Carl Icahn pulls behind the Trump Plaza demolition auction


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Atlantic City Mayor Marty Small supports Carl Icahn, who owns Trump Plaza Casino.  (Getty, Marty Small via Instagram)

Atlantic City Mayor Marty Small supports Carl Icahn, who owns Trump Plaza Casino. (Getty, Marty Small via Instagram)

Carl Icahn is known to blow things up, but not literally. https://www.vanityfair.com/news/2020/05/carl-icahn-is-exiting-herbalife-and-making-a-killing

The activist investor is not interested in bidding on the opportunity to demolish the former Trump Plaza casino in Atlantic City, which he owns.

According to Bloomberg, the billionaire company ordered the Bodnar auction to cancel the auction, calling it a “spectacle” and a security risk.

Icahn agreed to liquidate the defunct and dilapidated casino, but a spokesman said: “From the beginning, we thought that the auction and any other related spectacle posed a security risk, and it was always clear to us that we would not participate in any way.”

Atlantic City, backed by Mayor Marty Small, came up with the idea of ​​coming to terms with an opportunity to detonate explosives that would break the casino. Small hoped the auction would raise $ 1 million for the Boys and Girls Club in Atlantic City.

Icahn said he was donating $ 175,000 to a non-profit club to replace money that could be auctioned.

Small praised Icahn’s promise and said that “it is very important that we maintain a positive relationship with Mr Icahn, because the next conversation we need to have is what should develop there.”

The demolition was supposed to take place on January 29, but it was postponed.

Donald Trump opened Trump Plaza Casino in 1984 and at one time owned two other casinos in the city. By 2009, it had largely got rid of them, and Trump Plaza itself closed for good in 2014.

[Bloomberg]- Dennis Lynch


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