Current owner of Taj Mahal casino would not sell the property but surrender the gaming license.
US.- The Department of Gaming Enforcement received a formal statement by Trump Taj Mahal Associates LLC, leaded by American magnate Carl Icahn, which notifies the surrender of the gaming license and the implementation of a deed restriction that prohibits casino activity in the venue.
Under the proposals, the Trump Taj Mahal casino and resort in Atlantic City could be reopened without a permission to operate gaming services. If the renowned property is sold, new owners would not be able to apply for a casino license neither. Although the deed restriction could be dismissed under a release price set by Icahn’s company.
“They should not be able to control the market,” said Assemblyman Chris Brown. “It’s why I have worked so hard to stop billionaires from placing anti-competitive deed restrictions on casino properties and have repeatedly called on the state to use the authority, I believe it currently has, to remove existing deed restrictions, so we can attract new investment into the resort.”
Icahn’s intentions were notified after the New Jersey Assembly approved last December a new casino legislation that suspends casino licenses in case operators close the venues. The Trump Taj Mahal casino and resort was shutdown in October 2016 due to severe financial problems, which affected the workers’ rights.