The owners of the Trump Taj Mahal Casino in Atlantic City said in a court filing Friday they expected to close the Boardwalk property on or before Dec. 12.
Trump Entertainment Resorts Inc. had been warning for months the struggling casino might close this fall if it didn't get significant relief from its biggest union and millions in government aid.
The company got the relief it sought from labor last month when a bankruptcy judge allowed it to reject the union contract, but the government help it wanted - in the form of $175 million in aid over five years, including $55 million immediately - has not arrived.
The company has "not obtained the tax relief and incentives they have sought and do not expect that they will receive assistance" before exiting bankruptcy, the filing said.
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If the 1% were 5%, then there might be enough customers for that venue. But no, the 1% would rather be the .5%.
ReplyDeletewhy should the taxpayer bail out yet another business that is failing because of poor management and an economy we cannot predict. Let the Trump empire bail it out OH that's right Trump already dumped them. The only thing the casinos there have done is make the rich richer and poor poorer. It's high time we let some more of theses burdens fail and get back to basics of work ethic.
ReplyDelete543-Smart people do not gamble, while the dumb lemmings play the lottery.....I'm a dumb lemming lol
ReplyDelete7:12 trump does not own it he sold it years ago they just still carry his name
ReplyDeleteThat is the Trump way, leave someone else holding the bag.
ReplyDelete9:08 you don't have a clue. Mr Trump offered the casino for sale. Someone evaluated the business, made an offer and it was accepted and the property got a new owner fair and square. Just how die he leave them holding the bag?
ReplyDeleteQuestion.... why does the average working stiff HATE wealthy men like Trump who is obviously doing something right. Stop looking at the 1% and being so bitter. Change your own world .... do something to make yourself content and possibly you will gain a few $ while you are at it.
ReplyDelete