The Trump Taj Mahal is approximately to end up being the 5th Atlantic City casino to close its doorways once and for all in 3 years. Its closure will signal end to your Trump casino brand forever.
Union members protest outside the Trump Taj Mahal, which will shut its doorways on September 4, 2016. Icahn Enterprises says it has lost $100 million on the venture.
In the midst of industrial action by members of the Unite Here Local 54 Union, who have been picketing the Taj for days, investor Carl Icahn has abadndoned the casino that is stricken will shutter it permanently on September 4.
That closure date strikes right in the exact middle of Labor Day, which can 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 raider that is corporate the bulk of its $286 million financial obligation, which he had been ready to convert into equity.
Icahn additionally said he was willing to invest $100 million into the property, if, and just if, he were granted certain concessions by the town. These included the cessation that is temporary of pension and healthcare benefits, which have become the focus of the squabble between Icahn Enterprises and the casino workers’ union.
Out $100 Million
In accordance with regional 54 leader Bob McDevitt, Icahn has opted for to ‘burn the Trump Taj Mahal down’ in order to ‘punish’ strikers.
‘ For a few million dollars, he may have had labor peace and a work that is content,’ McDevitt stated in a statement. ‘But alternatively he’d rather slam the entranceway shut on these workers that are long-term to discipline 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, leader of Icahn Enterprises’ casino subsidiary Tropicana Entertainment, the workers’ demands have made the continued procedure of the casino impossible.
‘Currently, the Taj is multimillions that are losing month, and now with this specific strike, we see no way 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 announced 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 wonder that is first of globe 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.
Nevertheless, in 2014, incensed by just what he saw as Trump Entertainment’s mismanagement of this Taj and its cousin Atlantic City property the Plaza, he litigated to have his name removed from both casinos. He later relented following his old buddy Icahn’s intervention. He additionally relinquished the stake when Trump Entertainment declared for bankruptcy security.
The Labor Day week-end closure associated with Trump Taj Mahal will leave just seven casinos operating within the beachside resort, which has been fighting problems that are financial years.
FBI Busts Major Mafia Crime Syndicate, Included Illegal 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 employer of the Philadelphia Mafia, was one of 46 alleged mobsters arrested up and down the East Coast on Thursday, after a major fbi and nyoctf infiltration and bust. (Image: miamiherald.com)
Alleged members of the Genovese, Gambino, Lucchese, and Bonanno crime families, four of the newest York Mob’s top five families, were taken into custody. Key among those arrested was Joseph ‘Skinny Joey’ Merlino, the so-called boss of the Philadelphia Mob. Merlino has beaten murder charges in the past, but served jail time for racketeering.
The directory 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 associated with 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.
Every one of the defendants are alleged to be section of a group called the East Coast LCN Enterprise, an ‘organized unlawful enterprise,’ according to the indictment, that has been formed following a pact between the four targeted New York families and the Philadelphia Mafia.
‘ The Mob remains a scourge with this city and around the country,’ said Bharara. ‘From loan-sharking and illegal 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 block the way of their criminal schemes continues to be the go-to play in the Mob’s playbook.’
Bharara was notably the lead prosecutor in the Black Friday busts of major poker sites PokerStars and Full Tilt in 2011. The sites were, at that right time, running outside the scope of legality in america.
Undercover Agents
The arrests have a joint investigation between 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 a large number of hours of testimony gathered through wiretaps therefore the cooperation of a witness. The 32-page indictment, unsealed on Thursday, details incidents of assaults, threats, and arson.
Prohibited gambling was a big source of the organization’s revenue, according to the indictment. It owned an establishment in ny that held poker tournaments and took wagers on horses, and additionally operated sports businesses that are betting in New York, Florida, nj-new Jersey, and Costa Rica.
All defendants plead not guilty, 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, however the greatest victory will come 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 while the athletes, fans, and media are prepared for the competitions, it’sn’t quite so clear that the city itself is.
Opening ceremonies begin at 8 pm local time in Rio.
The pelican pete pokies Brazilian city is 60 minutes ahead of the United States’ coveted Eastern time zone. NBC will delay its protection by the hour to air the event at 8 pm ET alternatively of 7 pm, much to the dismay of numerous fans.
More than 11,000 athletes will compete in 39 sport procedures now through the closing ceremonies on August 21. But after years of planning and planning, or lack thereof on the part of Rio, plenty of serious concerns linger as the globe’s greatest sporting tournament begins.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will probably have lasting impact on the games. Brazil is the first South American country to play host to an Olympics, and its own severe shortcomings in adequately preparing Rio is expected to push Olympic organizers right back to holding the event in more stable regions associated with globe.
Africa is currently the continent that is only never host an Olympics. That likely won’t change anytime quickly.
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 severe problem in Rio is actually the tiniest. 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 quantities of bacteria. Open-water swimmers have been told not to submerge their heads while competing.
- Crime: Rio is definitely an impoverished city where some locals have nothing to readily lose. And having a local law enforcement agency that pales in comparison to first-world countries, criminal activity is of utmost concern. A moroccan that is 22-year-old boxer arrested just this morning after wanting to rape two maids.
- Terrorism: The usa has over 1,000 spies in Rio monitoring terror threats and doing everything they can to keep Team USA safe. Army forces will also be on standby.
- Housing: Several countries have actually deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a luxurious cruise ship capable of accommodating 296 guests because of their remain in Rio.
Let the Betting Begin
In Nevada and nevada, the sportsbooks get it right more often than they fail. Oddsmakers in Sin City are experts at setting lines on sports they know inside 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 time that is first the 2000 Olympics, Nevada sportsbooks are providing odds in 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, baseball, and ice hockey, many aren’t quite as familiar with gymnastics, curling, speed walking, javelin, and other Olympic disciplines.
If you have been a devout follower of canoe slalom or handball and think you understand significantly more than Vegas, now might function as the time and energy to place a wager.
For the remainder country outside of Nevada edges, daily dream activities operators are offering 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 into the all-important move state of Nevada, where she invested a substantial amount of her time decrying Trump’s business record and disposition that is general.
Hillary Clinton spent a lot 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 las vegas crowd on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked his record that is corporate in Atlantic City and Las Vegas.
‘we went to Atlantic City and I came across a number of small enterprises, aswell as workers, plumbing technicians and painters, glass installers, marble installers, at one of his resorts. They finished the ongoin work . . . and they presented their bill, plus the Trump individuals said, ‘No, we’re perhaps not going to pay you,” Clinton reported.
Though Trump was mostly taken off the Trump Taj Mahal since 2009, when Trump Entertainment Resorts filed for bankruptcy, the home, and along side it the Trump casino brand, will power 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, that is offered 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 online poker in the usa.