From ‘8th Wonder of the World’ to Collapse: The Rise and Fall of Trump’s Taj Mahal Casino

The Trump Taj Mahal Casino and Resort in Atlantic City, New Jersey, once proudly marketed as the 8th wonder of the world, ultimately failed after a tumultuous 26-year history plagued by financial instability and labor disputes. Opened with immense fanfare in 1990, it was Donald Trump’s most ambitious real estate venture at the time. Trump confidently told ABC News’ Charles Gibson in 1990, “The scale, Charlie, is what brings the people. The opulence, the size, the everything is really what’s going to make the Taj Mahal the most successful hotel anywhere in the world.” However, the lights finally went out at the Trump Taj Mahal at 5:59 a.m. on October 10, 2016, leaving thousands of workers jobless and cementing its legacy not as a world wonder, but as a monument to ambitious plans that failed to deliver sustainable success.

Following his success with Trump Tower in Manhattan during the 1980s, Trump turned his attention to Atlantic City. He acquired three casinos in the city: Trump Plaza, Trump Castle, and the Trump Taj Mahal. His acquisition of the Trump Taj Mahal came after its initial developer, Resorts International, was unable to complete construction.

The grand opening party for the Taj Mahal was reportedly as lavish as the casino itself, featuring Michael Jackson as the guest of honor. Celebrity journalist Robin Leach covered the spectacle on his show, noting the casino earned $2 million on its opening day. While this initial revenue seemed impressive, gaming industry financial analyst Marvin Roffman foresaw that it was not sustainable.

Roffman recounted to ABC News’ “Nightline” that Trump contacted him the day after purchasing the Trump Taj Mahal to seek his advice. “I said, ‘Well, why would you want to have three casinos? One is going to cannibalize the other,’” Roffman explained. “And here was his response: ‘Marvin, you have no vision. This is going to be a monster property.’ And those were the exact words.”

Just weeks before the casino opened, Roffman shared his forecast with The Wall Street Journal, stating, “When this property opens he will have had so much free publicity he will break every record in the books in April, June and July … But once the cold winds blow from October to February it won’t make it. The market just isn’t there.”

According to Roffman, Trump was so angered by this prediction that he called Roffman’s boss, demanding a public apology or Roffman’s termination. Trump himself told ABC News the day before the Taj Mahal opened that he intended to pursue Roffman, saying, “When somebody does something wrong and says something wrong, and somebody’s in a conflict position, I decided in this particular case to go after him.” The list of old 7 wonders of the world names in english provides a historical context for why declaring a modern structure the “8th wonder” was such a bold claim, underscoring the magnitude of the ambition behind the project.

Roffman stated that his boss drafted a retraction letter and pressured him to sign it under threat of being fired. “So I signed the letter. And it was faxed to Donald Trump. And the very next day he called and said he wanted changes made to that letter … the letter that I didn’t write,” Roffman said. “He wanted changes made to that letter which would absolutely be against my — of what I thought was going to happen. And I thought, ‘This whole thing smells.’ And it’s very, very serious.” Roffman then wrote his own letter retracting his boss’s retraction, resulting in his immediate dismissal.

Trump Taj Mahal Casino opening day facade

Roffman’s primary concern about the Trump Taj Mahal stemmed from how it was financed, specifically with an extremely high-interest loan. He calculated, “The Taj would have to make close to $1.3 million a day to break even. No casino in the world ever had a win anywhere near approaching that kind of number.” Roffman’s analysis proved remarkably accurate. Slightly over a year after its grand opening, the Trump Taj Mahal filed for bankruptcy. Trump’s other two Atlantic City casinos followed suit the following year. The concept of old 7 wonders of the world signifies enduring feats of architecture and engineering, a stark contrast to the financial fragility that plagued the Taj Mahal despite its initial grandeur.

Following his termination, Roffman successfully sued his employer for wrongful termination and was awarded $750,000. He also filed a defamation suit against Trump, which Trump settled out of court without admitting wrongdoing.

Issues also emerged between Trump and the contractors who worked on the hotel. Martin Rosenberg, a construction company owner whose firm provided glass, mirrors, and doors, told “Nightline” that he would not have taken the job had he known Trump would take over the project from Resorts International. Rosenberg stated that the Trump Taj Mahal job nearly bankrupted his company and that Trump failed to uphold his end of their agreement. “He promised me, personally, if we did a good job, we would get paid. At the time I said, ‘We always do a good job.’ And I didn’t get paid,” Rosenberg recalled. Rosenberg claimed Trump owed him over $1 million and failed to honor financial obligations to more than 100 contractors involved in completing the casino. “The man didn’t pay us because he didn’t have the money, bottom line,” Rosenberg asserted. A look at the 7 wonders of the world old list highlights projects built over centuries, often with massive state backing, a different financing model than the high-interest debt that burdened the Taj Mahal.

Rosenberg and six other unpaid contractors united to force a meeting with Trump. Rosenberg described receiving a call from Trump’s personal attorney who asked how the meeting could be stopped. Rosenberg replied, “It’s relatively simple. Give me a check for $1.2 million.” After the attorney laughed, Rosenberg emphasized their unity: “Once we meet I have an obligation and I will stick to it. You can’t pay me off and not pay everybody else off. We’re coming in as a group now.”

Michael Jackson and Donald Trump at the grand opening of Trump Taj Mahal

Following several negotiation rounds, Rosenberg and the other contractors settled with Trump for less than the full amount owed, resulting in severe consequences for some businesses. “Some went bankrupt. Some lost their businesses. We survived because we were very busy in Atlantic City,” Rosenberg stated. He later shared his experiences working for Trump at a Hillary Clinton campaign event in Atlantic City the summer before the casino’s final closure. Comparing the short, troubled lifespan of the Taj Mahal to the enduring legacy suggested by the old 7 wonders of the world highlights just how dramatically the initial promise of being an “8th wonder of the world” failed.

Trump sold his stake in the Trump Taj Mahal in 2009. His friend and supporter, Carl Icahn, eventually took control in 2014.

Regarding the casino’s closure, a Trump campaign spokesperson provided a statement to “Nightline” via email, saying, “Mr. Trump has not been involved for many years and has been given great credit for his timing.”

Charles Baker, who worked at the Trump Taj Mahal for its entire 26-year run, described the union’s clashes with Icahn over issues like health benefits and paid lunch breaks. When negotiations between the union and Icahn failed, some Trump Taj Mahal employees went on strike in the summer of 2016, which prompted Icahn to announce the permanent closure of the casino.

Union workers protest the closure of Trump Taj Mahal casino

During the strike, Baker expressed the workers’ desperation: “We can’t give back anymore. I’ve got nothing else to give. You’ve taken everything from me that I’ve ever worked for.” Icahn posted a statement on his website regarding the closure, stating, “Today is a sad day for Atlantic City. Despite our best efforts, which included losing almost $350 million over just a few short years, we were unable to save the Taj Mahal. I am extremely grateful to all of the almost 3,000 employees for their hard work, especially those that stayed loyal to us during this trying period. After our last offer, which included medical, was rejected, it was simply impossible to find a workable path forward that would not have required funding additional investments and losses in excess of $100 million over the next year. Like many of the employees at the Taj Mahal, I wish things had turned out differently.”

For Charles Baker, the experience directly influenced his political views. “I will not vote for Donald Trump. He is not my choice,” Baker stated. “I don’t believe in anything he says. He made promises when he came to the city. Then he took his money, and he left. So I don’t see, you know, him doing anything great for America.” The narrative of the Trump Taj Mahal, a project hyped as a modern marvel that ultimately succumbed to financial pressures and labor disputes, serves as a case study in how even grand ventures described as the 8th Wonder Of The World Failed. Exploring the old 7 wonders of the world names and pictures reveals structures that stood for centuries, contrasting sharply with the relatively brief and troubled existence of the Taj Mahal.

Last moments as Trump Taj Mahal casino closes its doors

In conclusion, the Trump Taj Mahal Casino’s journey from being hailed as the “8th wonder of the world” to its eventual closure after years of significant losses encapsulates a dramatic tale of ambition, financial missteps, and human cost. Despite initial opulence and record-breaking opening day revenue, the casino’s heavy debt burden, coupled with later conflicts between ownership (including Carl Icahn) and unionized workers, proved insurmountable. The disputes with contractors and the ultimate impact on the thousands of employees highlight the far-reaching consequences when a project of this magnitude 8th Wonder Of The World Failed. Its history stands as a cautionary business tale within the glitzy world of entertainment and casinos.