Trump Taj Mahal may be given to another investor if plans to sell it by Trump’s colleague, business associate and fellow investor chum billionaire Carl Icahn go through. That at least is the unofficial consideration from this billionaire who says that as Trump’s longtime friend, he has an unpaid side gig as a regulatory advisor.
In his latest press statement with Wall Street Journal, Icahn who was highlighting on the possible appointment, asserted, “I am so much involved with Mr. Trump. I will be where he feels I should. He esteems my views on many things and what I think Mr. President-elect is going to do is to ensure that businesses around this great country are not left to perish because of absurd legislation by bureaucrats.”
For many years now, Taj Mahal has been in the news for making real money online casino gambling sites; this, of course, is the case with other casinos.
Located in a strategic position, which to many is a vantage point, the Taj Mahal, which is in Atlantic City, will finally be in the hands of a new investor. It is said that you would find that billion-dollar beachfront complex at a pocket-friendly price.
Mr. Carl is likely to be affected if the bill that is before the New Jersey’s assembly comes into law, which in part, says, no casino investor who substantially closed down a gambling floor will be given a chance to reopen it until at least 5 years elapse.
The bill was brought before the house by Stephen Sweeney, the State Senate President. The term substantially closed down, remains a terminology only the Gaming Enforcement Division (DGE) can define. The enforcement is the only department that has been mandated with the responsibility of determining which casino tycoon will be barred from reopening a gambling floor.
Responding to the bill that is before the house, Mr. Carl said, “Sweeney’s bill is another awkward and absurd antic that will definitely hurt AC for many years.”
He Might Finally Give It Away
Mr. Icahn acquired the Trump Taj Mahal using Trump Entertainment Resorts nearly 10 months ago. However, the acquisition quickly received opposition that led to its closure thus affecting the resort’s more than 3,000 workers.
Reports that have been going round for a long time indicated that Carl had planned to reopen the club early 2017. However, after the announcement of Sweeney’s bill before the house, Icahn is reconsidering to sell the property.
Although the bill has not been made into law, because it requires the governor’s signature, it does not deter Mr. Icahn to transfer all the necessary credentials like gaming license and other details to interested enterprises the likes of MGM or Caesars.
Online Gaming Business Is On
Although recent regulations by people who hardly understand business dynamics have affected business especially online gambling sites, business is going on in AC.
Even as online gambling business continues, a bigger portion of the more than 1000 workers who were laid off following the closure of Taj Mahal is yet to find an alternative.