ATLANTIC CITY - The owners of the Trump Taj Mahal casino in Atlantic City say they will shut it down after Labor Day weekend due to an ongoing strike by union members.

Billionaire Carl Icahn says he has lost nearly $100 million on his takeover of the Taj Mahal.

The closure announcement came Wednesday, a day before the walkout will become the longest in the 38-year history of Atlantic City's casino era.

The strike by Local 54 of the Unite-HERE union began July 1. On Thursday, it will have lasted 35 days, surpassing the 34-day strike the union staged against seven casinos in 2004.

The union says no negotiations are scheduled. Bob McDevitt, president of Local 54 of the Unite-HERE union, says Icahn "would rather burn the Trump Taj Mahal down just so he can control the ashes."

McDevitt says 60-day warning notices for employees are required, estimating the earliest a shutdown would be permitted would be in early October.

The union wants health insurance and pension benefits restored. A bankruptcy court judge had allowed the casino's former owners to eliminate those benefits in 2014.

Atlantic City will have seven casinos after the Taj Mahal closes.

Republican presidential nominee Donald Trump originally opened the casino in 1990.

The Associated Press wire services contributed to this report.