Atlantic City - Thousands of casino workers in yellow shirts with the United Auto Workers insignia marched with their union brethren from several states on one of the city's busiest streets yesterday to make a point. The rally and march, which swelled to about 5,000 strong by midafternoon - on the official first day of summer and on one of Atlantic City's busiest gambling days of the week...
New Jersey regulators Wednesday granted new 5-year licenses for the four Atlantic City casinos owned by Harrah’s Entertainment Inc. The Casino Control Commission also approved affiliates of Apollo Management and TPG Capital as owners of the Harrah’s Casinos. Apollo and TPG, two private equity firms acquired Harrah’s Entertainment in January in a USD 17.1 billion deal that includes the Harrah’s Resort, Bally’s, Caesars, and Showboat casinos.
Atlantic City - Gov. Jon S. Corzine made two stops in the resort today, first addressing conventions of the New Jersey State AFL-CIO and then the New Jersey Association of Counties. The governor at the AFL-CIO union convention at the Borgata Hotel Casino & Spa received support of his endorsement of a bill that would keep gaming halls and horse tracks open in the event of a shutdown caused by state budget problems.
Atlantic City - How much is the Tropicana Casino and Resort really worth? It may take a bankruptcy auction to find that out. Normally, bankruptcy carries the stigma of failure. Not so in the casino industry. It has been used with success by gaming operators in the past, and now it appears Tropicana is heading in that direction to complete the casino's tortuously slow sale.
Donald Trump has agreed to sell Trump Marina in Atlantic City, New Jersey, to Coastal Marina LLC and drop a lawsuit against its chairman, Richard Fields. Coastal Marina, an affiliate of Coastal Development, is to pay USD 316 million for the resort, which will reopen as Margaritaville. Fields and Trump also agreed to end a Broward County lawsuit that accuses Fields of cutting Trump out of development of the Seminole Hard Rock casinos in Hollywood and Tampa...
Atlantic City - Cars streamed into Atlantic City on May 26, 1978, and people lined the Boardwalk for blocks, waiting to get inside the first casino outside Las Vegas on the first day it was legal to gamble there. People bought tickets for buffets they had no intention of eating, just to sneak inside the casino earlier than the rest. Men relieved themselves into plastic coin cups to avoid losing their spot at the tables.
Atlantic City, New Jersey (AP) - The bad news just keeps coming for Atlantic City's 11 casinos. The city's gambling halls reported a 17.7 percent decrease in gross operating profits for the first quarter of 2008, according to figures released Monday by the state Casino Control Commission. Gross operating profits, which represent earnings before interest, taxes, depreciation, and other charges, is considered a better comparison between casino properties than net income or losses.
ands Casino Hotel was demolished Thursday night. It took less than 20 seconds for the 21-story, 500-room tower to come crashing to the ground shortly after 9:30 p.m. in the first implosion of an East Coast casino. The demolition makes way for a mega-casino to be built on the Sands site by Pinnacle Entertainment at an estimated cost of USD 1.5 billion to USD 2 billion. The as-yet unnamed complex is to open in late 2011 or early 2012.
Atlantic City (AP) — The ads were titled "Help Yourself, Help Atlantic City, Help New Jersey," and they made a series of promises, if only voters would pull the "yes" lever to legalize casino gambling. Having casinos in Atlantic City would "balance taxes, create jobs, boost the economy, and cut down on street crime," the advertisements assured. Thirty years after singer Steve Lawrence tossed the first dice onto a green felt table to kick off legalized gambling on Memorial Day 1978...
Atlantic City - The sprawling dirt site where Pinnacle Entertainment's USD 1.5 billion megaresort is supposed to rise will remain vacant for at least two more years. Construction will start no earlier than 2010 - if ever - on the now-cleared land where the old Sands Casino Hotel once stood, Pinnacle Chairman Dan Lee said Wednesday while giving a cautious update on the project. Lee put the odds of Pinnacle ever building the new casino at 50 percent...
Atlantic City, New Jersey (AP) - No Atlantic City casino will go totally smoke-free this fall to comply with a tough new smoking law, the casinos said Tuesday. Ten casinos said they are planning to build the enclosed, non-gambling smoking lounges permitted under the law, and the eleventh said it is leaning that way. The only casino that has not explicitly said it will build smoking lounges is the Borgata Hotel Casino & Spa.
An Atlantic City casino development group headed by Curtis Bashaw and Wallace Barr has proposed a USD 1.5 billion to USD 2 billion mega-resort on the site of the old Dunes Casino, at the southern end of the Boardwalk. At 253.5 meters, it would rival some New York skyscrapers and include 2,000 hotel rooms, more than 18,580 sqm of gaming space, 32,516 sqm of retail, dining and entertainment, and 13,935 sqm of convention space.
