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Alantic Club auctioned off ,will close

Discussion in 'Non-Vegas Chat' started by jerseyguy, Dec 21, 2013.

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  1. jerseyguy

    jerseyguy VIP Whale

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    Caesars got the ground ,Trop won the contents ,the Property will close on Jan 17. What Caesars intends to do with it who knows? Sell it off or open their own hotel to compete with the Trop down at that end of the boardwalk? Was a really nice place when originally opened by Steve Wynn .
    In other major AC news ,Mrs. JG never got her jacket back but thursday night she sat down at a vp machine at the same bar and someone took off leaving $43 in credits .She cashed out the ticket and left it face down next to her at the bar in case the owner came back. Sure enough the guy returned and she gave him his money. You would think the cheap f...k would have at least given her $10 to say thanks (I sure as hell would have) for being honest but no.
    Merry Christmas to him too.
     
  2. hammie

    hammie VIP Whale

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    Atlantic Club

    Wow, I think it last changed hands in 2005 at $540 million. That is stunning. I better use my comp room offer before the 13th.

    Yes, when Steve Wynn opened this up as the Golden Nugget, it produced the highest revenues of any casino in AC. The winning bid was $23.4 million! Caesars gets the property for $15 million, and Tropicana gets the slot machines and table games for $8.4 million. I realize the Atlantic City gaming market is off 40% from its high in 2007, this was before competition from Pennsylvania, Maryland and NY.

    I find it hard to believe that with a sale price of $23.4 million, this place could not continue to be run as a casino and be profitable. The best possible use for this property is to close it? Caesars will not operate it as a casino.

    One article claims that Revel may go through a second bankruptcy.
     
  3. jerseyguy

    jerseyguy VIP Whale

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    Better get down there Hammie

    Hope youre not sitting at a BJ table and a bunch of guys pick you up and carry you over to the Trop.
    Hard Rock is negotiating to buy the Revel according to todays paper.
    Court is trying to keep the Atlantic Club bigwigs from getting their yearly bonuses this year,too bad for them.
     
  4. dvandentop

    dvandentop VIP Whale

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    Plain and simple over saturated market of east coast casino.
     
  5. Busyman

    Busyman VIP Whale

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    Yup, Atlantic City depended on out-of-towner and Pennsylania will now have 12 casino compared to Atlantic City's 11.

    Basically just don't have to travel anymore for a gambling fix.

    This is why Vegas is doing the right thing in offering more than gambling to make them stand out.
     
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