The Trump Taj Mahal, the sprawling Atlantic City casino owned by billionaire business magnate Carl Icahn, shuttered on Monday after failing to reach an agreement with an employees union.
"Today is a sad day for Atlantic City. Despite our best efforts, which included losing almost $350 million over just a few short years, we were unable to save the Taj Mahal," Icahn said in a statement.
Some 3,000 employees are now without work, just three months after about 1,000 employees went on strike with hopes of securing health and pension benefits. Cooks, housekeepers, bellmen, and bartenders were among the workers who went on strike in July, but according to Icahn, negotiations between management and the Unite Here Local 54 union are deadlocked.
"After our last offer, which included medical, was rejected, it was simply impossible to find a workable path forward that would not have required funding additional investments and losses in excess of $100 million over the next year," Icahn said. "Like many of the employees at the Taj Mahal, I wish things had turned out differently."
The Associated Press reports some 11,000 Atlantic City casino workers have lost their jobs since 2014.
Icahn bought the 26-year-old casino in 2014, after rounds of bankruptcy filings by previous owners, including its namesake Republican presidential nominee Donald Trump.