AC: Taj Closing
Quote: Artemis
BTW, Carl's flagship-Tropicana Casino is almost deserted too when compared to that of Borgata. Recently I was in both Brogata and Tropicana in search of our beloved-Mr. Lemieux66. I didn't see Mr. Lemieux66, but I was taken aback to find:
1) Borgata's poker room was somewhat busy during a weeknight. It got 150 poker players.
2) On the other hand, Trop's poker room lacked of any poker players. All the poker tables were closed up. However, there were 1 supervisor and 1 dealer stood behind the manager's counter. I asked the supervisor if the poker room was closed. He replied: "the poker room is open, but you need to wait for 1 more poker player before the dealer can open up a poker game." I said no thanks, and I left.
We were at both Trop and Borgata on Monday. Borgata wasn't exactly jamming, but Trop was really dead.
What I think is a shame is that the City Walk is really nice, much nicer than the Tropicana. It's too good for Atlantic City.
Quote: JackStraw8004Icahn gave into every Union concession. The whole thing is a scam. The state is bailing out the casino. The legislation isn't going to be passed until January because they want to appear independent in what Icahn wanted in the form of tax breaks. I still say the lost business isn't coming back. AC is going to have to face 5 more casinos taking money out of their pockets. MGM Baltimore Inner Harbor. Philly Live at Broad and Pattison next to the stadiums ( If you live in South Philly are you going to cross the Walt Whitman and drive 60 miles to gamble or drive 5 minutes to Philly Live) the three upstate NY casinos.
Quote: FroggerTaj stays open!
Thanks for the good news. Per NY Post, Gov. Chris Christie & gaming czar Jon Hanson have broken the stalemate among Taj, Icahn, and the Union#54. Here is the deal:
1) The Union workers get the usual goodies and keep their pensions, health-care-insurances, & paid-breaks.
2) In addition to his mega loans, Icahn will pump more-life-saving-cash ( in the millions$$$) into Taj. Then he exchanges all his loans for the ownership of Taj.
3) Taj Casino stays open just like Trop. (Icahn also saved Trop in 2009. Do you guys remember it?)
Taj survives and stays open, just like Tropicana
12/18/2014 3:12pm
Update: Deal or no deal?
No deal! Per NBC40 news: "Thursday afternoon that news changed as Bob McDevitt, President of UNITE HERE Local 54 released a statement saying that Carl Icahn has "gone back on his commitment.""
http://www.nbc40.net/story/27660108/icahn-saves-taj-mahal-report-says
Per THE WALL STREET JOURNAL: "Trump Taj Mahal deal falls apart, union says"
http://www.marketwatch.com/story/trump-taj-mahal-deal-falls-apart-union-says-2014-12-18
In exchange for that, Taj supposed to get $150 mil for renovations from the state.
"It’s still unclear what will happen to proposed legislation to give the Taj roughly $150 million in subsidies that would help renovate the casino. The Post reported that state Senate President Stephen Sweeney (D-West Deptford) was expected to propose the legislation Thursday in exchange for Icahn providing the cash to keep the resort open.The newspaper said Jon Hanson, Gov. Chris Christie’s top adviser on sports and gaming, brokered the deal."
http://www.njbiz.com/article/20141218/NJBIZ01/141219778/Deal-could-save-Trump-Taj-Mahal-report-says
Quote: MrsHeartRNI've been a loyal Taj patron for about 10 years. I have always gotten generous comps for my play, weekend rooms through out the year, concerts, bonus slot dollars and gifts. I too am ecstatic that the Taj will remain open, especially for the wonderful workers who I've met over the years but I agree it might be too little, too late. With the threat of closure every 5 minutes people were/are afraid to gamble there for fear of having to forfeit comps earned. I know I gambled other places within the past few months to potentially obtain weekend comp rooms and elevate my tier potential at other properties. Taj has to get their act together if they are going to win back and gain new players. The table games are WAY to high, $10 and $15 tables on a Monday at 8am will not bring in players or even keep existing players and the slots are old and tired. Resorts right next door has $5 tables even on Saturday nights. I like to know if I'm not getting cards I can lower my bet to $5 and let my bankroll hold me until the cards change.....and they always do
Just wanted to say WELCOME to this forum. From your posts over at the AC Forum, I know you can add a lot to the discussion here and hope you stick around. It can be a tough crowd, but there are many good people here with huge knowledge levels that we all learn from.
http://www.nbc40.net/story/27660108/icahn-saves-taj-mahal-report-says
Quote: 7star4now"As the Taj turns", "Local 54 says Icahn backs out of Taj deal"
http://www.nbc40.net/story/27660108/icahn-saves-taj-mahal-report-says
You couldn't write this stuff if you tried.
Pit and slot personell and those that do the drop.
I just checked the Taj website. A couple of hours ago they removed the closing information now it is back on there. It's the same stuff as before with the union letter. They didn't make any modifications but they had to put the closing notice back up and this was the easiest way to do it.
BTW, just got a postcard in the mail for an invitation to a medical symposium at the Carl Icahn School of Medicine at Mt. Sinai in NYC.....got a little throw-up in my mouth on that one....can't even bring myself to respond. (yes I'm a degenerate gambler with a long memory)
Quote: 7star4nowIt sounds like Icahn's $100 mil is for continued operating costs.
In exchange for that, Taj supposed to get $150 mil for renovations from the state.
"It’s still unclear what will happen to proposed legislation to give the Taj roughly $150 million in subsidies that would help renovate the casino. The Post reported that state Senate President Stephen Sweeney (D-West Deptford) was expected to propose the legislation Thursday in exchange for Icahn providing the cash to keep the resort open.The newspaper said Jon Hanson, Gov. Chris Christie’s top adviser on sports and gaming, brokered the deal."
http://www.njbiz.com/article/20141218/NJBIZ01/141219778/Deal-could-save-Trump-Taj-Mahal-report-says
So it "appeared" the shell game was Icahn vs the Union, but when you follow the money, it was Icahn vs Sweeney - the union's hero. He wanted to play Santa Claus (which explains the union's silence - to not steal his thunder), a politician seen saving jobs on TV news shows - just before Christmas.
I think Icahn is just hedging his bet now until Sweeney officially delivers the $150mil.
Quote: 7star4nowSo it "appeared" the shell game was Icahn vs the Union, but when you follow the money, it was Icahn vs Sweeney - the union's hero. He wanted to play Santa Claus (which explains the union's silence - to not steal his thunder), a politician seen saving jobs on TV news shows - just before Christmas.
I think Icahn is just hedging his bet now until Sweeney officially delivers the $150mil.
What a freakin mess...this just further reduces the chances of saving the Taj...keeping it open on a shoestring and/or threatening to close it have driven away all the business. Either put together a deal to save it...or let it go under. This constant life support BS is ridiculous.
Quote: vendman1What a freakin mess...this just further reduces the chances of saving the Taj...keeping it open on a shoestring and/or threatening to close it have driven away all the business. Either put together a deal to save it...or let it go under. This constant life support BS is ridiculous.
A big joke. Icahn exposed as the biggest fraud sine Balloon Boy and those geniuses who "found" the finger in the chili at Wendy's.
With a bankrupt pension plan, which he and his party refuse to tackle, Sweeney is going to run for governor on bailing out f****** Icahn?
Good luck.
Confused about the balloon boy reference.Quote: bobsimsA big joke. Icahn exposed as the biggest fraud sine Balloon Boy and those geniuses who "found" the finger in the chili at Wendy's.
With a bankrupt pension plan, which he and his party refuse to tackle, Sweeney is going to run for governor on bailing out f****** Icahn?
Good luck.
Quote: onenickelmiracleConfused about the balloon boy reference.
When the balloon was recovered without the boy inside, people naturally assumed that he fell out, as it didn't occur to people that the parents were lying. After the boy was found inside the family home they got a CNN interview.
You can see on this video that the boy screwed up his lines, and the father has to try and redirect the conversation.
Even Wolf Blitzer doesn't push home the point, pretending that he didn't understand the very clear words of the boy.
But afterwards Wolf tried to follow up.
Quote: onenickelmiracleDefinitely remember that balloon boy. Balloon boy is the proper term for him, but I was thinking autoimmune diseased type balloon boy such as on Seinfeld or the movie called Balloon Boy. Thanks y'all.
I believe that is bubble boy.
You are correct. Funny thing not only have I made this mistake repeatedly, I've done it before the same way here on the forum. Mental block for some reason, but not sure why.Quote: beerseasonI believe that is bubble boy.
Trump Taj Mahal is taking steps to make sure people know it's staying open as the casino's employees are celebrating the news.With new cars in the lobby and a new message on the website, the Taj Mahal is open for business and plans to remain that way for the foreseeable future.Employees say two new Mazdas were moved into the lobby Friday as part of a promotion, giving away 10 cars in two days on December 30th and 31st.A $25,000 "almost New Years" slot tournament is also advertised on the casino's website.Plans are also said to be in the works for a New Year's Eve party.
http://www.nbc40.net/story/27675018/taj-employees-celebrate-staying-open
Quote: 7star4nowTaj employees celebrate staying open
Trump Taj Mahal is taking steps to make sure people know it's staying open as the casino's employees are celebrating the news.With new cars in the lobby and a new message on the website, the Taj Mahal is open for business and plans to remain that way for the foreseeable future.Employees say two new Mazdas were moved into the lobby Friday as part of a promotion, giving away 10 cars in two days on December 30th and 31st.A $25,000 "almost New Years" slot tournament is also advertised on the casino's website.Plans are also said to be in the works for a New Year's Eve party.
http://www.nbc40.net/story/27675018/taj-employees-celebrate-staying-open
I'm so confused!
Will Taj be planning to close, as it says on its huge sign by the Taj's entrance? The sign has been taken down, then re-popped up, then removed again.
Or will Taj be staying open, as it says on its website currently?
12/20/2014 2:17pm
Update:
"The endangered Trump Taj Mahal in Atlantic City, N.J., is expected to remain open through the weekend while lawyers work to complete a $20 million lifeline from billionaire Carl Icahn ." by wsj.com
http://www.wsj.com/articles/trump-taj-mahal-expected-to-remain-open-for-now-1419023044
12/22/2014 3:32pm
More update:
"...Taj...could stay open for all of 2015 with a $20 million financing package..."
Read more: http://www.businessinsider.com/r-icahns-money-could-keep-atlantic-city-casino-open-another-year-lawyer-2014-12#ixzz3Mf2TOO1n
12/28/2014 3:43pm
More update:
Chronology of shuttering casinos
Read more: http://abcnews.go.com/US/wireStory/2014-timeline-atlantic-citys-battered-casinos-27863625
Quote: GWAEWe are going to monsterjam in NJ on June 13th. We were thinking about making a trip to AC after that for a few days. Is the temp warm enough for the beach yet? I assume air temp would be warm enough but will the ocean still be cold?
Yes, the Ocean water will still be cold but the beach should be fine, mid 70's or higher. But it can be higher or lower based on your luck. Also Casino pools such as Caesars will be open daily after Memorial Day.
Quote: GWAEWe are going to monsterjam in NJ on June 13th. We were thinking about making a trip to AC after that for a few days. Is the temp warm enough for the beach yet? I assume air temp would be warm enough but will the ocean still be cold?
Low 60s if you're lucky. I've seen mid 50s in July many times. Don't let that stop you. It's really invigorating and you don't want to miss it.
I was in AC last week right before Christmas but didn't get up the boardwalk that far. Just curious if there were more than 3 people in the casino?
Quote: vendman1Anybody been to the Taj since the, we are closing/no we're not/yes we are/no we are not, for 2015 anyway... fiasco?
I was in AC last week right before Christmas but didn't get up the boardwalk that far. Just curious if there were more than 3 people in the casino?
Of course, they still have employees there!
Quote: vendman1Anybody been to the Taj since the, we are closing/no we're not/yes we are/no we are not, for 2015 anyway... fiasco?
I was in AC last week right before Christmas but didn't get up the boardwalk that far. Just curious if there were more than 3 people in the casino?
I was there a few times before and after the alleged closing date of 12 /20, was a ghost town on Dec 23 with only 4 BJ tables open at 15 and $25 Respectively. The holiday rush brought some crowds,but the Mazda car drawing did not generate much.
Will go again this weekend to use up my Jan slot offers and such. Will give another update on Sunday!
Quote: JackStraw8004You think Taj's numbers are bad in November, wait till they post December's numbers I'll be shocked if the win is more than a couple of million unless the 4 or 5 customers that are in the casino everyday are losing hundreds of thousands of dollars.
Hey Jack, you're almost right. Taj's winnings in Dec were really bad for a mega casino. Its winnings dropped by 35% during December, see below for details.
Taj down 35%. Not a surprising. They were closing and then not closing. People surely reluctant to make reservations there. I suspect many long-term players there have already written them off.
Other than Taj, everyone with the exception of Caesars experienced an increase in casino win. You would expect this from a market that is consolidating.
But lets look at the lowest 3 (Taj aside, which had a unique set of circumstances). Next Lowest 3: as mentioned Caesars 6.15% loss, Bally's 5.4% gain and Harrah's 11.1% gain. Anyone see a connection here? The CET properties are at the bottom.
Quote: kewljThe AC Dec numbers are very interesting.
Taj down 35%. Not a surprising. They were closing and then not closing. People surely reluctant to make reservations there. I suspect many long-term players there have already written them off.
Other than Taj, everyone with the exception of Caesars experienced an increase in casino win. You would expect this from a market that is consolidating.
But lets look at the lowest 3 (Taj aside, which had a unique set of circumstances). Next Lowest 3: as mentioned Caesars 6.15% loss, Bally's 5.4% gain and Harrah's 11.1% gain. Anyone see a connection here? The CET properties are at the bottom.
It probably helps to look at the dollars, too. $1 is a bigger % of a small-shop's win than it is of a larger casino's win - Resorts increased $2mm, which is 21% of their win; Harrah's added $3mm, which was an 11% gain.
As for the Taj-it's a dump. Take a peek on the top of any machine there, you'll probably see gum from 2005.
Also total gaming revenue does tell the whole picture of how much revenue the overall property brought in or how much money was spent to chase after those gaming revenues. In the end, overall profitability is what matters to these companies.
not sure what's up his sleeve, but his motivation clearly does not look like it's to save TAJ
Quote: zoobrewThe real issue is that for another month the total AC market was down over 10%. Where is the bottom?
Also total gaming revenue does tell the whole picture of how much revenue the overall property brought in or how much money was spent to chase after those gaming revenues. In the end, overall profitability is what matters to these companies.
Agree. Casinos' bottom line $$$$$$$ talks, and bullsh*t (i.e., secondary statistics) walks. See below and compare the latest statements of Taj and Borg.
If you were a loan officer, which casino will you loan money to, Taj or Borg?
Taj's bottom line vs Borg's bottom line:
Quote: MrsHeartRNHow's that strategy of closing Showboat to increase your bottom line at your other AC Casino's working out for you CET and Loveman? Didn't take into account the demographic that frequented Showboat (not that that's a bad thing, I was a Showboater from way back) and also that so many were dissatisfied with CET as a whole. December numbers for CET speak volumes.
I was a showboatian but now I am not sure where to go. Was planning on taj but that plan looks bad. Maybe resorts? I thought about ballys, I just checked my calender and any Saturday in Feb is $329, what a joke.
Now this was pre-Revel. Revel was standing there towards the end of my AC time, stalled, fenced in. So out of the 3 north boardwalk properties, Resorts, Taj, and Showboat, it is really hard for me to believe that Resorts may be the one to survive out of those three. There just seems something wrong with THAT scenario. Back in my time in AC, it was Resorts that always seemed to be on it's deathbed, sometimes not paying it's mortgage with rumors of closing swirling.
Quote: GWAEI was a showboatian but now I am not sure where to go. Was planning on taj but that plan looks bad. Maybe resorts? I thought about ballys, I just checked my calender and any Saturday in Feb is $329, what a joke.
What's up with that? Had to go look at the calendar for me...comped any day but fri/sat, which is >$250/night every week. There's not THAT much demand difference between thurs/sun and fri/sat. Also, Bally's is the most expensive of the properties. That's crazy.
Edit: Sunday the 15th is not comped. Valentines hang-over day, I guess.
"We're staying open this week!"
-or-
"Don't miss "Taj - The final Chapter"- will it be a "7" or "11"?
I might try and put some play into Resorts, I've yet to decide if I want to have a real relationship with Caesar's, the whole ADT system has kind of screwed me over. That's a discussion for another time, if anyone has a picture or something they'd like from Taj, go ahead and PM me and I'll see what I can do.
Additionally, I received upwards of $70 in food comps for 12 or so hours of low green play action (although a bunch of that came from an intense craps session where my bets may have been inflated). I actually don't have to pay for food when I go to Taj, it's fucking awesome.
Also, turned $5 into $1800. Hard 8 progression of 5 > 50 (full parlay) > $200 (pocket $300) > $500 (pocket $1500). That last one is what I like to call a "god check". You just won a 1:1000 bet, why not see if you're 1:10000? I have never gotten past the $500 progression and understand that that single bet costs me $40. However, when that time happens, you know it's going to be a great weekend. They have a $25 S17(!) DAS, no surrender, no resplitting of aces game that takes up well over half of their overall blackjack action (4-8 tables open over a holiday weekend at any given time). I'll definitely have to play at the double deck S17 game when I'm in Vegas for the Super Bowl. It was a fun rule change from the norm that had some very notable effects on the game.
If you're betting on the game, please put money on the Pats' side. I want the best return I can get when the Hawks win. Thanks.
