Carl Icahn really wants to revitalize the Taj Mahal in Atlantic City and save yourself thousands of jobs in the process, but he says it can not be done unless local union workers are ready to compromise. Unhappy union employees, shown here at an early on protest, feel otherwise.

Billionaire Carl Icahn has obtained the Trump Taj Mahal, exchanging $292 million he’s owed for complete ownership of the casino in a deal that was approved by the brand new Jersey Casino Control Commission this week.

Icahn says he shall invest another $100 million to revitalize the resort and to keep the Atlantic City landmark solvent.

‘We believe when you pull into the Taj Mahal, it’s dirty, it is dated, and it needs to be freshened up,’ Trump Entertainment CEO Robert Griffin said of this settlement. ‘I feel extremely highly that the Taj Mahal will prosper.’

That will likely be no simple task, but, while the north end boardwalk gambling venue continues to operate at a loss, including being $8.7 million in the red for the very first quarter of 2015. The hotel’s 2,010 spaces had been less than 50 per cent full throughout the very first three months associated with year, a drastically lower price than that of one other seven casino hotels that averaged occupancy levels of around 70 to 85 percent.

Icahn’t Stand Unions

Icahn is optimistic which he can restore the Taj to its former days of glory. But one condition that is key mogul insists on is that neighborhood 54 as well as the UNITE HERE unions stop their pursuit of getting a court mandate Icahn to reinstate benefits for workers that were terminated by Trump Entertainment during bankruptcy proceedings.

On Wednesday, Icahn told reporters he sees the Taj being reestablished much like he did with the Tropicana, the other Atlantic City casino under his ownership.

‘Although regional 54 seems fixated at all costs on damaging the Taj, and risking its closing and the lack of almost 3,000 jobs, I am optimistic,’ Icahn said.

Icahn also released a letter to Local 54 Taj employees this week that likens the nationwide UNITE HERE organization up to a Ponzi scheme that uses dues to enrich the lives of its leadership at a cost that is detrimental its users.

‘It is definitely an fact that is undisputable your union leadership declined to negotiate with the Taj as the losses were mounting and it was pushed into bankruptcy. Your union leadership declined to think about any concession that would have assisted keep the Taj afloat, and that’s because your jobs do not matter to the union leadership,’ Icahn wrote.

Icahnoclast

The once bustling gambling mecca of the coast that is east now house to just eight total casinos, and Icahn now has control of two, or 25 % of the town’s gaming venues. That means along side Caesars Entertainment, owners of Bally’s, Caesars Atlantic City, and Harrah’s, Icahn has a little monopoly on town where the game of Monopoly is based.

Thought it is understandable union workers want and need their wellness insurance coverage and retirement benefits reinstated, their tactics might be going about this in the incorrect way. This week, Local 54 delivered a letter to Icahn’s midtown Manhattan office by having a list of its demands, along side an apple pie, a dig in reaction to Icahn saying ‘apple pie and roses isn’t what sort of globe works’ earlier this year.

Jeb Bush Latest GOP Candidate to Enter Republican Presidential Race

Today officially official: After many months of unofficial fundraising, Jeb Bush confirmed his bid for the 2016 GOP nomination. The son and sibling of two past US presidents is hoping to separate his campaign from his rather family name that is famous. Sort of. (Image: Erik Schelzig/AP)

Jeb Bush joined the ever-expanding crowd of Republican candidates in the 2016 election that is presidential Monday, with an announcement at Miami-Dade College in the afternoon. But unlike many of the over a dozen applicants within the GOP field, Bush will be hoping to perform from a position of strength, as he will be one associated with favorites for the celebration’s nomination in the early going of this campaign.

‘ In virtually any language my message is going to be a good one, because i’m certain that we are able to make the decades just ahead in the us the greatest time ever to be alive these days,’ the newest Bush governmental dynasty candidate opined, using both English and Spanish to handle the live and truly massive TV market.

Columba Bush, a first-generation Mexican immigrant who married Jeb 41 years back, could prove critical in helping him reach Hispanic voters. (Image: Bill Ingalls/NASA/Getty)

Columba Bush, who is hitched to your politician for 41 years and was originally from León, Guanajuato in Mexico, will certainly be an essential force in a country grappling with immigration and dual-language problems on a basis that is almost daily.

In fact, the story goes that Mrs. Bush did not speak English when even she married Jeb back in 1974. Her mother had been reportedly a worker that is migrant food server.

Bush may need the help. Although the Florida that is former governor frequently the first choice in national polls of Republican voters, though that advantage is very narrow. In fact, it may be more accurate to look at Bush, Wisconsin Governor Scott Walker, and Florida Senator Marco Rubio as co-leaders only at that stage that is early.

Strong Establishment Candidate

That stated, Bush has plenty of advantages that will make their campaign a strong one. For one, he will have no difficulty raising cash.

One PAC that is super that supporting him had hoped to improve $100 million by the end of June, even though they will almost certainly come up short of that goal, it’s clear there will be lots of funding for the Bush war chest.

He’ll also provide numerous endorsements from Republican establishment figures, as well as a name that voters are familiar with, although his Jeb! 2016 slogan seems to indicate he is attempting to not drive on at the least the most obvious of coattails. After all, that famous name that is last a double-edged sword, according to which voters you’re chatting to.

While both his brother and father have planet 7 oz no deposit bonus 2017 previously offered as president, Jeb Bush is trying to avoid being seen simply whilst the next in line of succession, with a ‘royal’ aspect that numerous voters may perhaps not be comfortable with.

Campaign Was Unofficial for Months

Needless to say, by any standard that is reasonable Bush’s campaign has been underway for months, but he’s got carefully skirted the line in order to avoid officially launching a campaign company until now. Within the weekend, Bush told CNN that becoming an official candidate will enable him to better articulate his message to the US people.

‘we think this transition to a candidacy will allow me to be more direct about my advocacy for the leadership abilities essential for the next president to fix a few things,’ Bush said while in, of all places, Estonia this weekend. ‘ And as a candidate, contrary to somebody who has been listening and learning along the way, we’ll offer alternatives to the path we’re on aswell, so I’ll be more specific on policy.’

Historically Opposed to Gambling

It is uncertain whether we’ll get any information on Bush’s gaming policies, but his past stances on gambling problems while governor of Florida make it pretty clear as he strongly opposed gambling expansion in the state that he is no fan of casinos. Their stances on Internet gambling are less clear, though it is hard to imagine he would be any friendlier to online poker and casino games than he was with their land-based counterparts.

Perhaps more importantly to his campaign, Bush may have to win over conservative voters who aren’t always on board with his stances on immigration and training, both areas where their wife can become an important campaign ally. He also recently struggled with questions over how he would have handled the war in Iraq, and fired their campaign manager week that is just last to squabbles inside his camp.

New Jersey Casinos See Online And Live Gains In May

The Golden Nugget has seen huge gains in its online gambling operations over the year that is past. (Image: GoldenNugget.com)

New Jersey’s online gambling market continues to grow, assisting strengthen the remaining eight gambling enterprises still operating in Atlantic City.

But while the entire figures are positive, not all games and casinos are sharing equally within the good fortune.

In line with the nj-new Jersey Department of Gaming Enforcement (DGE), online gambling profits were around $12.47 million in May.

That represents a rise of more than 19 % over last May, when the sites brought in simply $10.47 million.

Online Casinos Up, Poker Down

But that growth has been fueled very nearly entirely by online casinos. In comparison, online poker rooms are struggling. Internet poker brought in only under $1.93 million in May, down from $2.27 million in identical month a year ago.

That figure marks the second-lowest monthly revenue for internet poker in New Jersey, with only last November trailing the absolute most month that is recent.

Once in charge of a quarter or maybe more of on the web gambling revenues in nj-new jersey, poker is now only about 15 % associated with the market.

The 888/World Series of Poker partnership felt most of the damage on the poker side of things. The $831,799 they brought in through their Internet poker partnership ended up being an all-time low, while their only competitor in the state, Borgata/partypoker, held fairly steady.

Holding constant was a theme for the Borgata, as its overall Internet revenues were down by about one percent also.

It’s still the online market leader, collecting about 32 percent of most revenues, but growth seems to have stalled: the company has yet to beat out its 2014 performance online in any month this season.

On the other hand, several companies have observed their online offerings lose, none less than the Golden Nugget.

The casino has taken full advantage of the fact that BetfairCasino.com is now operating through them considering that the closure of this Trump Plaza, and has now ridden that new partnership to a clear second place in their state’s iGaming landscape.

Live Numbers Promising for Atlantic City

But while the online numbers may show a mixture of ups and downs for Atlantic City’s casinos, the overall numbers for the industry had been very encouraging in May. Overall, casinos won $208.6 million for the month, 5.3 percent more than those same eight casinos took in last year.

To make sure, the overall cake is still smaller: if you consist of three more casinos that were operating last May but have since closed, the revenues are down by about 9 per cent.

But with fewer casinos in the mix, the might revenues still represent a exemplary result for the casinos that are still in operation.

‘That’s a strong showing for what our detractors say is a weak market,’ stated brand New Jersey Casino Control Commission Chairman Matt Levinson. ‘Whether you look during the outcomes for usually the one thirty days or for the initial five months of this 12 months, total video gaming income is up for the current operators. The dimensions of the market may be smaller, but the wellness of this operators that are current getting stronger.’

The winner that is biggest ended up being Caesars, which saw its month-to-month revenues increase by 51 per cent over last May. That was largely as a result of month that is particularly unlucky high-stakes table games last year for Caesars.

Just two casinos were down year-over-year, including the Borgata, which saw revenues fall by 4.7 per cent but nevertheless easily led the city with $56.1 million for the month. Also down was the Trump Taj Mahal, which will be along the way of being obtained by Carl Icahn.