Over 25 years ago, the Trump Taj Mahal Casino opened its doors for the first time. This casino was opened in Atlantic City in the United States of America and has been hailed as the world’s largest casino. Offering visitors 120,000 square-feet of space to gamble and enjoy themselves, some people have called it the eighth wonder of the world. Unfortunately, all good things must come to an end, and the end has arrived for the Trump Taj Mahal, which has requested to close on the 10th of October 2016.
Trump Taj Mahal submits request too close
According to the state laws, a casino is required to inform the Division of Gambling Enforcement on the exact date it plans to close, as well as how the process will be carried out. The Trump Taj Mahal submitted this information on the 2nd of September, 2016 but the official public announcement was only made on the 9th of September.
Reason for Trump Taj Mahal Closure
The first time the world knew that the casino would be closed was back in August 2016. The closure of the Trump Taj Mahal was announced by the billionaire owner, Carl Icahn. One of the major reasons behind the decision to close the casino is said to have been a worker’s strike, which has been underway for over a month. The Trump Taj Mahal has claimed that the worker’s strike resulted in a massive loss of business, causing the casino to lose millions of dollars. This kind of loss was not sustainable for the casino, which will now be forced to close.
The reason behind the strike was the termination of health insurance and worker’s pensions, which were stopped back in 2014 after an order by a bankruptcy judge. There were apparently several new deals offered by the casino, but all of these offers were rejected by the striking workers.
The casino was started back in 1990 by Donald Trump, however, largely walked away from the casino in 20009. Back in 2015, the casino was taken over by Icahn after it barely managed to escape bankruptcy
While the notice too close has been submitted, it is worth noting that the casino operators can decide to withdraw this notice at any time. Should they find the funds or come to an agreement with the striking workers, Mr. Icahn can decide to keep the Trump Taj Mahal open and rescind the closure notice at any time.
