Carl Icahn may sell its Taj Mahal Casino in Atlantic City due to legislation process.
US.- Although New Jersey’s governor Chris Christie has vetoed the Senate’s bill to change shuttered casino licenses in Atlantic City, Carl Icahn has confirmed his intention of selling the Trump Taj Mahal Casino, which has closed its doors on October last year. The approved legislation would prohibit gaming operators from using their previous licenses on new casinos for five years in the State.
The Atlantic City’s casino operator Carl Icahn went through a major conflict with its employees due to a contract that had finished workers’ health insurance and pension benefit years ago. The plan was to reopen the gaming venue with a non-union staff, but the Senate’s proposal would have taken away the opportunity.
Yesterday, Chris Christie called the bill “the Legislature at its worst,” and vetoed it. However, the gaming magnate has no further interest in developing the State’s market. “I believe other large investors will similarly have no interest in investing significant amounts in Atlantic City or New Jersey as long as Sweeney is in control of the Senate,” argued Carl Icahn and complained about New Jersey’s Senate president Stephen Sweeney.
The reopening project of Trump Taj Mahal would have meant the investment of US$100 million to US$200 million. According to Gov. Christie, the bill was a “transparent attempt to punish the owner of the Taj Mahal casino for making the business decision to close its doors after its union employees went on strike and refused to negotiate in good faith.”