Icahn Enterprises to sell Trump Taj Mahal Casino Resort
Icahn Enterprises announced entrance into a definitive agreement to sell the former Trump Taj Mahal Casino Resort in Atlantic City, New Jersey to a group of investors led by Hard Rock International. IEP acquired the Taj Mahal in February 2016 when Trump Entertainment Resorts Inc. emerged from bankruptcy. The Taj Mahal ceased its casino and hotel operations on October 10, 2016. The sale is subject to customary closing conditions but is not subject to any financing condition. The sale does not include the former Trump Plaza Hotel and Casino in Atlantic City, which IEP continues to own and market for sale. Carl C. Icahn, Chairman of Icahn Enterprises, stated: "We at IEP are extremely happy with our ownership of the Tropicana Casino & Resort, and after considerable analysis and deliberation we determined that we only wanted to own one operating casino property in Atlantic City. A sale of the Taj Mahal therefore represents the optimal outcome for us. We wish Hard Rock and its partners the best of luck with the Taj Mahal."