VIDEO: Casino Owner Says He Has Lost Money After Hotel TakeoverPosted:
ATLANTIC CITY - The owner of the Taj Mahal casino says he's shutting down the hotel due to loss of money.
Billionaire Carl Icahn says he lost nearly $100 million dollars on his takeover of the Atlantic City casino and that's why he's closing the doors amid a strike by union members.
As of Thursday, the walkout became the longest strike in the 38 year history of the casinos, and those on the picket line say they are not backing down even though Icahn is threatening closure.
"We're still out here, still fighting for our health care, paid breaks, better working conditions. We're not asking for anything that's really extravagant,we're just asking for health care and what's due to us," said striking employee, Ed Watson.
Icahn's company says the Taj Mahal will shut down after Labor Day weekend, but an exact closing date has not yet been set.
Union officials say 60-day warning notices for employees are required, estimating the earliest the casino would shut down would be in October.