September 22, 2014 |
Atlantic City has become a place where hedge-fund managers go to lose their shirts. Three of the four Atlantic City casinos that closed this year (or four of five, if Taj Mahal closes in November) were controlled by hedge funds that suffered deep - but difficult to measure - losses. By contrast, operators with deep experience with casinos bought Resorts and the former Trump Marina (now Golden Nugget) in 2010 and 2011. Both casinos are showing signs of turning the corner - although the Atlantic City market overall remains far from settled.
March 10, 2013 |
Land is dirt-cheap in Atlantic City, just like some of its aging casinos. Gaming insiders say Pinnacle Entertainment Inc.'s deal to sell land it has owned at the resort since 2006 for $30.6 million underscores the painful fact that things have drastically changed - and not for the better. Las Vegas-based Pinnacle Enpaid $270 million for the 19 acres at the heart of the Boardwalk district, site of the former Sands Casino Hotel. Pinnacle imploded the Sands in 2007 to make way for a $1.5 billion megacasino, but scrapped those plans as the economy and Atlantic City gambling revenue tanked.
January 3, 2013 |
With its big reveal slated for Memorial Day weekend, Resorts Casino Hotel has $60 million in renovations under way, including its Margarita-themed entertainment complex. In addition to the $35 million Jimmy Buffett-themed venue, the casino announced today that it is spending $25 million to renovate hotel rooms. It will also recarpet the entire casino floor, regut 259 bathrooms at the Ocean Tower, add a food court, redo the parking garage and the entrance onto the main floor from the parking garage.
August 8, 2012 |
Atlantic City's oldest casino - Resorts Casino Hotel - plans to announce a new partnership Tuesday with the Native American tribe that operates the Mohegan Sun Casino complex in Connecticut. Industry sources say the Mohegan Tribal Gaming Authority will take over the operations of Resorts, becoming the first tribe to have a presence in Atlantic City. In February, Resorts lost half its ownership with the sudden death of its former CEO and veteran Atlantic City operator, Dennis Gomes.
July 27, 2012 |
ATLANTIC CITY - This town's oldest casino is heading to Margaritaville. Under a sweltering, tropics-like sun Tuesday, Gov. Christie and Jimmy Buffett, creator of the iconic 1970s tune, appeared on a stage on the Boardwalk to announce a new partnership between Resorts Casino Hotel and the singer/songwriter/entrepreneur to create a Margaritaville-themed restaurant, bar, and surf shop. "Margaritaville will help transform Atlantic City," said Christie, wearing a lei over his dark suit.
March 5, 2012 |
Tom Byrne , host at 97.5 the Fanatic, returns to the sports-radio station at 9 p.m. tomorrow for the first time since his arrest Jan. 16 for a late-night assault on a cab driver in Center City. In an exclusive interview Friday, Byrne told us he has been involved in an alcohol recovery program since his arrest and has been sober since Jan. 17. Byrne, 31, said he could not discuss the incident for which he faces a preliminary hearing April 17 on charges of assault and robbery, over allegedly stiffing the driver a $5 fare.
February 26, 2012 |
Dennis Gomes, 68, co-owner of Resorts Casino Hotel in Atlantic City and a former mob-busting Las Vegas prosecutor whose exploits inspired the movie Casino, died Friday, his son said. The Margate, N.J., resident died at Thomas Jefferson University Hospital of complications from kidney dialysis, said Aaron Gomes, vice president of operations at the casino. Dennis Gomes had developed kidney problems and was undergoing dialysis after breaking his back last year. "Whether or not it was related to his back we will never know, but he ended up having major kidney issues and was put on temporary dialysis," Aaron Gomes said.
February 24, 2012 |
Veteran Atlantic City gaming executive Dennis Gomes, known for his often-outrageous, and sometimes controversial, casino promotions died early this morning. The co-owner and CEO of Resorts Atlantic City since December 2010, he was 68 and lived in Margate, N.J. Details of his death have not yet been released, but Thomas Jefferson University Hospital in Center City confirmed Gomes' died there, according to the Associated Press. Gomes had a reputation in the gaming industry as something of a maverick.