New York Post

ICAHN ROLLS DICE

In talks to sell AC’s shuttered Taj Mahal: sources

- By JOSH KOSMAN jkosman@nypost.com

Carl Icahn is in talks with fellow casino operators about selling control of the recently shuttered Trump Taj Mahal, The Post has learned.

News of the talks surfaced 24 hours after state legislatur­es moved to block any chance the activist investor might have had to reopen the casino with non-union workers.

“He is in dialogue with operators,” a source close to the situation said on Tuesday.

On Monday, the state Assembly voted 60-to-17 to pass a bill that suspends for five years the gaming license of any casino owner who shut down a casino after January 2016 — unless the owner renegotiat­es with the casino workers’ union.

The state Senate already approved the bill. It is not known if Gov. Christie will sign it.

The law, if enacted, would only impact Icahn.

The investor had failed to reach a new contract with the union and on Oct. 10 closed the 26-year-old casino. Icahn hoped shutting the casino would force the union to accept lower wages.

With the new bill set to stymie that effort, Icahn is talking to others about taking over the 167,000-square-foot casino, sources said.

If Icahn sells the Taj Mahal outright, it would seem to sidestep the bill, if enacted, clearing the way for a new owner to reopen the casino with nonunion workers, a second source said.

“The bill is another absurd antic by [New Jersey State Senate President Stephen] Sweeney that will hurt Atlantic City,” Icahn told The Post.

In fact, the bill may be unconstitu­tional, especially since it is retroactiv­e, Icahn said.

If Christie vetoes the bill, there may be enough votes to override it, sources said. The governor has not signaled what he will do with the bill.

Icahn has a long history with the Taj. He was its biggest bondholder when it opened in 1990 and was owned by President-elect Donald Trump.

However, after an on-andoff relationsh­ip with the ca- sino over 26 years, Icahn may be on the verge of walking away.

The feisty investor bought the Taj out of bankruptcy in 2015. Since then, he has lost roughly $200 million on his investment, sources said.

Last summer, the hotel workers’ union was offered a contract that was not as good as the one Icahn offered to the workers at his Atlantic City Tropicana Hotel, sources said.

The union went on strike at the Taj in July. Three months later it was dark.

Bob McDevitt, president of the Taj workers’ union, Unite Here Local 54, told The Post he believes the Taj will reopen.

In June, the union reached a new four-year pact with Caesars Entertainm­ent and Icahn’s Tropicana. Three weeks ago, he also signed a deal with the Borgata.

“We don’t want two or three different standards throughout Atlantic City,” McDevitt said, referring to accepting lower pay at the Taj.

However, he said he is open to speaking and does not want to negotiate through the press.

He said about 40 percent of the 1,000 Taj workers he represente­d in October are presently unemployed.

Icahn declined comment on possible sale talks.

Odds s are growing tha at billionair­e Car rl Icahn, who has bbeen throwing snak ke eyes on his casin no ownership gamb ble in Atlantic City, wwill be getting ou ut of the Taj Mahal.

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