Trump Taj Mahal Revised Casino Union Offer Rebuffed by Carl Icahn, as New Jersey on line Outpaces on Land

At the Trump Taj Mahal, the offering bid that is latest from casino union Unite Here Local 54 to owner Carl Icahn has fallen on deaf ears in Atlantic City.
Bartenders, wait staff, cooks, housekeeping, along with other service workers stepped from the job on July 1, demanding greater hourly wages and the renovation of wellness and pension benefits that disappeared during the Taj’s bankruptcy proceedings.
Owner Carl Icahn is continuing with his intends to close the Trump Taj Mahal in Atlantic City come October, despite a new offer from the neighborhood workers union striking at the resort.
Icahn, whom took control of the property in March by acquiring nearly all its $286 million with debt, shunned the union’s offer, saying he required more time before reinstating benefits. After weeks of divisive picketing and a back-and-forth shouting match between union leaders and Icahn management, the billionaire decided to take a $100 million loss and now plans to permanently close the casino on October 10.
Unite Here saw the move as a bluff, and went back to the board that is drawing. This week the union presented a new proposal that will reportedly only price Icahn $1.3 million significantly more than their previous offer. But Icahn will perhaps not budge.
‘[Union president] Bob McDevitt while the Taj bargaining committee have no one to blame but themselves for this sad outcome,’ Tropicana President Tony Rodio told the Associated Press. Rodio is overseeing the Taj’s closing for Icahn, as well as the Tropicana is also under Icahn’s ownership.
‘If McDevitt cared even one iota about the future associated with the employees he would have allowed them to vote on the proposal we offered five weeks hence based on his guidelines, which we believe may have saved the Taj,’ Rodio concluded.
The 20 Percent
With a fortune estimated to be well worth $16 billion, Icahn is one of the wealthiest individuals on earth. The union in Atlantic City believes he reached that level by searching for himself first and most important.
‘Carl Icahn has brought hundreds of millions of bucks away from Atlantic city,’ McDevitt said this thirty days. ‘It has been nothing but the usual ‘my means or the highway’ from Carl Icahn. That is not trying to reach a contract; that’s punishing working people for standing to injustice.’
It’s the chapter that is latest in what’s been a trying saga in Atlantic City.
A report that is new Stockton University says one in five casino jobs, or about 20 percent, not any longer exist in the beachside resort. The Unite Here Local 54 hit is for about 1,000 workers at the Trump Taj, but if Icahn does certainly close the resort that is entire a total of 3,000 jobs will be gone.
Online Trumping Brick-and-Mortar
The Trump Plaza, Revel, Showboat, and Atlantic Club all closed in 2014. The remaining eight casinos managed to weather the storm throughout the last 24 months, with a few analysts calling the loss ‘right-sizing.’
The majority of the gamblers’ bankrolls will be wagered during the three Marina District resorts, and another perhaps more surprising place: on the web.
Gambling in New Jersey is up 1.5 % in 2016 through the very first six months, but brick-and-mortar revenue is up only 0.6 percent. The difference comes from online casinos surging 31.7 per cent through June.
The so-called ‘ninth casino’ pulled in nearly $95 million, more than land-based Resorts ($79.7 million) while the Taj Mahal ($85.2 million). While the overhead of a online casino is miniscule when compared to its land-based counterparts.
While that’s good for the gaming operators, it is detrimental to casino workers looking for work. As well as for now, it appears like several thousand of those workers may be facing the break season without a paycheck that is steady.
GAN Suggests It’s Dealing With A us Gambling Company on Non-US Online Casino
Dermot Smurfit has landed another investment from billionaire Dermot Desmond, and the GAN CEO says more promising news is on the way should a prospective deal having a major casino in the United States become finalized. (Image: businesspost.ie)
Great britain’s GAN, formerly GameAccount Network, hinted to the general public this week it’s working together with a gambling that is major in the United States on developing an oversees online casino. GAN CEO Dermot Smurfit said he hopes to make an announcement that is official the news before the entire year stops.
But for now, he wouldn’t reveal which gambling business GAN was in talks with.
On the web gambling continues to be illegal in 47 of the 50 states. While there is theoretically nothing that prevents A american-based casino from partnering having a company abroad to offer games where it is legal, the main operators have avoided doing so.
Erring regarding the side of caution is a good move whenever it comes towards the United States and internet gaming regulations. Five years considering that the US Department of Justice seized the PokerStars domain on poker’s infamous ‘Black Friday,’ the now Amaya-owned internet card room is still experiencing difficulties from its ‘Bad Actor’ days, particularly in California where some Native tribes want the company banned.
GAN’s Secret Partner
In the event that handle the unidentified US gaming operator goes through, GAN would provide you with the pc software and technology and the casino company would simply wrap the website having its branding.
GAN is just a business-to-business turnkey gaming systems supplier plus one of the largest interactive casino software businesses in the world.
Smurfit says online gaming is managed in countries that account fully for nearly 30 percent of the planet’s populace.
‘ This is a big strategic move for us,’ Smurfit told the Irish occasions. ‘The market hasn’t yet seen A us that is major land enter on line in Europe.’
GAN supplies online games for Borgata in Atlantic City and simulated gaming for numerous casinos Foxwoods that is including Live, and Parx.
There’s a laundry list of possible suitors that could be revealed due to the fact mystery celebration.
Though it’s complete speculation, it’s essential not to disregard the Seminole Tribe in Florida. Currently engulfed in a compact battle with state lawmakers, the Seminoles own two Hard Rock gambling enterprises within the Sunshine State and own the Hard Rock Café string.
London has a tough Rock Café, as does Manchester. Native American groups would be less focused on appeasing federal regulators as they reside on sovereign land.
But again, GAN and Smurfit didn’t provide any specifics on the usa company. Truly the only strong bet is that it’s not Sheldon Adelson’s vegas Sands.
Major Casino, Major Investor
Along with the big news that GAN might be teaming with A united states operator, Smurfit’s media conference last week had been to reveal that billionaire Dermot Desmond was further investing in the company. For $1.7 million, Desmond is purchasing 3.25 million shares that are new.
The buy is significant for GAN and Smurfit. Desmond, a businessman that is irish banker, first purchased GAN just two years after the business was founded.
‘Dermot Desmond may be the reason why my family members invested,’ Smurfit told the Irish Independent. ‘It had been Dermot Desmond’s 2004 investment in that which was then called Game Account . . . that triggered my family’s interest because Dermot quite definitely validated what it had been we had been attempting to build.’
Smurfit comes from a family that is affluent. Their father had been an executive that is chief Powerflute Oyj, a Finland paper and packaging group, and currently functions as president associated with European Corrugated Packaging Association in Brussels.
Smurfit is gambling on Desmond snagging up a larger stake in GAN as well as the company’s teasing of a prospective online that is new coming to European countries to create yet additional investors to the business.
However, stocks of GAN dropped 0.94 % on Tuesday (the London Stock market had been closed Monday).
Irish Olympic Boxers Allegedly Gambled on 2016 Summer Games
Two of these Irish boxers that are olympic being accused of gambling on the 2016 Sumer Games in Rio, nevertheless the suspects’ identities are being withheld. (Image: Ryan Byrne/Inpho Sports Photography)
Two Irish Olympic boxers allegedly gambled on the 2016 Summer Olympics in Rio de Janeiro. If the costs are proven, the athletes that are unidentified face serious disciplinary sanctions from both the International Olympic Committee (IOC) while the Olympic Council of Ireland (OCI).
Pat Ryan, the president myfreepokies.com associated with Irish Amateur Boxing Association (IABA), says there isn’t any conceivable way the duo gambled without knowing these were in breach of participation agreements they finalized just before the Games.
‘They have all attended numerous seminars. They have already been fully informed of the contract’s content,’ Ryan said on RTÉ’s ‘This Week.’
‘All the Olympians have finalized agreements therefore the agreements are very explicit,’ Ryan continued. ‘There are regulations from participating in betting on Olympic occasions and providing inside information to gamblers. in it on gambling which bans them’
It’s maybe not known which sports the pair bet on.
The Integrity Betting Intelligence System (IBIS), established in 2014 by the IOC, reportedly caught the two Irish Olympic boxers.
IBIS collects and distributes intelligence on sports gambling around the world because it pertains to the Olympics. Should it identify an irregular betting pattern or dubious task, the IOC is notified.
Police Lineup
The Irish that is fighting did perform well in Rio. The united states won just two medals, both silver, one in rowing and one other in cruising.
Ireland planned to deliver eight boxers to Rio, but just seven made the trip after Michael O’Reilly was expelled from the Games for failing a drug test.
The seven athletes who competed were:
Paddy Barnes
Michael Conlan
Joseph Ward
David Joyce
Steven Donnelly
Brendan Irvine
Katie Taylor
It’s confusing whether the alleged gambling happened before or through the actual Olympics. Considering activities wagering is widespread in Ireland and banned in Brazil, one may be inclined to think the two suspects put bets before their trips south.
Countless operators are cooperative partners of IBIS. One company that participates is the Remote Gambling Association, an industry cooperative whose membership includes Irish bookmaker Paddy Power.
The IOC’s investigation is ongoing.
‘ What we shall do is await the conclusion associated with IOC’s investigation . . . then we will be in a position to take the mandatory action that is disciplinary’ Ryan explained.
Luck of the Irish?
The weeks following 2016 Olympics appear to be a bad hangover for the Irish.
Not just are two of their boxers the topics of a gambling investigation, but OCI President Pat Hickey is still in Rio on charges of improperly tickets that are selling. Hickey was finally released from a Rio prison on 30, and remains firm that he committed no violations august.
The 71-year-old said in a statement, ‘I will now remain in Rio and my lawyers will go to have the charges laid against me set aside as there is absolutely no proof that is substantive of wrongdoing on my part. I’d like to thank the prison authorities for their kindness they demonstrate in my experience.’
Ireland’s scandalous Olympics wasn’t its very first.
During the 2012 London Games, sailor Peter O’Leary was proven to have placed a $330 wager on one of his opponents to win. The bet internet O’Leary some $4,000.
Pocono Casinos Enjoying Bountiful 2016 as Revenues Trend Up
Pocono gambling enterprises have done a job that is tremendous their slot machines occupied, while the games are the key reason the two resorts are seeing their profits upsurge in 2016. (Image: Kevin Mingora/Allentown Call morning)
The two Pocono casinos located in the mountainous northeastern Pennsylvania region are posting higher total profits across their gambling floors in 2016. Mohegan Sun Pocono and Mount Airy Casino Resort are correspondingly up 1.62 per cent and 2.87 percent through the first six months.
Once again it is the tried-and-true slots responsible for the video gaming win increase.
Mohegan Sun reported slots revenue for 1st half of the year was $111 million, a five per cent enhance in the same period in 2015. At Mount Airy, slots brought in $71.5 million, a nearly six gain that is percent the resort.
As the reliable slots increased their winning ways for gaming operators, tables headed in an opposite direction. Table games reduced 12 percent at Mohegan Sun to $22.8 million and 5.6 percent at Mount Airy to $21 million.