Billionaire Carl Icahn is mulling whether to infuse the Trump Taj Mahal with $100 million, but only with a specific set of caveats, the New York Post reported Tuesday.
The 24-year-old casino, owned by Trump Entertainment Resorts, filed for bankruptcy this month and is trying to restructure by Oct. 3. After that date, executives will have no choice but to shutter it, an unidentified source told the publication.
The Post reported that Icahn wants both the unions and Atlantic City to make sizable concessions if they want his investment, according to unidentified sources. He also owns the Tropicana casino, and buying the Taj would give him prime properties at both ends of the historic Boardwalk. Icahn declined to comment to the Post.
Donald Trump has also expressed interest in rescuing the casino. Although the Taj bears Trump's name, the mogul has largely left the Atlantic City gaming market. He has a 10 percent stake in the Taj.
The Trump Plaza last week became the fourth Atlantic City casino to shut down this year. Atlantic City began the year with 12 casinos.
The full report in the Post can be found here.