YOU ROLL THE DICE AND TAKE YOUR CHANCES: Atlantic City’s Trump Taj Mahal Is Closing After ‘Losing Multimillions a Month’

Atlantic City’s Trump Taj Mahal casino and hotel will close its doors permanently after Labor Day, less than seven months after the establishment exited bankruptcy as a subsidiary of billionaire investor Carl Icahn.

Management at the casino, which is now a unit of Icahn Enterprises IEP -4.87% and is run by the Icahn-owned gaming company Tropicana Entertainment TPCA 0.00% , cited massive financial losses and a recent workers’ strike as the reasons why the Trump Taj Mahal will soon be closing. Tropicana’s president and chief executive, Tony Rodio, said in a statement, “Currently the Taj is losing multi-millions a month, and now with this strike, we see no path to profitability.”

Previous bankruptcies had whittled Trump’s stake in Trump Entertainment Resorts down to just 10%.