Trump Taj Mahal files paperwork
According to multiple media reports, the troubled casino and billionaire owner Carl Icahn filed paperwork with the New Jersey Department of Gaming Enforcement to formally close its doors effective Oct. 10.
The Taj has been dealing with a strike for more than two months, and indicated earlier in the summer its intent to close.
From the Press of AC:
“As a result of the ongoing Local 54 strike and the millions of dollars that it has cost the Taj Mahal, TER (Trump Entertainment Resorts) no longer sees a path to profitability for the Taj Mahal,” according to the plan, filed Sept. 2 but released by the agency Friday. “As a result, on August 4, 2016, the Board of Directors of TER voted to cease casino and other operations at Taj Mahal effective October 10, 2016.”
The Trump Taj Mahal website prominently warns customers that it will be closing, with a bright red notice on its home page.
Does this mean the Taj is serious?
The new paperwork filed with the NJDGE is the latest indication that the casino intends to follow through with the threat to close, and isn’t just using it as leverage with the striking union.
However, that still does not mean the casino has to close; it can pull that paperwork at any time and remain open.
Still, this move indicates that the Taj appears set to close without movement from the labor union. From the Associated Press:
But because [Icahn] announced on Aug. 4 his plan to close the casino and went nearly a month without formally asking regulators for permission to do it, some strikers began questioning whether Icahn truly planned to close it or whether the shutdown threat was a bluff to get the striking union to accept the casino’s final offer.
What does it mean for AC?
If the Taj closes, it will be the fifth AC casino to shutter since the start 2014. There are worries that if a November referendum passes authorizing casinos in North Jersey, even more AC casinos could have to close their doors.
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