The Trump Taj Mahal is approximately to become the fifth Atlantic City casino to close its doors for good in 3 years. Its closure will signal end to the Trump casino brand once and for all.
Union members protest outside the Trump Taj Mahal, which will close its doors on September 4, 2016. 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’ve been picketing the Taj for months, 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 exact middle of Labor Day, which might be a wild coincidence, or it could be a deliberate and final insult to the union, which Icahn blames for derailing his last-ditch attempt to save your 1xbet Ð·ÐµÑ€ÐºÐ°Ð»Ð¾ Ð²Ñ…Ð¾Ð´ 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 bulk of its $286 million debt, which he had been ready to convert into equity.
Icahn also said he was ready to invest $100 million within the home, if, and only if, he were granted certain concessions by the city. These included the cessation that is temporary of pension and healthcare benefits, which may have end up being the focus of the squabble between Icahn Enterprises plus the 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 order to ‘punish’ strikers.
‘ For a few million dollars, he could have had labor peace and a content work force,’ McDevitt said in a statement. ‘But alternatively he’d rather slam the door shut on these workers that are long-term to discipline 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 procedure of the casino impossible.
‘Currently, the Taj is losing multimillions a month, and now using this strike, we see no path to profitability,’ Rodio said. He added that Icahn Enterprises had lost around $100 million since it overran the Taj.
Bankrupt Eighth Wonder
The casino was declared to function as ‘eighth wonder for 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 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 their Atlantic City casino interests to team of venture capitalists, who formed Trump Entertainment. He was able to negotiate a deal whereby he retained a ten percent stake in the casino in return for the use of his famous brand name while he has had nothing to do with the management of the Taj since.
Nevertheless, in 2014, incensed by just what he saw as Trump Entertainment’s mismanagement of this Taj and its sis Atlantic City property the Plaza, he litigated to have his name removed from both casinos. He later relented following his old friend Icahn’s intervention. He also relinquished the stake when Trump Entertainment declared for bankruptcy protection.
The Labor Day weekend closure of the Trump Taj Mahal will keep just seven casinos operating within the beachside resort, that has been fighting financial issues for years.
FBI Busts Major Mafia Crime Syndicate, Included Illegal Gambling Ops
A massive Mafia arm that 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 for the Philadelphia Mafia, was one of 46 alleged mobsters arrested up and down the East Coast on Thursday, following A fbi that is major and infiltration and bust. (Image: miamiherald.com)
Alleged users of the Genovese, Gambino, Lucchese, and Bonanno criminal activity families, four of the newest York Mob’s top five families, were taken into custody. Key among those arrested ended up being Joseph ‘Skinny Joey’ Merlino, the boss that is alleged of Philadelphia Mob. Merlino has beaten murder costs into 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 of this Mob
The sheer scale and scope of the operations shows that the Mafia is still a force to be 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.
Every one of the defendants are alleged become section of a group called the East Coast LCN Enterprise, an ‘organized unlawful enterprise,’ according to the indictment, that was formed following a pact involving the four New that is targeted York and also 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 get in the way of these criminal schemes remains the play that is go-to 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 the usa.
The arrests follow a investigation that is joint the FBI and New York’s Organized Crime Task Force (OCTF), which spanned several years and included infiltration by an undercover FBI agent in to the ranks of the corporation.
Investigators have amassed thousands of hours of testimony collected through wiretaps while the cooperation of a witness. The indictment that is 32-page unsealed on Thursday, details incidents of assaults, threats, and arson.
Prohibited gambling had been a source that is big of organization’s revenue, based on the indictment. It owned an establishment in nyc that held poker tournaments and took wagers on horses, and also operated sports businesses that are betting in New York, Florida, New Jersey, and Costa Rica.
All defendants plead not bad, and the majority were released on $300,000 relationship, 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 are in Rio de Janeiro to compete during the 2016 Summer Olympics, nevertheless the victory that is greatest should come by way 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 while the athletes, fans, and media are ready for the competitions, it’sn’t quite therefore clear that the city itself is.
Starting ceremonies begin at 8 pm local time in Rio.
The city that is brazilian one hour ahead of this United States’ coveted Eastern time area. NBC will delay its coverage by an hour to air the event at 8 pm ET rather of 7 pm, much towards the dismay of many fans.
More than 11,000 athletes will compete in 39 sport procedures now through the closing ceremonies on 21 august. But after years of planning and planning, or lack thereof on the component of Rio, plenty of serious concerns linger as the globe’s best sporting tournament begins.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will likely have impact that is lasting the games. Brazil is the first South American country to play host to an Olympics, and its own severe shortcomings in adequately preparing Rio is expected to push Olympic organizers right back to keeping the event in more stable areas regarding the world.
Africa is now the only continent to never host an Olympics. That likely won’t change anytime soon.
While Rio’s mishandling will have long-term effects, the International Olympic Committee (IOC) and countries round the world are more concerned with 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 severe birth defects, remains rampant.
- Water: Sewage-infested waters surrounding the city contain high degrees of germs. Open-water swimmers have been told not to submerge their heads while competing.
- Crime: Rio is definitely an impoverished city where some locals have nothing to lose. And with a local police agency that pales compared to first-world nations, criminal activity is of utmost concern. A moroccan that is 22-year-old boxer arrested just this early morning after wanting to rape two maids.
- Terrorism: The united states of america has over 1,000 spies in Rio monitoring terror threats and everything that is doing 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 with the capacity of accommodating 296 guests because of their stay in Rio.
Let the Betting Begin
In Nevada and Las Vegas, the sportsbooks get it right more often it wrong than they get. Oddsmakers in las vegas are experts at setting lines on sports they know in and out, but this year’s Olympics presents a series of challenges for the bookies, and possibly a few preferred chances for gamblers.
For the first time since the 2000 Olympics, Nevada sportsbooks are offering odds regarding the games. The Nevada Gaming Commission opted to add specific contests that are amateur February of 2015.
While every book in the Silver State knows football, baseball, basketball, and ice hockey, many aren’t quite as familiar with gymnastics, curling, speed walking, javelin, and other Olympic disciplines.
If you’ve been a follower that is devout of slalom or handball and think you realize more than Vegas, now might end up being the time for you to place a wager.
For the remainder country outside of Nevada edges, daily dream recreations operators are providing a smattering of contests.
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 into the all-important move state of Nevada, where she invested an amazing level of her time decrying Trump’s business record and disposition that is general.
Hillary Clinton invested a good amount of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, combined with a week that is devastating her opponent, is working. (Image: Andrew Harnik/AP)
Showing up before A las vegas, nevada audience on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked their business record both in Atlantic City and Las Vegas.
‘I went to Atlantic City and I met a number of smaller businesses, too as workers, plumbing technicians and painters, cup installers, marble installers, at one of is own resorts. They finished the work . . . and they presented their bill, therefore the Trump individuals said, ‘No, we’re maybe not going to pay you,” Clinton claimed.
Though Trump happens to be largely taken from the Trump Taj Mahal since 2009, whenever Trump Entertainment Resorts filed for bankruptcy, the home, and along with it the Trump casino brand, will shut down for good on Labor Day.
Before criticizing Trump, Clinton praised Nevada Senator Harry Reid (D) who introduced the Democratic candidate at the event. Reid, who’s 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 anti-online gambling measure, an uncommon stance in the 1st state to legalize Internet poker in America.