March 13, 2011 |
ATLANTIC CITY - A casino's size and freshness often equate to market success. Yet two of the smallest and oldest gambling halls here, Resorts and Trump Marina, are banking on old themes to bring them new glory. At Resorts, gaming-industry veteran Dennis Gomes - who with JEMB Realty Corp., of New York, bought Atlantic City's first casino from its lenders in December for $31 million - envisions a return to the Roaring Twenties, complete with flapper dresses (designed by him) for cocktail waitresses and period uniforms for bellmen, butlers, valet staff, and table dealers.
January 21, 1997 |
The Trump Castle Casino Hotel will undergo a $125 million face-lift, courtesy of a West Coast real estate investment trust. The project is expected to give the property a "more youthful feeling" when it is renamed Trump Marina as early as this summer. Under an agreement announced yesterday between Trump Hotels & Casino Resorts Inc. and Colony Capital, the Los Angeles property investment firm will hold a 51 percent stake in the Castle property. Trump Hotels will retain a 49 percent interest and will continue to manage the marina-front resort.
October 4, 1996 |
It won't be easy for him, but casino mogul Donald J. Trump may soon take his name off his Trump's Castle and turn it into a Hard Rock Hotel and Casino. Or will he? While Hard Rock Cafe officials were insisting yesterday that their pending deal with Trump would require him to part with one of his larger-than-life logos on the Atlantic City skyline, Trump himself seemed increasingly uneasy about the idea. "That's wrong," he said in a telephone interview from Scottsdale, Ariz.
May 23, 2003 |
Atlantic City will be going upscale this summer. The much-ballyhooed Borgata Hotel Casino & Spa, scheduled to open in July, will cater to the bluebloods as opposed to the bluehairs. The Las Vegas-style establishment is setting the pace, as a number of other casinos are expanding, updating rooms, and adding four-star restaurants. Despite the alterations many casinos are making, the variety of entertainment remains fairly constant. Atlantic City standards such as Tom Jones and Smokey Robinson will return, and a few noteworthy acts who seldom come to town, such as Mariah Carey and Justin Timberlake, will grace local stages.
July 11, 2011
Even the arrival of the peak summer season didn't boost Atlantic City's woes, as casino revenue fell 3.7 percent last month compared with a year ago. The 11 gambling halls generated $276.2 million in revenue, with nearly 73 percent of that coming from slot machines, or $200.5 million. The rest came from table games. Borgata led the pack, generating nearly $57 million, while the former Trump Marina - now a Golden Nugget - came in last place at $10.8 million. Though June is considered one of the most profitable months for Atlantic City as large crowds visit the Shore, seven of the casinos posted revenue declines.
January 22, 2009 |
Donald Trump's struggling casino company yesterday won a two-week reprieve to continue talks with lenders and bondholders as it fights to avoid bankruptcy. "We're glad we are continuing to talk, and that we have until [Feb. 4] to make more progress," said Mark Juliano, chief executive officer of Trump Entertainment Resorts Inc., which owns the Trump Taj Mahal, Trump Plaza, and Trump Marina casinos in Atlantic City. "We've been involved in ongoing discussions for a while, and things are continuing to be discussed.
July 11, 1998 |
Trump Hotels and Casino Resorts Inc. yesterday began a cash offer to repurchase $242 million in debt securities as part of a refinancing at its Trump Marina hotel and casino in Atlantic City. The offer is for all of its mortgage notes due in 2003, which pay 11.75 percent annual interest. Holders of the notes, if they accept the deal, would receive 94 percent of the face value, plus accrued and unpaid interest. The Wall Street Journal reported yesterday that Germany's Deutsche Bank AG has agreed to refinance the troubled casino company at a substantially lower interest rate than 11.75 percent.
November 2, 2007 |
In what has otherwise been a tough year, casino operator Trump Entertainment Resorts Inc., owner of three casinos in Atlantic City, yesterday reported a jump of nearly 14 percent in its third-quarter profit despite a small drop in revenue. The company reported a quarterly profit of $6.6 million versus $5.8 million in the previous year. Net income per share was 21 cents, up from 19 cents a year ago. Net revenue for the Trump combined properties decreased to $281.1 million from $288.
January 21, 2009 |
Reflecting the challenges facing Atlantic City's gambling market, Donald Trump's casino company is faced with dropping revenue and is trying to dodge another trip to Bankruptcy Court. The deadline for Trump Entertainment Resorts Inc. to reach agreement with its lenders and note holders on restructuring $1.25 billion in debt is today. The company, which owns the Trump Taj Mahal, Trump Plaza and Trump Marina in Atlantic City, missed a $53.1 million bond payment on Dec. 1, and got a 30-day extension.
July 16, 2010 |
A lingering air-conditioning problem forced the temporary closure of Trump Plaza Hotel & Casino on Friday as temperatures outdoors swelled into the low 90s during Atlantic City's most profitable season. Trump Entertainment Resorts Inc., which owns Trump Plaza and two other casinos in Atlantic City, announced the closure just after 2:30 p.m. today. The company said Trump Plaza would reopen for business at 10 a.m. Sunday, with hotel guests let in by 1 p.m. the same day. "We have decided to temporarily close both our casino and hotel because the utility issue that has shut down our air-conditioning has brought the quality of experience in our hotel below the standards to which we consistently hold ourselves," Trump Entertainment chief executive officer Mark Juliano said in a statement.