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Atlantic City

NEWS
September 15, 2014 | By Amy S. Rosenberg, Inquirer Staff Writer
ATLANTIC CITY - Inside Boardwalk Hall, Miss Kentucky fiddled. Go ahead, make the joke. Was Ramsey Carpenter and her green fiddle the Boardwalk's version of Nero, fiddling while Atlantic City collapsed? Was the entire Miss America Organization using its collective blinders to soldier on last week, even as thousands of casino workers were losing their jobs and yet another casino went bankrupt before a contestant had even shown one shoe? Never mind. (Contestants who were supposed to stay at the defunct Revel were sent to Borgata.)
NEWS
September 15, 2014 | By Jacqueline L. Urgo, Inquirer Staff Writer
ATLANTIC CITY - Yeah, baby, as always, it was all about the shoes. Despite persistent spitting rain that began 90 minutes before the Miss America Show Us Your Shoes Parade was to begin, the crowds still crowded the Boardwalk - beneath plastic ponchos and umbrellas - Saturday to glimpse this year's 53 Miss America contestants and cadre of performers including marching bands, twirlers, dance troupes, and even the Philadelphia Eagles cheerleaders....
BUSINESS
September 14, 2014 | By Harold Brubaker, Inquirer Staff Writer
ATLANTIC CITY - With a group of meeting planners in tow and a clear blue sky as a backdrop, Caesars Entertainment Inc. executives showed off progress Friday on the company's $125.8 million Harrah's Resort Waterfront Conference Center, which is designed to draw business travelers to a city that is losing four, maybe five, casinos this year. The steel frame of the project, supported by $45 million from the Casino Reinvestment Development Authority and $24.1 million in tax breaks that can be earned over 20 years, is just weeks away from completion.
BUSINESS
September 13, 2014 | By Harold Brubaker, Inquirer Staff Writer
Glenn E. Straub, a South Florida investor, emerged from nowhere this week with his $90 million cash bid for Atlantic City's bankrupt Revel Casino Hotel. But for the last 20 years, Straub, 67, has made it his business to buy distressed properties - including a polo club, massive yachts, and even a high-end development in Port St. Lucie, Fla., that was left for dead by Philadelphia's Lubert-Adler real estate firm. Straub was circumspect about what he would do with the Revel property if his bid turns out to be the winner in an auction scheduled for Sept.
NEWS
September 13, 2014 | By Andrew Seidman, Inquirer Trenton Bureau
Gov. Christie on Thursday asked the Legislature to beef up tax incentives for non-gambling projects in Atlantic City as part of an economic development bill. He conditionally vetoed the bill, passed by the Democratic-controlled Legislature in June, which would revise the state's economic incentive programs. Under Christie's revisions, non-gambling businesses in Atlantic City would be eligible for many of the same incentives as those in other poor cities, such as Camden. "Similar to Camden and other targeted cities in New Jersey that are in need of economic rejuvenation, I am recommending that non-gaming development projects and private-sector job growth in Atlantic City be eligible for the strongest possible incentives," Christie wrote in his conditional veto message.
BUSINESS
September 12, 2014 | By Harold Brubaker, Inquirer Staff Writer
Revel AC Inc. said in a bankruptcy court filing Wednesday that it had reached a deal to sell its $2.4 billion Atlantic City property to South Florida developer Glenn Straub for $90 million in cash. The deal was reached Friday, according to the filing. That was less than a week after Revel closed, putting nearly 3,000 people out of work. The offer is less than 4 percent of the casino's original price tag. "It's not going to be just a casino," Straub said. "There's four people that would make excellent casino operators, but that building is much, much more than just a casino.
NEWS
September 12, 2014
ISSUE | 9/11-ERA SECURITY We can all help The "If you see something, say something" antiterrorism program has worked in New York City. Somebody saw something unusual about a car parked in Times Square, and a bombing was stopped. Upstate New Yorkers exposed a group of homegrown terrorists, also now serving long sentences. The program works, but it needs to more national exposure to build awareness among the many millions who could be on watch and help win the war on terrorism.
BUSINESS
September 12, 2014 | By Harold Brubaker, Inquirer Staff Writer
WILMINGTON - Trump Entertainment Resorts Inc.'s first day in bankruptcy court went off without a hitch Wednesday. Judge Kevin Gross approved all the standard motions needed for Trump to continue operating as it tries to work out a deal with Carl Icahn, whose affiliates are owed $292 million and have a "noose around the debtors' operations," in the words of a Trump Entertainment lawyer. Of particular importance was the judge's approval of a plan allowing Trump to use its nearly $30 million in cash to fund operations for the next nine weeks, under an agreement with the Icahn entities.
SPORTS
September 11, 2014 | By Harold Brubaker, Inquirer Staff Writer
In a bid to help Atlantic City's ailing casino industry, the Christie administration issued a directive Monday declaring that New Jersey casinos and racetracks, effective today, may offer sports-betting pools to their patrons. Acting Attorney General John J. Hoffman's directive says that, effective Monday, there is nothing in New Jersey law that "prevents casinos and racetracks from operating a sports pool. " "I'm happy," said Sen. Raymond Lesniak (D., Union), a major proponent of sports betting.
BUSINESS
September 11, 2014 | By Harold Brubaker, Inquirer Staff Writer
The purge of Atlantic City's weakest casinos continued Tuesday, as Trump Entertainment Resorts Inc. filed for bankruptcy in Delaware, a week before it plans to shut down Trump Plaza. The company also said it expects to pull the plug on Taj Mahal in November if it fails to get concessions from the casino's unionized workers. The Taj Mahal, which employs 2,963, would be the fifth Atlantic City casino to close this year. Despite the threat of closure, Bob McDevitt, president of Unite Here Local 54, said there was little the union could do to help bail out Trump Taj Mahal.
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