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

During 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, as well as other service workers stepped off the job on July 1, demanding greater wages that are hourly the renovation of health and pension benefits that disappeared throughout the Taj’s bankruptcy procedures.
Owner Carl Icahn is continuing with his plans to close the Trump Taj Mahal in Atlantic City come October, despite an offer that is new the local workers union striking during the resort.
Icahn, who took control of the property in March by acquiring the majority of its $286 million in debt, shunned the union’s offer, saying he needed more time before reinstating benefits. The billionaire decided to take a $100 million loss and now plans to permanently close the casino on October 10 after weeks of divisive picketing and a back-and-forth shouting match between union leaders and Icahn management.
Unite Here saw the move as a bluff, and went back to the drawing board. This week the union presented a new proposition that will reportedly only cost Icahn $1.3 million more than his previous offer. But Icahn will not budge.
‘[Union president] Bob McDevitt as well as the Taj bargaining committee have no one to blame but on their own for this outcome that is sad’ Tropicana President Tony Rodio told the Associated Press. Rodio is overseeing the Taj’s closing for Icahn, and also the Tropicana is additionally under Icahn’s ownership.
‘If McDevitt cared even one iota in regards to the future of this employees he would have allowed them to vote on the proposal we offered five weeks ago based on his recommendations, which we believe could have saved the Taj,’ Rodio concluded.
The 20 Percent
With a lot of money estimated to be well worth $16 billion, Icahn is certainly one of the wealthiest individuals in the world. The union in Atlantic City believes he reached that known level by looking out for himself first and foremost.
‘Carl Icahn has taken hundreds of millions of dollars out of Atlantic city,’ McDevitt said this month. ‘It has been nothing but the usual ‘my means or the highway’ from Carl Icahn. That’s not trying to reach an agreement; that’s punishing people that are working standing up 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 states one in five casino jobs, or about 20 percent, not any longer exist in the beachside resort. The Unite Here Local 54 strike is for approximately 1,000 workers during the Trump Taj, but if Icahn does indeed close the entire resort, 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 handled to weather the storm over the last 24 months, with some analysts calling the loss ‘right-sizing.’
Almost all of the gamblers’ bankrolls will be wagered during the three Marina District resorts, and another perhaps more astonishing place: online.
Gambling in nj-new jersey is up 1.5 per cent in 2016 through the first six months, but brick-and-mortar revenue is up only 0.6 percent. The huge difference comes from online casinos surging 31.7 % through June.
The alleged ‘ninth casino’ pulled in nearly $95 million, more than land-based Resorts ($79.7 million) together with Taj Mahal ($85.2 million). And the overhead of a casino that is online miniscule in comparison to its land-based counterparts.
While that’s good for the gaming operators, it is bad for casino workers looking for work. And for now, it looks like several thousand of those workers may be dealing with the vacation season without a steady paycheck.
GAN Suggests It’s Working With A united states Gambling Company on Non-US On-line 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 with a major casino in america become finalized. (Image: businesspost.ie)
The uk’s GAN, formerly GameAccount Network, hinted to the general public this week it’s dealing with a gambling that is major in the United States on developing an oversees online casino. GAN CEO Dermot Smurfit said he hopes to create an official announcement on the news before the year concludes.
But for the time being, he wouldn’t reveal which gambling business GAN ended up being in talks with.
On the web gambling stays unlawful in 47 of the 50 states. While there is technically nothing that prevents A american-based casino from partnering by having a business abroad to offer online flash games where it’s legal, the main operators have prevented doing so.
Erring regarding the side of caution is a move that is good it comes down to your 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 encountering difficulties from its ‘Bad Actor’ days, particularly in California where some Native tribes want the company banned.
GAN’s Secret Partner
If the handle the US that is unidentified gaming undergoes, GAN would supply the pc software and technology and the casino company would merely wrap the website with its branding.
GAN is just a business-to-business turnkey gaming systems supplier and another associated with the interactive casino software companies that are largest in the world.
Smurfit says online gaming is controlled in countries that account for nearly 30 % of the planet’s populace.
‘ This is a big move that is strategic us,’ Smurfit told the Irish occasions. ‘The market hasn’t yet seen a major united states land casino enter online in Europe.’
GAN supplies online games for Borgata in Atlantic City and simulated video gaming for numerous casinos Foxwoods that is including Live, and Parx.
There exists a laundry list of possible suitors that might be revealed because the mystery party.
Though it’s complete speculation, it is important not to ever overlook the Seminole Tribe in Florida. Currently engulfed in a battle that is compact state lawmakers, the Seminoles own two Hard Rock gambling enterprises into the Sunshine State and own the Hard Rock Café chain.
London has A hard Rock Café, as does Manchester. Indigenous groups that are american be less concerned with appeasing federal regulators as they reside on sovereign land.
But again, GAN and Smurfit didn’t provide any specifics on the US company. The actual only real strong bet is that it isn’t Sheldon Adelson’s nevada Sands.
Major Casino, Major Investor
Along with the big news that GAN might be teaming with A us operator, Smurfit’s media conference a week ago had been to reveal that billionaire Dermot Desmond was further investing in the company. For $1.7 million, Desmond is purchasing 3.25 million new shares.
The buy is significant for GAN and Smurfit. Desmond, a businessman that is irish banker, first dedicated to GAN just two years after the company ended up being founded.
‘Dermot Desmond may be the good reason why my children members invested,’ Smurfit told the Irish Independent. ‘It ended up being Dermot Desmond’s 2004 investment in the thing that was then called Game Account . . . that triggered my children’s interest because Dermot very much validated what it had been we were attempting to build.’
Smurfit comes from a family that is affluent. His father was a main executive at 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 while the company’s teasing of a potential online that is new coming to European countries to bring yet additional investors to the business.
Nevertheless, shares of GAN dropped 0.94 per cent on Tuesday (the London Stock Exchange ended up being Monday that is closed).
Irish Olympic Boxers Allegedly Gambled on 2016 Summer Games
Two of these Irish Olympic boxers are being accused of gambling on the 2016 Sumer Games in Rio, nevertheless the suspects’ identities are myfreepokies.com 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 charges are proven, the unidentified athletes would face serious disciplinary sanctions from both the International Olympic Committee (IOC) and also the Olympic Council of Ireland (OCI).
Pat Ryan, the president associated with the Irish Amateur Boxing Association (IABA), says there is no conceivable method the duo gambled without knowing they were in breach of participation agreements they finalized ahead of the Games.
‘They have all attended seminars that are numerous. They have been completely informed of the contract’s content,’ Ryan stated on RTÉ’s ‘This Week.’
‘All the Olympians have finalized contracts while the contracts are very explicit,’ Ryan continued. ‘There are laws in it on gambling which bans them from participating in betting on Olympic events and providing inside information to gamblers.’
It’s not known which sports the set bet on.
The Integrity Betting Intelligence System (IBIS), created in 2014 by the IOC, reportedly caught the two Irish Olympic boxers.
IBIS collects and distributes intelligence on sports betting around the global world because it relates to the Olympics. Should it detect an irregular betting pattern or suspicious activity, the IOC is notified.
Police Lineup
The fighting Irish didn’t perform perfectly in Rio. The country won just two medals, both silver, one in rowing and one other in sailing.
Ireland planned to deliver eight boxers to Rio, but only 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 took place before or throughout the actual Olympics. Considering activities gambling is widespread in Ireland and banned in Brazil, one might 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, a market cooperative whose account includes Irish bookmaker Paddy Power.
The IOC’s investigation is ongoing.
‘ What we will do is await the completion regarding the IOC’s investigation . . . then we will be in a position to just take the mandatory action that is disciplinary’ Ryan explained.
Fortune of this Irish?
The weeks following a 2016 Olympics seem like a hangover that is bad the Irish.
Not just are a couple of of these boxers the subjects of a gambling investigation, but OCI President Pat Hickey is still in Rio on charges of improperly selling tickets. Hickey was finally released from a Rio prison on August 30, and remains firm that he committed no violations.
The 71-year-old said in a statement, ‘I will now stay static in Rio and my lawyers will check out have the charges laid against me set aside as there isn’t any substantive evidence of any wrongdoing on my part. I would 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 net 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, and the games are the leading reason the two resorts are seeing their revenues increase in 2016. (Image: Kevin Mingora/Allentown Morning Call)
The two Pocono casinos located in the mountainous Pennsylvania that is northeastern region 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 % through the first six months.
Once again it’s the slots that are tried-and-true for the video gaming winnings increase.
Mohegan Sun reported slots income for initial half the 12 months had been $111 million, a five % increase regarding the same period in 2015. At Mount Airy, slots brought in $71.5 million, a nearly six gain that is percent the resort.
Even though the reliable slots increased their winning ways for gaming operators, tables headed in an opposite direction. Table games decreased 12 per cent at Mohegan Sun to $22.8 million and 5.6 per cent at Mount Airy to $21 million.
