
The Trump Taj Mahal is all about to end up being the Atlantic that is fifth City to shut its doorways for good in 3 years. Its closing will signal end to the Trump casino brand name for good.
Union members protest outside the Trump Taj Mahal, which will shut its doors on 4, 2016 september. 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’ve been picketing the Taj for days, investor Carl Icahn has given up on the stricken casino and will shutter it permanently on September 4.
That closure date hits right in the middle of Labor Day, which can be a coincidence that is wild or it could 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 owners that are previous Trump Entertainment, declared bankruptcy. The billionaire corporate raider owned the majority of its $286 million debt, which he was prepared to convert into equity.
Icahn also said he had been willing to invest $100 million in the property, if, and only if, he were granted certain concessions by the city. These included the temporary cessation of worker pension and healthcare benefits, which may have end up being the focus of the squabble between Icahn Enterprises together with casino workers’ union.
Out $100 Million
In accordance with neighborhood 54 leader Bob McDevitt, Icahn has opted for to ‘burn the Trump Taj Mahal down’ in an effort to ‘punish’ strikers.
‘ For a few million dollars, he could have had labor peace and a work that is content,’ McDevitt stated in a statement. ‘But rather he’d rather slam the door shut on these workers that are long-term to punish them and attempt to break their strike. In the long run, he’ll have to live with 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 employees’ demands have made the continued operation associated with the casino impossible.
‘Currently, the Taj is losing multimillions a month, now with this particular strike, we see no road to profitability,’ Rodio stated. He included that Icahn Enterprises had lost around $100 million since it took over the Taj.
Bankrupt Eighth Wonder
The casino was announced to function as the ‘eighth wonder for the world’ by the current Republican nominee that is presidential he opened it in 1990, at a high price of $1 billion. In 1991, it became the first wonder of the world to get under since the Colossus of Rhodes was destroyed by an earthquake in 226 BC.
In 2009, Trump sold his Atlantic City casino interests to group of venture capitalists, who formed Trump Entertainment. While he has had nothing to do using the handling of the Taj since, he had been able to negotiate a deal whereby he retained a ten percent stake in the casino in substitution for the employment of their famous brand name.
But, in 2014, incensed by just what he saw as Trump Entertainment’s mismanagement associated with Taj and its sister Atlantic City property the Plaza, he litigated to have his name eliminated from both casinos. He later relented following their friend that is old Icahn intervention. He additionally relinquished the stake when Trump Entertainment declared for bankruptcy security.
The Labor Day week-end closure regarding the Trump Taj Mahal will keep just seven casinos running in the beachside resort, which includes been fighting financial dilemmas for years.
FBI Busts Significant Mafia Crime Syndicate, Included Prohibited Gambling Ops
A massive Mafia arm that 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 associated with 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 this new York Mob’s top five families, were taken into custody. Key among those arrested was Joseph ‘Skinny Joey’ Merlino, the boss that is alleged of Philadelphia Mob. Merlino has beaten murder fees in the past, but served prison time for racketeering.
The variety 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 scale that is sheer scope of the operations shows that the Mafia is still a force to be reckoned with in present-day America. The vast criminal kingdom infiltrated stretched from Massachusetts to Florida, said US Attorney for the Southern District of New York Preet Bharara.
Every one of the defendants are alleged become element of a group known as the East Coast LCN Enterprise, an ‘organized criminal enterprise,’ according to the indictment, that has been formed following a pact involving the four New that is targeted York therefore the Philadelphia Mafia.
‘ The Mob remains a scourge with this city and around the country,’ said Bharara. ‘From loan-sharking and unlawful gambling, to credit card and health care fraud, and even firearms trafficking, today’s Mafia is fully diversified.
‘As alleged, threatening to assault, maim, and kill people who block the way of their unlawful 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, operating away from range of legality in the US.
Undercover Agents
The arrests follow 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 business.
Investigators have actually amassed thousands of hours of testimony gathered through wiretaps plus the cooperation of a witness. The 32-page indictment, unsealed on Thursday, details incidents of assaults, threats, and arson.
Prohibited gambling had been a source that is big of organization’s income, according to the indictment. It owned an establishment in nyc that held poker tournaments and took wagers on horses, and additionally operated sports businesses that are betting in nyc, Florida, New Jersey, and Costa Rica.
All defendants plead not bad, and the majority had been 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 during the 2016 Summer Olympics, but the greatest victory will come by means 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 even though the athletes, fans, and media are prepared for the competitions, it’sn’t quite so clear that the city itself is.
Starting ceremonies begin at 8 pm time that is local Rio.
The Brazilian city is 1 hour ahead of the United States’ coveted Eastern time zone. NBC will wait its coverage by an full hour to air the event at 8 pm ET rather of 7 pm, much to the dismay of several fans.
More than 11,000 athletes will compete in 39 sport disciplines now through the closing ceremonies on August 21. But after years of planning and planning, or lack thereof on the component of Rio, plenty of serious issues linger as the world’s sporting tournament that is greatest starts.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will likely have lasting impact on the games. Brazil is the first South American country to play host to an Olympics, as well as its severe shortcomings in adequately preparing Rio is anticipated to push Olympic organizers right back to holding the event in more stable regions of the world.
Africa has become the only continent to never host an Olympics. That likely won’t alter anytime quickly.
While Rio’s mishandling will have long-term effects, the International Olympic Committee (IOC) and countries around the globe are more worried about the next 16 days in Rio.
- Zika: The most problem that is serious Rio is physically the tiniest. Mosquitos infected with Zika, a virus that can cause birth that play pelican pete pokie machine is severe, remains rampant.
- Water: Sewage-infested waters surrounding the city contain high degrees of bacteria. Open-water swimmers have been told to not submerge their heads while competing.
- Crime: Rio is definitely an impoverished city where some locals have nil to lose. And by having a law that is local agency that pales in comparison to first-world countries, crime is of utmost concern. A moroccan that is 22-year-old boxer arrested just this early morning after trying to rape two maids.
- Terrorism: The usa has over 1,000 spies in Rio monitoring terror threats and doing every thing they can to keep Team USA safe. Army forces are also on standby.
- Housing: Several countries have deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a cruise that is luxurious effective at accommodating 296 guests for their stay static in Rio.
Let the Betting Begin
In Nevada and nevada, the sportsbooks get it right more often than they go wrong. 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 potentially a few preferred chances for gamblers.
For the time that is first the 2000 Olympics, Nevada sportsbooks are offering odds regarding the games. The Nevada Gaming Commission opted to add certain amateur contests in February of 2015.
While every book in the Silver State knows football, baseball, baseball, and ice hockey, numerous aren’t quite as familiar with gymnastics, curling, speed walking, javelin, and other disciplines that are olympic.
If you have been a follower that is devout of slalom or handball and think you know a lot more than Vegas, now might function as time for you to place a wager.
For the rest of the country outside of Nevada edges, day-to-day fantasy recreations operators are providing a smattering of competitions.
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 swing state of Nevada, where she invested a considerable level of her time decrying Trump’s business record and general disposition.
Hillary Clinton spent a good amount of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, combined with a devastating week for her opponent, is working. (Image: Andrew Harnik/AP)
Showing up before A las vegas audience on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked their record that is corporate in Atlantic City and Las Vegas.
‘I went to Atlantic City and I also met 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, therefore the Trump individuals said, ‘No, we are not going to pay you,” Clinton reported.
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 Democratic candidate at the event. Reid, who 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 gambling that is anti-online, an unusual stance in the 1st state to legalize Web poker in the us.