New Jersey

Senate fails to override Icahn legislation veto

Despite the veto, Icahn said he plans on selling the more than 4.3 million-square-foot property.

United States 
| 15/02/2017

The state Senate failed Monday to override Gov. Chris Christie’s veto of a bill that would have punished billionaire investor Carl Icahn for closing Trump Taj Mahal Casino Resort in Atlantic City.

Senate President Steve Sweeney, D-Salem, Gloucester, Cumberland, put up the bill but pulled it before a final vote was recorded.

Christie vetoed the bill Feb. 6, claiming it represented the Legislature at its worst.

The bill would have disqualified a casino license applicant for five years if that person “substantially” closes a casino in New Jersey.

“It is a transparent attempt to punish the owner of the Taj Mahal casino for making the business decision to close its doors after its union employees went on strike and refused to negotiate in good faith,” Christie’s veto letter stated.

The original bill passed the Senate 28-7 and the Assembly 60-17. A two-thirds vote is needed to override the veto.

Despite the veto, Icahn said he plans on selling the more than 4.3 million-square-foot property.

In January, Trump Taj Mahal Associates LLC notified the state Department of Gaming Enforcement it intends to surrender its casino license. The company also placed a deed restriction on the property not allowing gambling if it is sold, according to paperwork filed with the Atlantic County Clerk’s Office on Dec. 19.

Yogonet.com/pressofatlanticcity.com

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