Trump’s hollow victory; Seminoles make new friends

In a display of either weakness or stupidity, Carl Icahn has caved in to Donald Trump and reached an agreement to keep the TV star’s name on Trump Taj Mahal. As anyone who’s followed the dwindling of the Trump empire from three casinos (don’t forget the ex-Trump Marina) to one in the last several years could see that the Trump brand is played out, discredited on the Boardwalk. Why Icahn would want it instead of simply calling it the Taj Mahal or seeking a prestigious hotel affiliation is anybody’s guess. As things stand, the only way to be rid of the pestilent Trump name would be for the Taj to close for three months and I don’t think anybody wants that.

What’s more, Trump wrested $172,000 from Trump Entertainment Resorts to satisfy a “ground lease claim.” Trump and Icahn sealed the deal with a little mutual log-rolling. “I hope to be able to restore the Trump Taj Mahal to its former glory,” said Icahn, who has called TER the most distressed company he’s ever seen. The more long-winded Trump did not disappoint. “The Trump Taj Mahal, under the right leadership and with the proposed significant reinvestment in the property, can be, once again, a wonderful place for travel and entertainment,” he bloviated, undercutting current management in the process.

All vestiges of the Trump moniker will removed from defunct Trump Plaza, although “the name is still outlined in dirt or rust in many spots.” How apt. Thus endeth the Trump vs. Trump litigation, which saw the loudmouthed mogul suing a company in which he held a 10% stake. But when does Donald Trump ever make sense?

* Just as Caesars Entertainment was deciding to liquidate its position in Ohio, it up and had one of its strongest months at Horseshoe Cleveland, gaining 15% on a $20 million gross, with table game revenue vaulting 49%. “A lot of that had to do with the Chinese New Year. They do a very good marketing [push] to the Asian community. Table games are volatile. You’re up one month and down the next,”said casino expert Alan Silver. “So I don’t expect that number to hold up every month.” But business was comparatively frosty at ThistleDown Racino and Horseshoe Cincinnati, and a cold February chilled business at some of Penn National Gaming‘s casinos as well.

* Florida Gov. Rick Scott‘s foot-dragging on a Seminole Tribe gaming compact is bringing some Seminole allies out of the underbrush and onto the playing field. Although they both oppose gambling expansion in South Florida, both the Florida Chamber of Commerce and the Florida Restaurant & Lodging Association are airing an ad in support of the compact. The duo is described as two of Tallahassee‘s most powerful lobbying groups, so we’ll see if their intervention gets Scott off the dime.