More than a quarter of a century after Trump Taj Mahal opened doors in Atlantic City, dubbed as the world’s largest casino with its 120,000-square-foot gambling floor and the eight wonder of the world, it all shows that the property will be shuttered for good.
Owners of the struggling complex filed a petition with the New Jersey Division of Gaming Enforcement, seeking formal approval to close it down on October 10. The said petition was submitted to the state gambling regulator on September 2 but it was not until Friday, September 9, when the act was made public.
Under state law, the Division of Gaming Enforcement should be informed about the precise date of a given casino’s closure as well as how exactly it would be shuttered before giving its approval for the process.
It was early in August when billionaire Carl Icahn, who currently owns Trump Taj Mahal, announced that the casino resort would be shuttered. The businessman cited the more-than-a-month-long workers’ strike as the main reason for the management’s decision. According to Mr. Icahn and other Trump Taj Mahal officials, the strike resulted in the casino losing millions of dollars and harming irreparably its profitability.
Health insurance and pension benefits terminated by a bankruptcy judge in 2014 were at the heart of the conflict between the venue’s owner and UNITE HERE Local 54 members who picketed the casino for more than a month. Trump Taj Mahal’s owner proposed new contract terms on several occasions but those were not found agreeable enough by workers.
The hotel and casino complex opened doors in 1990. It was initially owned by GOP presidential candidate Donald Trump. However, Mr. Trump cut most of his ties with Atlantic City in 2009. Up until recently, he held a 10% stake in Trump Taj Mahal’s parent company but wiped out that one, too.
Barely escaping bankruptcy, the casino was taken over by Mr. Icahn last year. The New York investor has injected funds in the property to keep it afloat since then.
According to the closure petition, Trump Taj Mahal will be shuttered at 6 am on October 10. As part of the closure procedures, unused liquor supplies will be stored, playing cards, chips, and dice will be destroyed, and slot machines will be disconnected. Designated gaming tables will begin closing down as of September 26.
Although the Trump Taj Mahal management has clearly stated its plan to close it, the notice filed with the Division of Gaming Enforcement can be pulled at any time, if casino officials eventually decide to keep it open.
