The Trump Taj Mahal is mostly about to become the Atlantic that is fifth City to close its doorways for good in 3 years. Its closure will signal a final end to your Trump casino brand for good.
Union members protest outside the Trump Taj Mahal, which will close its doorways 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 have been picketing the Taj for weeks, investor Carl Icahn has given up on the stricken casino and will shutter it permanently on September 4.
That closure date strikes right in the middle of Labor Day, that will 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 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 prepared to convert into equity.
Icahn also said he had been prepared to invest $100 million within the property, if, and just if, he were granted certain concessions by the city. These included the short-term cessation of worker pension and healthcare advantages, which may have become the focus of the squabble between Icahn Enterprises and the casino workers’ union.
Out $100 Million
According to neighborhood 54 leader Bob McDevitt, Icahn has selected 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 stated in a statement. ‘But instead 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 with 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 employees’ demands have made the continued procedure associated with the casino impossible.
‘Currently, the Taj is losing multimillions a month, and now using this attack, we see no way to profitability,’ Rodio said. He added that Icahn Enterprises had lost around $100 million since it overran 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 price of $1 billion. In 1991, it became the very 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 a combined 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 just what he saw as Trump Entertainment’s mismanagement regarding the Taj and its sister 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 weekend closure regarding the Trump Taj Mahal will keep only seven casinos operating in the beachside resort, which has been fighting problems that are financial years.
FBI Busts Major Mafia Crime Syndicate, Included Illegal Gambling Ops
A Mafia that is massive arm 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 employer associated with the Philadelphia Mafia, was one of 46 alleged mobsters arrested down and up 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 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 costs into the past, but served jail time for racketeering.
The set 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 sheer scale and 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.
Most 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 between your four New that is targeted York and also the Philadelphia Mafia.
‘ The Mob remains a scourge with 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 the unlawful 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 outside the range of legality in america.
The arrests follow 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 to the ranks of the organization.
Investigators have actually amassed thousands of hours of testimony collected through wiretaps while 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, based on the indictment. It owned an establishment in ny that held poker tournaments and took bets on horses, and also operated sports wagering businesses based in ny, Florida, nj-new Jersey, and Costa Rica.
All defendants plead not bad, and the majority were 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, but the victory that is greatest will come by way of a safe and secure 16-day event. (Image: Jewel Samad/AFP)
The 2016 Summer Olympics officially kickoff this in Rio de Janeiro, and while the athletes, fans, and media are ready for the competitions, it isn’t quite so clear that the city itself is evening.
Opening 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 postpone its coverage by an full hour to air the event at 8 pm ET instead 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 21 august. But after years of planning and preparation, or lack thereof on the component of Rio, plenty of serious issues linger as the globe’s sporting tournament that is greatest 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 keeping the occasion in more stable regions of this globe.
Africa is now the only continent to never host an Olympics. That likely won’t alter anytime quickly.
While Rio’s mishandling will have long-term effects, the International Olympic Committee (IOC) and countries across the globe are more concerned with the next 16 days in Rio.
- Zika: The most serious problem in Rio is physically the smallest. Mosquitos infected with Zika, a virus that will cause birth that is severe, stays rampant.
- Water: Sewage-infested waters surrounding the city contain high degrees of bacteria. Open-water swimmers have been told not to submerge their heads while competing.
- Crime: Rio is an city that is impoverished some locals have actually nil to lose. And with a local law enforcement agency that pales compared to pelican pete slot app first-world countries, criminal activity is of utmost concern. a 22-year-old moroccan boxer was 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 may also be on standby.
- Housing: Several countries have actually deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a luxurious cruise liner effective at accommodating 296 guests due to their remain in Rio.
Let the Betting Begin
In Nevada and nevada, the sportsbooks get it right more often than they go wrong. 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 series of preferred odds for gamblers.
For the first time since the 2000 Olympics, Nevada sportsbooks are providing odds regarding the games. The Nevada Gaming Commission opted to consist of specific contests that are amateur 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 disciplines that are olympic.
If you have been a devout follower of canoe slalom or handball and think you know more than Vegas, now might function as the time and energy to place a wager.
For the remainder country outside of Nevada boundaries, daily dream activities 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 within the all-important move state of Nevada, where she spent a substantial level of her time decrying Trump’s business record and disposition that is general.
Hillary Clinton spent a good amount 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)
Appearing before a nevada crowd on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked his record that is corporate in Atlantic City and nevada.
‘i went to Atlantic City and I met a true number of smaller businesses, too as workers, plumbing technicians and painters, glass 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 are not going to pay you,» Clinton stated.
Though Trump is mainly taken from the Trump Taj Mahal since 2009, whenever Trump Entertainment Resorts filed for bankruptcy, the property, and along side 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 anti-online gambling measure, an unusual stance in the first state to legalize Internet poker in the us.