Deed Restriction Shutters the Former Trump Taj Mahal Casino in Atlantic City
A deed restriction has been put on the former Trump Taj Mahal Casino in Atlantic City. Billionaire Carl Icahn slapped the restrictions on the property so that future owners of the property cannot operate any type of gaming activities.
The news was just released on Tuesday of this week. The New Jersey Division of Gaming Enforcement confirmed the news claiming Icahn Trump Taj Mahal Associates LLC filed the formal paperwork to return the gaming licensed for the property. Icahn actually filed the paperwork on December 22nd, just one day after it was reported that he wanted to sell the property.
Icahn’s stipulations for the new property owners detail that if gaming activities want to be offered he would accept an unspecified amount. Slapping a deed restriction on property isn’t something new to Icahn. He did the same to the Showboat Casino back in 1988 when he sold it to Caesars Entertainment.
The Trump Taj Mahal closed its doors back in October due to months of labor matters amongst employees. This will be an interesting read especially if the property gets sold, and if the new owners obeys Icahn’s requests.