An illuminated Trump Taj Mahal casino
The Trump Taj Mahal casino in New Jersey's Atlantic City, once owned by Republican presidential nominee Donald Trump and which still bears his name, is to close, its current owners announced Wednesday (August 3).
They blamed the closure, effective after the September 5 Labor Day holiday, on a strike that has dragged on more than a month in a dispute over workers' health care and retirement benefits. The Taj is losing millions each month, and Icahn Enterprises will cut its losses after losing nearly $100 million overall, the owners said.
'Unfortunately, we've reached the point where we will have to close the Taj after Labor Day weekend and intend to send WARN notices before this weekend,' said Tony Rodio, president and CEO of Tropicana Entertainment Inc., which is owned by Icahn. (The federal WARN law requires large companies to give employees 60 days notice of planned layoffs.) 'Our directors cannot just allow the Taj to continue burning through tens of millions of dollars,' Rodio said.
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