It's official: Goodbye Taj

[DaBurglar]

I was checking my Trump Taj account  and seeing what the latest on the website display was, as well as possibly booking a short 2 night stay to quickly burn through the last comps and slot dollar offers I have, when THIS notice appeared on the website plastered prominently so you cannot miss it ( I will attempt to link it here so everyone just click to see it....)http://www.trumptaj.com/The notice says "the Taj PLANS to close", and uses the wording "If they close" early on in the memo/notice, so I called a friend in AC who works for Resorts and he said it is 90% certain they will shutter.....the south jersey politicians are too frightened of the UNION to acquiesce to the demands of Trump management/Carl Icahn.   The remaining Union workers in AC at places like Borgata and the CET properties and Resorts still retain enough sway and influence over the UNION as a whole to cause this to happen.....Some city and state politicians ARE willing to deal and come up with a compromise, but apparently it is not enough.The next bes thop eis, sometime between Now and April, before the busy season beings again for what is left of AC, existing Trump management and Mr Icahn can perhaps structure and put together a new business plan, exclude the Union (like Icahn did with the Tropicana -AC which is now doing ok) and reopen the TAJ.I am going to try and spend 2 nights at the TAJ Thursday and Friday (11/20-21)

[OTABILL]

I posted an article under Favorite Casinos that is relevant to AC and the Taj.

[DaBurglar]

I posted an article under Favorite Casinos that is relevant to AC and the Taj. I saw it, just read it and responded.......I will be utilizing (and citing) that article extensively since it is truly a comprehensive and incisive document that describes the overall issue at hand, and the many Sub-issues that permeate the discussion/debate.     Thanks a million for your posting the article.

[BillyJoe]

It is never nice to see a business close, but the casinos in AC remind me of Lola from Barry Manilow's "Copa Cabana"...

"..in the dress she used to wear, faded feathers in her hair."

[alpax]

There is a direct link to the letter

http://www.trumptaj.com/d/trumptaj/media/TajMessage.pdf

In general I never thought it was possible for casinos to shutdown 10 years ago, now it is not surprising.

[chattycattty]

Just saw on another forum where Brookfield is backing out of the deal to buy Revel. More bad news for Atlantic City.

And in an unrelated subject CET is going to try to convert their main entity into a REIT.

[BillyJoe]

And in an unrelated subject CET is going to try to convert their main entity into a REIT.
Gary Loveman has been trying to make CET's debt look more 'palatable' on the balance sheet. He has taken several steps, such as carving out separate business entities within CET, to try and accomplish this. This latest move does not surprise me.

For me, as a 7Star CET player, when my 'perks' disappear, so will I.

[JWF]

It seems as if the Taj is holding all the cards (so to speak...) I'm hoping against hope that someone eventually blinks and they come to terms. Probably not going to happen, though. If they are comparing you to Joe Stalin, it's probably too late.

[Lucky Larry]

[QUOTE=chattycattty]
And in an unrelated subject CET is going to try to convert their main entity into a REIT.
Gary Loveman has been trying to make CET's debt look more 'palatable' on the balance sheet. He has taken several steps, such as carving out separate business entities within CET, to try and accomplish this. This latest move does not surprise me.

For me, as a 7Star CET player, when my 'perks' disappear, so will I. [/QUOTE]

CET took on a lot debt buying out the competition. Big dogs will most likely get their $ while investors are left holding the "bag". Besides they can get even more fools to invest through a REIT and even more tax deductions using the REIT.