The Latest: Atlantic City's Trump Taj Mahal casino closes

AP News
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Posted: Oct 10, 2016 6:10 AM
The Latest: Atlantic City's Trump Taj Mahal casino closes

ATLANTIC CITY, N.J. (AP) — The latest on the closing of Atlantic City's Trump Taj Mahal casino. All times local.

6 a.m.

Trump Taj Mahal casino has closed, becoming the fifth Atlantic City casino to go out of business since 2014.

Monday's closing comes after billionaire owner Carl Icahn failed to reach a deal with union workers to restore health care and pension benefits that were taken away from the workers in bankruptcy court.

The union went on strike July 1, and Icahn decided to shut the place down, determining there was "no path to profitability."

Nearly 3,000 Taj workers are losing their jobs, bringing the total jobs lost by Atlantic City casino closings to 11,000 since 2014.

Donald Trump opened his Trump Taj Mahal casino 26 years ago, calling the sprawling property with its soaring domes, minarets and towers "the eighth wonder of the world."

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5 a.m.

Donald Trump opened his Trump Taj Mahal casino 26 years ago, calling it "the eighth wonder of the world."

But his friend and fellow billionaire Carl Icahn is closing it Monday morning, making it the fifth casualty of Atlantic City's casino crisis.

The sprawling Boardwalk casino will shut its doors at 5:59 a.m., having failed to reach a deal with its union workers to restore health care and pension benefits that were taken away from them in bankruptcy court.

Nearly 3,000 workers are losing their jobs, bringing the total jobs lost by Atlantic City casino closings to 11,000 since 2014.

Trump tells The Associates Press he thinks both sides should have been able to reach a deal to save the casino.