Donald Trump opened the Trump Taj Mahal 26 years ago, proudly boasting that it was the 8th wonder of the world.
Yesterday, the luxurious casino closed its doors for good, making it the 5th casino to close in Atlantic City in an ongoing crisis, mostly due to competition from neighbouring states.
Trump’s friend and fellow billionaire businessman Carl Icahn had been running it.
The closure came as a deal couldn’t be reached between the Taj Mahal and union workers who had lose their healthcare and pension benefits in a bankruptcy case. The closure saw 3000 people employed by the casino lose their jobs, bringing the total number of casino jobs lost in Atlantic City since 2014 to 11,000.
Trump himself took time out from his busy presidential campaign to share his thoughts on the closure, “…they should have been able to reach a deal”, the tycoon and presidential candidate said, “it’s hard to believe they weren’t able to make a deal.”
Ichan decided in August that the $350 million he had lost investing in and running the casino was enough. He had estimated that he would lose another $100 million in the coming year, which was the point at which the decision to close was made.
The closure of the Trump Taj Mahal leaves Atlantic City with 7 casinos still open and operational.