Closure of the casino, which is in the midst of a strike by its unionized workers over wages and health insurance costs, would be another blow to the struggling New Jersey beach resort.
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The hotel was opened in 1990 by Trump, although it now belongs to his friend, Carl Icahn; the hotel still prominently bears the Republican nominee’s name. Billionaire casino mogul Carl Icahn has chosen to remain relatively silent over the casino he bailed out in 2014 in order to keep day-to-day operations going.
Parent company Icahn Enterprises released a statement saying they have “lost nearly $100 million trying to save the Taj” and are losing “multi-millions” more a month. “How much money do you throw after bad?”
On Thursday, the strike will become the longest in the city’s 38-year casino era.
The closing will leave Atlantic City with seven casinos, after four closed in 2014. Union trouble in particular has plagued the casino, which was one of the most recognizable in Atlantic City and for years its highest grossing.
His view was shared by Tony Rodio, president of Tropicana Entertainment, operator of the Taj Mahal.
Union members protest outside the Trump Taj Mahal, which will close its doors on September 4, 2016. He added that Icahn Enterprises had lost around $100 million since it took over the Taj.
Shortly after news about the closure spread, Bob McDevitt, President of UNITE HERE Local 54, the labor union supporting the strike, issued a statement on the matter, saying that for “a few million bucks” Mr. Icahn would have appeased workers but he has chose to slam the door to people who have worked at the property for more than two decades just to punish them and to break their strike.
The potential turnaround for the casino was further thwarted when the almost 1,000 union workers went on strike on July 1 demanding certain benefits to be restored and better conditions.
Bob McDevitt, president of the local chapter of the UniteHere union, on Wednesday denounced the closure and accused Icahn of being petty, saying he had taken away workers’ healthcare, retirement and dignity.
“This titan of Wall Street is utterly incapable of making a decision unless it is mean-spirited and benefiting him alone”, McDevitt said.
The Taj Mahal’s run as the greatest didn’t last long.
At the end of 2015, the Trump Taj Mahal employed over 2,100 people, according to New Jersey Division of Gaming Enforcement figures obtained by the Press.
Icahn replied, “What is my obligation?” I give hundreds of millions to charity, but this is a business; it’s not a charity.
An exact shutdown date for the Taj Mahal has not yet been set.
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The company intends to send state-required mass layoff notices before the weekend, Rodio said in a statement.
