A few weeks ago, Donald Trump and his daughter, Ivanka Trump, officially announced that the name of Trump will be permanently removed from the exterior of Trump Plaza and the last remaining casino, owned by the company, Taj Mahal.
However, the authorities agreed to remove the name of the casino mogul from Trump Plaza but they objected the demand for removing it from the Trump Taj Mahal, the casino that might close within few weeks.
Currently, Donald Trump is suing the company he used to manage – Trump Entertainment Resorts, and he announced his claims in the Superior Court. He insists on his name being removed from Taj Mahal. Plus, Trump considers the new management approach to be among the main reasons for the rapid decline of the venue that used to be visited by thousands of players every year.
Ivanka Trump said that the family is totally against the decision of the new managers as the presence of Trump’s name on the exterior of Taj Mahal damages their brand and reputation.
According to Ivanka Trump, the new owners of the company failed in keeping the venue as reputable as it formerly was. She also added that the authorities didn’t live up to the expectations and most importantly, to the clause in the contract.
While the owners agreed to remove the Trump name from the closed Trump Plaza, they opposed the demand for removing it from Taj Mahal. In the legal filing, the authorities defined Trump’s pretension as “baseless and value-destructive”.
Last Friday, the company got a legal permission to make the union contract invalid. It asked for financial aid from various fundraisers, local authorities and state regulators in order to remain open.
However, the lack of time poses a huge threat to Taj Mahal. The casino has to be saved before Carl Icahn takes further actions towards obtaining the casino and investing a considerable amount of money into it.
A contractor was hired by the company and the last letter from the name of Trump will be removed from the exterior of Trump Plaza by the end of the month.
Donald Trump and his daughter announced that they arranged an expert in charge of the quality control with the aim of getting an evaluation of Plaza and Taj Mahal and the venues to receive poor grades. This, respectively, will make the agreement invalid and Trump will be enabled to use his name displayed on other properties.
However, the Trump Entertainment Resort authorities replied that the quality control expert didn’t give bad grades to the venues and what’s more, Trumps failed in providing solid evidence for the disadvantages and setbacks they pretend to having experienced.
The company’s representatives said that the Trump family made an attempt to terminate the contract a year ago but their arguments didn’t hold water.
They also mentioned the meeting, held last November, between the two parties. The main subject for discussion was the complicated situation of Taj Mahal and the various strategies for keeping it open and most of all, competitive.
