Taj Mahal casino out of bankruptcy into Icahn s hands

FILE - This April 24, 2015 file photo shows the exterior of the Trump Taj Mahal casino in Atlantic City, N.J. Atlantic City�s Trump Taj Mahal casino emerged from bankruptcy Friday, Feb. 26, 2016, and was taken over by billionaire investor Carl Icahn, who now owns two of the city�s largest casinos. (AP Photo/Wayne Parry, File)
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ATLANTIC CITY, N.J. (AP) - The name on the side of the building still says "Trump," but Atlantic City's Taj Mahal casino is now owned by a different billionaire - Carl Icahn.

The Trump Taj Mahal casino emerged from bankruptcy Friday and was taken over by Icahn, the billionaire investor who now owns two of the city's largest casinos. (He also owns Atlantic City's Tropicana casino).

Trump Entertainment Resorts exited from Chapter 11 protection and became a wholly owned subsidiary of Icahn Enterprises LP.

The move also extinguished the last remaining 10 percent ownership stake of Republican presidential candidate Donald Trump in the casino company, even though the Trump Taj Mahal will continue to bear his name.

Trump had not owned or had anything to do with the casino company since 2009 aside from the 10 percent stake in return for the use of his name.

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