Icahn deal falls through, but Taj Mahal to stay open

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 (Phil Gregory/WHYY)

(Phil Gregory/WHYY)

It looks like the Trump Taj Mahal Casino will not become the fifth gaming hall in Atlantic City to shut this year. 

But billionaire investor Carl Icahn has backed away from a deal signed by the CEO of the Taj Mahal casino and the Unite Here Local 54 union  to resolve work rules and benefit issues.

New Jersey Sen. Jim Whelan said that will hamper efforts to keep the casino open and help reverse the decline in the city’s economy.”The one silver lining here is that they’re not going to close this week. It is going to get pushed into the new year and keep it open, and hopefully we’ll get there,” Whelan said Thursday. “But this is one of those you keep getting there by half, and you never get there. So we’ll see what happens.”

After the Icahn deal fell through, legislation to change how casinos are taxed has been put on hold.

Though the Taj Mahal will remain open into the New Year, lawmakers are still hoping an agreement can be worked out to keep it open beyond that.

 

Tom MacDonald contributed to this report.

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