Trump Taj Mahal to close 26 years after Trump opened it

FILE - In this April 24, 2015 file photo, the exterior of the Trump Taj Mahal casino in Atlantic City, N.J. The first rule of gambling is sometimes you win and sometimes you lose. Not even Donald Trump was immune to that fundamental truth as he built a gambling empire. He helped Atlantic City grow its casino market into the nation’s second-largest while welcoming celebrity friends like Michael Jackson, smothering his casinos in neon purple carpeting, and bringing his touch to decorating: If one chandelier is good, then 17 are better. But the debt he incurred while doing so repeatedly led the casinos into bankruptcy _ a problem that also beset most other Atlantic City casinos. And his efforts to expand the empire to other states did not go so well. (AP Photo/Wayne Parry, File)

ATLANTIC CITY, N.J. (AP) – Donald Trump opened his Trump Taj Mahal casino 26 years ago, calling it “the eighth wonder of the world.”

But his friend and fellow billionaire Carl Icahn is closing it Monday morning, making it the fifth casualty of Atlantic City’s casino crisis.

The sprawling Boardwalk casino will shut its doors at 5:59 a.m., having failed to reach a deal with its union workers to restore health care and pension benefits that were taken away from them in bankruptcy court.

Nearly 3,000 workers are losing their jobs, bringing the total jobs lost by Atlantic City casino closings to 11,000 since 2014.

Trump tells The Associates Press he thinks both sides should have been able to reach a deal to save the casino.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s