Atlantic City Open Forum
rumor has it that yesterday's super secret "gaming summit" which featured the "great political minds of NJ" managed to agree on one concrete resolution in an effort to change the City's "Nanny State" image propagated by Revel.
Revel Boulevard will be renamed "So Yesterday street".
The Mensa group could not come to an agreement on which street should be renamed "Mass Feedery Way"
ATLANTIC CITY, New Jersey — New Jersey casino regulators are letting MGM Resorts back into the Atlantic City casino market
The Casino Control Commission voted Wednesday to let MGM keep its 50 percent ownership of the Borgata
http://www.dailyjournal.net/view/story/2e02b8c4196342d98feefabb31735d26/NJ--MGM-Borgata/
http://6abc.com/news/harrahs-atlantic-city-guest-claims-excessive-force/303312/
1) It offers the best slots, i.e., it's the only casino that gets the most single-zero roulette slots... 6 sets of them!
2) It offers the best bj games, i.e., the $25 6-deck-games, 13 tables, 24/7!
3) It's the only casino that offers $5 blackjack 24/7!
4) It gives the best easy perks, i.e., the $10 buffet, a free room for 2 nights, 2 free tickets for a show, free WiFi in the nice cafeteria, and
5) It does't use the $5~$50 sign to restrict APs. BTW, Trump Plaza Casino uses that $5~$50 sign frequently, and it won only $4,864,634 (the least, see below) from gamblers.
Now what other reasons have I missed? Feel free to add onto the above list.
Oh sh*t! NJ DGE has already knocked off Showboat Casino from the above monthly financial report. Revel will be next... then Taj! What a shame!
Quote:It does't use the $5~$50 sign to restrict APs
Maybe I have heard it another way, what is a $5-$50 sign? Mid deck entry limits?
Quote: PokeraddictMaybe I have heard it another way, what is a $5-$50 sign? Mid deck entry limits?
The sign is not a mid-deck-entry-limits, but it's a sneaky way to "ban" APs. You see... in your neck of the woods (LV), casinos can ban APs at will, but not in NJ due to the case of Uston v. Resorts International Hotel, Inc.
The sign really means in plain English: all losers are OK to bet up $3,000 except for APs who are restricted to bet up to $50, get it?
Quote: ArtemisBorgata, the King of AC, is still the leader in winnings. In August, it won $65,897,698 from gamblers (See the spreadsheet below). Hmm... I wonder why Borgata has been the leader of the pack for years? How about you guys tell the readers why? Reasons could be...???
1) It offers the best slots, i.e., it's the only casino that gets the most single-zero roulette slots... 6 sets of them!
2) It offers the best bj games, i.e., the $25 6-deck-games, 13 tables, 24/7!
3) It's the only casino that offers $5 blackjack 24/7!
4) It gives the best easy perks, i.e., the $10 buffet, a free room for 2 nights, 2 free tickets for a show, free WiFi in the nice cafeteria, and
5) It does't use the $5~$50 sign to restrict APs. BTW, Trump Plaza Casino uses that $5~$50 sign frequently, and it won only $4,864,634 (the least, see below) from gamblers.
Now what other reasons have I missed? Feel free to add onto the above list.
I will add that Borgata is a well maintained casino and hotel, always nice and clean and in top shape.
Quote: ArtemisBorgata, the King of AC, is still the leader in winnings. In August, it won $65,897,698 from gamblers (See the spreadsheet below). Hmm... I wonder why Borgata has been the leader of the pack for years? How about you guys tell the readers why? Reasons could be...???
1) It offers the best slots, i.e., it's the only casino that gets the most single-zero roulette slots... 6 sets of them!
2) It offers the best bj games, i.e., the $25 6-deck-games, 13 tables, 24/7!
3) It's the only casino that offers $5 blackjack 24/7!
4) It gives the best easy perks, i.e., the $10 buffet, a free room for 2 nights, 2 free tickets for a show, free WiFi in the nice cafeteria, and
5) It does't use the $5~$50 sign to restrict APs. BTW, Trump Plaza Casino uses that $5~$50 sign frequently, and it won only $4,864,634 (the least, see below) from gamblers.
Now what other reasons have I missed? Feel free to add onto the above list.
Oh sh*t! NJ DGE has already knocked off Showboat Casino from the above monthly financial report. Revel will be next... then Taj! What a shame!
I would add - NOT run by Gary Loveman.
Is it just a coincidence that all his casinos in AC have been declining, year after year, despite his competitve multiple casino edge, while Borgata prospers?
Quote: ArtemisBorgata, the King of AC, is still the leader in winnings. In August, it won $65,897,698 from gamblers (See the spreadsheet below). Hmm... I wonder why Borgata has been the leader of the pack for years? How about you guys tell the readers why? Reasons could be...???
1) It offers the best slots, i.e., it's the only casino that gets the most single-zero roulette slots... 6 sets of them!
2) It offers the best bj games, i.e., the $25 6-deck-games, 13 tables, 24/7!
3) It's the only casino that offers $5 blackjack 24/7!
4) It gives the best easy perks, i.e., the $10 buffet, a free room for 2 nights, 2 free tickets for a show, free WiFi in the nice cafeteria, and
5) It does't use the $5~$50 sign to restrict APs. BTW, Trump Plaza Casino uses that $5~$50 sign frequently, and it won only $4,864,634 (the least, see below) from gamblers.
Now what other reasons have I missed? Feel free to add onto the above list.
Oh sh*t! NJ DGE has already knocked off Showboat Casino from the above monthly financial report. Revel will be next... then Taj! What a shame!
Add to the list? Sure. It's also the easiest to get to, has the highest room count, and has the biggest gaming floor. Borgata is great. But let's not pretend that the $5-$50 sign is responsible for the difference between Borgata's win and the Plaza's win. That insinuation is so foolish that it detracts from the other points in your post.
It points out that if Caesars’ gets away with this, it could impact the capital structures of many other cos. in similar circumstances - which is why I think the court can't let CZR get away with it.
"If this tactic is allowed to stand, deals that disenfranchise some bondholders in favor of others could become common...the spat has troubling implications for corporate-bond investors everywhere."
It doesn't discuss the possibly more likely outcome that CZR's tactics are not allowed to stand, & how they could be unwound short of full bankruptcy & asset liquidation & the impact on 3 remaining CZR casinos in AC.
CZR is burning cash so fast that something has to give very soon.
Caesars’ Debt: A Game of Dealer’s Choice
http://www.nytimes.com/2014/09/14/business/caesars-debt-a-game-of-dealers-choice.html?_r=0
Extremely interesting and sure to become a legal precedent for how debt transactions are handled in the future. Oh, how I would love to be working for a firm billing Caesars or, alternatively, the bondholders right now...Quote: 7star4nowThis new NYT article does the the best job pf explaining the Great Caesars’ Debt shell game, which some see as a last gasp "Hail Mary", to avoid total bankruptcy.
It points out that if Caesars’ gets away with this, it could impact the capital structures of many other cos. in similar circumstances - which is why I think the court can't let CZR get away with it.
"If this tactic is allowed to stand, deals that disenfranchise some bondholders in favor of others could become common...the spat has troubling implications for corporate-bond investors everywhere."
It doesn't discuss the possibly more likely outcome that CZR's tactics are not allowed to stand, & how they could be unwound short of full bankruptcy & asset liquidation & the impact on 3 remaining CZR casinos in AC.
CZR is burning cash so fast that something has to give very soon.
Caesars’ Debt: A Game of Dealer’s Choice
http://www.nytimes.com/2014/09/14/business/caesars-debt-a-game-of-dealers-choice.html?_r=0
Quote: rdw4potusQuote: ArtemisBorgata, the King of AC, is still the leader in winnings. In August, it won $65,897,698 from gamblers (See the spreadsheet below). Hmm... I wonder why Borgata has been the leader of the pack for years? How about you guys tell the readers why? Reasons could be...???
1) It offers the best slots, i.e., it's the only casino that gets the most single-zero roulette slots... 6 sets of them!
2) It offers the best bj games, i.e., the $25 6-deck-games, 13 tables, 24/7!
3) It's the only casino that offers $5 blackjack 24/7!
4) It gives the best easy perks, i.e., the $10 buffet, a free room for 2 nights, 2 free tickets for a show, free WiFi in the nice cafeteria, and
5) It does't use the $5~$50 sign to restrict APs. BTW, Trump Plaza Casino uses that $5~$50 sign frequently, and it won only $4,864,634 (the least, see below) from gamblers.
Now what other reasons have I missed? Feel free to add onto the above list.
Oh sh*t! NJ DGE has already knocked off Showboat Casino from the above monthly financial report. Revel will be next... then Taj! What a shame!
Add to the list? Sure. It's also the easiest to get to, has the highest room count, and has the biggest gaming floor. Borgata is great. But let's not pretend that the $5-$50 sign is responsible for the difference between Borgata's win and the Plaza's win. That insinuation is so foolish that it detracts from the other points in your post.
The Borgata management knows how to think outside of the box. They care about the little things (such as the foolish $50 sign) which can be added up to big things...like winnings.
Here are some comparisons of the "little things" between the Borgata & the Trump
Borgata Trump
1 It allows players to bet up to $3,000 on its $25 six-deck games. 1 It uses the foolish $5~$50 sign to restrict AP-Wannabes to bet up to $50.
It indirectly chases the Wannabes out to the Borgata.
2 It only charges $5 on the room taxes. 2 It charges $15 on the room taxes.
3 It offers $25 six-deck games. 3 It did, but took down those games long time ago.
4 It charges $5 for parking fee. 4 It recently charges $20 for parking fee.
Re: price gouching during special events, ie., Miss America Pageant
5 It "lay-offs" dealers who badger players for tips 5 No comments :-)
Quote: ArtemisQuote: rdw4potusQuote: ArtemisBorgata, the King of AC, is still the leader in winnings. In August, it won $65,897,698 from gamblers (See the spreadsheet below). Hmm... I wonder why Borgata has been the leader of the pack for years? How about you guys tell the readers why? Reasons could be...???
1) It offers the best slots, i.e., it's the only casino that gets the most single-zero roulette slots... 6 sets of them!
2) It offers the best bj games, i.e., the $25 6-deck-games, 13 tables, 24/7!
3) It's the only casino that offers $5 blackjack 24/7!
4) It gives the best easy perks, i.e., the $10 buffet, a free room for 2 nights, 2 free tickets for a show, free WiFi in the nice cafeteria, and
5) It does't use the $5~$50 sign to restrict APs. BTW, Trump Plaza Casino uses that $5~$50 sign frequently, and it won only $4,864,634 (the least, see below) from gamblers.
Now what other reasons have I missed? Feel free to add onto the above list.
Oh sh*t! NJ DGE has already knocked off Showboat Casino from the above monthly financial report. Revel will be next... then Taj! What a shame!
Add to the list? Sure. It's also the easiest to get to, has the highest room count, and has the biggest gaming floor. Borgata is great. But let's not pretend that the $5-$50 sign is responsible for the difference between Borgata's win and the Plaza's win. That insinuation is so foolish that it detracts from the other points in your post.
The Borgata management knows how to think outside of the box. They care about the little things (such as the foolish $50 sign) which can be added up to big things...like winnings.
Here are some comparisons of the "little things" between the Borgata & the Trump
Borgata Trump
1 It allows players to bet up to $3,000 on its $25 six-deck games. 1 It uses the foolish $5~$50 sign to restrict AP-Wannabes to bet up to $50.
It indirectly chases the Wannabes out to the Borgata.
2 It only charges $5 on the room taxes. 2 It charges $15 on the room taxes.
3 It offers $25 six-deck games. 3 It did, but took down those games long time ago.
4 It charges $5 for parking fee. 4 It recently charges $20 for parking fee.
Re: price gouching during special events, ie., Miss America Pageant
5 It "lay-offs" dealers who badger players for tips 5 No comments :-)
This is part of the TRUE unwritten story of what doomed AC, nickle & diming core customers, imagining they could have the "sex appeal" to non gamers that Vegas has, driving their players to local slot parlors.
They acted like they as if they were Kate Upton, but customers saw them as forever Rosie O'Donnell.
It's amazing given all the pointy headed reporters covering ACs demise, most of whom never stepped foot in a Casino , a red flag never pops into their mind saying:
"wait a minute...I'm printing all these hand fed excuses about poor old AC - What exactly is this "Bore- gothca"? place I know nothing about -who is raking in cash in AC?
Quote: soxfanHmmm, I wonder what the chances are that market forces will be allowed to prevail in the AC, hey hey?
As Ed McM would say, "You are correct, sir".
"Market forces" & NJ politics, are polar opposites, which currentlly brings AC to its knees
"I left Atlantic City years ago, good timing. Now I may buy back in, at much lower price, to save Plaza & Taj. They were run badly by funds!"
This is like the Captain of the Titanic bragging that he missed another iceberg before the big one:
"In 1988, Trump acquired the Taj Mahal Casino in a transaction with Merv Griffin and Resorts International.
This expansion, both personal and business, led to mounting debt. Much of the news about him in the early 1990s involved his much publicized financial problems, creditor-led bailout, extramarital affair with Marla Maples (whom he later married), and the resulting divorce from his first wife, Ivana Trump.
By 1989, poor business decisions left Trump unable to meet loan payments. Trump financed the construction of his third casino, the $1 billion Taj Mahal, primarily with high-interest junk bonds. Although he shored up his businesses with additional loans and postponed interest payments, by 1991 increasing debt brought Trump to business bankruptcy and to the brink of personal bankruptcy. Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid the risk of losing more money in court. The Taj Mahal re-emerged from bankruptcy on October 5, 1991, with Trump ceding 50 percent ownership in the casino to the original bondholders in exchange for lowered interest rates on the debt and more time to pay it off."
http://en.wikipedia.org/wiki/Donald_Trump
(interesting topic from TA board, I refer to it here since that thread will likely disappear soon)
from Borgata Director of marketing :
"There are no significant changes planned for how complimentary rooms are offered to My Borgata Rewards customers. Both Borgata and The Water Club will continue to be priced, either at full, discount, or complimentary rates, according to booking patterns and an individual customer’s level of play. As with all hotels, room availability can become more limited for last minute bookings. That being said, Borgata offers 2,800 hotel rooms, more than any hotel in Atlantic City – and so can accommodate many more visitors on any given night, including weekends."
http://www.tripadvisor.com/ShowTopic-g29750-i78-k7801205-Borgata_Changes_Coming-Atlantic_City_New_Jersey.html
This seems to completely sidestep the premise of info obtained by the OP, which had nothing to do with how many rooms BG has ,or would comp.
The info was limited to how the same number of room comps would be distributed , the "pecking order", given the likelyhood that a number of higher tier customers would move their play to BG due to AC closings.
ie, if I am a decent black card player who is near the bubble ADT- wise to get Sat nite rooms , doesn't the math dictate I will lose that on a sold out Sat nite if 2-300 higher players come over?
Doesn't the ADT threshold (or whatever BG uses) for each room comp level have to change if they anticipate more competition for rooms among players?
Quote: 7star4nowWill Borgata continue to comp rooms, without regard to supply & demand?
This seems to completely sidestep the premise of info obtained by the OP, which had nothing to do with how many rooms BG has ,or would comp.
The info was limited to how the same number of room comps would be distributed , the "pecking order", given the likelyhood that a number of higher tier customers would move their play to BG due to AC closings.
ie, if I am a decent black card player who is near the bubble ADT- wise to get Sat nite rooms , doesn't the math dictate I will lose that on a sold out Sat nite if 2-300 higher players come over?
Doesn't the ADT threshold (or whatever BG uses) for each room comp level have to change if they anticipate more competition for rooms among players?
Of course it does, but they are not going to say that to risk upsetting those who feel they are owed something for minimal play. Look at the one lady on there who complains about the everything from the buffet being closed on weekdays to the amount of smoke. By her own admission she only plays penny slots at the minimum and then expects the world. Borgata didnt get to where they are without making smart business decisions and they for the most part have done them better than anyone else in AC by far.
By the way, the original poster of that topic is one of the very few still over there who has a decent grasp of how things work in AC and the business world. Not sure if he posts here, but he does reference this forum sometimes.
Atlantic City casinos are closing, in Connecticut they've laid off workers and even relative success story Pennsylvania has seen two years of slow decline.
Yet people are rolling the dice more than ever before at Sands casino in Bethlehem. Table games players lost $17.7 million at Sands in August — the most pulled in by a Pennsylvania casino since the state legalized table games in 2010.
Experts say it's found a niche that hasn't been greatly affected by the economy or competition from the next state. By marketing itself heavily in the Asian neighborhoods of New York, Sands has developed an Asian customer base like few others in the nation. For example, it has 50 tables featuring the Asian-popular game baccarat — more than any other casino in the nation, according to gaming experts.
As a result, more than 50 buses carrying more than 3,000 gamblers from New York neighborhoods of Flushing, Chinatown and Brooklyn flow into the Sands every day.
"They're doing some bang-up numbers in Bethlehem," said Shawn McCloud, vice president of analysis for New Jersey-based Spectrum Gaming Group, which follows gambling and leisure nationwide. "Their table games business just keeps growing. It's incredible. No one else is even close."
http://www.mcall.com/news/local/bethlehem/mc-pa-tables-games-sands-20140916-story.html
Quote: 7star4now"How Sands Casino is beating the odds at the tables
Atlantic City casinos are closing, in Connecticut they've laid off workers and even relative success story Pennsylvania has seen two years of slow decline.
Yet people are rolling the dice more than ever before at Sands casino in Bethlehem. Table games players lost $17.7 million at Sands in August — the most pulled in by a Pennsylvania casino since the state legalized table games in 2010.
Experts say it's found a niche that hasn't been greatly affected by the economy or competition from the next state. By marketing itself heavily in the Asian neighborhoods of New York, Sands has developed an Asian customer base like few others in the nation. For example, it has 50 tables featuring the Asian-popular game baccarat — more than any other casino in the nation, according to gaming experts.
As a result, more than 50 buses carrying more than 3,000 gamblers from New York neighborhoods of Flushing, Chinatown and Brooklyn flow into the Sands every day.
"They're doing some bang-up numbers in Bethlehem," said Shawn McCloud, vice president of analysis for New Jersey-based Spectrum Gaming Group, which follows gambling and leisure nationwide. "Their table games business just keeps growing. It's incredible. No one else is even close."
http://www.mcall.com/news/local/bethlehem/mc-pa-tables-games-sands-20140916-story.html
The newspapers bragged how good Sands was. I took a look at Sands' winnings and compared that of Borgata. Who's the king of AC & PA? Take a look at the comparison and draw your own conclusion (hint: Borgata won more than Sands by $22,273,544 in August).
Aug Aug
Slots Table
Winnings Winnings Total Casinos
$44,346,398 $21,551,300 $65,897,698 Borgata
$25,923,613 $17,700,541 $43,624,154 Sands
$18,422,785 $3,850,759 $22,273,544 Borg over Sands
AC casinos' winnings
PA casinos' slots winnings
PA casinos' table winnings
Quote: rdw4potusACE has spare transmission capacity. Obviously, the city itself is more constrained than the rest of Atlantic County, but it's not an inaccessible market. Market rates for firm fixed forward deliveries to ACE's zone are $80/MWh all in. During operations, Revel's usage was only about 8000MWh/month, and it's a fraction of that now. Other than for emergency backup, why did they build a cogeneration plant? Who pays $3MM/month to avoid market costs of $800k/month? Any number of reputable companies could perform O&M on a cogen unit in AC for a reasonable fee. The going rate is not $3MM/month. There's no way that the winning bid in a competitive bidding process was $3MM/month. I wonder what other Revel contracts were wildly above market prices?
Over my head, however:
From what I gather,is itsafe to say that Glenn Straubs 's stated goal of making AC a study for collection sites for nuclear waste disposal, via his Revel acquisition, may be constrained by utility costs?
Sounds like a completely corrupt contract.Quote: rdw4potusACE has spare transmission capacity. Obviously, the city itself is more constrained than the rest of Atlantic County, but it's not an inaccessible market. Market rates for firm fixed forward deliveries to ACE's zone are $80/MWh all in. During operations, Revel's usage was only about 8000MWh/month, and it's a fraction of that now. Other than for emergency backup, why did they build a cogeneration plant? Who pays $3MM/month to avoid market costs of $800k/month? Any number of reputable companies could perform O&M on a cogen unit in AC for a reasonable fee. The going rate is not $3MM/month. There's no way that the winning bid in a competitive bidding process was $3MM/month. I wonder what other Revel contracts were wildly above market prices?
Oh wait, they don't have those in Atlantic City...?
Quote: Mission146Golden Nugget AC is run by brilliant marketing strategists, it looks like they retained a huge number of players from that card/tier matching campaign earlier this year.
"Golden Nugget -
"REVEL, SHOWBOAT &TRUMP PLAZA CARDHOLDERS ,PLUS ANY first time TRADE UPS
•One tier upgrade
• A Free Buffet" (Premier trade ups must earn 25 Tier Points)
In order to remain your tradeup card status, you must earn the following points within 3 months:
• Premier = 1,000 Tier Points
• Chairman = 2,500 Tier Points
• Elite = 12,500 Tier Points
a 1 time free room would be most effective -IMO
http://www.goldennugget.com/AtlanticCity/pdf/GNAC_TradeUp_flyer.pdf
Yes, Borgata had the best trade up promotion to Black card -- $100 free play, $20 food credit, and a free night to use within 30 days. That was awesome :)Quote: 7star4now"Golden Nugget -
"REVEL, SHOWBOAT &TRUMP PLAZA CARDHOLDERS ,PLUS ANY first time TRADE UPS
•One tier upgrade
• A Free Buffet" (Premier trade ups must earn 25 Tier Points)
In order to remain your tradeup card status, you must earn the following points within 3 months:
• Premier = 1,000 Tier Points
• Chairman = 2,500 Tier Points
• Elite = 12,500 Tier Points
a 1 time free room would be most effective -IMO
http://www.goldennugget.com/AtlanticCity/pdf/GNAC_TradeUp_flyer.pdf
Quote: teddysYes, Borgata had the best trade up promotion to Black card -- $100 free play, $20 food credit, and a free night to use within 30 days. That was awesome :)
That was for NEW players only.
The last time I played in the Borgata was 2007. They said I wasn't a NEW player and they would not upgrade me.
Quote: Bozhttp://www.pressofatlanticcity.com/news/press/casinos_tourism/special_report/revel-s-design-broke-the-mold-that-brings-casinos-success/article_e7f88e4c-4104-11e4-9b5a-5b81baba3554.html
Perhaps the best story on why Revel failed from the start. Great read if you have time. Bottom line is Kevin hired a designer who "hated" casinos. And he agreed with most of what she said.
And he still doesnt know why it failed.
Note he was "unavailable" for comment for this story.
Tried to read the article, couldn't get past the picture. I'd say yet to anything that chick said...no matter how bad it made my casino.
Quote: FatGeezusThat was for NEW players only.
The last time I played in the Borgata was 2007. They said I wasn't a NEW player and they would not upgrade me.
I had that same experience a couple of years ago. I remember getting a Borgata card the year they opened. I maybe played there once (this was when I would go with family as a day trip to the shore). Fast forward to 2012 and they said as I had already signed up for a card, they would not match my tier on my then TR Diamond card.
- Internet gaming win was $10.5 million in August.
- Gaming (incl internet) was $289.9 million in August 2014 compared to the $263.6 million in casino win for August 2013.
- Current Operators reported casino win of $279.4 million in August 2014, reflecting a 6.0% increase compared to August 2013.
- Six casino hotels reported an increase in casino win between 2.3% and 46.3% for August 2014.
+46.3% Tropicana (also highest in absolute numbers. Up $21m to $31m)
+34.0% Golden Nugget
+5.2% Borgata
+2.3% Resorts
+18.4% Harrah's
+16.3% Caesars
-1.1% Bally's AC
Evil Empire is up 6% from last year with Showboat closing on 31 August. Next months sales will show if they are able to retain the money from showboat.
- August 2014 -- August 2013
H $38,927,093 $32,877,327 18.40%
C $43,895,557 $37,734,280 16.33%
B $25,715,044 $26,004,826 -1.11%
S $15,063,185 $19,961,188 -24.54%
T $123,600,879 $116,577,621 6.02%
Taj Mahal is down -$6.1% .
All total it looks like Tropicana was the big winner. Up $10m. Icahn seems as if he never loses, EVER.
Marketing the Atlantic Club list. I only played there once for thirty minutes and am offered cheap rooms at Tropicana during the week. I had never been at Trop.Quote: FroggerWhat is Trop doing to get all the business?
Quote: 7star4nowA University/ski resort that happens to have a beach & a casino- pure genius? Are his targeted " "Arabians" " allowed to gamble (or ski for that matter)?
Of course not. But a bunch of them drive over the causeway to Bahrain on weekends to party in the bars.
The question is will they fly 4152 miles to Singapore on an existing flight on Saudia for US$439+ $40.77 taxes (round trip) and gamble, or fly the additional distance (6603 miles) to Atlantic city for the quality.
"ATLANTIC CITY — Atlantic City Electric Co. is threatening to turn off the power at the bankrupt Trump Taj Mahal Casino Resort unless it is paid for its service, according to a newly filed court document.
The utility is asking the U.S. Bankruptcy Court in Delaware to order the Taj Mahal’s parent company, Trump Entertainment Resorts Inc., to pay an amount equal to two months of electricity “or face the potential loss of service after 30 days,” the document says.
Under court order, Atlantic City Electric continues to provide power to the casino hotel as Trump Entertainment moves through the bankruptcy process. However, the utility is asking the bankruptcy court to lift that order and force Trump Entertainment to pay “an amount of assurance”
http://www.pressofatlanticcity.com/news/breaking/electric-company-threatens-to-turn-off-power-at-bankrupt-taj/article_90626ce4-482e-11e4-9022-6fad241b71ab.html
Quote: 1BBWho owns the volleyball court between Revel and Showboat? Is it the city?
"land owned by the Atlantic City Housing Authority and leased by the Casino Reinvestment Development Authority and nonprofit Atlantic City Alliance."
volleyball? ok -but another "non gaming" pipe dream/distraction that AC mngmt focused on - vs working to make their core business world class
September 09, 2012
"This is another great amenity for Atlantic City," said Don Marrandino, Caesars Entertainment Eastern Division president, who appeared with Atlantic City Mayor Lorenzo Langford and other officials Friday. "We envision bringing in professional and national teams to compete in tournaments.They will book rooms here and fill the restaurants," he said. "I can see us attracting crowds of 5,000 to 6,000 for these tournaments."
http://articles.philly.com/2012-09-09/business/33697403_1_atlantic-city-alliance-showboat-boardwalk
http://www.nbcphiladelphia.com/news/local/New-Bidder-Pledges-94-Million-for-Closed-Revel-Casino-277602931.html
http://nypost.com/2014/09/30/two-more-atlantic-city-casinos-may-declare-bankruptcy/
Quote: 7star4nowNY POST- 6 AC casinos soon? -No more Bally & Ceasars AC? Harrah's may be last CZR Casino in AC?
http://nypost.com/2014/09/30/two-more-atlantic-city-casinos-may-declare-bankruptcy/
Wouldn't there be 5 casinos remaining?
Borgata
Harrahs
GN
Resorts
Trop
Wouldn't 7 of the 12 have closed?
Atlantic Club
Revel
Showboat
Plaza
Taj
Ballys
Caesars
I suppose it's not surprising that the NY Post would make an arithmetic error...
Quote: rdw4potusWouldn't there be 5 casinos remaining?
Borgata
Harrahs
GN
Resorts
Trop
Wouldn't 7 of the 12 have closed?
Atlantic Club
Revel
Showboat
Plaza
Taj
Ballys
Caesars
I suppose it's not surprising that the NY Post would make an arithmetic error...
Maybe they think the last Trump won't be sounded....
Quote: beachbumbabsMaybe they think the last Trump won't be sounded....
That is pun-tastic!
Total Rewards is no longer owned exclusively by the group that owns these 2 casinos.
In "restructuring" (or bankruptcy), Ceasars & Ballys AC could become the property of junior creditors, who just lost their exclusive customer base .
On top of that, CZR has put in a poison pill which transfers any proceeds Ballys & Ceasars AC junior creditors gain from suits against CZR for fraudulently transferring assets between its companies , to first-lien bond holders.
"In one of the most heated battles in Atlantic City, Black’s Apollo Global Management won a major victory over David Tepper — getting the okay from state regulators to transfer control of the highly valued player loyalty rewards program from its money-losing Caesars Entertainment into a new sister company.
The transfer, to Caesars Enterprise Services, takes it outside the reach of Tepper’s Appaloosa Management — a move Tepper fought long and hard to prevent.
Appaloosa is a junior creditor of Caesars Entertainment, which owns Bally’s Atlantic City and Caesars Atlantic City, two down-on-their-heels casinos.
If Apollo put Bally’s and Caesars into Chapter 11 reorganization, the loyalty program could have given Appaloosa and other junior creditors some leverage.
Without it, the junior creditors are likely to get little return, sources close to the situation said.
The decision by New Jersey gaming regulators to allow the transfer — released Sept. 26 — increases the likelihood of a bankruptcy filing by the two casinos, sources said.
In addition to winning the right to transfer the loyalty program, Caesars announced last week that any proceeds creditors gain from suits against Caesars for fraudulently transferring assets between its companies would go first to first-lien bond holders."
http://nypost.com/2014/09/29/caesars-loyalty-ruling-a-win-for-leon-blacks-apollo/
http://www.northjersey.com/news/ex-meadowlands-sports-complex-chief-urges-swift-action-on-north-jersey-casino-gambling-1.1099496
Quote:Long term, yeah, I think AC can and will re-grow with good asset and neighborhood renewal.
You're an optimist, and perhaps not too well versed on the recent history of Atlantic City.
Politicians have yapped since the seventies about how casinos will revitalize AC, and how the area around the casinos (i.e., ghetto) will change.
Never happened, doubt it ever will.
After all, it's New Jersey.
The issue is the ship has sailed on making AC a resort destination.
