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Pickets, bankruptcy greet Atlantic City casinos for summer

Discussion in 'Non-Vegas Hotels & Casinos' started by SH0CK, May 21, 2015.

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  1. SH0CK

    SH0CK Stylin' and Profilin' Quasi Tech Admin

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    I didn't even know that they were trying to reopen Revel, let alone have an option on purchasing the Showboat...
     
  2. lithium78

    lithium78 High-Roller

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    The Showboat was still profitable when CET closed it and fired everyone thinking their other properties would absorb the Showboat's customers. Instead, most of those customers went to Golden Nugget or Tropicana instead because those hotels host rock shows like the Showboat's House of Blues. Meanwhile, Icahn screwed Trump workers out of their health benefits and pensions which has made them unable to make a living in NJ, so they are rightfully driving customers away from the Taj Mahal in response. Nearby, the Revel has been purchased and the new owner wants to get it up and running but he can't get out of the idiotic energy contract the previous owners made, which needs to go for the place to be profitable. At the same time, NJ state officials are doing anything they can to prevent the Revel from operating, including not allowing the casino's gaming license to transfer to the new owner and preventing him from finding and using other energy options. It is a massive cluster in AC right now.
     
  3. hawki39

    hawki39 Low-Roller

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    TYPICAL Atlantic City "Forward Thinking/Planning." Screw someone Trying to do something good.....Until the 'payoffs' are made!.
     
  4. lithium78

    lithium78 High-Roller

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    Here's an interesting tidbit from today's news. Operating profits for the remaining AC casinos generally improved by a LOT over last year, except for the Tropicana and Taj Mahal which both plummeted. Maybe it wasn't such a good idea for Carl Icahn to take away his employees' health benefits and pensions and threaten to close the Taj Mahal just because the employees have appealed the decision to the courts. Icahn's casino profits took a nosedive when customers responded to his bullying by taking their business elsewhere. The guests in AC love our casinos' employees.

    http://www.washingtontimes.com/news/2015/may/22/surviving-atlantic-city-casinos-see-operating-prof/?page=1
     
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