APNewsBreak: Papers filed to close Trump Taj Mahal

[Omaha Steve]

Source: AP-Excite

By WAYNE PARRY

ATLANTIC CITY, N.J. (AP) — The owner of the struggling Trump Taj Mahal Casino Resort filed court papers on Friday saying it will close by next month, making it the fifth of the city's 12 casinos to shut down this year.

Trump Entertainment Resorts said in a Delaware bankruptcy court filing obtained by The Associated Press that its board has approved a shutdown of the casino by Dec. 12. It had threatened to close by then if its main union didn't drop its appeal of a court-ordered cost-savings package.

On Friday, the indicated time was up. The company said in court papers the closing will happen because it has not received the state and local tax breaks it sought.

"Due to the fact that the debtors had not obtained the tax relief and incentives they sought and did not expect that they would receive assistance prior to (a Nov. 10 bankruptcy court hearing), the debtors advised the Division of Gaming Enforcement of their intention to wind down operations of the Taj Mahal and to close the property on or about December 12, 2014," the company wrote. "The debtors have initiated appropriate steps to cease operations at the Taj Mahal consistent with that time frame."

FULL story at link.


Read more: http://apnews.excite.com/article/20141114/us--taj_mahal_casino_closing-3d804f34ff.html

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because it has not received the state and local tax breaks it sought. Will the Governor step in and save these 3,000 NJ jobs?

[notrightatall]

1. Let it go down. Those jobs are not worth the tax breaks.

If you can't make money at a casino, your just a lying thief.

[CanonRay]

2. We don't need any more corporate welfare clients

especially Mr. Trump

[Omaha Steve]

3. I agree

I just wanted to take a shot at YOU KNOW WHO!

But Trump doesn't have any ownership in it anymore. It is that other ass Sheldon Adelson that gives millions to conservatives.

[KamaAina]

4. "making it the fifth of the city's 12 casinos to shut down this year"

How many rooms is that total? How many homeless people could be moved into them?

[procon]

5. Do they think those "tax breaks" come without costs?

What does the community lose in exchange for trying to prop up yet another failed project that a loud-mouthed billionaire can't manage his own messes? The costs for bailing out a rich man's playground falls on the bent backs of the struggling 99%. The working class people, the mom & pop shops, and all the public services are going to pick up tab so one of the wealthiest men in the country doesn't have to spend his own money or improve his management to keep his business afloat. Why? This is the classic example of inequality. The middle class is trying to keep home and hearth together or make their own business successful, and they can't get a hand up or a tax break, but a rich man deserves a generous transfer of wealth from the pitiful downtrodden serfs they despise.

[freshwest]

9. Thank you! Just a bunch of grifters with media exposure. Bring 'em down.

[wheniwasincongress]

6. I look extra forward to

Bill Maher tonight

[EEO]

7. Good.

[onehandle]

8. Donald Trump. Impotent, hairless, non-billionaire.

Sue me, 'The Donald.'

[daleo]

10. You should have seen the Pacific Ocean in those days