Beautifully engraved cancelled Bond Certificate from Trump Taj Mahal Funding, Inc.. This historic document was printed by the Security-Columbian United States Banknote Corporation in 1989 and has an ornate border around it with a vignette of the company logo. Light crease. Punch cancelled. This item has the printed signatures of the Company's President ( Donald Trump ) and Secretary (Robert Trump). Punched cancelled.
Bankruptcy sale shown for illustrative purposes
The Trump Taj Mahal (known as the The Taj or Trump Taj by locals) is located at 1000 Boardwalk in Atlantic City, New Jersey, United States, in the casino area along the shore. The casino is one of two owned by Trump Entertainment Resorts. With approximately 75 regular tables and 14 tournament tables, the Taj Mahal has one of the largest poker rooms in Atlantic City, second in size only to the Borgata.
The casino was officially inaugurated in 1990, with Michael Jackson performing at the ceremonies, and was built at a total cost of nearly one billion dollars. Trump's third property in Atlantic City, was wrapped in controversy prior to opening as it was part of the fight between Donald Trump and Merv Griffin along with Resorts Casino Hotel in 1988 over Resorts International. Resorts was developing and constructing the Resorts Taj Mahal Casino north of Resorts Casino Hotel on the boardwalk, but had run out of money and construction was stopped.
Trump was attempting to buy the unfinished resort, along with Resorts, but Merv Griffin would not sell. Eventually, a deal was created between Trump and Griffin giving Griffin Resorts in Atlantic City and the Resorts Paradise Island with the unfinished Taj Mahal project going to Trump. The casino opened in 1990 as the Trump Taj Mahal and remained the largest and highest grossing casino in the city until the opening of the Borgata in 2003. The Chairman Tower opened in 2008, bringing the complex to over 2,000 rooms. Among the billion dollar property's most remarkable statistics: One of the largest casinos in the world, with slot machines, gaming tables, poker tables and a state-of-the-art simulcast facility. $14 million worth of German crystal chandeliers, including 245,000 piece chandeliers in the casino alone, each valued at a cost of $250,000, and taking over 20 hours to hang. 4 1/2 times more steel than the Eiffel Tower. If laid end to end, the building support pilings would stretch the 62 miles from Atlantic City to Philadelphia. $4 million in uniforms and costumes outfit over 6,000 employees. The Trump TAJ Mahal Casino Resort can generate enough air conditioning to cool 4,000 homes.
The Trump TAJ Mahal covers over 17 acres of prime Boardwalk real estate with 4.2 million square feet of enclosed space. The main hotel lobby desk is 115-feet long with 15 separate check-in stations. A city within a city, the world's most elegant and expansive themed suites with magnificent ocean views, individual spas, butler service and the private, bi-level Maharajah Club for intimate gatherings, light dining, reading and relaxation. 1,250 guest rooms, including 237 suites are housed in the hotel tower. From the 51st floor, at 429 feet above sea level, you are standing atop one of the tallest man-made structures in New Jersey.
At approximately 4,500 square feet, the Alexander the Great Suite is the ultimate residence with its own steam room, sauna, weight room, bar, lounge, living room, pantry, master bedroom and one guest room. Cost for one night: $10,000. Three additional check-in areas can be found throughout the resort: the concierge-style VIP Services in the main lobby; the motor coach terminal and the convention registration desk on the second floor. 70 colorful minarets adorn the roof-tops. Seven, two ton elephants of carved stone greet visitors of the Trump TAJ Mahal. An entire two-year output of Northern Italy's Carrera marble quarries-the marble of choice for all of Michelangelo's art-adorn the hotel's lobby, guest rooms, casino, hallways and public areas. Nine restaurants can accommodate 3,000 diners at any given time.
That number increases if all the banquet facilities are fully utilized. 140,000 square feet of convention and exhibit space, including 22 meeting rooms and three ballrooms, the largest measuring 30,000 square feet. The 63,000 square foot Mark G. Etess Arena can accommodate up to 500, 8' x 10' exhibition booths. The arena can also seat over 5,000 people for concerts and sporting events. A state-of-the-art Health Club and Fitness Center with a near Olympic-sized indoor pool. The spa also offers Jacuzzi, steam baths, tanning booths and sundecks. The motor coach terminal can accommodate 22 full-size buses.
Trump Entertainment Resorts filed for bankruptcy on September 10, 2014, and announced plans to close the Taj Mahal on November 13 if the casino did not get concessions from its unions. A sister property, the Trump Plaza did close in 2014. Workers from the casino marched to Mayor Don Guardian's office on the morning of November 3, 2014 to ask him to reconsider granting concessions, which the casino said were necessary to remain open. About 1,000 employees signed a petition calling on the mayor and other officials "to do everything possible" to keep the casino open. At the time, four of twelve casinos in Atlantic City had closed and Trump Taj Mahal would have been the fifth if it were to close. On November 14, 2014, Trump Entertainment Resorts announced that the casino would shut down in December unless its main union, UNITE HERE, dropped its appeal of a court-ordered cost-savings package, which had effectively cancelled the workers' health insurance and pension coverage.
However, it was revealed that the closing was to happen because it has not received the state and local tax breaks it sought. In filing a revised reorganization plan in Delaware bankruptcy court, Trump Entertainment Resorts said its board had approved a shutdown of the casino by December 12, 2014. The shutdown date was later pushed back to December 20. On December 18, two days before the scheduled closure, UNITE HERE reached a deal with Trump Entertainment Resorts that saved the Taj from closing. The same day, billionaire Carl Icahn committed $20 million in financing for the Taj. In February 2015, the U.S. Department of the Treasury's Financial Crimes Enforcement Network settled an investigation of Trump Taj Mahal with the assessment of a $10 million civil fine for "significant and long-standing money laundering violations" which were described as "willful and repeated" contraventions of the record-keeping and reporting requirements of the Bank Secrecy Act. The casino agreed to periodic external audits to comply with anti-money laundering statutes, and admitted to multiple violations as part of its settlement.
The U.S. Treasury made note of casino violations dating back to 1998, when Trump Taj Mahal paid a $477,700 fine for violating currency transaction requirements, as well as violations in 2003, 2010, and in 2012, for which the company was "repeatedly warned". Trump Taj Mahal was "far from meeting" standards required to protect the U.S. financial system "from exploitation from criminals, terrorists, and other bad actors", the Treasury said in a press release. In February 2016, Trump Entertainment Resorts exited bankruptcy and became a subsidiary of Icahn Enterprises.
The casino retained the name "Trump Taj Mahal", though Donald Trump no longer held any ownership stake. Shortly thereafter, an agreement was announced for the Taj Mahal to be managed by another Icahn affiliate, Tropicana Entertainment. Icahn also stated he would withhold a planned $100-million investment into the property if New Jersey approved casinos in the northern region of the state. History from Wikipedia, RM Smythe (old stock certificate research service)