- Burned out lights can be seen as a woman passes Trump Plaza Hotel & Casino on the boardwalk Sept. 16, 2014, in Atlantic City, N.J.
- Associated Press
Carl Icahn holds all the cards at the Trump casinos in Atlantic City, and the question is, will he hold ‘em or will he fold ‘em?
As a secured lender who’s owed $285 million plus interest, he’s in a prime position in the Trump Entertainment Resorts Inc. Chapter 11 case, which began Tuesday and is speeding toward a possible shutdown of the two casinos on the Atlantic City Boardwalk still bearing the name of rival billionaire Donald J. Trump.
Trump Plaza closed Tuesday, but there’s a chance Trump Taj Mahal, the larger and more successful of the two, can be saved. Court papers pin that hope on concessions from Unite Here Local 54, the union that represents thousands of Atlantic City casino workers.
Union chief Bob McDevitt said the Taj Mahal negotiating committee looks forward to talking to the new owners, but voted a unanimous “no” to cuts asked by current management.