The Hill - President Trump's former casino in Atlantic City was sold for a fraction of its original $1.2 billion cost, according to a new report.
The Trump Taj Mahal was sold for $50 million in March, The Associated Press reported Tuesday, 4 cents on the dollar of its initial price.
Billionaire Carl Icahn sold the Taj Mahal in March to Hard Rock International, which is owned by Florida’s Seminole Indian tribe.
Icahn’s sale to Hard Rock was reported at the time, but the transaction’s purchase price was private until Tuesday.
The Taj Mahal officially closed last October, putting nearly 3,000 people out of work amid disagreements between Icahn and unionized workers there.
The AP said that Hard Rock plans on reopening the Taj Mahal after a $375 million renovation, including scrapping mentions of Trump.
Trump dubbed the casino “the eighth wonder of the world” when it opened in 1990.