A federal bankruptcy court judge voided the labor contract at Trump Taj Mahal, raising hopes that 3,000 jobs could be saved.

Judge Kevin Gross granted a request by Trump Entertainment Resorts to terminate its contract with Local 54 of the Unite-HERE union.

The company and billionaire investor Carl Icahn said the casino can't survive without shedding costly pension and health care obligations. Icahn would acquire the casino and pump $100 million into it if he gets $175 million in state aid.

Voiding the union contract was a key part of the plan to keep the Taj Mahal open. Trump Entertainment had threatened to shut the casino on November 13th if the judge ruled against it.

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