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BUSINESS
March 26, 2015 | By Harold Brubaker, Inquirer Staff Writer
Appeals to the Pennsylvania Supreme Court of the Pennsylvania Gaming Control Board's November decision to award Philadelphia's second casino license to Live! Hotel & Casino in South Philadelphia moved forward Monday. The court denied a motion by SugarHouse Casino to force the Gaming Board to engage in further fact finding and also set May 4 as the deadline for Market East Associates L.P., PHL Local Gaming L.L.C., and Sugarhouse HSP Gaming L.P. to file briefs explaining why they believe the board's decision should be overturned The gaming regulators then have 30 days to respond.
NEWS
March 23, 2015 | By Harold Brubaker, Inquirer Staff Writer
ATLANTIC CITY - Al Callejas had a quick explanation for how he was able to top a field of 750 competitors in Borgata's free-throw contest Saturday. "I'm a coach's son. I've had a ball in my hands since I was 3 years old," Callejas, 37, of Archbald, Pa., said after winning the grand prize of $10,220 with his score of 16 in the final round - the first-grade teacher's own bit of March Madness. Answering the question of whether the tournament was a winner for Borgata would take longer, because it depended on how many of the participants and their friends spent money gambling, eating out, or staying at the hotel.
NEWS
March 17, 2015 | By Jason Laughlin, Inquirer Staff Writer
A hearing Monday on the sale of Atlantic City's defunct Revel Casino Hotel has been postponed by consent of all parties. The hearing was scheduled to challenge a U.S. Bankruptcy Court ruling Friday that blocked sale of the building, which closed in September, to Florida developer Glenn Straub for $82 million. The Monday hearing would have also addressed whether power to the building could be shut off due to unpaid bills. ACR Energy Partners spent about $160 million constructing Revel's central utility plant, resulting in $118.6 million in municipal bond debt.
NEWS
March 15, 2015 | By Suzette Parmley, Inquirer Staff Writer
ATLANTIC CITY - The casino union that represents about 1,100 workers at the struggling Trump Taj Mahal picked up Friday where it left off last fall. Members of Unite Here Local 54 were back outside the casino, which had emerged from bankruptcy the day before, chanting and holding signs to protest what the union calls the continued stripping down of worker rights and benefits by the casino's new billionaire owner, Carl Icahn. Local 54 president Bob McDevitt said at the protest that the union representing about 10,000 casino workers in the city continues to appeal the ruling by a federal bankruptcy judge that nullified the contract between the union and Trump Entertainment Resorts Inc., which owns the Taj Mahal and the shuttered Trump Plaza.
BUSINESS
March 14, 2015 | By Harold Brubaker, Inquirer Staff Writer
It's been nearly two years since a group of Philadelphia-area investors led by insurance executive Manuel Stamatakis and Penn National Gaming Inc. applied for a slots license at a harness-racing track in western Pennsylvania. Yet Pennsylvania Gaming Control Board officials are still waiting for information needed to complete their investigation of Endeka Entertainment L.P., Gaming Board chairman William H. Ryan Jr. said Thursday at a budget hearing in Harrisburg. "I will also tell you that the board is hopeful that we can make a decision by the end of this calendar year," Ryan said in response to a question from Michael H. O'Brien (D., Phila.)
BUSINESS
March 11, 2015 | By Harold Brubaker, Inquirer Staff Writer
Shares in Gaming & Leisure Properties Inc. climbed $4.06, or 12.5 percent, after the Wyomissing, Pa., company announced a hostile, $4.1 billion offer for the real estate holdings of Pinnacle Entertainment Inc., a Las Vegas casino company. It was the biggest one-day gain for Gaming & Leisure Properties since the real estate investment trust was spun off from Penn National Gaming Inc. in the fall of 2013 to own most of Penn National's real estate. The stock closed at $36.43. Pinnacle owns 15 casinos and announced last fall that its board had decided to split into two companies, one to own its real estate and one to operate its casinos.
NEWS
March 10, 2015 | By Suzette Parmley, Inquirer Staff Writer
ATLANTIC CITY - A measure aimed at stabilizing this city's taxes has stalled in the Statehouse, just three weeks before a deadline for the casinos to challenge their assessed value in a shrinking gaming market, leaving embattled Atlantic City Mayor Don Guardian caught between two of the state's most powerful politicians. Gov. Christie and Senate President Stephen Sweeney (D., Gloucester) are at odds over the fate of an Atlantic City tax relief plan, formally known as the Casino Property Taxation Stabilization Act, that Sweeney sponsored.
BUSINESS
March 4, 2015 | By Harold Brubaker, Inquirer Staff Writer
A Los Angeles developer expressed interest in buying Revel Casino Hotel in Atlantic City after a U.S. Bankrutpcy judge on Feb. 19 allowed Revel to terminate the planned $95.4 million sale to Glenn Straub, according to a bankruptcy-court filing by lawyers for a group of Revel's restaurant and retail tenants. Revel last week revived its deal with Straub, a Florida developer, but at the singificantly lower price of $82 million. A hearing to approve the new deal with Straub is scheduled for Wednesday in Camden.
NEWS
March 2, 2015 | By Amy S. Rosenberg, Inquirer Staff Writer
Out in the casino diaspora, the workers from Atlantic City tend to want to keep a low profile. They know how it can turn out, turn sour, end abruptly. Those who lost jobs - some 8,000 in 2014 - or saw the writing on the wall in Atlantic City and were able to find work elsewhere have moved on. When necessary, they also have moved, sometimes leaving their families in New Jersey. They're now at casinos in Pennsylvania, Delaware, Maryland, Florida, Connecticut, Las Vegas, Detroit, even Wisconsin.
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