
The Trump Taj Mahal is mostly about to end up being the Atlantic that is fifth City to close its doors for good in 3 years. Its closure will signal a final end towards the Trump casino brand for good.
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 endeavor.
In the midst of commercial action by members of the Unite Here Local 54 Union, who have been picketing the Taj for days, investor Carl Icahn has abadndoned the casino that is stricken will shutter it permanently on September 4.
That closure date strikes right in the middle of Labor Day, which might be a wild coincidence, or it might be a deliberate and final insult to the union, which Icahn blames for derailing his last-ditch try to conserve 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 majority of its $286 million financial obligation, which he ended up being ready to convert into equity.
Icahn additionally said he was prepared to invest $100 million into the property, if, and only if, he were granted concessions that are certain the city. These included the temporary cessation of worker pension and healthcare benefits, which may have end up being the focus of the squabble between Icahn Enterprises as well as the myfreepokies.com casino workers’ union.
Out $100 Million
Based on regional 54 leader Bob McDevitt, Icahn has chosen 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 work that is content,’ McDevitt stated 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 end, he’ll have to live using 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 workers’ demands have made the continued procedure for the casino impossible.
‘Currently, the Taj is multimillions that are losing month, and today using this strike, we see no way 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 function as the ‘eighth wonder of the world’ by the current Republican nominee that is presidential he opened it in 1990, at a price of $1 billion. In 1991, it became the wonder that is first of globe to go under since the Colossus of Rhodes ended up being destroyed by an earthquake in 226 BC.
In 2009, Trump offered his Atlantic City casino interests to a combined team of venture capitalists, who formed Trump Entertainment. While he has had nothing to do because of the management of the Taj since, he managed to negotiate a deal whereby he retained a ten percent stake in the casino in substitution for the application of his famous brand name.
However, in 2014, incensed by what he saw as Trump Entertainment’s mismanagement associated with Taj and its sis Atlantic City property the Plaza, he litigated to have his name eliminated from both casinos. He later relented following their friend that is old Icahn intervention. He additionally relinquished the stake when Trump Entertainment declared for bankruptcy security.
The Labor Day weekend closure for the Trump Taj Mahal will keep only seven casinos operating into the beachside resort, which includes been fighting financial problems for years.
FBI Busts Significant Mafia Crime Syndicate, Included Prohibited 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 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 major fbi and nyoctf infiltration and bust. (Image: miamiherald.com)
Alleged users of the Genovese, Gambino, Lucchese, and Bonanno criminal activity families, four of the New York Mob’s top five families, were taken into custody. Key among those arrested was Joseph ‘Skinny Joey’ Merlino, the so-called boss of the Philadelphia Mob. Merlino has beaten murder fees in the past, but served prison time for racketeering.
The listing 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 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 criminal kingdom infiltrated stretched from Massachusetts to Florida, said US Attorney for the Southern District of New York Preet Bharara.
Most of the defendants are alleged to be part of a group called the East Coast LCN Enterprise, an ‘organized unlawful enterprise,’ according to the indictment, that has been formed following a pact involving the four targeted brand new York families plus 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 also firearms trafficking, today’s Mafia is fully diversified.
‘As alleged, threatening to assault, maim, and kill people who get in the way of these unlawful schemes continues to be the play that is go-to 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, running outside of the range of legality in the usa.
Undercover Agents
The arrests have 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 organization.
Investigators have amassed several thousand hours of testimony gathered 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 was a source that is big of organization’s revenue, in accordance with the indictment. It owned an establishment in New York that held poker tournaments and took bets on horses, and additionally operated sports businesses that are betting in nyc, Florida, nj-new Jersey, and Costa Rica.
All defendants plead not bad, and the majority were released on $300,000 relationship, 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 come in Rio de Janeiro to compete during the 2016 Summer Olympics, but 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 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.
Opening ceremonies begin at 8 pm local time in Rio.
The Brazilian town is one hour ahead of this United States’ coveted Eastern time area. NBC will postpone its coverage by the hour to air the event at 8 pm ET alternatively of 7 pm, much towards the dismay of several 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 component of Rio, plenty of serious issues linger as the world’s sporting tournament that is greatest 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, and its severe shortcomings in adequately preparing Rio is anticipated to push Olympic organizers right back to holding the event in more stable areas associated with globe.
Africa is now the continent that is only never host an Olympics. That most likely will not alter anytime quickly.
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 smallest. Mosquitos infected with Zika, a virus that may cause severe birth defects, continues to be rampant.
- Water: Sewage-infested waters surrounding the city contain high levels of bacteria. 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 nothing to readily lose. And having a law that is local agency that pales in comparison to first-world nations, criminal activity is of utmost concern. a 22-year-old moroccan boxer was arrested just this morning after wanting to rape two maids.
- Terrorism: The United States has over 1,000 spies in Rio monitoring terror threats and doing everything they can to keep Team USA safe. Army forces may also be on standby.
- Housing: Several countries have deemed the athletes’ village uninhabitable. Team USA basketball countered by renting a cruise that is luxurious capable of accommodating 296 guests for his or her stay in Rio.
Let the Betting Begin
In Nevada and Las Vegas, the sportsbooks have 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 series of preferred odds for gamblers.
For the very first time since the 2000 Olympics, Nevada sportsbooks are providing odds regarding the games. The Nevada Gaming Commission opted to consist of certain contests that are amateur February of 2015.
While every book in the Silver State knows football, baseball, basketball, and ice hockey, numerous aren’t quite as familiar with gymnastics, curling, speed walking, javelin, and other disciplines that are olympic.
If you’ve been a follower that is devout of slalom or handball and think you understand significantly more than Vegas, now might function as time to place a wager.
For the remainder country outside of Nevada edges, daily dream activities 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 within the all-important swing state of Nevada, where she invested an amazing amount of her time decrying Trump’s company record and disposition that is general.
Hillary Clinton invested plenty of time going after Donald Trump while campaigning in Nevada. Latest polls show her offensive attack, coupled with a week that is devastating her opponent, is working. (Image: Andrew Harnik/AP)
Showing up before a nevada audience on August 4, Clinton called Trump ‘temperamentally unfit’ to be president. She also attacked their record that is corporate in Atlantic City and nevada.
‘i went to Atlantic City and I met a true number of small businesses, too as workers, plumbers and painters, glass installers, marble installers, at one of his resorts. They finished the ongoin work . . . and they presented their bill, and also the Trump people said, ‘No, we’re perhaps not going to pay you,” Clinton reported.
Though Trump is largely taken out of 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 Democratic candidate at the event. Reid, that is 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 unusual stance in the first state to legalize Internet poker in the us.
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