The state assembly of New Jersey has approved the bill that would punish billionaire investor Carl Icahn who closed Atlantic City’s Trump Taj Mahal Casino on 10 October 2016.
New Jersey state assembly approved the bill towards 60-17 votes and that means if any casino owner of the Atlantic City closes his or her Casino after January 2016 will have to face a five-year license suspension.
This new bill will make a direct impact on Carl Icahn because he shut his casino i.e. Trump Taj Mahal after 2016. Another four casinos of Atlantic City have closed since 2014 but they would not come under this scheme.
The state senate have already gave its final decision regarding approval of the bill in October and now the bill would go to Chris Christie, the Republican Governor who hasn’t anything yet about the bill.
Trump taj Mahal Casino was built by Republican President-elect Donald Trump, a real-estate billionaire-investor from New York.
He built the casino back in 1990 and stated it as eighth wonder of the world, but after facing lots of problem, he cut most ties with the Casino in 2009.Trump sold the Casino to another billionaire investor Carl Icahn.
Carl Icahn bought this top destination of Atlantic City and tried to run it smoothly but after taking lots of efforts he couldn’t made possible.
Icahn closed the property on October 10 2016, due to lots of protest against the casino by Local 54 of Unite-HERE team and that means at least 3,000 people were eliminated.
Bob McDevitt, the president of Local 54 of Unite-HERE said “it’s a very good decision and we are in support of this bill”. He further said that the new bill has sent a strong message to casino owners that they should follow all good norms to should support social compact.