The Trump Taj Mahal is about to become the fifth Atlantic City casino to shut its doorways for good in 3 years. Its closing will signal end to the Trump casino brand once and for all.
Union members protest outside the Trump Taj Mahal, which will close its doorways on September 4, 2016. Icahn Enterprises says it has lost $100 million on the endeavor.
In the middle of industrial action by members of the Unite Here Local 54 Union, who’ve been picketing the Taj for weeks, investor Carl Icahn has given up on the casino that is stricken will shutter it permanently on September 4.
That closure date hits right in the middle of Labor Day, that will be a wild coincidence, or it might 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 previous owners, Trump Entertainment, declared bankruptcy. The billionaire corporate raider owned the bulk of its $286 million financial obligation, which he was ready to convert into equity.
Icahn additionally said he was willing to invest $100 million within the home, if, and just if, he were granted certain concessions by the town. These included the cessation that is temporary of pension and healthcare benefits, that have get to be the focus of the squabble between Icahn Enterprises and the casino workers‘ union.
Out $100 Million
According to regional 54 leader Bob McDevitt, Icahn has selected to ‚burn the Trump Taj Mahal down‘ in order to ‚punish‘ strikers.
‚ For a few million bucks, he may have had labor peace and a content work force,‘ McDevitt said in a statement. ‚But rather he’d rather slam the entranceway shut on these long-term workers just to discipline them and attempt to break their strike. In the end, 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 associated with casino impossible.
‚Currently, the Taj is multimillions that are losing month, now with this particular strike, we see no path to profitability,‘ Rodio said. He included that Icahn Enterprises had lost around $100 million since it overran the Taj.
Bankrupt Eighth Wonder
The casino was announced to function as the ‚eighth wonder regarding the world‘ by the current Republican nominee that is presidential he opened it in 1990, at a cost 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 his Atlantic City casino interests to group 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 associated with 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 friend that is old Icahn intervention. He also relinquished the stake when Trump Entertainment declared for bankruptcy security.
The Labor Day week-end closure of the Trump Taj Mahal will keep only seven gambling enterprises running within the beachside resort, which has been fighting financial problems for years.
FBI Busts Major 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 regarding the Philadelphia Mafia, was one of 46 alleged mobsters arrested down and up the East Coast on Thursday, following A fbi that is major and infiltration and bust. (Image: miamiherald.com)
Alleged members of the myfreepokies.com Genovese, Gambino, Lucchese, and Bonanno crime families, four of this new York Mob’s top five families, were taken into custody. Key among those arrested had been Joseph ‚Skinny Joey‘ Merlino, the so-called boss of the Philadelphia Mob. Merlino has beaten murder costs in the past, but served jail time for racketeering.
The set 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 for the Mob
The sheer scale and 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 New York Preet Bharara.
Most of the defendants are alleged become section of a group known as the East Coast LCN Enterprise, an ‚organized unlawful enterprise,‘ according to the indictment, that was formed following a pact involving the four targeted brand new York families therefore the Philadelphia Mafia.
‚ The Mob remains a scourge with this city and around the country,‘ said Bharara. ‚From loan-sharking and illegal gambling, to credit card and health care fraud, and also firearms trafficking, today’s Mafia is fully diversified.
‚As alleged, threatening to assault, maim, and kill people who get in the way of the criminal schemes remains 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 beyond your scope of legality in the US.
The arrests follow a investigation that is joint 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 corporation.
Investigators have actually amassed a large number of hours of testimony gathered through wiretaps as well as the cooperation of a witness. The indictment that is 32-page unsealed on Thursday, details incidents of assaults, threats, and arson.
Prohibited gambling was a source that is big of organization’s revenue, according to the indictment. It owned an establishment in nyc that held poker tournaments and took bets on horses, and also operated sports businesses that are betting in ny, Florida, nj-new Jersey, and Costa Rica.
All defendants plead not responsible, and the majority were 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 at the 2016 Summer Olympics, but the greatest victory can come by way of a safe and secure 16-day event. (Image: Jewel Samad/AFP)
The 2016 Summer Olympics officially kickoff this in Rio de Janeiro, and while the athletes, fans, and media are ready for the competitions, it isn’t quite so clear that the city itself is evening.
Starting ceremonies begin at 8 pm local time in Rio.
The city that is brazilian 60 minutes ahead for the United States‘ coveted Eastern time zone. NBC will postpone its protection by the full hour to air the event at 8 pm ET instead of 7 pm, much to the dismay of several fans.
More than 11,000 athletes will compete in 39 sport procedures now through the closing ceremonies on August 21. But after years of planning and planning, or lack thereof on the part of Rio, plenty of serious concerns linger as the globe’s greatest sporting tournament begins.
Uh-Oh de Janeiro
The controversy surrounding the 2016 Summer Olympics will likely have a impact that is lasting 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 back to keeping the event in more stable regions of the globe.
Africa has become the continent that is only never host an Olympics. That likely won’t change anytime quickly.
While Rio’s mishandling will have long-term consequences, the International Olympic Committee (IOC) and nations around the world are more concerned with the next 16 days in Rio.
- Zika: The most problem that is serious Rio is actually the smallest. 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 degrees of germs. Open-water swimmers have been told never to submerge their heads while competing.
- Crime: Rio is an impoverished city where some locals have nothing to readily lose. And by having a law that is local agency that pales compared to first-world nations, crime is of utmost concern. a 22-year-old moroccan boxer had been arrested just this morning after attempting 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. Military forces are also on standby.
- Housing: Several countries have deemed the athletes‘ village uninhabitable. Team USA basketball countered by renting a luxurious cruise ship effective at accommodating 296 guests because of their stay static in Rio.
Let the Betting Begin
In Nevada and Las Vegas, the sportsbooks get it right more often than they fail. Oddsmakers in las vegas 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 possibly a few preferred chances for gamblers.
For the time that is first the 2000 Olympics, Nevada sportsbooks are providing odds regarding the games. The Nevada Gaming Commission opted to add certain contests that are amateur 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 Olympic disciplines.
If you have been a follower that is devout of slalom or handball and think you know a lot more than Vegas, now might end up being the time to place a wager.
For the rest of the country outside of Nevada edges, day-to-day fantasy sports 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 spent an amazing amount of her time decrying Trump’s business record and general disposition.
Hillary Clinton spent lots of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, along with a devastating week for her opponent, is working. (Image: Andrew Harnik/AP)
Appearing before a nevada crowd 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 met a true number of small enterprises, too as workers, plumbing technicians and painters, glass installers, marble installers, at one of his resorts. They finished the work . . . and they submitted their bill, plus the Trump individuals said, ‚No, we’re maybe not going to pay you,“ Clinton reported.
Though Trump has been mainly taken from the Trump Taj Mahal since 2009, whenever 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 Democratic candidate at 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 anti-online gambling measure, an uncommon stance in the 1st state to legalize online poker in America.