- Associated Press - Tuesday, February 3, 2015

ATLANTIC CITY, N.J. (AP) - Atlantic City’s Trump Taj Mahal casino will get the first instalment of $20 million from billionaire investor Carl Icahn on Thursday.

Icahn, who is acquiring the casino by swapping debt he owns in return for ownership of its parent company, agreed in December to provide $20 million to keep the Taj Mahal open throughout 2015.

Bob Griffin, CEO of Trump Entertainment Resorts, says the new financing, which was approved by a Delaware bankruptcy court judge on Jan. 28, should put to rest any doubts about the casino’s future.

The company had repeatedly threatened to close the Taj Mahal last fall, until Icahn committed the new funding.

Trump Entertainment remains in bankruptcy, and its main union is fighting to restore benefits and work rules the court allowed it to cancel.

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