All bets are off as Trump Taj Mahal casino closes after years of losses

 
Jessica Morris
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Possible Sale Of Donald Trumps Atlantic City Hotel And Casinos
Trump opened the casino 26 years ago (Source: Getty)

One of the eponymous casinos founded by the controversial US republican nominee Donald Trump is shutting its doors after years of losses.


Trump Taj Mahal in Atlantic City, which is no longer owned by the billionaire businessman, is closing in the wake of a crippling strike.

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Its current owner, Carl Icahn, told the Associated Press the Taj Mahal was a "bad bet" which had lost him tens of thousands of dollars in the past 18 months.

Its closure will cost 3,000 jobs, adding to 8,000 workers who became unemployed when four Atlantic City casinos closed down in 2014.


Tony Rodio, the chief executive of Tropicana Entertainment which owns the casino, blamed its failure on union strikes and its previous owner, the Trump Organisation.

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"Icahn Enterprises [which owns Tropicana Entertainment] saved the Tropicana [another Atlantic City casino], and to date has lost almost $100m trying to save the Taj when no other party including the prior equity owners who put it into its recent bankruptcy were willing to invest even one dollar to save it,” he said.

"Currently the Taj is losing multi-millions a month, and now with this strike, we see no path to profitability."

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