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Taj Mahal emerges from bankruptcy
Friday saw the Trump Taj Mahal Casino in Atlantic City come out of bankruptcy thanks to billionaire investor, Carl Icahn's Icahn Enterprises LP. The property had been in Chapter 11 and Icahn's buyout of the deb...
Bankruptcy
Taj Mahal takeover could be sidetracked based on Local 54 appeal
If the U.S. Supreme Court is asked by a union to review a case over pension and health benefits rescinded from casino workers, plans for the Trump Taj Mahal to rise from the depths of bankruptcy under new owner...
State takeover of Atlantic City finances proposed by Governor Chris Christie
Atlantic City has been struggling for some time now, with four casinos closing in 2014 and officials of the state trying to determine how to bring the gambling town back to its former glory - or at least save i...
Tinian Dynasty’s petition for bankruptcy dismissed by U.S. Court
On January 14 the bankruptcy petition filed by Hong Kong Entertainment Investments Ltd, owner of the Tinian Dynasty Hotel & Casino, was granted dismissal and all other pending motions filed in the case rend...
Judge slams Caesars’ attempt to hide 7 million page investigation; Redacted report to be released by end of Feb
Caesars Entertainment Operating Company, Inc. is looking to cut its debt load of more than $18 billion roughly in half through a Chapter 11 bankruptcy filing. In March 2015 Judge A. Benjamin Goldgar of the U.S....
Atlantic City casino aid package rejected again by Christie
A financial assistance package considered essential to help stabilize Atlantic City’s struggling casino market has once again been rejected via “pocket veto” by New Jersey Governor Chris Christie. The measures ...
Appeals court rules in favor of Trump Taj Mahal in worker benefits case
On Friday, an appeals court of Atlantic City ruled in favor of the Trump Taj Mahal Casino, stating the casino was within their legal right to end the pension and health insurance benefits for employees. With th...
Atlantic City following Detroit into fiscal demise? State could take over city
It has been close to five years that efforts to right the listing boat of Atlantic City have gone without success. Soon voters will decide whether to allow gaming outside the city, bankruptcy may become an opti...
Financing woes; Closed Atlantic Club casino back on the market
The Atlantic Club was the first of four casinos top close-up shop in Atlantic City in 2014 and now plans to turn the property into a water park and recreation center have been put on hold, perhaps permanently. ...
Caesars Entertainment Corp case with bondholders to go to trial
Bondholders’ involved in a case against Caesars Entertainment Corp lost the opportunity for an early resolution in a lawsuit after a United States District Judge ruled in the casino’s favor. The case will go to...
Caesars wins a chance to save parent company from bankruptcy
Caesars Entertainment is teetering on a fall into bankruptcy with every court decision shifting the balance toward demise or recovery. Last week a Chicago appeals court returned the issue to bankruptcy court wh...
Tinian mayor eager to see Tinian Dynasty reopen
Despite filing bankruptcy earlier this month and repeatedly violating the Fair Labor Standards Act, Tinian Mayor Joey Patrick San Nicolas is hopeful that the Tinian Dynasty Hotel & Casino will open once aga...
Omnibus spending bill kept $1 billion in tax breaks, preserved casino REITs
On December 18 the House and Senate passed a $1.1 trillion omnibus tax & spending bill that averted a shutdown of the US government. President Obama signed it into law the same day. Included in the bill wer...
US federal court issues entry of default vs $2.5m of still-shuttered Tinian Dynasty Casino
Last Friday, Assistant U.S. attorney Russell H. Lorfing requested that the U.S. District Court for the NMI issue a default judgement against Tinian Dynasty as they had failed to contest a forfeiture action on ...
Tinian Dynasty owner files for bankruptcy, plans to reopen
A week ago it was announced and confirmed that Tinian Dynasty Casino in the Commonwealth of Northern Mariana Islands (CMNI) had applied for permission to reopen today and it had been granted contingent upon con...