but he says it cannot be done unless local union workers are prepared to compromise. Unhappy union employees, shown only at an early on 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 ended up being authorized by the newest 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 whenever you pull into the Taj Mahal, it is dirty, it’s dated, and it requires to be freshened up,’ Trump Entertainment CEO Robert Griffin said for the settlement. ‘I feel extremely highly that the Taj Mahal will do well.’
That is going to be no task that is easy nevertheless, while the north end boardwalk gambling venue continues to operate at a loss, including being $8.7 million in the red for 1st quarter of 2015. The hotel’s 2,010 spaces had been less than 50 percent full throughout the first three months of this 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 that he can restore the Taj to its former days of glory. But one key condition the mogul insists on is that regional 54 additionally the UNITE HERE unions stop their pursuit of getting a court mandate Icahn to reinstate benefits for workers that were terminated by Trump Entertainment during bankruptcy procedures.
On Wednesday, Icahn told reporters he sees the Taj being reestablished much like he did with the Tropicana, the other Atlantic City casino under his ownership.
‘Although Local 54 seems fixated at all costs on damaging the Taj, and risking its closure and the loss in almost 3,000 jobs, we have always been positive,’ 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 users.
‘It is definitely an undisputable fact that your union leadership refused to negotiate with the Taj as its losses were mounting also it was pushed into bankruptcy. Your union leadership declined to take into account any concession that would have helped keep the Taj afloat, and that’s because your jobs usually do not matter to the union leadership,’ Icahn composed.
The once bustling gambling mecca associated with the east coast is now home to just eight total casinos, and Icahn now has control of two, or 25 per cent of the city’s gaming venues. That means along with Caesars Entertainment, owners of Bally’s, Caesars Atlantic City, and Harrah’s, Icahn has a monopoly that is small town where the overall game of Monopoly relies.
Thought it is understandable union workers want and need their health insurance coverage and retirement advantages reinstated, their tactics might be going about this within the wrong way. This week, Local 54 delivered a letter to Icahn’s midtown Manhattan workplace having a list of its demands, along side an apple pie, a dig in response to Icahn saying ‘apple pie and flowers isn’t how a world works’ previously this year.
Jeb Bush Latest GOP Candidate to Enter Republican Presidential Race
Today officially official: After many months of unofficial fundraising, Jeb Bush confirmed his bid for the 2016 GOP nomination. The son and brother of two past US presidents is hoping to separate his campaign from their instead famous family name. Kind of. (Image: Erik Schelzig/AP)
Jeb Bush joined the ever-expanding crowd of Republican candidates in the 2016 election that is presidential Monday, having an statement at Miami-Dade College in the afternoon. But unlike lots of the greater than a dozen prospects into 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 in the early going for the campaign.
‘ In any language my message will be a confident 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 immigrant that is mexican married Jeb 41 years ago, 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 was initially from León, Guanajuato in Mexico, will certainly be an important force in a country grappling with immigration and dual-language problems on a basis that is almost daily.
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 migrant worker and food server.
Bush may require the assistance. Although the former Florida governor is frequently the first choice in national polls of Republican voters, though that advantage is incredibly narrow. In reality, it may be more accurate to look at Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders as of this early stage.
Strong Establishment Candidate
That stated, Bush has lots of advantages that will make their campaign a strong one. For one, he will have no trouble money that is raising.
One PAC that is super that supporting him had hoped to boost $100 million by the finish of June, even though they’ll almost certainly come up short of that goal, it’s clear there will be lots of funding for the Bush war chest.
He will also have endorsements that are numerous Republican establishment figures, in addition to a title that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is trying not to drive on at the least the obvious of coattails. After all, that famous last name is a double-edged sword, based on which voters you are speaking to.
While both his daddy and brother have previously served as president, Jeb Bush is trying to avoid being seen simply since the next in line of succession, with a ‘royal’ aspect that many voters may perhaps not be comfortable with.
Campaign Was Unofficial for Months
Of course, by any standard that is reasonable Bush’s campaign has been underway for months, but he has carefully skirted the line to avoid formally launching a campaign company until now. Throughout the weekend, Bush told CNN that becoming a candidate that is official allow him to better articulate his message to the US individuals.
‘we think this transition up to a candidacy will allow me to be more direct about my advocacy associated with the leadership skills essential 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, we’ll supply alternatives to the path we’re on as well, so I’ll be more specific on policy.’
Historically Opposed to Gambling
It is uncertain whether we’ll get any details on Bush’s gaming policies, but his previous stances on gambling issues while governor of Florida make it pretty clear that he is no fan of casinos, as he strongly opposed gambling expansion within the state. Their stances on Internet gambling are less clear, though it is difficult to imagine he will be any friendlier to online poker and casino games than he was with their land-based counterparts.
Perhaps moreover to his campaign, Bush may need to make an impression on conservative voters who aren’t fundamentally on board with his stances on immigration and education, both areas where their wife can become a campaign that is important. He also recently struggled with questions over how he would have managed the war in Iraq, and fired his campaign manager week that is just last to squabbles inside their camp.
New Jersey Casinos See Online And Live Gains In May
The Golden Nugget has seen huge gains in its online gambling operations over the past year. (Image: GoldenNugget.com)
New Jersey’s online gambling market continues to grow, helping bolster the remaining eight gambling enterprises still operating in Atlantic City.
But while the entire numbers are positive, perhaps not all games and casinos are sharing equally in the fortune that is good.
Based on the New Jersey Department of Gaming Enforcement (DGE), on line gambling revenues were around $12.47 million in May.
That represents a rise in excess of 19 percent 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 comparison, online poker rooms are struggling. Internet poker brought in just under $1.93 million in May, down from $2.27 million in identical month this past year.
That figure marks the second-lowest monthly revenue for online poker in New Jersey, with only last November trailing the absolute most month that is recent.
Once responsible for a quarter or more of on line gambling revenues in nj, poker is now no more than 15 per cent regarding the market.
The 888/World Series of Poker partnership felt most of the damage on the poker side of things. The $831,799 they brought in through their Internet poker partnership was a low that is all-time while their only competitor in the state, Borgata/partypoker, held fairly steady.
Holding steady was a theme for the Borgata, as its general Internet revenues were down by about one percent also.
It really is still the online market leader, collecting about 32 percent of all revenues, but growth appears 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 organizations have experienced 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 because the closure associated with Trump Plaza, and has ridden that new partnership to a clear place that is second their state’s iGaming landscape.
Real time Numbers Promising for Atlantic City
But while the figures that are online show a mixture of ups and downs for Atlantic City’s casinos, the overall numbers for the industry were very encouraging in May. Overall, casinos won $208.6 million for the month, 5.3 percent a lot more than those same eight casinos took in last year.
To make sure, the overall pie is still smaller: in the event that you include three more gambling enterprises which were operating last might but have since closed, the revenues are down by about 9 %.
But with fewer gambling enterprises in the mix, the might revenues still represent a exemplary result for the casinos that are nevertheless in business.
‘That’s a showing that is strong what our detractors say is a weak market,’ said New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look during the results for usually the one thirty days or for the first five months of this 12 months, total video gaming revenue is up for the current operators. The size of industry may be smaller, but https://casino-online-australia.net/planet-7-oz-casino-review/ the health for the current operators is getting stronger.’
The winner that is biggest was Caesars, which saw its month-to-month revenues increase by 51 percent over last might. That was largely due to a month that is particularly unlucky high-stakes table games last year for Caesars.
Just two casinos were down year-over-year, like the Borgata, which saw revenues fall by 4.7 per cent but nonetheless easily led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, which can be in the act to be obtained by Carl Icahn.