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Atlantic City

BUSINESS
September 7, 2014 | By Harold Brubaker, Inquirer Staff Writer
Recognizing rapidly deteriorating conditions in Atlantic City, which is losing four casinos this year, Gov. Christie last month called for a summit on the city's future. The closed-door summit, expected to last up to 90 minutes, is scheduled for 2 p.m. Monday at the offices of the Casino Reinvestment Development Corp. in Atlantic City. Turmoil in Atlantic City showed no signs of letting up as rumors intensified Friday that the owner of Trump Taj Mahal would file for bankruptcy.
BUSINESS
September 7, 2014 | By Harold Brubaker, Inquirer Staff Writer
Latitude 360 Inc., a Jacksonville, Fla., company that reportedly wants to build a $20 million entertainment complex in Atlantic City, completed a merger in June that made it a publicly traded company. That could be a good thing. But Latitude 360's first quarterly report with the Securities and Exchange Commission painted an ugly financial picture. The company said it had $93 million in accumulated losses and a $23 million deficit in working capital, a key measure of short-term financial health.
BUSINESS
September 6, 2014 | By Harold Brubaker, Inquirer Staff Writer
Atlantic City's Trump Taj Mahal warned in a recent financial filing that it was in danger of running out of money to pay its bills and make debt payments. Trump Taj Mahal Associates L.L.C., the entity that owns the casino - the world's biggest and most lucrative casino when it opened in 1990 - said it needed to borrow more money or restructure its business. The casino could not guarantee it would be successful, said the filing, which was published Aug. 22. According to New Jersey regulators, the casino employs 2,825.
FOOD
September 5, 2014 | By Michael Klein, For The Inquirer
Having brought modern Israeli cuisine to Philadelphia at Zahav, Steve Cook and Michael Solomonov are focusing on Jewish cuisine from the rest of the world at the contemporary Abe Fisher , at 1623 Sansom St. (215-867-0088), next to their new hummus shop, Dizengoff. Yehuda Sichel, a Zahav veteran who won great notices when CookNSolo ran the kosher Citron & Rose in Merion Station, is billed as co-chef with Solomonov. The menu of small plates is divided into dishes based on vegetable ($10)
SPORTS
September 5, 2014 | By Mike Jensen, Inquirer Columnist
Bernard Hopkins, literal graybeard, fighting for the last time before he hits 50, training to face a 31-year-old Russian who is 25-0-1 with 23 knockouts, sat at a media caravan stop Tuesday at Temple's Liacouras Center answering a question about the potential for being knocked out for the first time in his career. Some of the buzz around Hopkins' Nov. 8 Atlantic City light-heavyweight world championship unification bout with Sergey "Krusher" Kovalev is that this could be the time, maybe.
NEWS
September 5, 2014 | By Jacqueline L. Urgo, Inquirer Staff Writer
ATLANTIC CITY - There they were. All 53 of the Miss America 2015 contestants made their debut here Wednesday to a crowd of more than 300 people who had gathered for a special sign-in ceremony at Kennedy Plaza outside the historic Boardwalk Hall. They seemed to lift the mood on a resort town where two casinos have closed in the last 48 hours and another will shutter its gaming halls and hotel by midmonth. "Oh my, aren't they pretty," observed Amelia Pagan, 68, of Jersey City, as she snapped pictures with her cellphone camera as a single-file line of the women sashayed onto the outdoor stage as a live rendition of "Signed, Sealed, Delivered" blared through loudspeakers.
NEWS
September 5, 2014 | BY CHUCK DARROW, Daily News Staff Writer darrowc@phillynews.com, 215-313-3134
THERE SHE is . . . The second year of Atlantic City's new Miss America era kicks into high gear next week with all of the glamour, tradition and, yes, pageantry that has been its calling card for decades. The 53 contestants (including those representing Washington, D.C., the Virgin Islands and Puerto Rico) officially arrived in town Wednesday for what is unarguably the most hectic and exciting two weeks of their young lives. Last year, the big news was the program's return to Atlantic City after an eight-year exile in the Nevada desert.
SPORTS
September 5, 2014 | BY DICK JERARDI, Daily News Staff Writer jerardd@phillynews.com
A FEW years ago, the Atlantic 10 was really struggling, apparently about to get pushed into irrelevancy in a football-dominate landscape. Then, the league became very proactive in getting new members and made a giant comeback. The league got poached after a very successful 2012-13 season, losing historic members as the college athletic carousel continued to spin wildly. All that went down last season was that America's best basketball-only conference had its greatest season if strength in numbers counts.
NEWS
September 4, 2014
An article in Sunday's editions incorrectly described Atlantic City's casinos. They were the first legal casinos outside of Nevada.
BUSINESS
September 4, 2014 | By Harold Brubaker, Inquirer Staff Writer
When Trump Plaza closes in two weeks, Atlantic City casinos will have 17,413 slot machines, fewer than half the total when Atlantic City's gambling revenue peaked at $5.2 billion in 2006. The 52 percent decline - from 36,620 in 2006 - in slot machines tops the overall 48 percent decline in slots revenue since 2006, based on results for the year ended July 31. So does that mean there's been enough bloodshed and no more Atlantic City casinos have to close? It's impossible to say if there will be enough business for the eight casinos that will remain when Trump Plaza closes after 30 years, putting its 1,020 employees out of work, according to one expert.
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