Carl Icahn may consider investing $100 million in the Trump Taj Mahal casino in Atlantic City to stave off the closing, according to The Wall Street Journal. The investment would be contingent on union concessions, tax breaks and a $25 million investment by the state redevelopment agency of New Jersey.
In addition, Icahn wants to swap the present debt he owns into an equity stake. Without the investment, it is likely the Taj Mahal will shut down in November, laying off nearly 3,000 employees. It would also mark the fifth of Atlantic City's 12 casinos to close this year.
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