On the heels of a judge voiding its union contract, Trump
Entertainment has decided to keep the casino open throughout November — meaning
3,100 people will keep their jobs, at least for now. Here's more from the
Associated Press who broke the story:
"As of now
we don't have any plan to close the Taj, but that could change next
month," Robert Griffin, CEO of Trump Entertainment, told The Associated
Press. "We still need our plan to be approved, and we need assistance from
the state with no assurance we're going to get it.
"We can't
say we're not going to close the Taj before the end of the year," Griffin
said. "But we can say it won't close in November."
The reason for making the announcement wasn't to ease
employees' minds about whether or not they'll have a job at the end of the
month, but instead to ensure customers that a Culture Club concert scheduled
for Nov. 28 will happen as planned, the AP reported.
A federal bankruptcy judge voided the casino's union
contract on Friday with Local 54 of the Unite-HERE union. That means the casino
has emerged victorious on two high-priced sticking points — health care and
pensions.
But analysts say that the voided contract still isn't
enough to save the troubled resort.
"Will Trump Taj Mahal survive? No. They need an
investment and they need to turn things around," Alan Woinski, chief
executive of Gaming USA Corp. in Paramus, N.J., told PBJ.com last week.
"They were down 20 percent last month, so this doesn't guarantee success
but it helps … They definitely need the investment by Carl Icahn and get rid of
everybody who runs that company."
The casino is hoping that Ichan will take control and
pump $100 million into the facility.
Source: Philadelphia
Business Journal
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