A bankruptcy judge said that he will rule on Friday whether to allow the owner of the Trump Taj Mahal casino in Atlantic City, New Jersey to shed its labor pact in order to clinch a $100 million rescue deal with billionaire Carl Icahn, Reuters reported yesterday. Parent company Trump Entertainment Resorts Inc. has said that trimming $14.6 million from its annual union pension and health care costs is key to save the casino from becoming the fifth to close this year in the seaside resort. Bankruptcy Judge Kevin Gross said that he would read his ruling during a teleconference at 3 p.m. EDT on Friday. Atlantic City has lost thousands of jobs this year and Trump Entertainment has warned it could be forced to begin winding down the Taj Mahal operations as soon as next week.
