Those who keep themselves informed about the disagreements between Donald Trump and the executives of Taj Mahal Casino know that the affected parties have entered a legal battle related to the name of the casino or to be more precise, Donald Trump and his daughter required Trump’s name to be removed from the facade of the struggling casino.
However, mere hours ago, it became clear that an agreement between Donald Trump and Carl Icahn, the billionaire who prevented the closure of Taj Mahal, was reached. In other words, Trump’s name will not be removed from the exterior.
Yesterday, in a court filing, representatives of Trump Entertainment Resorts said that namely Trump name is what makes the company different from the others in the gambling business and added that it was “iconic” and “invaluable”.
Donald Trump and his daughter Ivanka Trump were also reached for a comment. Mr. Trump said that Trump Entertainment Resorts has neglected the two Atlantic City-based properties and therefore, tarnished his reputation and brand in particular.
Ivanka Trump said that they agreed on signing a deal with Carl Icahn with the aim of being able to keep a close eye on the hotel and make sure it offers accommodation and facilities of the highest class.
Last month, the Trumps were allowed to continue with the legal proceedings but a few days ago, Trump Entertainment Resorts appealed the decision.
The Trump name is outlined, although the letters themselves have been removed from the facade of Trump Plaza. However, the executives of Trump Entertainment Resorts wanted to continue using the name for the exterior of Taj Mahal Casino.
The agreement between the Trumps and Carl Icahn contains an important clause, though. Trump Entertainment Resorts has the responsibility of removing “any and all vestiges” of the exterior of Trump Plaza.
Donald Trump is no longer in charge of Trump Entertainment Resorts but he still holds a 10% stake in the company. Yet, he is said to be pretty sensitive to any negative comments and associations with his name caused by various rumors and speculations. That is why he wanted to make it clear that he has not be involved in the management of Trump Entertainment Resorts for six years.
In order to come into force, the agreement in question has to be approved by a judge from the Federal Court of Delaware.
