Report: Deal Reached to Save Trump Taj Mahal
A deal has been reached to keep the Trump Taj Mahal casino open.
The New York Post reports that investor Carl Ichan agreed on Wednesday to the demands of the workers union, Unite Here 54 and will restore all work rules at Atlantic City's second-largest casino. The deal will officially be announced today.
The deal will keep 3,000 workers employed. The hotel was set to close on Saturday.
As part of the deal, which was reached by Gov. Christie's appointed gaming czar Jon Hanson, state Senate President Steve Sweeney (D) is expected to propose legislation that will give the Taj about $150 million in tax breaks.
Ichan will also get ownership of the casino and $100 million in cash in exchange for his debt.
Eric Scott breaks down the details in the video below.
- Icahn brokers ‘deal’ to save Atlantic City’s Trump Taj Mahal / New York Post