Trump Plaza in Atlantic City Nearly Unsellable Due to Lease Agreement

We are excited to be part of this revitalization of Atlantic City, Hard Rock International Chairman Jim Allen said in a statement. We are 100 percent convinced Hard Rock Hotel Casino will be a success.

The addition of the former Taj brings Hard Rock s total casinos to 11. The company has gambling interests in Nevada, Florida, Ohio, Mississippi, Utah, Iowa, Oklahoma, Canada, Dominican Republic, and now New Jersey.

Not Icahn s Best Performance

Some believe betting on a casino is a no brainer, an investment that basically comes with easy money. Last summer, asked, How can anyone lose money running a casino?

Carl Icahn can, and he s been one of the best investors over the last several decades. Worth an estimated $17 billion, the takeover specialist has made a fortune off targeting bankrupt companies and is known as a corporate raider.

But when it comes to Trump Entertainment Resorts, the company that became a subsidiary of Icahn Enterprises in February of 2016, the billionaire will likely tack up the takeover as a loss.

After failing to come to terms with a disgruntled workers union last fall, Icahn closed the Trump Taj, a decision that he claimed cost him $350 million. He stands to lose at least another million dollars plus tax costs each year for as long as he fails to unload Trump Plaza.

Icahn is reportedly considering demolishing the property, though that too would cost dozens of millions of dollars.