Icahn Enterprise L.P. announced Wednesday they have entered an agreement to sell the Taj Mahal to a group of investors led by Hard Rock International.
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IEP acquired the Taj Mahal in February 2016.
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The Taj Mahal ceased its casino and hotel operations on October 10, 2016.
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IEP said the sale does not include the former Trump Plaza Hotel and Casino in Atlantic City, which the company "continues to own and market for sale."
In a statement, Carl C. Icahn, Chairman of Icahn Enterprises, said:
"We at IEP are extremely happy with our ownership of the Tropicana Casino & Resort, and after considerable analysis and deliberation we determined that we only wanted to own one operating casino property in Atlantic City. A sale of the Taj Mahal therefore represents the optimal outcome for us. We wish Hard Rock and its partners the best of luck with the Taj Mahal."