Atlantic City’s iconic Trump Taj Mahal casino is reportedly going to keep the Trump name. A settlement reached in bankruptcy court would see the only surviving Trump casino in Atlantic City continues to operate. It is operating under the name of its founder, but with conditions attached.
Donald J. Trump and his daughter, Ivanka, agreed to drop the lawsuit to re-claim their brand from the Taj Mahal, according to The Wall Street Journal. The casino company launched by Donald Trump and operated by him until his resignation in 2009, lost an early round in the court battle to retain the valuable Trump brand. Trump Entertainment Resorts said in court that the Trump name is “iconic” and “an invaluable asset and point of differentiation of the company.”
The Wall Street Journal reports that the Trump Taj Mahal can retain the Trump name so long as it is in continuous operation as a casino. In the event that it should cease to operate, the Trump name will be struck from the casino resort. This is one of the most well-known casino and most played. You should consider trying it out and see if you may enjoy the games. Players can play games such as blackjack, poker, roulette and much more. Go ahead and try it lady luck may be on your side.
Trump Taj Mahal
The casino is being acquired by investor Carl Icahn, who has reportedly paid $20 million to keep it going through bankruptcy proceedings. CNBC quoted Donald Trump’s statement on the choice, “I am happy to have reached a deal with Carl, someone who I have great respect for both personally and professionally. The Trump Taj Mahal, under the right leadership and with the proposed significant reinvestment in the property. It can be, once again, a wonderful place for travel and entertainment.”
The Trumps have argued that Trump Entertainment allowed its two Atlantic City casinos to fall into disrepair and that was harming the Trump brand. Donald Trump has repeatedly made efforts to distance himself from Trump Entertainment, saying repeatedly that he has had no involvement. This is in the operation of those casinos in at least six years. He does, however, maintain a ten percent stake. This deal would ensure that the Trumps still has some control by allowing them to see the hotel. It is also to ensure that it is brought up to their standards. However, the Trump name has been struck from the shuttered Trump Plaza casino which closed in September of 2014.
CNBC reported that “Ichan is acquiring Trump Entertainment by swapping its debt that he owns in return for ownership of the company.” The agreement does first have to be approved by a federal bankruptcy court judge in Delaware.