Carl Icahn sold the Trump Taj Mahal to Hard Rock International

Billionaire investor and casino king Carl Icahn has found a buyer for the Trump Taj Mahal Casino in Atlantic City, which has been closed since October 2016. According to an official press release, Icahn will sell the Trump Taj Mahal to Hard Rock International and two investors from New Jersey for unspecified

The Trump Taj Mahal was launched by President Donald Trump back in 1990, who then lost control of the property in a bankruptcy filing. The casino was later saved from separate bankruptcy by Icahn in 2014, but due to a union strike prompted by the loss of pension benefits and health care for casino workers, Icahn filled a petition to close the casino in September 2016 and officially closed it one month later.

Commenting on the sale, Icahn, who also owns Tropicana Casino and Resort, told the press on Wednesday that his company is “very happy” with Tropicana and has decided, after thorough deliberation, that they only want to have one casino in town. Icahn also stated in a separate interview in January that he lost about $ 300 million from the Taj Mahal and would be happy if the casino could be sold for half of the loss.

Mayor Don Guardian also commented on the sale, saying he was happy with it and that seeing professional investors like the Hard Rock group invest in casinos would give new life to it from the coast. He also added that this is a great time to invest in Atlantic City and return thousands of jobs to residents, but also people from South Jersey.

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