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Trump Taj Mahal casino sold

Profile Photo By: Steve Shellum
March 3, 2017

Trump Taj Mahal casino sold

Atlantic City, New Jersey – 3 March 2017 – 
Billionaire investor Carl Icahn has reached a deal to sell the shuttered Trump Taj Mahal casino in Atlantic City to Hard Rock International and two New Jersey investors.

The sale comes four months after Icahn closed it amid a crippling strike. A sale price was not revealed, Associated Press reported.

Icahn, who also owns Atlantic City’s Tropicana Casino and Resort, said he decided one casino in town is enough. He said in January he had lost about US$300 million owning the Taj Mahal, and would be delighted if he could sell it for half that amount.

“We are extremely happy with our ownership of the Tropicana Casino and Resort, and after considerable analysis and deliberation we determined that we only wanted to own one operating casino property in Atlantic City,” he said. “A sale of the Taj Mahal therefore represents the optimal outcome for us. We wish Hard Rock and its partners the best of luck with the Taj Mahal.”

It remains to be seen what plans Hard Rock has for the facility, although the company has long toyed with the idea of opening a casino resort in Atlantic City.

The sale does not include the shuttered Trump Plaza Hotel and Casino, which closed in 2014. Icahn said he is still trying to sell that property.

 

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