Economy

Another Failure: Trump’s Flagship Taj Mahal Casino Closing For Good

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Jim Williams, of Calvi Electric, lowers the 'M' letter from the signage of Trump Plaza Casino to his co-workers Tony Demidio and Steven Nordaby in Atlantic City, New Jersey October 6, 2014.  Workers began removing the large letters spelling out the Trump name from the shuttered Trump Plaza casino in Atlantic City on Monday after real-estate mogul Donald Trump sued to end a licensing deal that allowed the casino owners to use his name. Trump, who has emblazoned his name across properties in various U.S. cities, sued in August to have his name taken off the Trump Plaza, which closed last month, and the nearby Trump Taj Mahal, which is on the verge of closing. REUTERS/Mark Makela (UNITED STATES - Tags: BUSINESS SOCIETY TRAVEL TPX IMAGES OF THE DAY) - RTR495US

The Trump Taj Mahal in Atlantic City, once the crown jewel of Donald Trump’s sprawling casino empire, will officially close because of an ongoing strike and hemorrhaging losses, the Press of Atlantic City reported on Wednesday. The casino, which was originally owned by Trump but went bankrupt, only to be bailed out by billionaire-investor Carl Icahn, will close at the end of the summer.

Tony Rodio, president of Tropicana Entertainment, explained in a statement:

Currently the Taj is losing multi-millions a month, and now with this strike, we see no path to profitability. Our directors cannot just allow the Taj to continue burning through tens of millions of dollars when the union has single-handedly blocked any path to profitability. Unfortunately we’ve reached the point where we will have to close the Taj.

Trump, who filed for bankruptcy four times in the past three decades (one of those times with the Taj Mahal), has used his alleged business acumen as a qualification for the presidency. But as numerous reports have shown, the Republican nominee appears to have exaggerated his successes in real estate and the casino business.

In July, when Hillary Clinton took aim at her rival’s shoddy business record to make the case that a Trump presidency would destroy the American economy, she stood in front of the Taj Mahal.

The casino’s closure comes as yet another blow during one of the most chaotic weeks of Donald Trump’s presidential campaign. It began when Khizr Khan and his wife appeared at the Democratic National Convention to denounce Trump’s plan to ban Muslims from entering the country. Trump responded by attacking the Khan family.

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Read in full on Mother Jones: Trump Taj Mahal in Atlantic City Is Closing

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