Court Date Set For Trump Taj Mahal Name Dispute
A court hearing has been set between Donald and Ivanka Trump and Trump Entertainment Resorts over the continued use of the Trump name on the struggling Atlantic City casino that the billionaire property mogul once ran.
The Trump’s are suing Trump Entertainment Resorts, the company they once owned, demanding that the Trump name be removed from the struggling Taj Mahal Casino in Atlantic City as they feel the state of the casino damages their personal brand.
The casino, they feel, has been allowed to slip into disrepair and no longer conforms to the quality standards that were agreed upon when the Trump’s gave the company license to use their name.
“This is a very important step for us”, said Ivanka Trump, the company’s Executive Vice President of Development and Acquisitions, “It was pretty cut-and-dry. When we gave them a license to use our name, it was contingent on quality control and performance. They did not meet the high standards of luxurt in every other asset in the Trump brand.”
Trump Entertainment Resorts, however, is refusing to remove the name from the casino as well as the holding company.
The Federal bankruptcy case has delayed the court case and, despite the mismanagement of the casino, it seems Donald Trump is considering purchasing the embattled casino and making a return to Atlantic City.
In a statement to press, Donald Trump emphasized that he has absolutely nothing to do with the company running the Taj other than licensing his name to it in 2009.
“I am saddened to see that the current managers and owners of the Trump Plaza and Trump Taj Mahal were unable to operate these properties to the highest standards of luxury and success as required under the license agreement consistent with my name and reputation” he said when talking to press, “Because of constant defaults of the standards stipulated in the license agreement, I had no choice but to terminate the license agreement and require Trump Entertainment Resorts to remove the Trump name from both buildings”.
At the moment, Trump Entertainment is embroiled in bankruptcy hearings in a Delaware court and is seeking to cancel its contract with its workers union, relieving itself of all its pension and healthcare commitments to its workers.
Carl Icahn is in the midst of the bankruptcy hearings and has refused to buy the casino or invest $100 million into it if the demands made by Trump Entertainment Reosrts are not met. Demands that included the cancellation of union contracts as well as tax breaks and financial assistance from the state of New Jersey.
But while a Federal judge has given the company leave to void its union contracts, the fate of the Taj Mahal is far from being decided and it still could close in November.
Even Donald Trump has hinted at a possible return to Atlantic City and has been discussing the possibility of buying the two casinos that bear his name and reviving a failing Atlantic City economy.
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