Yes, activist hedge fund investor Carl Icahn took a loss on his investment in the Trump Taj Mahal — he says it was for a whopping $100 million.
Icahn's a savvy investor, but even he couldn't have foreseen the issues that would come to hurt the properties that bear Trump's name: according to data from Foursquare, foot traffic to his places of business have been hurt during his campaign for the presidency.
But there's still a way Icahn can swing a profit on the failure of the Trump-affiliated gaming house. He just needs Trump's former patrons in Atlantic City to head over to the Tropicana.
Icahn, through Icahn Enterprises LP, is also an investor in Tropicana Entertainment, a pink-sheets listed gaming company with operations in Atlantic City (where the Trump casino announced it will shutter come Labor Day in a few weeks). The company's stock is up more than 9 percent this year, and Icahn is its chairman and, by proxy of the fund, controlling shareholder.
"Tropicana AC has benefited from the closure of several competitors in Atlantic City and recent capital investments," Icahn's holding company said in financials Thursday.