Atlantic City Open Forum
Say it ain't so.Quote: Lemieux66The only other forum I post at(when I subscribe) is the wrestling observer forum.
Quote: onenickelmiracleSay it ain't so.
Many interests.
Quote: 7star4nowQuote: 7star4nowQuote: beachbumbabsThe Adventures of Lemieux: Hounded in AC has been moved HERE. 22 pages worth. I can only see the first line of each post while splitting, so I hope it got untangled without too many left behind or taken by mistake. You're welcome.
Good Job.
If a certain poster is who he appears to be, from another board, his expertise skews more toward PBR vs BJ.
I would expect more new aliases ...& more calls for censorship from those new aliases.
On the "TA" AC board a certain poster , who posts under a dozen or so aliases, in varying degrees of inebriation, tries to provoke other posters into mudslinging.
He then reports their replies as inappropriate , using multiple handles, to have the other poster's content deleted, or his ultimate goal , to have the thread closed.
Splitting off the thread ,vs closing it, cleverly defeats this tactic.
MY mistake -my post & responses should be moved to new "Lemieux66" thread.
Quote: Lemieux66The only other forum I post at(when I subscribe) is the wrestling observer forum.
Quote: aceofspades
Not just to him! Lol
Says It's A State's Rights Issue
June 4, 2014 4:24 AM
ATLANTIC CITY, N.J. (AP) — New Jersey is bolstering its legal arguments as it tries to get the U.S. Supreme Court to consider its effort to overturn a ban on legalized sports betting in all but four states.
In a filing submitted Tuesday, the state says the federal law restricting sports betting to only four states needs to be reviewed immediately.
Theodore Olson, who won the Bush v. Gore election case in 2000, says the ban impermissibly restricts states’ rights. He also says the high court needs to consider the way the law treats states differently.
The law restricts sports betting to states that met a 1991 deadline to pass laws approving it: Delaware, Montana, Nevada and Oregon.
The major professional and collegiate leagues support the ban.
http://lasvegas.cbslocal.com/2014/06/04/new-jersey-fighting-sports-betting-ban/
Three shot during party at West Atlantic City motel
WRITTEN BY STAFF REPORTS
Monday, June 02, 2014 02:40 pm
EGG HARBOR TOWNSHIP – Three Atlantic City residents were shot by an unknown shooter while attending a party at the Howard Johnson Motel on the Black Horse Pike in the West Atlantic City section of the township on Saturday, May 31.
Rickesha Hinson, 22, Laquine Denby, 23, and Arshan McGee, 25, all of Atlantic City sustained leg wounds while attending a large party at the motel. According to police, the victims heard the shot, but did not observe the shooter.
http://www.shorenewstoday.com/snt/news/index.php/egg-harbor-twp/eht-general-news/53025-3-shot-in-leg-during-weekend-party-at-west-atlantic-city-motel.html
Quote: JimmerI am trying to stay in AC for one night on Saturday, July 26th. Being a lowly Gold TR member means the cheapest room at one of their properties is about $300, which is on par with everyone else. Can anyone suggest a good place for two guys to crash that is safe, and fairly close to Harrah's and Borgata? Really hoping to go, but no way I can dish out that much for a room.
Golden Nugget?
Definitely not the Taffy as I'm told.Quote: JimmerI am trying to stay in AC for one night on Saturday, July 26th. Being a lowly Gold TR member means the cheapest room at one of their properties is about $300, which is on par with everyone else. Can anyone suggest a good place for two guys to crash that is safe, and fairly close to Harrah's and Borgata? Really hoping to go, but no way I can dish out that much for a room.
Quote: JimmerI am trying to stay in AC for one night on Saturday, July 26th. Being a lowly Gold TR member means the cheapest room at one of their properties is about $300, which is on par with everyone else. Can anyone suggest a good place for two guys to crash that is safe, and fairly close to Harrah's and Borgata? Really hoping to go, but no way I can dish out that much for a room.
you can probably get some rooms in Absecon (such as the Red Roof there) for about $170-200, but I wouldn't necessarily characterize them as close.
Those that are in AC proper that are cheaper than $200, are typically not 'clean" (ie expect significant dirt and possible infestations).
Its just the way it is in AC during the summer. If there is any way to stay on a Friday or Sunday night instead, it would be much more cost effective.
Good luck
Quote: JimmerI am trying to stay in AC for one night on Saturday, July 26th. Being a lowly Gold TR member means the cheapest room at one of their properties is about $300, which is on par with everyone else. Can anyone suggest a good place for two guys to crash that is safe, and fairly close to Harrah's and Borgata? Really hoping to go, but no way I can dish out that much for a room.
Saturday, July 26th - HOTWire has 3.5 star Downtown Atlantic City area- 85% recommended- $190 (reg $330)- If you read the reviews Carefully & compare the amenities of 3.5 star named hotels on Expedia, you can probably figure out which hotel it is
Workers Vote For Union At Atlantic City’s Revel
ATLANTIC CITY, N.J. (CBS) – Workers at Atlantic City’s newest casino have voted to join a union, meaning all 11 casinos in the city are now unionized.
Employees at Revel Casino Hotel voted late Friday to join Local 54 of the Unite-HERE union by a margin of about 80 percent to 20 percent.
But it could also complicate efforts for the struggling casino to find a buyer or a joint venture partner. Revel, which has been losing money since it opened in April 2012, is also considering a second Chapter 11 bankruptcy filing. It emerged from Chapter 11 last year with vastly reduced debt but continued to struggle to gain market share in the crowded northeast casino market.
http://philadelphia.cbslocal.com/2014/06/07/workers-vote-for-union-at-atlantic-citys-revel/
This was my first trip to Revel in a while and I have to say things are better there. I'm sure may of you experienced the "attitude" for the first year or so they were open. It seems mostly gone. The staff I dealt with were all very nice. As were the dealers and pit personal. Which was definitely not the case early on. Additionally their new players card program finally seems to work. In my opinion the previous three (or was it four) versions of their players card program sucked out loud. But it's now much easier to earn and actually use comps. So in summary Revel may finally be getting some stuff right. Finally.
On an unrelated note. I stopped by the Trump Plaza for 5 minutes...ugh...they are making no effort. The smell of death is lingering there.
Quote: vendman1I was just at Revel June 2-4 and there was a pro-union tent staffed 24hrs a day on the boardwalk just down the beach from Revel. I asked them what they were up to and they said they were trying to get Revel employees to vote union. Guess it worked.
This was my first trip to Revel in a while and I have to say things are better there. I'm sure may of you experienced the "attitude" for the first year or so they were open. It seems mostly gone. The staff I dealt with were all very nice. As were the dealers and pit personal. Which was definitely not the case early on. Additionally their new players card program finally seems to work. In my opinion the previous three (or was it four) versions of their players card program sucked out loud. But it's now much easier to earn and actually use comps. So in summary Revel may finally be getting some stuff right. Finally.
On an unrelated note. I stopped by the Trump Plaza for 5 minutes...ugh...they are making no effort. The smell of death is lingering there.
they will finally get things right, then a new company will buy them and change everything again and the cycle will continue.
The union has been chomping at the bit to get their hand in the employees pocket sine before Revel opened
Just my opinion
An Atlantic City casino does not have to pay $US1.5 million ($A1.62 million) won by a group of gamblers who realised the cards had not been shuffled, and can move to recover more than $US500,000 it already paid them, a US judge has ruled.
Superior Court judge James Isman ruled that because the cards had been unshuffled, that made the game of mini-baccarat in April 2012 illegal under state casino rules.
"We were 100 per cent vindicated by Judge Isman's ruling," the Golden Nugget said in a statement.
A lawyer for several of the defendants declined to comment.
Fourteen players racked up $US1.5 million in winnings over 41 straight hands when they realised the cards were coming out in a specific pattern.
Many of them quickly upped their bets from $US10 a hand to $US5000.
The problem was that a Kansas City playing card manufacturer that sold decks of cards guaranteed to have been pre-shuffled did not do so in this case.
The company, Gemaco, admitted in court it had erred in providing cards to the casino.
A Golden Nugget lawyer said a confidentiality agreement it had reached with the card company prevented him commenting on the lawsuit's disposition.
The casino sued the 14 gamblers for the return of money paid out and sought to be absolved from having to redeem the outstanding chips.
The players countersued, alleging, among other things, that the casino illegally detained them.
The illegal detention claim remains pending.
A preliminary court ruling two years ago went against the casino, which said it would appeal. But hours later, owner Tilman Fertitta overrode his lawyers and said the casino would pay the remainder of the disputed winnings. That deal fell apart days later when some of the gamblers refused to dismiss their claims against the Golden Nugget.
"Remarkably, and despite this generous proposal, the gamblers and their lawyers steadfastly refused, and selfishly wanted more damages than just the gambling winnings," the casino said in its statement.
"Instead of walking away with over a $US1.5 million win, the gamblers must now return all of their gambling chips to the Golden Nugget. There are obvious lessons to be learned by all sides as a result of this incident. Unfortunately for the gamblers, it cost them over $US1.5 million."
In Friday's ruling, Isman dismissed a racketeering count against the casino.
Read more at http://news.ninemsn.com.au/world/2014/06/14/11/04/us-casino-not-liable-for-unshuffled-cards#zDgaWyOhdJKqp1Ks.99
ATLANTIC CITY (AP) — A northern New Jersey man’s penchant for cheating at craps has earned him a lengthy prison sentence.
Derek Bethea was sentenced to 17 years in state prison on Friday after a jury found him guilty of cheating at three Atlantic City casinos last summer. The incidents occurred weeks after Bethea had been released from prison on a previous cheating conviction.
After a weeklong trial last month, Bethea was convicted of swindling and cheating at casino gambling. Prosecutors introduced evidence that showed the 57-year-old Bayonne resident had posted bets at the craps tables after the dice had already come out. The incidents occurred at the Borgata, Resorts and Revel casinos last August.
Bethea was convicted in 2001 and 2005 for similar crimes.
http://www.trentonian.com/general-news/20140613/nj-man-sentenced-to-17-years-for-casino-cheating
Quote: 7star4nowGolden Nugget not liable for unshuffled cards
An Atlantic City casino does not have to pay $US1.5 million ($A1.62 million) won by a group of gamblers who realised the cards had not been shuffled, and can move to recover more than $US500,000 it already paid them, a US judge has ruled.
Superior Court judge James Isman ruled that because the cards had been unshuffled, that made the game of mini-baccarat in April 2012 illegal under state casino rules.
"We were 100 per cent vindicated by Judge Isman's ruling," the Golden Nugget said in a statement.
A lawyer for several of the defendants declined to comment.
Fourteen players racked up $US1.5 million in winnings over 41 straight hands when they realised the cards were coming out in a specific pattern.
Many of them quickly upped their bets from $US10 a hand to $US5000.
The problem was that a Kansas City playing card manufacturer that sold decks of cards guaranteed to have been pre-shuffled did not do so in this case.
The company, Gemaco, admitted in court it had erred in providing cards to the casino.
A Golden Nugget lawyer said a confidentiality agreement it had reached with the card company prevented him commenting on the lawsuit's disposition.
The casino sued the 14 gamblers for the return of money paid out and sought to be absolved from having to redeem the outstanding chips.
The players countersued, alleging, among other things, that the casino illegally detained them.
The illegal detention claim remains pending.
A preliminary court ruling two years ago went against the casino, which said it would appeal. But hours later, owner Tilman Fertitta overrode his lawyers and said the casino would pay the remainder of the disputed winnings. That deal fell apart days later when some of the gamblers refused to dismiss their claims against the Golden Nugget.
"Remarkably, and despite this generous proposal, the gamblers and their lawyers steadfastly refused, and selfishly wanted more damages than just the gambling winnings," the casino said in its statement.
"Instead of walking away with over a $US1.5 million win, the gamblers must now return all of their gambling chips to the Golden Nugget. There are obvious lessons to be learned by all sides as a result of this incident. Unfortunately for the gamblers, it cost them over $US1.5 million."
In Friday's ruling, Isman dismissed a racketeering count against the casino.
Read more at http://news.ninemsn.com.au/world/2014/06/14/11/04/us-casino-not-liable-for-unshuffled-cards#zDgaWyOhdJKqp1Ks.99
Man, I so disagree with this outcome....this is dirty pool dude! The casino and the company that they employ to pre shuffle the cards offered a game to their patrons that was compromised due to the lack of procedures by the casino as well as the shuffling company (again, employed by the casino) and the judge decides that the casino did nothing wrong?????
I must be missing something but this sets an incredibly bad precedence in my mind.......casinos can now get away with not checking cards from issuers and simply claim "we didn't know".....
This is laughable.........
I think the players were stupid for contesting the settlement but really to me this decision makes zero sense. When DOES the casino get held liable for its action or inaction?
Quote: 7star4nowNJ man sentenced to 17 years for casino cheating
ATLANTIC CITY (AP) — A northern New Jersey man’s penchant for cheating at craps has earned him a lengthy prison sentence.
Derek Bethea was sentenced to 17 years in state prison on Friday after a jury found him guilty of cheating at three Atlantic City casinos last summer. The incidents occurred weeks after Bethea had been released from prison on a previous cheating conviction.
After a weeklong trial last month, Bethea was convicted of swindling and cheating at casino gambling. Prosecutors introduced evidence that showed the 57-year-old Bayonne resident had posted bets at the craps tables after the dice had already come out. The incidents occurred at the Borgata, Resorts and Revel casinos last August.
Bethea was convicted in 2001 and 2005 for similar crimes.
http://www.trentonian.com/general-news/20140613/nj-man-sentenced-to-17-years-for-casino-cheating
Wow, 17 YEARS for past-posting? Seems a little harsh. Bank robbers sometimes get less than 17 years. People who kill people sometimes get less than 17 years.
I don't think any non-violent crime should get that long a sentence.
Quote: TomspurMan, I so disagree with this outcome....this is dirty pool dude! The casino and the company that they employ to pre shuffle the cards offered a game to their patrons that was compromised due to the lack of procedures by the casino as well as the shuffling company (again, employed by the casino) and the judge decides that the casino did nothing wrong?????
I must be missing something but this sets an incredibly bad precedence in my mind.......casinos can now get away with not checking cards from issuers and simply claim "we didn't know".....
This is laughable.........
I think the players were stupid for contesting the settlement but really to me this decision makes zero sense. When DOES the casino get held liable for its action or inaction?
yeah this is an absolutely horrible ruling. So a casino can "accidentally" have a bad shoe and when the people win too much they can say oops, our bad. Did GN get a fine from the gaming board for running an illegal game?
I think a savy lawyer should be able to come up with a 2nd lawsuit now. If the ruling said the game was illegal then people who played should be able to sue because they were providing an illegal game. Or maybe even against the card manufacturer.
The view seems to be the casinos are supposed to make money, and when something occurs that changes that outcome, well it is deemed unfair, or incorrect, and the casinos are allowed a free redo.
Quote: 7star4nowGolden Nugget not liable for unshuffled cards
An Atlantic City casino does not have to pay $US1.5 million ($A1.62 million) won by a group of gamblers who realised the cards had not been shuffled, and can move to recover more than $US500,000 it already paid them, a US judge has ruled.
Superior Court judge James Isman ruled that because the cards had been unshuffled, that made the game of mini-baccarat in April 2012 illegal under state casino rules.
"We were 100 per cent vindicated by Judge Isman's ruling," the Golden Nugget said in a statement.
A lawyer for several of the defendants declined to comment.
Fourteen players racked up $US1.5 million in winnings over 41 straight hands when they realised the cards were coming out in a specific pattern.
Many of them quickly upped their bets from $US10 a hand to $US5000.
The problem was that a Kansas City playing card manufacturer that sold decks of cards guaranteed to have been pre-shuffled did not do so in this case.
The company, Gemaco, admitted in court it had erred in providing cards to the casino.
A Golden Nugget lawyer said a confidentiality agreement it had reached with the card company prevented him commenting on the lawsuit's disposition.
The casino sued the 14 gamblers for the return of money paid out and sought to be absolved from having to redeem the outstanding chips.
The players countersued, alleging, among other things, that the casino illegally detained them.
The illegal detention claim remains pending.
A preliminary court ruling two years ago went against the casino, which said it would appeal. But hours later, owner Tilman Fertitta overrode his lawyers and said the casino would pay the remainder of the disputed winnings. That deal fell apart days later when some of the gamblers refused to dismiss their claims against the Golden Nugget.
"Remarkably, and despite this generous proposal, the gamblers and their lawyers steadfastly refused, and selfishly wanted more damages than just the gambling winnings," the casino said in its statement.
"Instead of walking away with over a $US1.5 million win, the gamblers must now return all of their gambling chips to the Golden Nugget. There are obvious lessons to be learned by all sides as a result of this incident. Unfortunately for the gamblers, it cost them over $US1.5 million."
In Friday's ruling, Isman dismissed a racketeering count against the casino.
Read more at http://news.ninemsn.com.au/world/2014/06/14/11/04/us-casino-not-liable-for-unshuffled-cards#zDgaWyOhdJKqp1Ks.99
The Judge's bio per Google:
"James E. Isman is a superior court judge for Vicinage 1 Superior Court, serving Atlantic and Cape May counties in New Jersey.[1] He was appointed to the court by former Governor Christine Todd Whitman on July 7, 1998 and was re-appointed on March 21, 2005. Isman now has job tenure until his mandatory retirement at the age of seventy in 2017.
Education
Isman received his B.A. degree in history from Franklin & Marshall College in 1969 and his J.D. degree from the Georgetown University Law Center in 1972."
With his TENURE & a good excuse ("illegal game of mini-bac" because of unshuffling or "sorting"), the judge can rule in favor of the casino without the fear of getting "laid off". So the gamblers have to return all their winnings, ouch! Likewise, Ivey might have to return his winnings to Borgata too if his case would ever be ruled by the same judge, i.e., unshuffling is illegal, so is "sorting" in the eye of the same judge.
Ivey's case
That could include talking, drinking and even breathing. "Just leave all your money on the felt and please leave. Thank you." And they wonder why they are hemorrhaging business!Quote: FortalezoThe judge can rule in favor of the casino without the fear of getting "laid off". So the gamblers have to return all their winnings, ouch! Likewise, Ivey might have to return his winnings to Borgata too if his case would ever be ruled by the same judge, i.e., unshuffling is illegal, so is "sorting" in the eye of the same judge.
Victim "gained his freedom by insisting that he could obtain money for his attacker on the casino floor.":
"A New York State man was convicted of impersonating an FBI agent inside an Atlantic City casino-hotel last year in order to gain entry to a hotel room and rob the occupant, Acting Atlantic County Prosecutor Jim McClain announced.
On March 1, 2013 at 3:49 a.m., Atlantic City Police responded to the Borgata Hotel and Casino for a report of a strong-arm robbery that had occurred inside the hotel/casino. Richard Kozakiewicz, of Greensburg, PA, reported that he had been ordered to open his hotel-room door by a man who displayed a badge and identified himself as an FBI agent. Kozakiewicz reported that, once inside, the man demanded money and physically assaulted him when he tried to escape the room.
Kozakiewicz gained his freedom by insisting that he could obtain money for his attacker on the casino floor. Once in the casino, the man took a $500 casino chip from the victim before Kozakiewicz alerted a casino employee to call security.
With the assistance of Borgata Security, police located and arrested Jonathan P. Zembreski, then 32, of the 100 block of Vernon Place, East Northport, NY, inside the casino. Zembreski was charged with robbery and impersonating a public servant or law enforcement officer, and lodged in the Atlantic County Justice Facility on $200,000 bail set by Municipal Court Judge Henry Warner. Zembreski posted bail later and was released, pending court.
This morning, before Atlantic County Superior Court Judge Michael Donio, a jury found Zembreski guilty of robbery—a 2nd degree crime, burglary—a 3rd degree crime, and impersonating a law enforcement officer, a 4th degree crime.
Judge Donio revoked Zembreski’s bail, and ordered him lodged in the Atlantic County Justice Facility. Zembreski is scheduled to be sentenced on July 31, 2014.
A 2nd degree crime carries a potential penalty of 5-10 years of incarceration in New Jersey State Prison. A 3rd degree crime carries a potential penalty of 3-5 years imprisonment; the potential jail sentence for a 4th degree crime is up to 18 months.
Assistant Prosecutor Julie Horowitz represented the State in the case."
http://www.nbc40.net/story/25792853/ny-man-found-guilty-for-2013-strong-arm-robbery-at-borgata
"Shuttered Atlantic City Casino That Nine Years Ago Fetched $500 Million, Sells Now For $13.5 Million"
"The property was sold late last month, but the price was undisclosed at the time, the report said."
http://www.cardplayer.com/poker-news/17404-shuttered-atlantic-city-casino-that-nine-years-ago-fetched-500-million-now-sold-for-13-5-million
I wondering if the parent company made money from a credit default swap letting this go. I read a story once where a hedge fund paid a casino to default by a day so them could collect on their deal. The price is so cheap I have to wonder about manipulations and motivations behind the scenes. Speaking of the bankruptcy sale-oops.Quote: 7star4nowAtlantic Club sales price revealed...
"Shuttered Atlantic City Casino That Nine Years Ago Fetched $500 Million, Sells Now For $13.5 Million"
"The property was sold late last month, but the price was undisclosed at the time, the report said."
http://www.cardplayer.com/poker-news/17404-shuttered-atlantic-city-casino-that-nine-years-ago-fetched-500-million-now-sold-for-13-5-million
Quote: onenickelmiracleI wondering if the parent company made money from a credit default swap letting this go. I read a story once where a hedge fund paid a casino to default by a day so them could collect on their deal. The price is so cheap I have to wonder about manipulations and motivations behind the scenes. Speaking of the bankruptcy sale-oops.
As you allude to, something certainly doesn't pass the smell test with the CZR sale of AC Club & Claridge to TJM Properties .
Certainly, TJM Properties sole business plan , if sanity were an issue, could not be to sell "ice cubes to Eskimos".
To invest $25mil in inferior properties, in a declining market , where premium casino rooms are hard to give away, more than raises eyebrows.
The only explanation I see is that some form of the manipulation, you mention, is going on here.
Quote: 7star4nowAs you allude to, something certainly doesn't pass the smell test with the CZR sale of AC Club & Claridge to TJM Properties .
Certainly, TJM Properties sole business plan , if sanity were an issue, could not be to sell "ice cubes to Eskimos".
To invest $25mil in inferior properties, in a declining market , where premium casino rooms are hard to give away, more than raises eyebrows.
The only explanation I see is that some form of the manipulation, you mention, is going on here.
I don't know anything about this, so am only speculating. However, at least as far back as big 3 automakers, large companies buy up competitors and innovative technology only to own and kill it. In a declining market, it makes good business sense to buy out a competitor at rock-bottom prices and ensure no new competitor rises on the ashes. After doing that, in the case of the Atlantic Club, you have a large empty building with huge tax and insurance liabilities lying fallow. So you sell it for non-competitive use to a buyer, for pennies on the dollar, in order not to have the building on the books eating up overhead money and not generating revenue. Take a short-term loss on the flip, but strengthen your overall market by killing a competitor. Long-term, it makes a lot of sense to me.
Quote: beachbumbabsI don't know anything about this, so am only speculating. However, at least as far back as big 3 automakers, large companies buy up competitors and innovative technology only to own and kill it. In a declining market, it makes good business sense to buy out a competitor at rock-bottom prices and ensure no new competitor rises on the ashes. After doing that, in the case of the Atlantic Club, you have a large empty building with huge tax and insurance liabilities lying fallow. So you sell it for non-competitive use to a buyer, for pennies on the dollar, in order not to have the building on the books eating up overhead money and not generating revenue. Take a short-term loss on the flip, but strengthen your overall market by killing a competitor. Long-term, it makes a lot of sense to me.
All true but the $25 million question is:
-what's in it for the buyer, TJM Properties?
Press reports mentioned that CZR was trying to negotiate a non - gaming covenant on the sale of the properties.
One would think that would have been a matter of public record as recorded on the deeds.
What if however, in conjunction with the sale of the properties, CZR were to setup a private option, with a flunky buyer, such as (fictional)l:
Immediately after the sale, CZR pays $10 million per property, in consideration, for the option to repurchase the properties for $1, should the properties be re-licensed as casinos.
In something like that scenario ,TJM Properties effectively would have bought both properties for $5 million vs $25million (hard to believe anyone who controlled that many $ could be that stupid, $25million, besides Christie's pension fund cronies - who lit 1.5 billion $ on fire via Revel)
New Jersey State Sen. Ray Lesniak says he’ll be placing a bet — legally — on the NFL, one way or another.
On Monday, if the U.S. Supreme Court accepts the state’s sports betting appeal, Lesniak is confident a ruling will clear the way for legalized sports betting in the Garden State.
If the Supreme Court declines, Lesniak is prepared to introduce legislation that would amend state law and sanction sports betting in N.J.’s racetracks and Atlantic City casinos in time for Week 1 of the NFL season. And he expects it to pass and be signed into law by Gov. Chris Christie.
“I’m not saying ‘One day.’ I’m saying September,” Lesniak said Thursday on WFAN’s “Boomer & Carton” show. “We’re going ahead, kind of just like Colorado and Washington went ahead with legalized marijuana.”
http://newyork.cbslocal.com/2014/06/19/on-wfan-n-j-lawmaker-says-sports-betting-to-move-ahead-regardless-of-outcome/
Congratulations to the State of New Jersey for surpassing prior AC debacles like the Hilton Marina and the Playboy. And we see how hard they have been trying for an even dumber record with Trump Plaza and the Revel.Quote: 7star4now"Shuttered Atlantic City Casino That Nine Years Ago Fetched $500 Million, Sells Now For $13.5 Million"
(Reuters) - Atlantic City's troubled Revel Casino Hotel on Thursday filed its second bankruptcy in just over a year and said it is hunting for a buyer.
The casino, which had gone through Chapter 11 bankruptcy in March 2013, warned employees on Thursday that it would lay them all off beginning on Aug. 18 if it could not find a buyer, according to a letter sent to staff, a copy of which was obtained by Reuters.
http://www.reuters.com/article/2014/06/19/gambling-new-jersey-revel-idUSL2N0P021820140619
Quote: 7star4nowRevel Hotel In Atlantic City Warns Workers It May Close In 2 Months
(Reuters) - Atlantic City's troubled Revel Casino Hotel on Thursday filed its second bankruptcy in just over a year and said it is hunting for a buyer.
The casino, which had gone through Chapter 11 bankruptcy in March 2013, warned employees on Thursday that it would lay them all off beginning on Aug. 18 if it could not find a buyer, according to a letter sent to staff, a copy of which was obtained by Reuters.
http://www.reuters.com/article/2014/06/19/gambling-new-jersey-revel-idUSL2N0P021820140619
Unless this is just another inexplicable exercise in "Revelnomics" how does this letter make any sense???
So, Revel assumed no employee had a social networking acct & word would not get out?
So, Revel assumed customers would continue to make advance reservations - despite the fact they assert their property is likely to close, directly affecting the their potential sales leverage to a potential buyer?
Am I missing something?
How does this make any sense- unless Revel had zero bids -from zero buyers?
Quote: 7star4nowRevel Hotel In Atlantic City Warns Workers It May Close In 2 Months
(Reuters) - Atlantic City's troubled Revel Casino Hotel on Thursday filed its second bankruptcy in just over a year and said it is hunting for a buyer.
The casino, which had gone through Chapter 11 bankruptcy in March 2013, warned employees on Thursday that it would lay them all off beginning on Aug. 18 if it could not find a buyer, according to a letter sent to staff, a copy of which was obtained by Reuters.
http://www.reuters.com/article/2014/06/19/gambling-new-jersey-revel-idUSL2N0P021820140619
The link takes you to Reuters, but the content has been taken down.
Quote: beachbumbabsThe link takes you to Reuters, but the content has been taken down.
try this-
http://in.reuters.com/article/2014/06/19/us-gambling-new-jersey-revel-idINKBN0EU2PO20140619
Shortly after distributing the letters, Revel filed a Chapter 11 petition in federal bankruptcy court, its second in as many years. Revel said it hopes to find a buyer quickly. - See more at: http://www.northjersey.com/news/business/revel-casino-warns-it-will-close-without-buyer-1.1038414#sthash.Tot5l3QL.dpuf
http://www.northjersey.com/news/business/revel-casino-warns-it-will-close-without-buyer-1.1038414
Quote: beachbumbabsThanks for that. I guess Reuter's must've been pressured to take the actual letter down, which was what I wanted to read after your references to it. They did acknowledge they had it, but the details you reported are mostly not there any more. Glad you saw it at least; interesting.
BBB, are you sure you just didn't click the wrong link?
If you click the link in the post where 7star is quoting himself, this is what you clicked:
http://www.reuters.com/article/2014/06/19/gambling-new-jersey-revel-idUSL2N0P021820140619%3C/div%3E%3C/blockquote%3E
It's a bug in the formatting here. Has nothing to do with Reuters. The article remains at http://www.reuters.com/article/2014/06/19/gambling-new-jersey-revel-idUSL2N0P021820140619
Was there ever a copy of the actual letter? Unless I misread his post, I don't think 7stars implied the link went to the letter.
Quote: TomspurMan, I so disagree with this outcome....this is dirty pool dude! The casino and the company that they employ to pre shuffle the cards offered a game to their patrons that was compromised due to the lack of procedures by the casino as well as the shuffling company (again, employed by the casino) and the judge decides that the casino did nothing wrong?????
I must be missing something but this sets an incredibly bad precedence in my mind.......casinos can now get away with not checking cards from issuers and simply claim "we didn't know".....
This is laughable.........
I think the players were stupid for contesting the settlement but really to me this decision makes zero sense. When DOES the casino get held liable for its action or inaction?
It's just insanity. That judge must have had an agenda or something....I hope they appeal and contract the services of Bob N. I can just hear him getting upset on GWAE about this completely ridiculous decision.
Quote: 7star4nowUnless this is just another inexplicable exercise in "Revelnomics" how does this letter make any sense???
So, Revel assumed no employee had a social networking acct & word would not get out?
So, Revel assumed customers would continue to make advance reservations - despite the fact they assert their property is likely to close, directly affecting the their potential sales leverage to a potential buyer?
Am I missing something?
How does this make any sense- unless Revel had zero bids -from zero buyers?
I have a thought on this matter. What if Revel does have a buyer but they are trying to low ball them on the value of the deal. Revel is getting mad and wants the deal to go ahead but is running out of ideas. Now they think perhaps if they threaten this group with having the employees sent down the road, that might force their hands?
Remember it costs money to employ people. If you have to re-hire a whole glut of people that could cost you a fair penny......
That would explain the "leaking" of the document through their employees?
This company should just truly be wiped off the face of the earth. They are bad business people but moreover they seem to be asbolutely morally corrupt.
Quote: TomspurI have a thought on this matter. What if Revel does have a buyer but they are trying to low ball them on the value of the deal. Revel is getting mad and wants the deal to go ahead but is running out of ideas. Now they think perhaps if they threaten this group with having the employees sent down the road, that might force their hands?
Remember it costs money to employ people. If you have to re-hire a whole glut of people that could cost you a fair penny......
That would explain the "leaking" of the document through their employees?
This company should just truly be wiped off the face of the earth. They are bad business people but moreover they seem to be asbolutely morally corrupt.
More info from Thursday's Revel Bankruptcy hearing would seem to back up your theory. Revel is cornered & this appears to be a "poison pill" chess move to get a potential buyer off the fence, using employees as a pawn.
Essentially they are saying (as you imply), stop the bleeding us into a slow death. Show us the money now, or deal with no trained workforce in place, or one that will be losing it's best employees to compettors every day you wait us out.
"The reality of the Revel situation today is that Revel has lost this year alone $75 million," John Cunningham, a White & Case attorney who represents the casino, told Judge Gloria Burns. "Even in peak summer season, Revel losses $2 million a week and relies on borrowed funds."
"Revel had been close to an agreement for an unidentified party to act as an initial bidder in an auction the company intends to hold in early August."
"It's time for bidders who have expressed interest to put their money where their mouth is and participate in the process," Cunningham told the court.
http://in.reuters.com/article/2014/06/20/gambling-newjersey-revel-ac-idINL2N0P111U20140620
While some may want to use it's unparalleled failure as an excuse to rekindle the "tastes great/less filling" shtick of a non smoking casino debate , for their own questionable motivations, smokers represented only a piece of the general population the CEO turned off - well before the place even opened.
When you put together, what he said, in his own words, he managed to condescendingly turn off, the majority of potential customers with disparaging remarks towards some aspect of their background, lifestyles or tastes:
Revel 's talking points on How to win friends & influence people in the gaming business.
A future Harvard Business School case study of positive Marketing?:
Low rollers:
Revel will not compete hard for the convenience gambler, who comes to town, plays for an hour or two, then leaves."That's not a customer we can survive on," he said. "It's just not going to happen. "
guests who can only visit (1) nite:
"We need an overnight stay. We're looking for two nights."
Union workers:
“Local 54 has tried as hard as it could to kill this project,”... “I have nothing to talk to them about."
Smoking patrons:
"so yesterday"
Buffet aficionados:
"mass feederies"
High rollers:
Revel will not have a players lounge.
Wonder why a lot of people didn't feel "welcome" at Revel?
Even after they reversed these policies, many players did not feel comfortable giving them their play, since the majority of players falls into one or more of the demographics Revel ITSELF said it looked down on.
It appears to be , as was (jokingly?) speculated , due to the fact that they haven't paid their electricity bills- to the tune of $10million!:
"It has steep operating costs, including $3 million a month under a burdensome contract with the energy company that runs its power plant.
“This is a melting ice cube,” Cunningham (Revel's Lawyer) said."
"That energy company, ACR Energy Partners, is the largest creditor listed in the casino’s bankruptcy filing, with a claim of nearly $10 million."
http://www.nj.com/business/index.ssf/2014/06/revel_casino_is_a_melting_ice_cube_lawyer_tells_banruptcy_judge.html
Quote: 7star4nowMystery solved: Why has the rooftop ball of Revel not been illuminated for months?
It appears to be , as was (jokingly?) speculated , due to the fact that they haven't paid their electricity bills- to the tune of $10million!:
"It has steep operating costs, including $3 million a month under a burdensome contract with the energy company that runs its power plant.
“This is a melting ice cube,” Cunningham (Revel's Lawyer) said."
"That energy company, ACR Energy Partners, is the largest creditor listed in the casino’s bankruptcy filing, with a claim of nearly $10 million."
It looks like it's partially on though. Like 95% broken but a few random lights shine on.
