Trump Taj Mahal is the latest casualty in Atlantic City.
Multiple media sources have reported that the resort casino will close its doors next month, after Labor Day weekend. A strike that has lasted more than a month apparently helped lead to the decision.
The Taj Mahal and why it’s closing
Tony Rodio, CEO of Tropicana Entertainment, offered this statement to the Press of Atlantic City.
“Currently the Taj is losing multi-millions a month, and now with this strike we see no path to profitability. Unfortunately, we’ve reached the point where we have will to have to close the Taj after Labor Day weekend and intend to send WARN notices to before this weekend.”
The move comes after billionaire Carl Icahn saved the resort from bankruptcy earlier this year.
Strikes had been avoided at four other properties served by workers from the Local 54: Bally’s, Caesers, Harrah’s, and Tropicana.
The Unite Here Local 54, which is behind the strike at the Trump Taj Mahal, responded quickly to news of the closure.
Union President Bob McDevitt blasted the move by the resort and Icahn:
I would never have thought Carl Icahn was so one-dimensional. The great deal-maker would rather burn the Trump Taj Mahal down just so he can control the ashes. For a few million bucks he could have had labor peace and a content workforce, but instead he’d rather slam the door shut on these long-term workers just to punish them and attempt to break their strike.
There was no element of trying to reach an agreement here on Icahn’s part; it was always “my way or the highway” from the beginning with Icahn. It is the epitome of the playground bully, who picks up his ball and announces he is going home because nobody else would do it his way. It is truly a shame that such an unscrupulous person has control of billions of dollars.
You can read the full statement here.
The strike and closure affects more than 1,000 workers at the Trump Taj Mahal.
Icahn had at one point said he would put $100 million into renovations at the property, a decision he would later back off of.
The latest casino to close
The casino industry in AC seemed to have reached an equilibrium point before recent months.
Over the course of 2014, four of Atlantic City’s 12 casinos were shuttered:
- The Atlantic Club
- Revel Casino
- Trump Plaza