The Trump Taj Mahal is mostly about to become the Atlantic that is fifth City to close its doors once and for all in 3 years. Its closing will signal a final end to your Trump casino brand forever.
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 middle of industrial action by members of the Unite Here Local 54 Union, who have been picketing the Taj for months, 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 coincidence that is wild or it could be a deliberate and final insult to the union, which Icahn blames for derailing his last-ditch try to save the Taj.
Icahn stepped in to rescue the casino in 2014, when its owners that are previous Trump Entertainment, declared bankruptcy. The billionaire raider that is corporate the bulk of its $286 million financial obligation, which he was ready to convert into equity.
Icahn also said he was prepared to invest $100 million within the property, if, and only if, he had been granted concessions that are certain the town. These included the cessation that is temporary of pension and healthcare advantages, which may have get to be the focus of the squabble between Icahn Enterprises and the casino employees’ union.
Out $100 Million
In accordance with neighborhood 54 leader Bob McDevitt, Icahn has selected to ‘burn the Trump Taj Mahal down’ in an effort to ‘punish’ strikers.
‘ For the few million dollars, he may have had labor peace and a content work force,’ McDevitt said in a statement. ‘But alternatively he’d rather slam the doorway 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 in what he is done to working people in Atlantic City.’
But according to Tony Rodio, chief executive of Icahn Enterprises’ casino subsidiary Tropicana Entertainment, the employees’ demands have made the continued operation regarding the casino impossible.
‘Currently, the Taj is losing multimillions a month, and today with this attack, we see no road to profitability,’ Rodio stated. He added that Icahn Enterprises had lost around $100 million since it overran the Taj.
Bankrupt Eighth Wonder
The casino was declared to be the ‘eighth wonder of the world’ by the current Republican presidential nominee when he opened it in 1990, at a high price of $1 billion. In 1991, it became the wonder that is first of world to go under since the Colossus of Rhodes had been 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. While he has had nothing to do with 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 return for making use of their famous manufacturer.
Nevertheless, in 2014, incensed by what he saw as Trump Entertainment’s mismanagement of the Taj and its sis Atlantic City property the Plaza, he litigated to have his name removed from both casinos. He later relented following their old buddy Icahn’s intervention. He additionally relinquished the stake when Trump Entertainment declared for bankruptcy protection.
The Labor Day week-end closure of this Trump Taj Mahal will leave just seven gambling enterprises operating in the beachside resort, which has been fighting problems that are financial years.
FBI Busts Significant Mafia Crime Syndicate, Included Illegal Gambling Ops
A Mafia that is massive arm 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 boss of 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 the brand new York Mob’s top five families, were taken into custody. Key among those arrested had been Joseph ‘Skinny Joey’ Merlino, the boss that is alleged of Philadelphia Mob. Merlino has beaten murder fees within the past, but served prison time for racketeering.
The range 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 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 brand New York Preet Bharara.
Most 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 your four New that is targeted York and the Philadelphia Mafia.
‘ The Mob remains a scourge with this city and around the country,’ said Bharara. ‘From loan-sharking and gambling that is illegal 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 off the road of the unlawful schemes continues to be the go-to play in the Mob’s playbook.’
Bharara was notably the prosecutor that is lead the Black Friday busts of major poker sites PokerStars and Full Tilt in 2011. The sites were, at that time, running outside of the range of legality in america.
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 in to the ranks of the corporation.
Investigators have amassed a large number of hours of testimony collected through wiretaps while the cooperation of a witness. The 32-page indictment, unsealed on Thursday, details incidents of assaults, threats, and arson.
Illegal gambling had been a big supply of the organization’s income, according to the indictment. It owned an establishment in nyc that held poker tournaments and took bets on horses, and also operated sports betting companies based in New York, Florida, nj-new Jersey, and Costa Rica.
All defendants plead not bad, and the majority had been released on $300,000 bond, while some were retained, without any bail having been set.
Summer Olympics Underway in Rio as City’s Preparation Takes Center Stage
Over 11,000 athletes are in Rio de Janeiro to compete during the myfreepokies.com 2016 Summer Olympics, nevertheless the victory that is greatest comes 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 news are ready for the competitions, it isn’t quite therefore clear that the city itself is.
Opening ceremonies begin at 8 pm local time in Rio.
The city that is brazilian 1 hour ahead regarding the United States’ coveted Eastern time zone. NBC will postpone its coverage by an hour to air the event at 8 pm ET rather of 7 pm, much to your dismay of numerous 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 preparation, or lack thereof on the part of Rio, plenty of serious concerns linger as the world’s best sporting tournament starts.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will likely have a lasting impact on the games. Brazil is the first South country that is american play host to an Olympics, as well as its severe shortcomings in adequately preparing Rio is expected to push Olympic organizers right back to keeping the event in more stable areas associated with world.
Africa is now the continent that is only never host an Olympics. That most likely won’t alter anytime soon.
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 problem that is serious Rio is actually the tiniest. Mosquitos infected with Zika, a virus that can cause severe birth defects, continues to be rampant.
- Water: Sewage-infested waters surrounding the city contain high quantities of germs. Open-water swimmers have been told not to ever submerge their heads while competing.
- Crime: Rio is definitely an impoverished city where some locals have nil to lose. And 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 morning after trying to rape two maids.
- Terrorism: The united states of america has over 1,000 spies in Rio monitoring terror threats and doing every thing they can to keep Team USA safe. Army forces are on standby.
- Housing: Several countries have deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a luxurious cruise liner with the capacity of accommodating 296 guests with regards to their stay in Rio.
Let the Betting Begin
In Nevada and Las vegas, 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 potentially a number of preferred odds for gamblers.
For the first time since the 2000 Olympics, Nevada sportsbooks are offering odds regarding the games. The Nevada Gaming Commission opted to consist of specific 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 disciplines that are olympic.
If you’ve been a devout follower of canoe slalom or handball and think you realize more than Vegas, now might be the time and energy to place a wager.
For the remainder country outside of Nevada borders, day-to-day fantasy recreations operators offer a smattering of competitions.
Hillary Clinton Campaigns Through Nevada, Condemning Donald Trump
Hillary Clinton doesn’t believe her GOP opponent Donald Trump is competent sufficient to assume the Oval Office. The Democratic presidential nominee made two stops this week within the all-important move state of Nevada, where she spent a substantial number of her time decrying Trump’s company record and disposition that is general.
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 his record that is corporate in Atlantic City and Las vegas, nevada.
‘we went to Atlantic City and I also met a number of smaller businesses, also as workers, plumbing technicians and painters, cup installers, marble installers, at one of his true resorts. They finished the work . . . and they submitted their bill, therefore the Trump people said, ‘No, we are not going to pay you,” Clinton stated.
Though Trump is mainly removed from the Trump Taj Mahal since 2009, when Trump Entertainment Resorts filed for bankruptcy, the property, and along with it the Trump casino brand, will turn off 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, who is offered in Congress representing Nevada since 1983, is pro-gambling, but has also expressed help for the Restoration of America’s Wire Act (RAWA), the gambling that is anti-online, an unusual stance in the 1st state to legalize Internet poker in America.