During the Trump Taj Mahal, the latest providing bid from casino union Unite right Here Local 54 to owner Carl Icahn has fallen on deaf ears in Atlantic City.
Bartenders, wait staff, cooks, housekeeping, along with other service workers walked off the job on July 1, demanding higher hourly wages and the renovation of health and pension benefits that disappeared through 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 a new offer from the local workers union striking during the resort.
Icahn, whom took control of the property in March by acquiring the majority of its $286 million with debt, shunned the union’s offer, saying he required more time before reinstating benefits. After days of divisive picketing and a back-and-forth shouting match between union leaders and Icahn management, the billionaire decided to take a $100 million loss now intends to permanently close the casino on October 10.
Unite Here saw the move as a bluff, and returned to the board that is drawing. This week the union presented a proposal that is new will reportedly only price Icahn $1.3 million significantly more than their previous offer. But Icahn will perhaps not budge.
‘[Union president] Bob McDevitt therefore the Taj bargaining committee have no someone to blame but by themselves for this sad result,’ Tropicana President Tony Rodio told the Associated Press. Rodio is overseeing the Taj’s closing for Icahn, and also the Tropicana is also under Icahn’s ownership.
‘If McDevitt cared even one iota concerning the future of the employees he would have allowed them to vote on the proposal we offered five weeks hence based on his tips, which we believe may have saved the Taj,’ Rodio concluded.
The 20 Percent
With a fortune estimated to be worth $16 billion, Icahn is certainly one of the wealthiest individuals on earth. The union in Atlantic City believes he reached that level by searching for himself first and most important.
‘Carl Icahn has had hundreds of millions of dollars out of Atlantic town,’ McDevitt said this month. ‘It has been nothing but the usual ‘my method or the highway’ from Carl Icahn. That is not trying to reach a contract; that’s punishing people that are working standing up to injustice.’
It is the latest chapter in what’s been a trying saga in Atlantic City.
A new report from Stockton University claims one in pokies aristocrat free dolphin treasure slots five casino jobs, or about 20 percent, not any longer exist in the beachside resort. The Unite Here Local 54 strike is for around 1,000 workers during the Trump Taj, but if Icahn does certainly close the resort that is entire a total of 3,000 jobs will be gone.
Online Trumping Brick-and-Mortar
The Trump Plaza, Revel, Showboat, and Atlantic Club all shut in 2014. The remaining eight casinos managed to weather the storm over the last 24 months, with a few analysts calling the loss ‘right-sizing.’
The majority of the gamblers’ bankrolls will be wagered during the three Marina District resorts, and another perhaps more surprising place: on the web.
Gambling in nj is up 1.5 % in 2016 through the very first six months, but brick-and-mortar revenue is up only 0.6 percent. The huge difference arises from online casinos surging 31.7 per cent through June.
The alleged ‘ninth casino’ pulled in nearly $95 million, more than land-based Resorts ($79.7 million) while the Taj Mahal ($85.2 million). Plus the overhead of a casino that is online miniscule when put next to its land-based counterparts.
While that’s good for the gaming operators, it is bad for casino employees looking for work. And for now, it looks like a few thousand of those workers may be dealing with the holiday season without a constant paycheck.
GAN Suggests It’s Working With A united states Gambling Company on Non-US Online Casino
Dermot Smurfit has landed another investment from billionaire Dermot Desmond, and the GAN CEO says more promising news is regarding the way should a possible deal having a major casino in america become finalized. (Image: businesspost.ie)
The uk’s GAN, formerly GameAccount Network, hinted to the public this week it’s using a major gambling company in the United States on developing an oversees on-line casino. GAN CEO Dermot Smurfit said he hopes to create an official announcement on the news before the entire year comes to an end.
But for the time being, he wouldn’t reveal which gambling company GAN ended up being in talks with.
On line gambling remains unlawful in 47 of the 50 states. While there’s technically nothing that prevents a casino that is american-based partnering having a business abroad to offer games where it is legal, the main operators have prevented doing so.
Erring in the side of caution is a good move when 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 deal with the US that is unidentified gaming undergoes, GAN would provide you with the pc software and technology and the casino company would just wrap the internet site using its branding.
GAN is really a business-to-business turnkey gaming systems supplier and one for the interactive casino software companies that are largest in the planet.
Smurfit says online gaming is regulated in countries that account for nearly 30 % of the earth’s population.
‘ This will be a big move that is strategic us,’ Smurfit told the Irish occasions. ‘The market hasn’t yet seen A us that is major land enter online in Europe.’
GAN supplies online games for Borgata in Atlantic City and simulated gaming for numerous casinos Foxwoods that is including Live, and Parx.
There’s a laundry list of potential suitors that might be revealed because the mystery celebration.
Though it’s complete speculation, it’s essential never to overlook the Seminole Tribe in Florida. Currently engulfed in a battle that is compact state lawmakers, the Seminoles own two Hard Rock casinos into the Sunshine State and own the Hard Rock Café chain.
London has a rough Rock Café, as does Manchester. Native American groups would be less worried about appeasing federal regulators because they reside on sovereign land.
But again, GAN and Smurfit didn’t provide any specifics on the united states company. The actual only real strong bet is that it is not Sheldon Adelson’s Las Vegas Sands.
Significant Casino, Major Investor
Along with the big news that GAN might be teaming with A us operator, Smurfit’s media conference last week was to reveal that billionaire Dermot Desmond was further investing into the company. For $1.7 million, Desmond is purchasing 3.25 million shares that are new.
The buy is significant for GAN and Smurfit. Desmond, A irish businessman and banker, first invested in GAN just two years after the company was founded.
‘Dermot Desmond is the reason why my loved ones members spent,’ Smurfit told the Irish Independent. ‘It ended up being Dermot Desmond’s 2004 investment in that which was then called Game Account . . . that triggered my family’s interest because Dermot quite definitely validated what it had been we had been trying to build.’
Smurfit comes from an affluent household. His father had been a chief executive at Powerflute Oyj, a Finland paper and packaging group, and currently functions as president of the European Corrugated Packaging Association in Brussels.
Smurfit is gambling on Desmond snagging up a larger stake in GAN as well as the company’s teasing of a potential online that is new coming to Europe to bring yet additional investors to the company.
Nonetheless, shares of GAN dropped 0.94 % on Tuesday (the London Stock market was closed Monday).
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, but the suspects’ identities are 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 fees are proven, the athletes that are unidentified face serious disciplinary sanctions from both the International Olympic Committee (IOC) therefore the Olympic Council of Ireland (OCI).
Pat Ryan, the president regarding the Irish Amateur Boxing Association (IABA), says there isn’t any conceivable method the duo gambled without once you understand these were in breach of participation agreements they finalized ahead of the Games.
‘They have all attended seminars that are numerous. They have been fully informed of the contract’s content,’ Ryan stated on RTÉ’s ‘This Week.’
‘All the Olympians have signed agreements plus the contracts are very explicit,’ Ryan continued. ‘There are regulations in it on gambling which bans them from participating in wagering on Olympic events and providing inside information to gamblers.’
It’s not known which sports the pair bet on.
The Integrity Betting Intelligence System (IBIS), established in 2014 by the IOC, reportedly caught the two Irish Olympic boxers.
IBIS collects and distributes intelligence on sports betting around the world because it pertains to the Olympics. Should it detect a betting that is irregular or suspicious activity, the IOC is notified.
The Irish that is fighting did perform perfectly in Rio. The united states won just two medals, both silver, one in rowing and the other in sailing.
Ireland planned to deliver eight boxers to Rio, but only seven made the trip after Michael O’Reilly had been expelled from the Games for failing a drug test.
The seven athletes who competed were:
It’s not clear whether the alleged gambling happened before or throughout the actual Olympics. Considering recreations betting 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 membership includes bookmaker that is irish Power.
The IOC’s investigation is ongoing.
‘ What we shall do is await the conclusion of the IOC’s investigation . . . then we will be able to simply take the required disciplinary action,’ Ryan explained.
Fortune for the Irish?
The weeks following 2016 Olympics appear to be a bad hangover for the Irish.
Not only are a couple of of the boxers the subjects of a gambling investigation, but OCI President Pat Hickey remains in Rio on charges of improperly tickets that are selling. 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 remain in Rio and my attorneys will check out have the charges laid against me personally reserve as there is absolutely no proof that is substantive of wrongdoing on my part. I’d like to thank the prison authorities for their kindness they demonstrate to me.’
Ireland’s scandalous Olympics wasn’t its 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 casinos have done a job that is tremendous their slot machines occupied, and also the games are the key reason the two resorts are seeing their profits escalation in 2016. (Image: Kevin Mingora/Allentown Morning Call)
The two Pocono casinos located in the mountainous northeastern Pennsylvania region are posting higher total revenues across their gambling floors in 2016. Mohegan Sun Pocono and Mount Airy Casino Resort are correspondingly up 1.62 percent and 2.87 % through the first six months.
Again oahu is the slots that are tried-and-true for the video gaming win increase.
Mohegan Sun reported slots revenue for the very first half the year had been $111 million, a five percent enhance on the same period in 2015. At Mount Airy, slots brought in $71.5 million, a nearly six per cent gain for the resort.
As the reliable slots increased their winning ways for gaming operators, tables headed in a direction that is opposite. Table games reduced 12 percent at Mohegan Sun to $22.8 million and 5.6 % at Mount Airy to $21 million.