ATLANTIC CITY, NJ—The ownership of the Trump Taj Mahal could decide as soon as next Monday to close without needed concessions from Local 54 of UNITE HERE, representatives of Trump Entertainment Resorts told a federal bankruptcy court judge on Tuesday.

“We need it to keep Atlantic City alive,” Trump Entertainment Resorts attorney Kristopher Hansen said, urging Bankruptcy Court Judge Kevin Gross to forcibly break the union contract. “Unfortunately we have an unwilling counter-party.”

Trump Entertainment says it has to cut costs by $14.6 million annually to have a chance at keeping Trump Taj Mahal open, according to the Press of Atlantic City.

The casino is also looking to have the state provide approximately $175 million in state incentives and approve a payment in lieu of taxation proposal. The Trump Taj Mahal and Trump Plaza owe investor Carl Ichan $286 million. Ichan has pledged to invest $100 million and would convert some casino debt to equity, depending on the union concessions.

The union has fought Trump Entertainment's cost cutting proposals. In addition, State Senate President Stephen Sweeney said at a recent rally, “You'll get nothing from us until you treat workers with respect and dignity.” Also, Atlantic City Mayor Don Guardian says he is against the casino's proposal to cut its assessment by almost 80%. See story in the Press of Atlantic City.