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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Trump Taj Mahal Casino to Close - Losing Tens of Millions Per Month
Posted by:
Jeezus H. Christ
()
Date: August 04, 2016 08:55AM
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 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 has filed for bankruptcy multiple times and has been forced to shut down numerous failed business ventures, has bragged repeatedly about 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.
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 has filed for bankruptcy multiple times and has been forced to shut down numerous failed business ventures, has bragged repeatedly about 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.
Re: Trump Taj Mahal Casino to Close - Losing Tens of Millions Per Month
Posted by:
Complete Business Disaster
()
Date: August 04, 2016 09:14AM
That Trump Taj Mahal Casino has been one disaster after another ever since opened it. I don't know you lose money in legal gambling but Trump managed to figure it out.
It's more of Trump's business idea of throw a lot of money at a problem. You can't just throw money at something and it automatically makes a great business. Sure every now and then Trump might get lucky with the right timing or fads, but overall a very bad business strategy.
It's more of Trump's business idea of throw a lot of money at a problem. You can't just throw money at something and it automatically makes a great business. Sure every now and then Trump might get lucky with the right timing or fads, but overall a very bad business strategy.
Re: Trump Taj Mahal Casino to Close - Losing Tens of Millions Per Month
Posted by:
cbaa
()
Date: August 04, 2016 09:37AM
Only problem with your weak attempt to blame Trump is he doesn't own it. Sold in 2014. Not that facts matter much to Lieberals.