Carl Icahn takes ownership of Trump Entertainment Resorts, Taj Mahal

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Notorious corporate raider Carl Icahn pulls Trump Taj Mahal out of Chapter 11 bankruptcy by purchasing Trump Entertainment Resorts and making it a subsidiary of Icahn Enterprises.

Icahn already tried saving the Taj Mahal once, in 2014, by committing $20 million in financing just before the casino was scheduled to close its doors.

While the casino remains “Trump Taj Mahal,” Donald Trump loses his 10% stake in the property.

Carl Icahn is known for buying companies and running them to the ground. Guess what happens to Trump Taj Mahal.

Source

https://njbiz.com/icahn-takes-over-trump-entertainment-resorts-which-operates-taj-mahal/

Photo: CNBC—NBCU Photo Bank via Getty Images, TIME

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