December 19, 2015 |
Atlantic City's long-awaited PILOT is one step closer to helping pull the casino resort out of its fiscal nosedive. On Thursday, the New Jersey Assembly voted in favor of accepting Gov. Christie's conditions on a package of bills - including a set payment in lieu of taxes by casinos and redirected aid for the city - aimed at keeping Atlantic City free of crushing tax appeals in future years. But the Senate, which had scheduled a vote, delayed taking action on the bills, considered crucial to ensuring the resort's solvency.
July 3, 2013
July 1, 1995: Las Vegas gambling tycoon Steve Wynn comes to Atlantic City to announce Le Jardin, a billion-dollar casino-hotel to be built on a city-owned dump-a/k/a the H-Tract - in the Marina District. Key to the project, he says, will be a new highway connecting the area to the Atlantic City Expressway, its $330 million cost to be paid mostly with public funds. 1998: Las Vegas gaming companies Boyd Gaming and MGM announce joint plans for an unnamed luxury gaming resort on the H-Tract.
July 3, 2013 |
IT CAN be argued there are but three truly crucial dates in the 35-year history of legal gaming in Atlantic City. The first two are Nov. 2, 1976, the day New Jersey voters approved casinos in the fading seaside resort, and May 26, 1978, the day Resorts International, AC's first casino, opened its doors. It took a quarter-century to reach the third milestone. Just before midnight on July 2, 2003, virtually everything about AC's gaming realm - what it looked like, what it tasted like, what it sounded like and the customers it was marketed to - changed forever as Borgata Hotel Casino & Spa opened.
October 14, 2010 |
ATLANTIC CITY - MGM Resorts International has found a buyer for its half-stake in Borgata Hotel Casino and Spa for $250 million. The development was part of the Las Vegas-based company's preliminary third-quarter earnings statement Tuesday, although the buyer was not identified. A spokesman for MGM declined to provide details, saying Wednesday that the firm was "not disclosing information about the bidder or timeline. " Gaming analysts and sources close to the negotiations say a private-equity firm was the likely suitor.
March 6, 2008 |
ATLANTIC CITY - Sam Boyd made a huge bet on Las Vegas in the early 1950s by investing in a few local casinos there. He and his son, Bill, formed their own gambling company in 1974, and over the next three-plusdecades, Boyd Gaming Corp. would grow to become one of the nation's largest. It is credited by many for changing Atlantic City for the better when it opened the trendsetting Borgata Hotel Casino & Spa there in 2003. Every new casino operator coming into the seaside resort since then has cited the Borgata as its model.
December 20, 2006 |
Former State Rep. Mark McNaughton, who was appointed to the Pennsylvania Gaming Control Board, amended his ethics statements yesterday to show that he won thousands of dollars at casinos in recent years. The disclosure came two days after The Inquirer reported that McNaughton, a vocal critic of gambling, won nearly $15,500 between 2003 and 2005 in Las Vegas and Atlantic City. He reported the winnings on his federal tax returns, but not on his Pennsylvania statement of financial interest, which state legislators and many other officials must file annually as a way of informing the public about their sources of income.
April 29, 2006 |
Allentown Mayor Ed Pawlowski says Pennsylvania's third largest city is "desperate" for a casino and the tax revenue it would bring. "Is that too much to ask, to make the city livable again?" Pawlowski asked at a Pennsylvania Gaming Control Board hearing in Allentown yesterday. Bethlehem city officials traveled nine miles down the road to offer a similar refrain - that the shuttered Bethlehem Steel site, both cultural icon and economic albatross, can only be saved by gambling.
April 27, 2006 |
Boyd Gaming may scuttle its proposal for a slots parlor in Limerick after township officials came out against the project. Gambling industry experts yesterday said Limerick's decision to oppose a slots parlor, and the millions in annual tax revenue it would generate, was a potential knockout blow to Boyd. None of the other planned casino projects in eastern Pennsylvania have stirred such official opposition. Boyd was attracted to the Montgomery County site by the high-income suburban communities within a relatively short drive - but the township says it doesn't want the traffic headaches caused by 16,000 visitors a day. Late yesterday, Boyd executives said they were considering their next move.
January 5, 2006 |
The head of the Borgata Hotel Casino & Spa in Atlantic City will return to Las Vegas to oversee development of Boyd Gaming Corp.'s $4 billion, 63-acre project, called Echelon Place. The departure of chief executive officer Robert L. Boughner was effective immediately pending regulatory approvals, Boyd said yesterday in a statement. Larry Mullin, chief operating officer of the Borgata, will add president to his title and be in charge of day-to-day operations at the Atlantic City casino.
December 8, 2005 |
Two major participants in a proposed slots parlor and high-end mall in Montgomery County have close ties to Gov. Rendell. David Sweet, who ran Rendell's 2002 gubernatorial campaign, and the Simon Property Group, whose co-chairman donated $60,000 to that effort, are both involved in the plan announced yesterday by Boyd Gaming of Las Vegas. The parlor would be in Limerick Township, where officials are divided over the prospect of up to 5,000 slot machines. Kenneth W. Sperring Jr., chairman of the township's Board of Supervisors, said slots would not fit in "this basically country setting.