The Trump Taj Mahal is about to become the fifth Atlantic City casino to close its doors for good in 3 years. Its closure will signal a final end towards the Trump casino brand forever.
Union members protest outside the Trump Taj Mahal, which will shut its doorways on 4, 2016 september. Icahn Enterprises says it has lost $100 million on the venture.
In the middle of commercial 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 casino that is stricken will shutter it permanently on September 4.
That closure date strikes 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 conserve the Taj.
Icahn stepped in to rescue the casino in 2014, when its previous owners, Trump Entertainment, declared bankruptcy. The billionaire raider that is corporate the majority of its $286 million financial obligation, which he had been ready to convert into equity.
Icahn also said he had been willing to invest $100 million in the home, if, and just if, he were granted certain concessions by the town. These included the temporary cessation of worker pension and healthcare benefits, which may have become the focus of the squabble between Icahn Enterprises and also the casino workers’ union.
Out $100 Million
Based on Local 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 content employees,’ McDevitt said in a statement. ‘But alternatively he’d rather slam the entranceway shut on these long-lasting workers just to punish them and attempt to break their strike. In the end, he’ll have to live with 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 employees’ demands have made the continued operation of this casino impossible.
‘Currently, the Taj is multimillions that are losing month, and today with this specific hit, we see no road to profitability,’ Rodio said. He added that Icahn Enterprises had lost around $100 million since it annexed the Taj.
Bankrupt Eighth Wonder
The casino was declared to end up being the ‘eighth wonder of this 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 globe to go under since the Colossus of Rhodes had been destroyed by an earthquake in 226 BC.
In 2009, Trump offered his Atlantic City casino interests to team 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.
But, in 2014, incensed by just what he saw as Trump Entertainment’s mismanagement associated with Taj and its sibling Atlantic City property the Plaza, he litigated to have his name eliminated from both casinos. He later relented following their old buddy 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 only seven gambling enterprises running into the beachside resort, which includes been fighting financial issues for years.
FBI Busts Significant Mafia Crime Syndicate, Included Illegal Gambling Ops
A Mafia that is massive arm engaged in illegal gambling, extortion, gun-running, and fraud, 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 regarding the Philadelphia Mafia, was one of 46 alleged mobsters arrested down and up the East Coast on Thursday, after 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 newest York Mob’s top five families, were taken into custody. Key among those arrested had been Joseph ‘Skinny Joey’ Merlino, the so-called boss of the Philadelphia Mob. Merlino has beaten murder fees within the past, but served prison time for racketeering.
The range 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 scale that is sheer scope of the operations shows that the Mafia is still a force become reckoned with in present-day America. The vast criminal kingdom infiltrated stretched from Massachusetts to Florida, said US Attorney for the Southern District of brand New York Preet Bharara.
Most of the defendants are alleged become part of a group called the East Coast LCN Enterprise, an ‘organized unlawful enterprise,’ according to the indictment, which was formed following a pact between your four targeted New York families while the Philadelphia Mafia.
‘ The Mob remains a scourge on this city and around the country,’ said Bharara. ‘From loan-sharking and unlawful gambling, 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 get in the way of the criminal schemes remains the play that is go-to 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, running outside of the range of legality in the US.
The arrests follow a joint research between the FBI and New York’s Organized Crime Task Force (OCTF), which spanned several years and involved infiltration by an undercover FBI agent into the ranks of the organization.
Investigators have actually amassed 1000s of hours of testimony gathered 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 was a big supply of the organization’s revenue, based on the indictment. It owned an establishment in New York that held poker tournaments and took bets on horses, and also operated sports businesses that are betting in New York, Florida, New Jersey, and Costa Rica.
All defendants plead not bad, and the majority were released on $300,000 relationship, 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 have been in Rio de Janeiro to compete during the 2016 Summer Olympics, but the victory that is greatest comes by means 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 one hour ahead associated with United States’ coveted Eastern time zone. NBC will postpone its coverage by the full hour to air the event at 8 pm ET rather 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 component of Rio, plenty of serious concerns linger as the world’s greatest sporting tournament starts.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will probably have a impact that is lasting the games. Brazil is the first South country that is american play host to an Olympics, as well as its severe shortcomings in adequately preparing Rio is expected to push Olympic organizers back to holding the occasion in more stable regions associated with globe.
Africa is currently the continent that is only never host an Olympics. That most likely will not alter anytime soon.
While Rio’s mishandling will have long-term effects, the International Olympic Committee (IOC) and countries round the world are more worried about the next 16 days in Rio.
- Zika: The most problem that is serious Rio is physically the smallest. Mosquitos infected with Zika, a virus that may cause birth that is severe, continues to be 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 can be an impoverished city where some locals have nothing to readily lose. 1xbet Ð·ÐµÑ€ÐºÐ°Ð»Ð¾\ And with a local police force agency that pales compared to first-world nations, crime is of utmost concern. A moroccan that is 22-year-old boxer arrested just this morning after trying to rape two maids.
- Terrorism: The united states of america has over 1,000 spies in Rio monitoring terror threats and doing everything they can to keep Team USA safe. Army forces may also be on standby.
- Housing: Several countries have deemed the athletes’ town uninhabitable. Team USA basketball countered by renting a luxurious cruise liner effective at accommodating 296 guests due to their stay in Rio.
Let the Betting Begin
In Nevada and Las Vegas, the sportsbooks get it right more often it wrong than they get. 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 possibly a number of preferred chances for gamblers.
For the very first time since the 2000 Olympics, Nevada sportsbooks are offering odds regarding the games. The Nevada Gaming Commission opted to include specific 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 Olympic disciplines.
If you’ve been a devout follower of canoe slalom or handball and think you know a lot more than Vegas, now might function as the time for you to place a wager.
For the remainder country outside of Nevada boundaries, day-to-day fantasy sports operators are selling a smattering of competitions.
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 move state of Nevada, where she invested a substantial level of her time decrying Trump’s company record and general disposition.
Hillary Clinton spent a great amount of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, combined with a week that is devastating her opponent, is working. (Image: Andrew Harnik/AP)
Showing up before a vegas audience on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked his business record in both Atlantic City and Las Vegas.
‘i went to Atlantic City and I met a true number of small businesses, too as workers, plumbing technicians and painters, glass installers, marble installers, at one of his true resorts. They finished the work . . . and they presented their bill, plus the Trump individuals said, ‘No, we’re perhaps not going to pay you,” Clinton advertised.
The property, and along with it the Trump casino brand, will shut down for good on Labor Day though Trump has been largely removed from the Trump Taj Mahal since 2009, when Trump Entertainment Resorts filed for bankruptcy.
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 help 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.