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Atlantic City Casino to Keep TRUMP Name
Tuesday March 10,2015 : ATLANTIC CITY CASINO TO RETAIN TRUMP BRANDING
The Donald and Carl Icahn reach a compromise.
The Trump name will remain associated with an Atlantic City land casino following a deal this week between the enterprise's main debt holder, Carl Icahn, and US businessman Donald Trump.
The troubled Trump Taj Mahal casino is not owned by Trump but carries his name in a franchise agreement signed some time ago. Recently Trump and his daughter Ivanka launched litigation seeking to compel the removal of his name from the run-down casino, which Icahn is trying to save from bankruptcy after extending a $20 million loan to keep it going
Reuters reports that the two men have reached a compromise deal, which has still to be approved by the bankruptcy court, and calls for casino owner Trump Entertainment to pay Trump about $172,000 to satisfy an outstanding ground lease claim.
One of the conditions in the agreement is that if the casino stops operating for longer than 90 days, the Trump name and brand can be withdrawn.
Ivanka Trump said the deal with Icahn allows the Trump family company to retain its rights to monitor the hotel to make sure it's brought up to Trump standards.
Trump has in the past successfully had his name stripped off the Trump Plaza - another failed Atlantic City casino.
Icahn is acquiring Trump Entertainment by swapping its debt that he owns in return for ownership of the company.
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2017 Aussie Millions Event 1 -
The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.
Swiss Reject idea to Block Gambling Websites -
The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.
Growth Ahead For Online Gambling -
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
New Qubit software For SkyBetting -
#qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.
Slotfather II Slot Launching -
#betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..
Massachusetts Online Lottery Bill -
Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.
Italy Doing Well With Online Sports betting -
The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.
Michigan To Reintroduce Online Gambling Bill -
#Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.
MGM Buys DC office building For lobbying team -
#MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.
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