Before I leave the area I want to share a list of articles that I find interesting. I’m also posting them in case I’d like to read them completely while I’m away.
It looks as if the racino at Aqueduct raceway in New York is dead.
Atlantic City’s newest excuse for losing money – “It snowed.”
New way to play 3 card poker – Ultimate 3 Card Poker. First glance tells me to stay away.
Sad news. Hard Rock Las Vegas president commits suicide.
My man Manny Pacquiao is fighting this weekend against Josh Clottey. While this isn’t the fight most people really want to see this could be a real battle for Manny. Clottey won’t fall easily. I hope I can find a bar showing the fight tomorrow night. If Manny wins it should set up a good fight in December with Sugar Shane or Floyd.
Keep up on fight news with ESPN Boxing. There usually isn’t a lot of content, but the content is quick and easy to read. Enjoy 5 Good Minutes with Freddie Roach.
This was a slow week after a fun time in Atlantic City last weekend. I waited outside of Harrah’s for a cab, without a coat for 15 minutes, and caught a cold. Oh well, such is life. I ended up about even and didn’t pay for a meal so the trip was good. The next few weeks will be off and on since I will be away on business. I’ll forward out any interesting articles I see on twitter, so follow me in you like.
Carl Icahn has, finally, received full approval from the New Jersey Gaming Control Commission to take control over the Tropicana in Atlantic City.
“Carl Icahn’s return to the business of gaming in New Jersey certainly brings … signs of rejuvenation and optimism in the market,” Sharon Anne Harrington, the commission’s vice-chair, said in a statement.
There you have it. Atlantic City found some rejuvenation and optimism this week. Now it’s time to get to work Mr. Icahn.
Rumor has it that Sands is looking to sell it’s brand new Sands Bethlehem Casino. That was quick. The hotel portion of the casino hasn’t been completed and table games in Pennsylvania are right around the corner.
Las Vegas Sands released its 2009 fourth-quarter report last week, which showed Sands Bethlehem with an operating loss of $2.1 million on revenue of $57.5 million.
With its close access to New York and New Jersey customers and its $743 million price tag — the highest for a Pennsylvania casino — Sands Casino Resort Bethlehem had expected to be a major success among Pennsylvania casinos. But things haven’t gone according to plan for the casino. The property’s hotel, mall and conference center had been scheduled to open with the casino May 22, but construction on the three amenities stopped in October 2008 and hasn’t resumed.
I don’t see the casino going away completely, but it’s interesting to think that the corporate folks at Sands couldn’t have projected the market to not being a “mega-market” like Macau. I guess it would be easier for Sands to cut their losses and focus on big money than to see the project through.
For what it’s worth, the Las Vegas Review Journal reports that Sands isn’t looking to sell.
High drama in big business! On a personal level without a hotel a casino will never get my business. I look at gambling as a little time away from the rest of the world and don’t want to drive home the same day I play. Nor to I want to drive to another hotel. I’m usually not in condition to do that anyway.
New rumor: Harrah’s is buying Palms next. How can this be possible? Steve Friess from The Strip Podcast was the first person I saw with this rumor. After reading his blog and the accompanying Financial Times article it seems as if we have a repeat of how Harrah’s purchased Planet Hollywood.
The piece relies on anonymous sources, albeit more than one, and notes that “the investment points toward a systematic strategy by Harrah’s to acquire other casinos through their distressed debt.”
Friess followed up this with a call to George Maloof, owner of Palms, to get even more information on the subject.
I just hung up with George Maloof, who cast doubt on the Financial Times’ report that Harrah’s has been buying up Palms debt by saying, flat-out: “They’re not going to take over my company. It’s so far remote.”
Great job of digging for info here. I love the Palms in the same way I love Planet Hollywood. Maybe it’s the independent nature of those casinos that draws me or maybe it’s the youthful, energetic crowd that both casinos seem to draw.
Mass homogenization of casinos is boring and it seems as if that’s where Las Vegas is heading. This will create a wider gap for casinos like Wynn/Encore from MGM-Mirage and Harrah’s properties.
There is part of me that will pay for great service and there is another part that loves the comps provided by “The Man.” I will sit here torn a little as I ponder whether or not I’m going to make it to Harrah’s in Atlantic City.
ALSO: Props to Steve Friess for the info here. Follow The Strip Podcast on twitter, read the blog for more info and check the podcast. A great source for Vegas info from a person that’s actually in Vegas.
Still dealing with bankruptcy, Trump Resorts in Atlantic City is reconsidering the possibility of selling Trump marina.
In testimony Wednesday, Trump Entertainment’s financial adviser said Trump Marina’s sale would help stabilize the company amid declining revenue and lower earnings projections. He predicted a deal with Fields would be completed by the end of 2011, if not sooner.
“It is our strong belief that the Marina will be sold,” said Andrew Yearley, managing director at Lazard Freres & Co. “They will find a way to sell that asset. There is a legitimate buyer out there.”
This could also still be an option that Carl Icahn had in mind if he wins the battle for the Trump casinos. The article also mentions that if Icahn were to get control of Trump casinos that he would keep Taj Mahal and try to sell Trump Marina and Trump Plaza.
There is hopes for the Parrotheads after all! Now, things get interesting.
I like to play slot machines and I know that the lower the denomination put in, the lower the payout. I like to think of myself as a somewhat intelligent gambler. Well, when it comes to the loud noises and bright lights of penny slots I become zombie-like and move forward slobbering for a new penny slot.
Dr. Dave Schwartz at Die Is Cast has a breakdown of which slots are most played and make the most money. The answer this year is penny slots.
The information is from Las Vegas and I’ve certainly contributed a few bucks to the totals for 2009. Dr. Dave has more information on the subject and economy on Die is Cast.
Even though I know penny slots will take my money, I’m pretty sure I’ll keep on playing. Thankfully I have the one bill rule per slot now to quell my losses.
I’m a gambler from the east coast, but gamble wherever I may have the chance. East Coast Gambler will chronicle my research on gambling and news about Atlantic City, Las Vegas and Sports. Occassionally there will be a trip elsewhere, but this is where most of my gambling occurs.
