“Strong Likelihood” that Trump Taj Mahal will be saved
For the past few weeks, it seemed like a foregone conclusion that the Trump Taj Mahal would close its doors. The casino was even slated to be shut down on December 12th. But now there’s definite hope for the casino after Atlantic City Major Don Guardian said there’s a “strong likelihood” that the Taj Mahal can be saved.
The casino’s closing date has now been pushed back to December 20th while all sides hash out a plan to keep the establishment open. As NBC Philadelphia reporter Cydney Long says, the Trump Taj Mahal needs “all players, all parties involved at the negotiating table” to keep their word.
These parties include the Atlantic City government, state of New Jersey, billionaire investor Carl Icahn and the Unite Here Local 54 union. Icahn is especially significant in this matter because it’s his money that could save the casino. However, he’s been at odds with Unite Here 54 and the local government.
The holder to Taj Mahal’s mortgage insists that the union workers need to give up their healthcare benefits and pension plans to save the casino. But the union has been protesting Icahn on this matter ever since he proposed it. The city comes in because they refuse to devalue Trump Taj Mahal’s property from $1 billion to $300 million – a move that would save them $50 million in annual taxes.
There’s been little said about the discussions lately, with most assuming that the casino will simply close. However, Guardian’s optimism means that there might still be some hope for the casino yet. But with money tight, it’s only going to happen if the four aforementioned sides can finally come to an agreement on everything.