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BUSINESS
March 13, 2011 | By Suzette Parmley, Inquirer Staff Writer
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.
BUSINESS
January 21, 1997 | By Jacqueline L. Urgo, FOR THE INQUIRER
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.
NEWS
October 4, 1996 | By Amy S. Rosenberg, INQUIRER STAFF WRITER
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.
NEWS
June 14, 2015 | By Dan McQuade, For The Inquirer
The Borgata is taking its customers to a place they haven't usually been directed to: outside. On Saturday, on what was a small patch of grass sandwiched between two parking garages and a surface lot, the Borgata Hotel Casino & Spa will open Festival Park, a laid-back outdoor concert venue. The kick-off event, with a low price tag ($20, meant to build buzz), features bands with ties to New Jersey (Southside Johnny and the Asbury Jukes) and Philadelphia (the Hooters, G. Love and Special Sauce)
NEWS
May 23, 2003 | By Ed Condran FOR THE INQUIRER
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.
NEWS
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.
BUSINESS
January 22, 2009 | By Suzette Parmley INQUIRER STAFF WRITER
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.
BUSINESS
July 11, 1998 | DOW JONES NEWS SERVICE Inquirer correspondent Scott Fallon contributed to this article
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.
BUSINESS
November 2, 2007 | By Suzette Parmley INQUIRER STAFF WRITER
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.
BUSINESS
January 21, 2009 | By Suzette Parmley INQUIRER STAFF WRITER
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.
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NEWS
June 14, 2015 | By Dan McQuade, For The Inquirer
The Borgata is taking its customers to a place they haven't usually been directed to: outside. On Saturday, on what was a small patch of grass sandwiched between two parking garages and a surface lot, the Borgata Hotel Casino & Spa will open Festival Park, a laid-back outdoor concert venue. The kick-off event, with a low price tag ($20, meant to build buzz), features bands with ties to New Jersey (Southside Johnny and the Asbury Jukes) and Philadelphia (the Hooters, G. Love and Special Sauce)
BUSINESS
September 6, 2014 | By Harold Brubaker, Inquirer Staff Writer
Atlantic City's Trump Taj Mahal warned in a recent financial filing that it was in danger of running out of money to pay its bills and make debt payments. Trump Taj Mahal Associates L.L.C., the entity that owns the casino - the world's biggest and most lucrative casino when it opened in 1990 - said it needed to borrow more money or restructure its business. The casino could not guarantee it would be successful, said the filing, which was published Aug. 22. According to New Jersey regulators, the casino employs 2,825.
NEWS
July 16, 2014 | By Suzette Parmley, Inquirer Staff Writer
ATLANTIC CITY - With the Trump Plaza Hotel & Casino's expected closing, Donald Trump, whose name is emblazoned on the casino and who once owned three of the gambling palaces here, said he can't help but feel bad for the resort he helped build. In an interview Monday, Trump also predicted that an oversaturation of casinos would mean more closings in other places, including the Philadelphia area. Trump endured multiple bankruptcies as head of Trump Entertainment Resorts Inc., and he and his name will always be linked with Atlantic City even if his share of the casinos is now only about 10 percent.
ENTERTAINMENT
July 13, 2013
Casinos Bally's Atlantic City Park Place & The Boardwalk, Atlantic City; 609-340-2000. www.ballysac.com . Legends in Concert. $32.50; $16.25 children. 7/12. Borgata Hotel & Casino 1 Borgata Way, Atlantic City; 609-317-1000. www.theborgata.com . Los Lobos. $45-$49.50. 7/12. 8 pm. Seth Meyers. $39.50-$45. 7/13. 9 pm. Kevin James. $65-$145. 7/13. 8 pm. Jeff Dunham. $59.50-$75. 7/14. 8 pm. Sold out. Bay-Atlantic Symphony: Schubert & Tchaikovsky. $25. 7/14. 5 pm. Comedy Stop at the Trop Brighton & the Boardwalk, Atlantic City; 609-822-7353.
BUSINESS
March 10, 2013 | By Suzette Parmley, Inquirer Staff Writer
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.
BUSINESS
July 12, 2011
In the Region A.C.'s June casino revenue drops Even the start 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 had $276.2 million in revenue, with nearly 73 percent of that coming from slot machines, or $200.5 million, New Jersey's Division of Gaming Enforcement said Monday. 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.
NEWS
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.
NEWS
May 28, 2011 | By Suzette Parmley, INQUIRER STAFF WRITER
ATLANTIC CITY - The scene at Resorts Casino Hotel Friday was circus-like, with the unveiling of its Roaring Twenties theme taking the center ring, so to speak, just in time for the busy Memorial Day weekend. Seven vintage cars from the 1920s were parked on the Boardwalk outside the casino, and cocktail waitresses modeled their new black "flapper" dresses. There was even a high-wire act involving trapeze artists and a motorcycle. But as it turns out, Resorts also plans to bring the real circus to the Shore.
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