BREAKING: Trump Taj Mahal Set to Close After Labor Day Weekend

[DonViejo]

The Trump Taj Mahal Casino Resort in Atlantic City is closing down soon, following Labor Day weekend.

According to Press of Atlantic City, the decision to close down is being made amid the workers’ strike, which has officially become the longest in the history of Atlantic City casinos.

You can read the full statement from Tony Rodio, the President and CEO of Tropicana Entertainment, below:

[image][/image]

http://www.mediaite.com/online/breaking-trump-taj-mahal-set-to-close-after-labor-day-weekend/

[Hekate]

1. Another bankruptcy? Loser. Sad.

[rocktivity]

8. Another Trump "sacrifice."

He's already filed suit to have his name removed from it and the Trump Plaza.

http://www.npr.org/sections/thetwo-way/2014/08/06/338367389/donald-trump-sues-to-remove-his-name-from-atlantic-city-casinos


rocktivity

[louis-t]

2. People only count the bankruptcies.

There are lots more of his companies that just shut down and went out of business. Lots more.

[mylye2222]

3. Haha!!!! Another proof of his sucsessfull buisness skills!!!!

[Recursion]

4. But, no, seriously: how do you lose money on a casino?

How is that even possible?

[bettyellen]

6. When they were built there was no competition in the area....

So they never had to try very hard to attract people. They never invested in upgrading the city itself as a destination. Too selfish to think long term.

Now there are casinos in NY and CT as well
as more legal gambling in NJ. It's not even popular with the bus loads of seniors anymore. It's cheaper to fly to Vegas and get a room than it is to stay there.

[6chars]

10. the answer is interesting and illuminating

1) promise investors the casino won't borrow a lot of money at a high interest rate
2) have the casino borrow a huge amount of money at a high interest rate
3) have the casino pay you a lot of cash for worthless assets and services
4) wish the casino good luck on earning enough to cover its interest payments while you walk away with the cash

[oberliner]

11. No one goes

You have huge debts and expenses and you don't have any customers.

[Cal Carpenter]

5. Blaming the unions

Real charming, assholes.

[rocktivity]

7. And after being in business for more than 350 years...

http://tajmahal.gov.in

Oh, you mean the Taj Mahal in Atlantic City...


rocktivity

[amandabeech]

9. Don't get too excited.

The Taj is owned by one of Donald's buddies, Carl Icahn, not by the Donald himself.

Icahn is total scum, and I am happy to see him lose money, but it would be better if the Donald still owned the thing.

[postatomic]

13. I wouldn't call Carl Icahn a 'buddy' of the Orange Blob

And he doubled his money on the sale of Bonds from the Taj. During one of the Bankruptcy Hearings:

In 2010, Trump took the stand in a Camden, N.J., courtroom and swatted back, saying, “Mr. Icahn has led companies into many, many bankruptcies” and reasserting that he still had one of America’s most valuable brands. “I wouldn’t switch my assets for his assets any day of the week,” Trump said.

Icahn was unconvinced. “I like Donald personally, but frankly I’m a little curious about the big deal about the name,” he told the Wall Street Journal. “If the name is so powerful, then how come they went bankrupt three times?”

For that matter, is anyone really a 'buddy' of The Orange Blob?

[RBInMaine]

12. But but but...he's the "best businessman ever!" ????? hahahahaha...