Mohegan Sun Buys Resorts AC
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August 8th, 2012 at 3:03:56 PM
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So the rumors are true.
Mohegan Sun president Mitch Etess is no stranger to Atlantic City having worked for Trump. His brother Mark was slated to be president of Taj Mahal when he was one of three Trump executives killed in a helicopter crash on the Garden State Parkway in 1989. The arena at the Taj bears his name.
Mohegan Sun president Mitch Etess is no stranger to Atlantic City having worked for Trump. His brother Mark was slated to be president of Taj Mahal when he was one of three Trump executives killed in a helicopter crash on the Garden State Parkway in 1989. The arena at the Taj bears his name.
Many people, especially ignorant people, want to punish you for speaking the truth. - Mahatma Ghandi
August 8th, 2012 at 3:09:26 PM
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What's to become of Pro Bar?
Someday, joor goin' to see the name of Googie Gomez in lights and joor goin' to say to joorself, "Was that her?" and then joor goin' to answer to joorself, "That was her!" But you know somethin' mister? I was always her yuss nobody knows it! - Googie Gomez
August 8th, 2012 at 3:32:54 PM
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Quote: s2dbakerWhat's to become of Pro Bar?
It will remain as fabulous as ever. :)
Many people, especially ignorant people, want to punish you for speaking the truth. - Mahatma Ghandi
August 8th, 2012 at 4:35:01 PM
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Quote: EvenBobSo now we have an Indian casino owning a casino in AC
From what I understand in the article, MS will not be owning the casino; they are just the managing partner with a small stake in the business, which eventually could be bought out by a much larger share. Think Horseshoe/ROC Gaming in Ohio...
I'm too lazy to find my other post right now, but I predicted this would become a trend...
"One out of every four people are [morons]"- Kyle, South Park
August 8th, 2012 at 6:55:46 PM
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Is Resorts just a way to get established? Could they be making a bid for Taj Mahal?
August 8th, 2012 at 6:59:29 PM
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Quote: pacomartinIs Resorts just a way to get established? Could they be making a bid for Taj Mahal?
Could be.
"The move will give Mohegan three venues within
driving distance of New York City and establish
it as one of the biggest casino interests in the
NorthEast corridor. The MTGA’s CEO Mitchell
Etess stated: “The timing is right. We have long
looked at the Atlantic City market as an excellent
opportunity.”
"It's not called gambling if the math is on your side."
August 8th, 2012 at 7:07:21 PM
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i was in Resorts this morning,
they are just starting doing some preliminary work
for the beginning of reconstruction,
retheming from art deco to margaritaville...
they are just starting doing some preliminary work
for the beginning of reconstruction,
retheming from art deco to margaritaville...
In a bet, there is a fool and a thief.
- Proverb.
August 8th, 2012 at 9:19:22 PM
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Quote: EvenBobSo now we have an Indian casino owning a casino in AC.
In 2010 former Tropicana Casino and Resort President Dennis Gomes announced his intentions to purchase Resorts Atlantic City for $35 million in cash from the lenders who took over after Colony Capital defaulted. The casino was taken over by DGMB Casinos, a company headed by Dennis Gomes, in December 2010, days before the casino was scheduled to shut down.
Mohegan Sun has taken over management, not ownership.
August 8th, 2012 at 9:35:32 PM
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Quote: pacomartin
Mohegan Sun has taken over management, not ownership.
"But this article says "Atlantic City has a new kid on the block after the owners of Connecticut’s Mohegan Sun casino business bought
the city’s oldest casino."
"It's not called gambling if the math is on your side."
August 9th, 2012 at 9:07:54 AM
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That article is wrong.
The story was on all the local TV news shows. They are taking over 'management' of the casino.
Anyone purchasing a casino in NJ would have to be approved and licensed by the NJ Gaming Commission.
The story was on all the local TV news shows. They are taking over 'management' of the casino.
Anyone purchasing a casino in NJ would have to be approved and licensed by the NJ Gaming Commission.
August 9th, 2012 at 9:21:20 AM
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They way I understand it is they are taking over management, and also "buying in" by making an equity investment. So they'll share in the profits. No ownership change is taking place (yet).
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
August 9th, 2012 at 9:48:49 AM
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After leaving Foxwoods this morning I went across the river to Mohegan Sun figuring I'd have a scoop to tell everyone but I was wrong. It seemed that everyone already knew although there was a lot of confusion over the terms.
Many people, especially ignorant people, want to punish you for speaking the truth. - Mahatma Ghandi
August 9th, 2012 at 10:06:50 AM
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Delete....
Craps is the most "Jekyll and Hyde" casino game ever invented!
August 9th, 2012 at 4:37:28 PM
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Quote: pacomartinIs Resorts just a way to get established? Could they be making a bid for Taj Mahal?
There is a certain poetry to that. They were both part of Crosby's original deal for Resorts and the, ahem, urban renewal area at the northern end of the Boardwalk. That is until everyone's favorite former casino owner, the Trumpster, split them up, unloading Resorts on Merv Griffin.
August 9th, 2012 at 4:39:25 PM
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Quote: EvenBob"But this article says "Atlantic City has a new kid on the block after the owners of Connecticut’s Mohegan Sun casino business bought
the city’s oldest casino."
It would have come out better to stick with the professionals in the first link rather than try to justify the thread of the title with some amateur's erroneous reportage.
