dave12038457
dave12038457
Joined: Aug 16, 2014
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January 27th, 2015 at 1:20:01 PM permalink
Unfortunately I believe the Plaza is toast.
As said before a smallish casino with good clubs can really back em in.
With gambling in sharp decline in A.C. an increasing amount of revenue needs to come from rooms, food & drink and clubs.
I am having trouble seeing anything but a smallish place. Just to much overhead to be a viable property with a large building.
How about this......
The Shops at Caesar's. Floor to ceiling glass looking out over a well lit beach at night? Full of clubs, bars and resturaunts and a smallish casino?
ECoaster
ECoaster
Joined: Apr 21, 2014
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January 27th, 2015 at 1:42:46 PM permalink
Quote: Gandler

Did he say why?



According to press reports: The Plaza is apparently so run down that rebuilding would be just as cost-effective as renovating it.

However, since no one is going to invest or build a new casino in A.C. these days- the idea is to knock it down to have one less dark empty building on the boardwalk-- and in this case the open space would be used to create a connection to the beach / water for people just arriving in A.C. due to it's location.
Baccaratfrom79
Baccaratfrom79
Joined: Jan 12, 2015
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January 27th, 2015 at 2:07:22 PM permalink
Quote: 7star4now

Hard Rock LV (near chapter 11), is owned by Brookfield, Canada (who Backed out of Revel).

Seminole Tribe of Florida Hard Rock entity is at issue at Thurs hearing:

"2006- Seminole Tribe of Florida for $965 million bought Hard Rock business . Included in the deal were 124 Hard Rock Cafes, four Hard Rock Hotels, two Hard Rock Hotel and Casino Hotels, two Hard Rock Live! concert venues, and stakes in three unbranded hotels."

** The Hard Rock Hotel and Casino in Las Vegas was not part of the deal, as it was sold by Peter Morton to Morgans Hotel Group in May 2006.***

As part of the deal, MHG ** retained the rights to use the Hard Rock name for hotels and casinos in the Western United States and certain other territories**. Morgans operated the property and had a 12.8% equity partner in the venture along with DLJ Merchant Banking Partners until February 2011. At that time, ownership of the hotel was turned over to Brookfield,"



The real reason they did not purchase it or try to was there reputation with the Rehab Pool Party and Seminole did not like the bad publicity along with 9 or so major NGC violations including employee drug dealing and other serious criminal charges and investigations. The Seminoles sued Morgan's in NY Federal Court to debrand them. During the course of the suit, the Morgan's gave the property back to Credit Sussie that part it put for management. Seminole has their eye on a property with eventual entrance into the Vegas market.
Bac79=Hazardous Material and Chemical person correcting other's mistakes. Non AP'er, I can't count cards, low intelligence. Sprinkles magical dust on the cards. Has a lucky monkey. Baby also has a green one. Sum it up: "It's okay just blame me, it's all my fault"! ( No one believes me--so I chose to stop posting)
Intheknow
Intheknow
Joined: Jan 8, 2015
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January 27th, 2015 at 3:19:23 PM permalink
Tear down Trump and expand the Walk to Boardwalk is what Mayor stated (La la la la la while skipping down the boardwalk).

This city is so f 'd up. I call it the most under utilized City in the world. Where else can you have four towns on one 10 mile long island with multi million dollar property on one end and section 8 housing on the other end?

You can have a beach front condo in AC for 40k.
bobsims
bobsims
Joined: Apr 8, 2014
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January 27th, 2015 at 6:57:16 PM permalink
Quote: Intheknow

Tear down Trump and expand the Walk to Boardwalk is what Mayor stated (La la la la la while skipping down the boardwalk).

This city is so f 'd up. I call it the most under utilized City in the world. Where else can you have four towns on one 10 mile long island with multi million dollar property on one end and section 8 housing on the other end?

You can have a beach front condo in AC for 40k.



Yeah but the property tax is likely 20 grand a year.
Intheknow
Intheknow
Joined: Jan 8, 2015
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January 27th, 2015 at 7:45:05 PM permalink
Quote: bobsims

Yeah but the property tax is likely 20 grand a year.



Not after we declare bankruptcy.
7star4now
7star4now
Joined: Jul 8, 2013
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Baccaratfrom79
Baccaratfrom79
Joined: Jan 12, 2015
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January 29th, 2015 at 10:39:50 AM permalink
Quote: Intheknow

Tear down Trump and expand the Walk to Boardwalk is what Mayor stated (La la la la la while skipping down the boardwalk).

This city is so f 'd up. I call it the most under utilized City in the world. Where else can you have four towns on one 10 mile long island with multi million dollar property on one end and section 8 housing on the other end?

You can have a beach front condo in AC for 40k.



I cant remember the name of the building now for the life of me, but the condos that had a waiting line a mile long back in the 90's, the tall building just north of the old Bally's Grand. People from NYC scuffed most of the up and made huge profits, now I would imagine the prices are probably cut 6 to 8 times what they used to go for??? The tall 25 story building or so right on the boardwalk between Trop and the old Bally's Grand. One bedrooms and studios were well over $500k for a while I think.

Was it Ocean Club???
Bac79=Hazardous Material and Chemical person correcting other's mistakes. Non AP'er, I can't count cards, low intelligence. Sprinkles magical dust on the cards. Has a lucky monkey. Baby also has a green one. Sum it up: "It's okay just blame me, it's all my fault"! ( No one believes me--so I chose to stop posting)
Intheknow
Intheknow
Joined: Jan 8, 2015
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January 29th, 2015 at 10:53:53 AM permalink
Maybe the Ritz.
Baccaratfrom79
Baccaratfrom79
Joined: Jan 12, 2015
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January 29th, 2015 at 11:07:22 AM permalink
Yes it was the Ocean Club, looked it up. Ocean Club Condominiums. The two building with the huge square base on the bottom level.
Bac79=Hazardous Material and Chemical person correcting other's mistakes. Non AP'er, I can't count cards, low intelligence. Sprinkles magical dust on the cards. Has a lucky monkey. Baby also has a green one. Sum it up: "It's okay just blame me, it's all my fault"! ( No one believes me--so I chose to stop posting)

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