Trump Taj Mahal, the casino founded by Republican presidential candidate Donald Trump in Atlantic City, is to close its doors after several years failing to make a profit.
The casino was opened by Trump in 1990, but it was bought by billionaire investors Carl Icahn in 2009 after the Republican candidate's Trump Entertainment company filed for bankruptcy.
Mr Icahn said he had lost around $100 million on the Taj Mahal.
3,000 jobs will be lost as a result of the closure, meaning more than 10,000 jobs have been cut in the industry since 2014. But the Taj Mahal's workers have already been on strike since the start of July. And as of today (Thursday), it is the single longest strike in Atlantic City since its time as a casino location started 38 years ago.
Although no longer involved in the Trump Taj Mahal, Donald Trump came under fire earlier this week from none other than billionaire investor Warren Buffett. Mr Buffett described Trump's performance as an investor as 'a monkey throwing darts'. Someone who says if a product or service bears the Trump name, 'you know it's going to be successful', research by a professor at the University of Texas showed that Trump had actually underperformed in the retail estate market by $13 billion since 1976.
Mr Buffett also called into question Mr Trump's reasoning for not disclosing his personal accounts.
In an interview with CBS last year, the Republican candidate said corporate executives who use tax loopholes to reduce their tax bill “get away with murder”. But with calls for him to reveal his own tax filings and accounts, Trump has come up with a string of excuses. In fact, the few tax filings that have been made public show that he paid either very little, or absolutely no tax at all. That is because, he claims, he has never made more than $1m in a year, while benefiting from tax breaks for those in real estate industry.