Trump Taj Mahal In Atlantic City Finally Closes
In the midst of an employee strike and a controversial presidential campaign by its namesake, the Trump Taj Mahal casino and hotel in Atlantic City closed its doors for good this week.
More than 2,800 workers no longer have jobs at the hotel, now owned by activist investor Carl Icahn, who purchased the property out of bankruptcy from his buddy Donald Trump in 2014. Atlantic City has struggled lately, including coming close to defaulting earlier this year. Icahn says he lost $350M on the casino since buying it, Forbes reports.
The casino industry in Atlantic City—which Trump himself pioneered until his ventures flamed out in fantastic fashion—looks like it's beyond the point of saving. At a Bisnow event on South Jersey in June, Atlantic City mayor Donald Guardian said the city must try to lure a university, corporate offices and second homes if its future is to look brighter than its present. [Forbes]