Trump Taj Mahal Closes After 26 Years; Marks 5th Casino Casualty
Donald Trump, who built the Taj Mahal casino once called it "the eighth wonder of the world"
This time, Donald Trump, the Republican candidate in the race for the presidency who also took his Atlantic City into bankruptcy four times uttered no words about Monday's shutdown of the said gambling hall.
Nearly 3,000 workers lost their jobs, bringing the total jobs lost by Atlantic Casino closing to 11,000 since 2014.
The Taj Mahal became the fifth Atlantic Casino to go out of business since 2014, wherein four others including the Trump plaza shut their doors down.
Just before 6:00AM of Monday, the Taj Mahal shuttered its door amid a strike by union members that lasted more that 100 days.
Trump had said that both sides should have been able to work out a deal to keep the casino open.
Icahn decided on August 3 to just close the casino saying "it lacked a path profitability"
McDevitt said "there is a strong possibility" that Icahn will keep the casino closed over the winter while conducting renovations and capital improvements, the attempt to re-open it in the spring.
Icahn determined the $350 million he had lost in the Taj Mahal was not enough. It was then that he decided to close, fearing he would lose an additional $100 million by next year.
This was truly a sad day for Atlantic City. "Like many of the of the employees of Taj Mahal, I wish things had turned out differently" Icahn said.
Financial risks taking won Trump the Taj Mahal. His drive and hyperbole got it open an made it a winner. None of that thought was enough on taking it forward.
The union reached contracts on June 30 with four of the five casinos it had targeted for a possible strike-including the Tropicana which Icahn also owned.
The Taj Mahal has now joined the Atlantic Club, Showboat, Trump Plaza, and Revel in the growing club of Atlantic City casinos since 2014.