August 20, 2014
M ICHAEL PRIFTI, 60, of Wynnewood; Eric Rahe, 56, of Phoenixville; and Michael Ytterberg, 60, of East Falls, are principals in BLT Architects. The second-generation Center City firm works in mixed-use, multifamily, education and hospitality spaces. I spoke with Prifti, who's managing principal. Q: What sets BLT Architects apart from other firms? A: We don't bring preconceived notions to any opportunity. Our higher-education work has informed our hotel work. Similarly, the hotel work is showing up in residential where there's lots of interplay in the amenity space.
August 19, 2014 |
ATLANTIC CITY - Revel's waning days stand in stark contrast to just over three years ago, when its chief executive at the time, Kevin DeSanctis, wowed everyone at the East Coast Gaming Congress with his vision. Four months before, in early February 2011, Revel had secured $1.15 billion in new financing to finish construction, which had been halted for more than a year by the recession and frozen lending. In April 2010, Morgan Stanley, Revel's original chief financial backer and operator, had decided to pull out of the project, taking a $932 million loss on it, rather than spending the $1 billion that finishing the casino would cost.
August 2, 2014 |
Borgata's online gambling operations recorded an operating loss of $1.8 million in the quarter ended June 30, but reached a "key milestone" by breaking even in July, said Keith Smith, chief executive of Borgata's managing owner, Boyd Gaming Inc. Smith said during a conference call on the Las Vegas company's second quarter earnings that he expected the recent downturn in online gambling revenue in New Jersey to end when cooler weather returns....
August 1, 2014 |
LOOK! UP in the sky! It's a bird! It's a plane! It's a lot of planes. They'll be zooming along the shoreline Aug. 13 as the 12th annual Atlantic City Air Show soars back to town. More than just the latest edition of the aerial extravaganza, the exhibition - dubbed "Thunder Over the Boardwalk" - marks a return to the show's longtime August scheduling. In 2013, the daylong spectacle featuring vintage and state-of-the-art aircraft was staged in June rather than in August, as it had been since its 2003 inception.
July 12, 2014 |
The divorce album is one of pop's strangest quasi-traditions, treating the rights, wrongs, and ruin of a personal relationship with the arts of the pop love song. Marvin Gaye did it with Here, My Dear , Bob Dylan with Blood on the Tracks , and husband-and-wife folkies Richard and Linda Thompson made one together in Shoot Out the Lights . This year, producer/songwriter/singer Kenny "Babyface" Edmonds and Toni Braxton, a singer he has produced two albums for, made one of the best duet records in this line, titled Love, Marriage & Divorce . (Babyface divorced Tracey Edmonds in 2005, and Braxton let go of Keri Lewis in 2013.)
June 27, 2014
THE WAY Allen Valentine sees it, he is simply continuing an Atlantic City tradition with roots that go well back before the legal-casino era. "My grandparents came to Atlantic City on their honeymoon in the 1930s," offered Valentine, who today reigns as the town's most prolific supplier of extended-run production shows. "Many years ago, I asked them why they went to Atlantic City, and they said, 'Because they have shows.' " Valentine, who first came to Boardwalk prominence in the mid-1990s as an extremely talented and innovative magician, is doing his best to ensure that that legacy survives in the 21st century.
June 21, 2014 |
The Revel Casino Hotel in Atlantic City, a $2.4 billion property that has operated at a loss since opening in 2012, filed for its second bankruptcy Thursday. The new filing came about 13 months after the company wiped out $932 million in debt and cut yearly debt payments by 96 percent in bankruptcy last year. Despite the massive debt relief, the casino at the north end of the Boardwalk continued losing money on an operating basis before debt payments. The loss was $21.75 million in this year's first quarter.
June 13, 2014 |
On the same day that Atlantic City's government learned it would receive $6.8 million in state aid to help balance next year's budget, it also agreed to dole out many times that in a refund to its biggest taxpayer - the Borgata Hotel Casino & Spa. The resort's top-grossing casino will get back $88.25 million under a settlement it reached late Tuesday with the city on its property taxes - and the refund could grow even larger if the city loses a...
May 24, 2014 |
Six of 11 casinos in Atlantic City had gross operating losses in the first quarter, the New Jersey Division of Gaming Enforcement reported. Four of the five casinos with operating gains in the quarter ended March 31 reported declines from last year. In aggregate, gross operating profits for those four casinos - Borgata, Caesars, Harrah's, and Showboat - fell 35 percent, to $50.36 million from $77.83 million. Tropicana was the exception. Its gross operating profit soared to $32.09 million this year from $1.98 million thanks to the way it accounted for a property-tax settlement.
May 17, 2014 |
Blake Shelton and Lady Antebellum on the beach. Lady Gaga and Kiss at Boardwalk Hall. A jazz fest in Cape May - and a Beardfest in the woods. All this and more awaits the Jersey Shore music fan this summer. That's on top of a wide range of Atlantic City casino headliners, including superstar DJs (Paul Oakenfold, June 6 at Revel), young country stars (The Band Perry, May 31 at Caesars), Motown legends (Smokey Robinson May 24 at Harrah's, Diana Ross June 20 at Caesars) and classic rockers (John Fogerty July 19 at Borgata, Rod Stewart Aug. 23 at Taj Mahal)