🍒 Trump Taj Mahal casino to shut down after years of losses - BBC News

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Aside from seeing an opportunity in a market that seems to be stabilizing following the closing of five of its 12 casinos since , the deal makes sense in another way for Hard Rock: The firm has partnered with Meadowlands Racetrack operator Jeff Gural on plans for a casino resort in East Rutherford, just outside New York City, if New Jersey voters ever amend the state Constitution to allow casino gambling beyond Atlantic City. He cut most of his ties with Atlantic City in , though he retained a small stake in its parent company in return for the right to use his name. Skip to content. Coronavirus Horse racing without spectators set to begin at Hawthorne, but Arlington International Racecourse is stuck at the gate. Hotel guests will even be lent Fender electric guitars to play in their rooms. Trump, now the nation's 45th president, dubbed the Taj Mahal "the eighth wonder of the world" when it opened. Though new legislation will presumably be written for the next attempt at casino expansion, last year's rules gave owners of existing Atlantic City casinos first crack at one of two new licenses that would have been created had the ballot measure passed. Penney to begin store closings, including 5 in Illinois.{/INSERTKEYS}{/PARAGRAPH} Recommended on Chicago Tribune. {PARAGRAPH}{INSERTKEYS}The sale was publicized at the time, though the purchase price wasn't. Latest Business. That remaining stake was wiped out last year when Icahn acquired the parent company, Trump Entertainment Resorts, from bankruptcy. Business Hotels cut thousands of jobs in Illinois in May as pandemic continues to hit travel and hospitality hard. With its ownership of the former Taj Mahal, Hard Rock would be well-positioned for a run at a northern New Jersey casino license. Hotels cut thousands of jobs in Illinois in May as pandemic continues to hit travel and hospitality hard. Icahn and Atlantic City's main casino workers' union were unable to agree on a new contract to restore health insurance and pension benefits, and the union went on strike in July. Icahn retains ownership of the former Trump Plaza casino, which shut down in September Hard Rock, which is owned by Florida's Seminole Indian tribe, plans to reopen the Taj Mahal in after scrubbing it of its minarets and ubiquitous mentions of Trump. A referendum to allow it was soundly defeated in November. Horse racing without spectators set to begin at Hawthorne, but Arlington International Racecourse is stuck at the gate.