ATLANTIC CITY, NJ—A somewhat raucous, but peaceful protest byapproximately 500 members of the UNITE HERE Local54 was staged in front of the Taj Mahalcasino on Friday over plans by owner TrumpEntertainment and investor Carl Icahn totake away their health care and pension benefits.

A federal nullified the Taj union contract earlier this month,stripping away company-paid health care and replacing pension planswith 401(k)s. That ruling would save Icahn about $14.8 million,according to The Inquirer.

Icahn has threatened to shut down the Taj Mahal if he does notobtain concessions from Local 54 as well as $175 million in stateaid and other tax breaks. If those key elements are secured, Icahnhas said he would invest approximately $100 million into the TajMahal.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.