pacomartin
pacomartin
Joined: Jan 14, 2010
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February 15th, 2011 at 7:59:24 AM permalink
Landry's bought the Trump Marina casino in AC for $38 million which was a 1/10 of what the Donald was trying to sell it for in 2006. Landry's paid $315 million for Golden Nugget in Vegas downtown and the Laughlin property, and proceeded to sink over $300 million in improvements to the property.

The Trump Marina brought in over $130 million in gaming revenue last year, which is still more than the Nevada properties. Obviously they plan to rebrand the Trump Marina as a Golden Nugget property.

Landry's had been trying to purchase the AC Hilton, which began life as the Golden Nugget AC in the early 1980's.

Trump Marina is the smallest grossing casino in Atlantic City. In 2009 it grossed 15% less than Resorts Casino which was bought by Dennis Gomes for $35 million a few months ago.

Presumably Landry's will follow the same tactic as they did in Vegas, and try and turn the casino into a showcase for their restaurants. I wonder if they will build an aquarium? I would think so.
Ayecarumba
Ayecarumba
Joined: Nov 17, 2009
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February 15th, 2011 at 12:55:00 PM permalink
The GN Las Vegas is the jewel of Downtown. I think one more De Lux property on Fremont would be the launching pad for revival downtown. I believe that a complete teardown of the Plaza/LV Club or Binion's/Four Queens, to be rebuilt as a luxury destination resort would create traffic for the entire sector. Kind of like a small scale Venetian vs. Bellagio. Unfortunately, the land ownership arrangements make it impossible to get anything substantial done.

Maybe the plans to place gaming by the Premium Outlets will eventually come through.

Can the railroad tracks be moved? if so, where?
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pacomartin
pacomartin
Joined: Jan 14, 2010
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February 15th, 2011 at 1:18:10 PM permalink
Quote: Ayecarumba

The GN Las Vegas is the jewel of Downtown. I think one more De Lux property on Fremont would be the launching pad for revival downtown.
Can the railroad tracks be moved? if so, where?



A tear down and rebuilding is very unlikely.
The projects proposed are a rebuilding of Lady Luck,


and a new casino behind the Plaza (in image).


About three years ago a project was approved for a 61 story, 2500 room hotel called the ' rel='nofollow' target='_blank'>http://www.lvrj.com/business/18101639.html] Grand Central Hotel.

The train tracks cannot be moved, but more crossings could be made. Right now you have to go under the tracks in a car or as a pedestrian.

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