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NEWS
June 14, 2013 | By Chris Brennan
STATE SEN. Mike Stack sounds close to announcing a run for governor in the 2014 Democratic primary election. The four-term senator from Northeast Philly and his family could also be close to a multimillion-dollar jackpot if developer Steve Wynn wins a license to build a casino on the banks of the Delaware River in Fishtown. Stack, his four siblings and their mother, Philadelphia Municipal Court Judge Felice Rowley Stack , own about one-fifth of the 60 acres in an real estate option agreement signed by Wynn.
BUSINESS
April 29, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
Shareholders of the owner of the Tropicana casinos in Atlantic City and Las Vegas may feel like they have hit the jackpot. Since Aztar Corp. announced on March 13 that it would be acquired for $38 a share in cash, a bidding war has pushed up the price to $48 and possibly $50. A year ago, Aztar shares traded at $26.37. Two offers were made yesterday. The original bidder, Pinnacle Entertainment Inc., announced it would pay $1.85 billion in cash and stock for Aztar in addition to assuming $677 million of the casino operator's debt.
BUSINESS
May 3, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
The bidding war for a Phoenix-based casino company with valuable properties in Las Vegas and Atlantic City intensified yesterday. Aztar Corp. said its board of directors had determined that the all-cash, $50-a-share offer for all outstanding Aztar shares made by Columbia Entertainment, the gaming affiliate of Columbia Sussex Corp., was "superior" to an offer made by Pinnacle Entertainment Inc. Columbia's offer includes a financial commitment and a "substantial deposit," payable to Aztar.
BUSINESS
January 19, 2013 | By Christopher Palmeri, Bloomberg News
Las Vegas Sands Corp., the company controlled by billionaire Sheldon Adelson, is seeking a buyer for its casino in Bethlehem, Pa., according to people with knowledge of the situation. The Las Vegas-based company is asking as much as $1 billion for the property, the second-largest casino in the state based on gambling revenue, said the sources, who asked not to be identified because the matter is private. A deal is not certain. Efforts to sell the casino have been complicated by price and potential buyers involved in other deals.
BUSINESS
April 4, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
Las Vegas-based Ameristar Casinos Inc. offered about $1.5 billion in cash yesterday to acquire Aztar Corp., topping previous offers from Pinnacle Entertainment Inc. and Colony Capital L.L.C. for the owner of the Tropicana casinos in Atlantic City and Las Vegas. Ameristar offered to buy Phoenix-based Aztar for $42 a share in an all-cash proposal. The total transaction would be valued at $2.25 billion, including the assumption of debt. Last night, Aztar announced that its board would enter separate discussions with Colony and Ameristar regarding their proposals.
NEWS
November 2, 2005 | By John Sullivan INQUIRER STAFF WRITER
Hoping to ensure that slots gambling in the city is a success, Mayor Street is to meet with gambling companies with an eye toward making a recommendation on where to build the two mandated city casinos. Street will meet tomorrow with Ameristar Casinos to hear how the company plans to use a 46-acre swath of land near the Delaware River and Spring Garden Street for a $450 million casino. Ameristar officials could not be reached for comment. The meetings, which Street initiated, are private meetings between the mayor, corporate executives and some members of Street's cabinet.
NEWS
June 7, 2005 | By Nathan Gorenstein INQUIRER STAFF WRITER
Property owned by State Sen. Michael Stack 3d (D., Phila.) and other members of his family is no longer part of a Las Vegas company's plans for a potentially lucrative slots-parlor site. Ameristar Casinos Inc. is dropping the Stack land and instead optioning property a little south along the Delaware River in order to "maximize our chances" of getting a license to operate in Philadelphia, said Gordon R. Kanofsky, executive vice president. The new parcel is still just north of Penn Treaty Park in Fishtown.
BUSINESS
November 15, 2005 | By Suzette Parmley INQUIRER STAFF WRITER
The gambling company that owns the Tropicana casinos in Atlantic City and Las Vegas is expected to unveil plans today to build a casino in Allentown. Aztar Corp. spokesman Joe Cole said yesterday that the company would pursue a license to operate a slots parlor in Pennsylvania. "We've said for several months we were interested in Pennsylvania and have been looking around," he said. Aztar, which is based in Phoenix, had been rumored since the early part of the year to be a possible contender for one of 14 gambling licenses to be awarded by the state Gaming Control Board beginning in 2006.
BUSINESS
May 19, 2007 | By Suzette Parmley INQUIRER STAFF WRITER
Gambling industry observers say a non-casino company may be the most likely suitor to acquire Trump Entertainment Resorts Inc. The company, founded by developer Donald Trump, announced Thursday that it had received preliminary takeover offers. Trump Entertainment said in a statement that it formed a special board committee to evaluate proposals for the Atlantic City casino operator. Yesterday, Trump Entertainment shares closed up 21 percent, or $2.73, at $15.80 on the Nasdaq.
BUSINESS
May 12, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
The board of Aztar Corp., owner of the Tropicana casinos in Atlantic City and Las Vegas, met yesterday to consider the all-cash offer of $53 a share from a privately held company. The offer from Columbia Entertainment, the gambling affiliate of Columbia Sussex Corp., of Fort Mitchell, Ky., topped the cash-and-stock bid of $51 a share for Aztar that Pinnacle Entertainment Inc. made last Friday. Phoenix-based Aztar had until 10 Eastern time last night to respond to the new bid to prohibit Columbia from having the right to revoke it - but Aztar did not issue a new statement.
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BUSINESS
June 18, 2013 | By Christina Rexrode, Associated Press
NEW YORK - Investors are playing a guessing game with the Federal Reserve. On Monday, they guessed that the central bank will continue trying to prop up the economy, and stocks went higher. The major indexes all rose about 1 percent in early trading and stayed there for most of the day before dipping slightly in the afternoon. The Standard & Poor's 500 index rose 12.31 points, or 0.8 percent, to 1,639.04. The Dow rose 109.67 points, or 0.7 percent, to 15,179.85. The Nasdaq composite rose 28.58, or 0.8 percent, to 3,452.13.
NEWS
June 14, 2013 | By Chris Brennan
STATE SEN. Mike Stack sounds close to announcing a run for governor in the 2014 Democratic primary election. The four-term senator from Northeast Philly and his family could also be close to a multimillion-dollar jackpot if developer Steve Wynn wins a license to build a casino on the banks of the Delaware River in Fishtown. Stack, his four siblings and their mother, Philadelphia Municipal Court Judge Felice Rowley Stack , own about one-fifth of the 60 acres in an real estate option agreement signed by Wynn.
BUSINESS
January 19, 2013 | By Christopher Palmeri, Bloomberg News
Las Vegas Sands Corp., the company controlled by billionaire Sheldon Adelson, is seeking a buyer for its casino in Bethlehem, Pa., according to people with knowledge of the situation. The Las Vegas-based company is asking as much as $1 billion for the property, the second-largest casino in the state based on gambling revenue, said the sources, who asked not to be identified because the matter is private. A deal is not certain. Efforts to sell the casino have been complicated by price and potential buyers involved in other deals.
BUSINESS
May 19, 2007 | By Suzette Parmley INQUIRER STAFF WRITER
Gambling industry observers say a non-casino company may be the most likely suitor to acquire Trump Entertainment Resorts Inc. The company, founded by developer Donald Trump, announced Thursday that it had received preliminary takeover offers. Trump Entertainment said in a statement that it formed a special board committee to evaluate proposals for the Atlantic City casino operator. Yesterday, Trump Entertainment shares closed up 21 percent, or $2.73, at $15.80 on the Nasdaq.
BUSINESS
May 20, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
A privately held Kentucky firm is the apparent winner of a 10-week-long bidding war for the parent company of Tropicana casinos in Atlantic City and Las Vegas. Columbia Sussex Corp., of Fort Mitchell, Ky., agreed to buy Aztar Corp. yesterday in a cash transaction valued at $2.1 billion, or $54 a share. "This is a breakthrough transaction for our company which will significantly enhance our gaming assets in key growth markets and strengthen our position as one of the leading owners, developers and operators of hotels, resorts and casinos," William J. Yung III, president and chief executive officer of Columbia Sussex, said in a statement.
BUSINESS
May 12, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
The board of Aztar Corp., owner of the Tropicana casinos in Atlantic City and Las Vegas, met yesterday to consider the all-cash offer of $53 a share from a privately held company. The offer from Columbia Entertainment, the gambling affiliate of Columbia Sussex Corp., of Fort Mitchell, Ky., topped the cash-and-stock bid of $51 a share for Aztar that Pinnacle Entertainment Inc. made last Friday. Phoenix-based Aztar had until 10 Eastern time last night to respond to the new bid to prohibit Columbia from having the right to revoke it - but Aztar did not issue a new statement.
BUSINESS
May 6, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
The board of Aztar Corp., owner of the Tropicana casinos in Atlantic City and Las Vegas, last night snubbed an all-cash offer of $50 a share by a privately held firm. Instead, Phoenix-based Aztar amended its merger agreement with Pinnacle Entertainment Inc., reflecting a higher cash-and-stock bid of $51. Pinnacle had raised its offer Thursday to $51 a share, consisting of $47 in cash and $4 in Pinnacle stock. After initially calling a $1.9 billion offer from Columbia Entertainment, the gambling affiliate of Columbia Sussex Corp.
BUSINESS
May 3, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
The bidding war for a Phoenix-based casino company with valuable properties in Las Vegas and Atlantic City intensified yesterday. Aztar Corp. said its board of directors had determined that the all-cash, $50-a-share offer for all outstanding Aztar shares made by Columbia Entertainment, the gaming affiliate of Columbia Sussex Corp., was "superior" to an offer made by Pinnacle Entertainment Inc. Columbia's offer includes a financial commitment and a "substantial deposit," payable to Aztar.
BUSINESS
April 29, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
Shareholders of the owner of the Tropicana casinos in Atlantic City and Las Vegas may feel like they have hit the jackpot. Since Aztar Corp. announced on March 13 that it would be acquired for $38 a share in cash, a bidding war has pushed up the price to $48 and possibly $50. A year ago, Aztar shares traded at $26.37. Two offers were made yesterday. The original bidder, Pinnacle Entertainment Inc., announced it would pay $1.85 billion in cash and stock for Aztar in addition to assuming $677 million of the casino operator's debt.
BUSINESS
April 4, 2006 | By Suzette Parmley INQUIRER STAFF WRITER
Las Vegas-based Ameristar Casinos Inc. offered about $1.5 billion in cash yesterday to acquire Aztar Corp., topping previous offers from Pinnacle Entertainment Inc. and Colony Capital L.L.C. for the owner of the Tropicana casinos in Atlantic City and Las Vegas. Ameristar offered to buy Phoenix-based Aztar for $42 a share in an all-cash proposal. The total transaction would be valued at $2.25 billion, including the assumption of debt. Last night, Aztar announced that its board would enter separate discussions with Colony and Ameristar regarding their proposals.
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