Atlantic City’s Taj Mahal Owner Won’t Invest $100 Million Into Resort If North New Jersey Casinos Are Approved.

[AP] Billionaire investor Carl Icahn says, if New Jersey approves casinos in the northern part of the state, he won't pump $100 million into his newly acquired Taj Mahal casino in Atlantic City.

Icahn says that his planned investment in the casino he acquired Friday from bankruptcy court is contingent on New Jersey not approving two new casinos just outside New York City.

Icahn, whose Tropicana Entertainment will run the Taj Mahal, says in-state competition will devastate Atlantic City and make it impossible to invest that much money into his new casino.

A bill to authorize a statewide referendum in November on north Jersey casinos is expected to be passed later this month.