The Trump Taj Mahal is approximately to end up being the 5th Atlantic City casino to shut its doorways for good in 3 years. Its closing will signal a final end to the Trump casino brand name for good.
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 endeavor.
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 abadndoned the stricken casino and will shutter it permanently on September 4.
That closure date hits right in the exact middle of Labor Day, that will be a wild coincidence, or it might 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 previous owners, Trump Entertainment, declared bankruptcy. The billionaire corporate raider owned the majority of its $286 million debt, which he ended up being ready to convert into equity.
Icahn also said he was prepared to invest $100 million within the property, if, and only if, he had been granted concessions that are certain the city. These included the temporary cessation of worker pension and healthcare benefits, which have become the focus of the squabble between Icahn Enterprises plus the casino workers’ union.
Out $100 Million
According to Local 54 frontrunner Bob McDevitt, Icahn has chosen to ‘burn the Trump Taj Mahal down’ so as to ‘punish’ strikers.
‘ For the few million dollars, he may 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 long-lasting workers just to punish them and attempt to break their strike. In the long run, he’ll have to live using what he is 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 regarding the casino impossible.
‘Currently, the Taj is multimillions that are losing month, and today using this hit, we see no road to profitability,’ Rodio said. He added 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 of 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 first wonder of the world to go 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 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.
However, in 2014, incensed by what he saw as Trump https://myfreepokies.com/pelican-pete/ Entertainment’s mismanagement associated with Taj and its sis Atlantic City property the Plaza, he litigated to have his name eliminated 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 week-end closure for the Trump Taj Mahal will keep just seven casinos running in the beachside resort, which has been fighting financial problems 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 of 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 criminal activity 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 boss that is alleged of Philadelphia Mob. Merlino has beaten murder fees in the past, but served prison time for racketeering.
The list 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 for 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 empire that is criminal stretched from Massachusetts to Florida, said US Attorney for the Southern District of brand New York Preet Bharara.
Every one of the defendants are alleged become element of a group known as the East Coast LCN Enterprise, an ‘organized criminal enterprise,’ according to the indictment, that was formed following a pact between your four targeted brand new York families and 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 even firearms trafficking, today’s Mafia is fully diversified.
‘As alleged, threatening to assault, maim, and kill people who get in the way of these 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 right time, operating away from scope of legality in the US.
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 organization.
Investigators have amassed tens of thousands of hours of testimony collected through wiretaps and the cooperation of a witness. The 32-page indictment, unsealed on Thursday, details incidents of assaults, threats, and arson.
Illegal 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 wagers on horses, and additionally operated sports businesses that are betting in ny, Florida, nj-new Jersey, and Costa Rica.
All defendants plead not guilty, and the majority had been released on $300,000 bond, 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 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 even though the athletes, fans, and news are prepared for the competitions, it’sn’t quite therefore clear that the city itself is.
Starting ceremonies begin at 8 pm time that is local Rio.
The city that is brazilian 1 hour ahead associated with 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 several 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 preparation, or lack thereof on the component 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 probably have a lasting impact on 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 expected to push Olympic organizers right back to holding the occasion in more stable regions associated with the world.
Africa is currently the continent that is only never host an Olympics. That likely won’t alter anytime soon.
While Rio’s mishandling will have long-term consequences, the International Olympic Committee (IOC) and nations around the world are more focused on 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 can cause severe birth defects, remains rampant.
- Water: Sewage-infested waters surrounding the city contain high degrees of bacteria. Open-water swimmers have been told not to ever submerge their heads while competing.
- Crime: Rio is definitely an city that is impoverished some locals have actually nil to lose. And by having a local police agency that pales in comparison to first-world countries, crime is of utmost concern. a 22-year-old moroccan boxer had been arrested just this 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. Army forces are also on standby.
- Housing: Several countries have deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a luxurious cruise liner with the capacity of accommodating 296 guests due to their stay static in Rio.
Let the Betting Begin
In Nevada and Las vegas, nevada, the sportsbooks have it right more often it wrong than they get. Oddsmakers in Sin City 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 few 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 add certain contests that are amateur 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 Olympic disciplines.
If you’ve been a follower that is devout of slalom or handball and think you realize more than Vegas, now might be the time for you to place a wager.
For all of those other country outside of Nevada borders, day-to-day dream recreations 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 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 amount of her time decrying Trump’s company record and disposition that is general.
Hillary Clinton invested a lot of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, along with a devastating week for her opponent, is working. (Image: Andrew Harnik/AP)
Showing up before a nevada audience on 4, Clinton called Trump ‘temperamentally unfit’ to be president august. She also attacked his business record in both Atlantic City and nevada.
‘i went to Atlantic City and I met a true number of small businesses, too as workers, plumbing technicians and painters, cup installers, marble installers, at one of his true resorts. They finished the work . . . and they presented their bill, and the Trump people said, ‘No, we are not going to pay you,” Clinton advertised.
Though Trump happens to be largely taken off the Trump Taj Mahal since 2009, whenever Trump Entertainment Resorts filed for bankruptcy, the home, and along with it the Trump casino brand, will shut down 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, who’s offered in Congress representing Nevada since 1983, is pro-gambling, but has also expressed help for the Restoration of America’s Wire Act (RAWA), the gambling that is anti-online, an unusual stance in the first state to legalize Web poker in the us.