An appeals court says Atlantic City’s Trump Taj Mahal casino was within its rights to end health insurance and pension benefits to its workers, removing the last major obstacle to billionaire Carl Icahn taking it over.
The court ruled Friday in favor of the casino’s parent company, Trump Entertainment Resorts, which ended benefits in Oct. 2014 as part of its bankruptcy filing.
The company said it could no longer afford the benefits, and gave workers stipends to find insurance on the open market, including under the federal Affordable Care Act.
Icahn is acquiring the casino and has been keeping it afloat financially for more than a year.
He had threatened to cut off funding if the court ruling went against him, which would have forced the Taj Mahal to close.