Trump Taj Mahal Sold For Pennies on the Dollar

Donald Trump ascends the stairs with his fist raised after the opening of the Trump Taj Mahal Casino Resort in Atlantic City, N.J. on April 5, 1990.

Donald Trump ascends the stairs with his fist raised after the opening of the Trump Taj Mahal Casino Resort in Atlantic City, N.J. on April 5, 1990.

When Carl Icahn announced his wish to sell Atlantic City’s Trump Taj Mahal back in February, Hard Rock International swooped in a month later to divest the billionaire of the shuttered casino. And now, the price of the deal has been revealed.

According to documents filed with the SEC, Icahn got just $50 million for the property, which President Trump built for $1.2 billion in 1990, the AP reports.

When Trump opened up the casino nearly 30 years ago, he called it the “eighth wonder of the world,” and the grand opening even featured an appearance by Michael Jackson who got an exclusive Trump-led tour of the space. About 75,000 spectators were also present to witness the opening of the 4.2 million square feet casino that housed crystal chandeliers worth $15 million, suites that went for $10,000 a day, 3,000 slot machines and 167 gaming tables that could accommodate 17,000 players. Read more »

Behind the Line: Michael Symon, the Borgata’s Newest Chef

Wearing his signature hat, Michael Symon works the slicer at Angeline at the Borgata. (Photo by Michael Persico)

Wearing his signature hat, Michael Symon works the slicer at Angeline at the Borgata. (Photo by Michael Persico)

On Saturday, restaurateur and The Chew co-host Michael Symon joins Bobby Flay, Gordon Ramsay, Wolfgang Puck, and Guy Fieri in Atlantic City’s roster of “celebrity chefs” when he debuts Angeline at the Borgata. Here, the Iron Chef and James Beard winner tells us why Philly is so great and why he really wishes we wouldn’t call him a celebrity chef. Read more »

New A.C. Master Plan Loosens Up Longtime Zoning Restrictions

This week the Casino Reinvestment Development Authority, the body that controls Atlantic City’s Tourism District, gave the green light on changes to the city’s master plan that will unwind some longstanding zoning restrictions.

The board says it approved the amendments to do away with some barriers to development and over the next year will develop more land-use ordinances to attract new businesses, according to the Press of Atlantic City.

Under the amendment, vacant land in the southeastern inlet near the former Revel casino will be turned from exclusively casino commercial to mixed-used residential. But there’s still a minimum density zoning requirement in place, according to the Inquirer, which will prevent people from buying the land to build beach houses, for example.

The revised plan also deems Kentucky Avenue an entertainment district and the Ducktown section of the city as an arts district. Areas around the Atlantic City Expressway and its waterfront have been labeled as spots for potential retail development.

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Shuttered A.C. Casino to Reopen as Indoor Water Park

An aerial view of the beach and casinos in Atlantic City.

Aerial View of Atlantic City. Photo | Wikimedia Commons.

Building on a chain of recent deals in Atlantic City, Ventnor-based R&R Development Group announced on Monday that it has entered into an agreement to purchase the shuttered Atlantic Club, which they won’t reopen as a casino. Instead, the group has plans to open “Dolphin Village at Atlantic Club,” a non-gambling family resort complete with an indoor water park.

Atlantic Club has been non-operational since 2014, and the plans want to breathe life into the space. The remodeled space will include a hotel — they hope to have 300 rooms open by the fall, according to the Press of Atlantic City — restaurants and a large arcade. The casino floor will also be turned into a go-cart track.  Read more »

Hard Rock to Buy Trump Taj, Plans Casino Opening in 2018

The Trump Taj Mahal entrance

Photo | Dan McQuade

There will be a new casino on the Atlantic City boardwalk next year.

Yesterday the Hard Rock struck a deal with Carl Icahn to buy the shuttered Trump Taj Mahal. The planned $300 million purchase and casino renovation will bring a new casino to Atlantic City in 2018.

“All the pieces are coming back together, one by one,” Atlantic City Mayor Don Guardian said. “Now is the time to invest in our great city. The price is right.” Read more »

You Could Now Get a $500 Fine for Releasing a Balloon in Atlantic City

Atlantic City doesn’t mess around.

You might already know not to feed seagulls in the Jersey Shore town – unless you want to end up in jail. As of last summer, beachgoers who feed seagulls in Atlantic City could face a $500 fine and up to 90 days in prison.

This week, the city passed a law that cracks down on people who release balloons into the sky, according to the Press of Atlantic CityRead more »

Jose Garces is Opening Three Restaurants at the Tropicana in Atlantic City

tropicana-bw

Atlantic City is apparently collecting Iron Chefs. With Bobby Flay, Wolfgang Puck and Geoffrey Zakarian already there and Michael Symon opening Angeline at the Borgata sometime in the next few months, the city is well on its way to a full house (see what I did there?).

But now, with opening dates set for the three completely new operations from the Garces Group that we told you about last year, they’re flush with ’em. And Jose Garces is even going to sneak in ahead of Symon because he’s got opening dates set for all three locations (all of which are going into re-done spaces at the Tropicana) in the first week of March.

So, yeah. Really soon. Here’s what we know.

Read more »

President Trump’s Name Removed From Taj Mahal Casino

Donald Trump ascends the stairs with his fist raised after the opening of the Trump Taj Mahal Casino Resort in Atlantic City, N.J. on April 5, 1990.

Donald Trump ascends the stairs with his fist raised after the opening of the Trump Taj Mahal Casino Resort in Atlantic City, N.J. on April 5, 1990.

President Donald Trump’s presence in Atlantic City legacy grows ever fainter with the removal of the Trump name from all sides of the Taj Mahal casino. But this isn’t a Trump boycott — in fact, it was Trump Entertainment’s choice.

On Wednesday morning, the Press of Atlantic City reported that the “Trump” has been removed from the boardwalk entrance to the casino resort, but his name is still featured at the front entrance of the casino and on the hotel tower. But, according to the Inquirer, those will be gone soon, too. Workers at the casino on Wednesday determined they’d get rid of 17 by next week, including the ones at the very top of the tower. Read more »

Icahn Says He’ll Sell Trump Taj Mahal

Trump Taj Mahal in Atlantic City

Photo | Dan McQuade

Billionaire investor Carl Icahn wants to wash his hands of the Trump Taj Mahal casino in Atlantic City.

On Monday, he announced plans to sell the shuttered casino resort. In a statement on his website, the special adviser to President Trump — the casino’s former owner — says he won’t invest the $100 to $200 million the casino needs to reboot.

Why this decision? Icahn is pointing the finger at a New Jersey bill and its sponsor — state Senate president Steve Sweeney. The bill, which has now been vetoed by Gov. Chris Christie, would have penalized Icahn by divesting him of his casino license for five years. Read more »

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