ATLANTIC CITY, N.J. – New Jersey's senate president says the state will not contribute anything to billionaire Carl Icahn's bid to acquire the Trump Taj Mahal casino and keep it open.
Continue Reading Below
The billionaire investor says he'll kick in $100 million to keep the casino open, but only with union givebacks and massive tax credits from Atlantic City and the state.
Steve Sweeney says the state will not contribute the $25 million in tax breaks Icahn and Trump Entertainment Resorts want for the Taj Mahal.
Icahn says he's "confused and bothered" by union and political opposition, saying he had nothing to do with the Taj Mahal aside from owning its debt.
He also says he is not anti-union, adding he wants additional information before sinking another $45 million into the Tropicana, which he also owns.