Winners and Losers in Sale of Former Trump Taj Mahal Casino

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Posted at 12:52 PM, Mar 03, 2017
and last updated 2017-03-03 12:52:00-05

ATLANTIC CITY, N.J. (AP) - The sale of Trump Taj Mahal casino to Hard Rock International has left some winners and losers in Atlantic City.

The winners included a union whose members were willing to lose their own jobs to stand up to Taj owner and billionaire investor Carl Icahn. And, a Native American tribe that had been toying with the idea of expanding its gambling operations to New Jersey will finally get to the Jersey shore.

The losers in the deal could include competing casinos that are just beginning to see the benefits of a slimmed-down gambling market in the resort town. Icahn, too, because he took a large loss on his ownership of the casino.

On Wednesday, Icahn sold the Boardwalk casino that was opened by President Donald Trump in 1990 to the Florida-based Hard Rock. The sale came four months after Icahn shut it down amid a crippling strike.

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