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Atlantic City’s Trump Taj Mahal Casino to Close

Atlantic City’s Trump Taj Mahal Casino to Close

The Trump Taj Mahal Casino in Atlantic City is to close down after suffering years of losses and a lengthy strike by employees over benefits.

The closure will mean the loss of 3,000 jobs in addition to the 8,000 workers who were laid off in 2014 when four of Atlantic City’s other casinos closed. As a result there will now be just seven casinos in Atlantic City. The Trump Taj Mahal was opened 26 years ago by the Republican presidential candidate Donald Trump.

However, the casino was taken over by Carl Icahn in 2009 who has said that since then he has lost nearly $100 million on the Taj Mahal. Its employees have been on strike since 1st July and on Thursday this will become the longest strike in the city’s 38 year casino era.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.