Next Atlantic City Casino to Close/Change Management

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Poll
10 votes (27.02%)
1 vote (2.7%)
No votes (0%)
No votes (0%)
No votes (0%)
8 votes (21.62%)
1 vote (2.7%)
2 votes (5.4%)
23 votes (62.16%)
2 votes (5.4%)

37 members have voted

March 21st, 2012 at 8:45:54 AM permalink
FatGeezus
Member since: Jun 12, 2010
Threads: 3
Posts: 322
I don't think that any of them will close.

The Trump properties were close to bankruptcy and they survived.

Even the ACH managed to remain open during their financial problems.

I think that all the CZR properties are going to take a bigger loss when the Revel opens. I have read on other boards that many CZR players plan on moving their play to the Revel. CZRs has cut back their comps and rewards and many card holders are upset with this. They weren't too happy when CZRs changed their policy and started charging $10 in reward credits to enter the Diamond lounges. I will be joining them as I move my play to the Revel.

Also being a non-smoker, the Revel is SMOKE FREE!!!
March 21st, 2012 at 1:19:31 PM permalink
Tiltpoul
Member since: May 5, 2010
Threads: 32
Posts: 1573
Quote: FatGeezus
I think that all the CZR properties are going to take a bigger loss when the Revel opens. I have read on other boards that many CZR players plan on moving their play to the Revel. CZRs has cut back their comps and rewards and many card holders are upset with this. They weren't too happy when CZRs changed their policy and started charging $10 in reward credits to enter the Diamond lounges. I will be joining them as I move my play to the Revel.


I agree with you that Caesars really screwed over some Diamond players when they changed their Diamond Lounge policy. I imagine that AC only players could jump ship...

However, your assertion that Caesars is going to hurt is completely wrong, IMO. First, Revel's players club initially isn't focused on loyalty.. it's about the moment and nightclubs. Total Rewards players are ALL about loyalty. In fact, a few plays where they aren't getting recognition and those customers will be back to the smoky congested Showboat in second flat. Second, Revel is all about sexy and image. TR players are gamblers, and many do not fall into the sexy/glam category (myself included). This is not going to attract these people there.

ACH only remained open because there were people who believed in it. It will be tough to believe in that property much longer.
"One out of every four people are [morons]"- Kyle, South Park
March 21st, 2012 at 2:09:12 PM permalink
Boz
Member since: Sep 22, 2011
Threads: 101
Posts: 1666
Agree 100% that few CZR players will move their play over to Revel. While there are still a few AC only players, many I know like to take vacations in Tahoe, Vegas, New Orleans or the other places they can go and stay for free. Also most of them are Diamond or above. They are used to being treated special and even if they have to use $10 in comps to visit the Diamond Lounge, there is a Diamond Lounge. Revel has no plans for a players lounge or even tiers in their cards. CZR players like to move to the front of the line, the like the easy free rooms and LFB or RFB they get where they can eat and drink for free and the casino picks it up. Revel offers none of this. I really cannot wait to see how empty Revel is on a Monday night in September when the summer crowd is gone and they have no reason for gamblers to show up at their property. The high end restaurants will be closing faster than Eva Longoria lost her investment in her Vegas restaurant.
March 21st, 2012 at 3:22:56 PM permalink
toastcmu
Member since: Nov 11, 2009
Threads: 17
Posts: 286
I voted for the Plaza - while ACH is hemmoraging money, to me it seems like once they sold the Marina, the Trump property decided to focus solely on the Taj and wait for another buyer - and wait ...... At least ACH is actively trying to manage the property towards success.

It didn't help when they took out their FP JoB machines either - I used to like them (as long as I could put up with the smoke in that area).

-B
March 21st, 2012 at 4:07:49 PM permalink
DJTeddyBear
Member since: Nov 2, 2009
Threads: 144
Posts: 8307
Now that I think about it, the short essay I wrote on the prior page was more about the reason why it's hard to pick a casino to close, not why they are hard to sell.

In my opinion, the two that are hurting the most, but would be the most attractive to a buyer, would be for the same reasons that they aren't closing: Trump Plaza for it's central location and first casino seen when arriving via AC Expressway, and the ShowBoat for it's location next to Revel and the overflow and smoking gamblers it will likely get.
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood?
March 21st, 2012 at 8:06:58 PM permalink
WongBo
Member since: Feb 3, 2012
Threads: 62
Posts: 2126
Interesting article about Borgata's debt and the evolving situation in AC....

CASINO GLUT DEPRESSES BORGATA BONDS
In a bet, there is a fool and a thief. - Proverb.
March 21st, 2012 at 8:57:57 PM permalink
pacomartin
Member since: Jan 14, 2010
Threads: 638
Posts: 7753
Quote: toastcmu
I voted for the Plaza - while ACH is hemmoraging money, to me it seems like once they sold the Marina, the Trump property decided to focus solely on the Taj and wait for another buyer - and wait ...... At least ACH is actively trying to manage the property towards success.


Trump Plaza may be sold or may be expanded, company CEO says May 24, 2011

Key to the companyís future is Trump Plaza, which could be sold to help pay down debt. Griffin said Trump Entertainment will also consider expanding the aging casino by itself or with the help of a joint venture partner. - Trumpís CEO Bob Griffin


The first of the Pennsylvania mini casinos (600 slots & 50 table games) to open at the Valley Forge Conference Center opens on 31 March 2012.



I think that NJ is going to copy this concept (complete with 55% tax on slot machines). They may even allow yearly membership dues like the one in PA. But the existing companies operating in AC are going to have to get some preferential treatment to acquire the licenses, in order for it to be fair.
Wine loved I deeply, dice dearly -Edgar, betrayed son of Gloucester in King Lear
March 21st, 2012 at 10:36:41 PM permalink
MrV
Member since: Feb 13, 2010
Threads: 169
Posts: 3089
Quote: s2dbaker
Since the owner of Resorts just keeled over, I'm going to go with Resorts.


Whoa, I didn't realize Dennis Gomes had returned to NJ and seized control of the casino which he recommended not be given a permanent license almost 35 years ago.

Hello, irony.

Still have to laugh about his short little escapade in the Garden State back when Resorts International first came slithering in to town.

As part of the investigation of Resorts, he and his investigative team went down to the Bahamas, without tipping off Byrne or Perskie or Martinez back in NJ, and raided Resorts' casino there, finding all sorts of interesting documentation.

In doing so, he "allegedly" discovered proof that Resorts, the mob, and the NJ pols were all in cahoots; when he told his superiors they squashed him like a bug: he soon returned to Las Vegas with his tail between his legs.

Obviously he learned the truth of the old adage: "If you can't beat 'em, join 'em."

RIP



source ...
"What, me worry?"
March 22nd, 2012 at 5:13:24 AM permalink
Tiltpoul
Member since: May 5, 2010
Threads: 32
Posts: 1573
Quote: MrV
Whoa, I didn't realize Dennis Gomes had returned to NJ and seized control of the casino which he recommended not be given a permanent license almost 35 years ago...

RIP


By the way, Resorts latest mailing was a little bit delayed this month, but it featured a very nice letter from Gomes' son, thanking all the players for being part of "the family." It's obviously difficult in a marketing piece to try to address a depressing elephant in the room, but if I get around to it, I'll post the letter. It was pretty well-written, thoughtful and considerate.
"One out of every four people are [morons]"- Kyle, South Park
March 22nd, 2012 at 6:47:46 AM permalink
SanchoPanza
Member since: May 10, 2010
Threads: 30
Posts: 1739
Quote: MrV
He "allegedly" discovered proof that Resorts, the mob, and the NJ pols were all in cahoots

Crosby and his lovely Mary Carter Paints actually fronted for a number of C.I.A. operations.
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