March 29, 2015 |
Trump Entertainment Resorts supports development of a Stockton University campus in Atlantic City - just not next door to the Trump Taj Mahal, the company said Friday. Stockton announced this week that Trump was threatening to invoke a 1988 legal covenant that would block use of the Showboat casino property as anything other than a first-class casino-hotel. The university bought the shuttered casino for $18 million to create an "island campus" for thousands of students, along with reopening a hotel on the site.
December 7, 2014 |
The Trump Taj Mahal in Atlantic City is likely to remain open until Dec. 20, as its parent company continues to negotiate for financial aid from the city or the State of New Jersey, the bankrupt Trump Entertainment Resorts said Friday. However, some employees already started working fewer hours this week, Kathleen McSweeney, senior vice president of market operations for Trump Entertainment, said in a statement. The Taj Mahal closed one of its hotel towers Monday, and at that point still planned to close the casino next Friday, according to a Nov. 26 petition on its closing plans filed with the New Jersey Division of Gaming Enforcement.
November 20, 2014 |
ATLANTIC CITY - Vera Coking famously refused to sell to Donald Trump. But in the end, she sold to Carl Icahn. Property records in Atlantic County show that Coking's famous but now-vacant white house, in the shadow of the famous but now-shuttered Trump Plaza, is now owned by IEH Enterprises - Icahn. The house at 127 S. Columbia Place was sold at auction in August for $583,000. At the time, Atlantic City lawyer Pat Agnellini said he was the bidder on site - and on the phone - who walked away with the winning bid. Agnellini declined to say at the time whom he represented other than himself, or what the plans were for the property.
October 19, 2014 |
A federal bankruptcy judge on Friday allowed the owners of Atlantic City's bankrupt Trump Taj Mahal Casino Resort to void its contract with its 1,100 union workers. Whether the $15 million in savings will be enough to keep the doors of the troubled casino open is nowhere near a sure bet. In a decision delivered in a Delaware courtroom, Judge Kevin Gross granted a request by the casino's owners, Trump Entertainment Resorts, to end the contract, cutting health and pension benefits.
October 1, 2014 |
A bid in bankruptcy court to set aside a labor contract for 1,136 employees at Atlantic City's Trump Taj Mahal casino has set up a pitched battle between Unite Here Local 54 and Carl Icahn. Icahn, a billionaire investor known for taking control of financially distressed businesses by buying debt at a discount, controls the fate of Trump Entertainment Resorts because he owns $286 million in first-lien debt and stands first in line to be paid in any bankruptcy deal. As a condition of keeping Trump Taj Mahal open, Icahn wants massive concessions from labor and government.
August 8, 2014 |
K IM KARDASHIAN and Kanye West are finally planning to move out of Kris Jenner 's house. But they're not going far. Don't want to be lugging that reality TV-show equipment all around Cali. TMZ.com reports that the couple of Ks are in escrow for an estate once owned by Lisa Marie Presley only five minutes from their current Calabasas residence. Purchase price was $20 million, a million below the listing. E! News says that the 3 1/2 acre love shack has two pools, two spas, two barbecue centers and its very own vineyard so the pair can get plastered on their own vino and never have to socialize with each other.
April 22, 2013 |
ATLANTIC CITY - The California development company that plans to buy Atlantic City's Trump Plaza Hotel & Casino for $20 million says the deal is on hold. In a statement issued late Friday, the Meruelo Group said the sale could not currently be completed as planned because Trump Entertainment had been unable to obtain the release of a mortgage held by a "senior secured lender. " When the deal was announced in February, Meruelo said it hoped to close the sale by May 31 The Press of Atlantic City said Trump spokesman Brian Cahill confirmed Meruelo's statement but had no further comment.
November 15, 2012 |
ATLANTIC CITY - This resort's casinos are struggling to deal with the aftermath of Sandy by laying off workers, cutting the hours of others, and making still others take unpaid leaves. The storm forced the city's 12 casinos to close for five to seven days. Since then, business has been slower than normal. The Atlantic Club has turned to layoffs to offset the downturn. The two Trump casinos are making salaried workers take a week off without pay and are barring hourly workers from using vacation days to cover time off during the storm.
November 3, 2012 |
Gov. Chris Christie this morning allowed Atlantic City's casinos be reopened to the public, six days after his executive order declaring them closed in preparation for Hurricane Sandy's arrival. Christie ordered gaming suspended on Saturday. He said they could reopen starting 10 a.m. today. Sandy officially came ashore in Atlantic City 8 p.m. Monday night and was severely impacted by the storm, with part of the the boardwalk being washed away in the northern end. Christie had suspended operations at all 12 casinos, which forced closure of all the hotels, simulcast facilities and gaming.
September 25, 2012
Frederick T. Cunningham, 59, vice president of legal affairs for Trump Entertainment Resorts, died Thursday, Sept. 20, after suffering a heart attack on his way home to Haddon Heights from Atlantic City. Mr. Cunningham also served as secretary of the New Jersey Bar Association's Casino Law Section. He grew up in Levittown, Bucks County, as well as Levittown, Long Island, and graduated from the State University of New York in Brockport in 1974. Mr. Cunningham met his wife, Joanne, while working in the claims department at Colonial Penn Insurance Co. After marrying and starting a family, he studied law at night at Rutgers University Law School in Camden, from which he received his degree in 1986.