
The Trump Taj Mahal is approximately to end up being the fifth Atlantic City casino to shut its doorways for good in 3 years. Its closing will signal a final end to 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 middle of industrial action by members of the Unite Here Local 54 Union, who’ve been picketing the Taj for days, investor Carl Icahn has given up on the stricken casino and will shutter it permanently on September 4.
That closure date hits right in the middle of Labor Day, which might be a wild coincidence, or it could be a deliberate and final insult to the union, which Icahn blames for derailing his last-ditch try 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 financial obligation, which he ended up being prepared to convert into equity.
Icahn also said he was willing to invest $100 million in the home, if, and just if, he had been granted concessions that are certain the city. These included the cessation that is temporary of pension and healthcare benefits, which may have get to be the focus of the squabble between Icahn Enterprises plus the casino employees’ union.
Out $100 Million
Based on neighborhood 54 leader Bob McDevitt, Icahn has opted for to ‘burn the Trump Taj Mahal down’ in order to ‘punish’ strikers.
‘ For the few million bucks, he may have had labor peace and a work that is pelican pete slot app content,’ McDevitt said in a statement. ‘But rather he’d rather slam the door shut on these workers that are long-term to punish them and attempt to break their strike. In the long run, he’ll have to live in what he’s done to people that are working Atlantic City.’
But according to Tony Rodio, chief executive of Icahn Enterprises’ casino subsidiary Tropicana Entertainment, the workers’ demands have made the continued procedure for the casino impossible.
‘Currently, the Taj is losing multimillions a month, and now with this strike, we see no road to profitability,’ Rodio stated. He included that Icahn Enterprises had lost around $100 million since it overran the Taj.
Bankrupt Eighth Wonder
The casino was declared to be the ‘eighth wonder associated with the world’ by the current Republican presidential nominee when he opened it in 1990, at a price of $1 billion. In 1991, it became the very first wonder of the globe to get under since the Colossus of Rhodes ended up being destroyed by an earthquake in 226 BC.
In 2009, Trump sold their Atlantic City casino interests to team of venture capitalists, who formed Trump Entertainment. While he has had absolutely nothing to do with 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 employment of his famous manufacturer.
Nevertheless, in 2014, incensed by exactly what he saw as Trump Entertainment’s mismanagement regarding the Taj and its sis Atlantic City property the Plaza, he litigated to have his name removed 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 security.
The Labor Day week-end closure regarding the Trump Taj Mahal will leave just seven gambling enterprises running in the beachside resort, which includes 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 fraudulence, 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 up and down the East Coast on Thursday, following A fbi that is major and 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 had been Joseph ‘Skinny Joey’ Merlino, the alleged boss of the Philadelphia Mob. Merlino has beaten murder costs within 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 of the Mob
The scale that is sheer scope of the operations shows that the Mafia is still a force to be 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.
Each of the defendants are alleged become part of a group called the East Coast LCN Enterprise, an ‘organized criminal enterprise,’ according to the indictment, which was formed following a pact between your four targeted brand new York families plus 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 also firearms trafficking, today’s Mafia is fully diversified.
‘As alleged, threatening to assault, maim, and kill people who block off the road of the 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, operating away from scope of legality in the usa.
Undercover Agents
The arrests have 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 into the ranks of the business.
Investigators have amassed a huge number of hours of testimony collected through wiretaps as well as 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 source that is big of organization’s revenue, based on the indictment. It owned an establishment in ny that held poker tournaments and took bets on horses, and also operated sports businesses that are betting in nyc, Florida, New Jersey, and Costa Rica.
All defendants plead not guilty, and the majority had been released on $300,000 bond, while some were retained, with no 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, nevertheless the victory that is greatest comes by way 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 ready for the competitions, it’sn’t quite therefore clear that the city itself is.
Opening ceremonies begin at 8 pm time that is local Rio.
The city that is brazilian one hour ahead associated with the United States’ coveted Eastern time area. NBC will wait its coverage by the 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 21 august. But after years of planning and preparation, or lack thereof on the part of Rio, plenty of serious concerns linger as the world’s best sporting tournament starts.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will likely have a impact that is lasting the games. Brazil is the first South American country to play host to an Olympics, as well as its severe shortcomings in adequately preparing Rio is anticipated to push Olympic organizers back to holding the event in more stable regions of this world.
Africa is currently the only continent to never host an Olympics. That most likely won’t alter anytime soon.
The International Olympic Committee (IOC) and nations around the world are more concerned with the next 16 days in Rio while Rio’s mishandling will have long-term consequences.
- Zika: The most serious problem in Rio is physically the tiniest. Mosquitos infected with Zika, a virus that will cause severe birth defects, 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 can be an city that is impoverished some locals have nil to lose. And with a law that is local agency that pales compared to first-world nations, crime is of utmost concern. A moroccan that is 22-year-old boxer arrested just this early morning after trying 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. Military forces are also on standby.
- Housing: Several countries have deemed the athletes’ town uninhabitable. Team USA basketball countered by renting a luxurious cruise liner with the capacity of accommodating 296 guests due to their remain in Rio.
Let the Betting Begin
In Nevada and Las vegas, nevada, 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 in and out, but this year’s Olympics presents a series of challenges for the bookies, and potentially a number of preferred odds for gamblers.
For the very first time since 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 understand significantly 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 boundaries, day-to-day fantasy activities operators offer 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 considerable level of her time decrying Trump’s business record and disposition that is general.
Hillary Clinton spent plenty of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, along with a week that is devastating her opponent, is working. (Image: Andrew Harnik/AP)
Showing up before a nevada audience on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked his record that is corporate in Atlantic City and vegas.
‘I went to Atlantic City and I also came across a number of smaller businesses, also as workers, plumbers and painters, glass installers, marble installers, at one of is own resorts. They finished the work . . . and they submitted their bill, as well as the Trump individuals said, ‘No, we are perhaps not going to pay you,” Clinton reported.
Though Trump has been largely taken out of the Trump Taj Mahal since 2009, when Trump Entertainment Resorts filed for bankruptcy, the home, and along with it the Trump casino brand, will turn off for good on Labor Day.
Before criticizing Trump, Clinton praised Nevada Senator Harry Reid (D) who introduced the candidate that is democratic 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 uncommon stance in the 1st state to legalize online poker in the us.