I’ve returned home from a solo vacation to Las Vegas and I’m ready to go back already. Not ready to leave today, but ready to plan for my next adventure. I had a great time and met a lot of nice people. This week in review looks back at some of my trip and some casino information from Atlantic City. There’s also a cool new sports betting tracker app that I’m looking forward to trying.
Actually, Morgan Stanley didn’t even get halfway there when they decided to pull out of the stalled Revel casino and hotel in Atlantic City.
Wall Street giant Morgan Stanley decided it was better to take a $932 million loss on a casino-hotel it was developing in Atlantic City than spend the $1 billion it will take to finish Revel.
That’s a big loss, but I guess the outlook for he market makes it wiser to lose half of the investment then the whole thing. I’m sure finding a buyer won’t be easy, but it will be a way to cut the losses even further.
I’m sure there is much more to come with Revel in the future.
There have been a few good articles in the past few days. I keep looking at them, but don’t have much to say about any of them, so I’m doing a roundup to share them in case you’d like to read.
Stiffs and Georges wonders aloud if Steve Wynn will skip Philadelphia for Atlantic City. I’m not sure what to make of this, but I’m sure the casino market in Atlantic City would love this.
Hooters Casino in Las Vegas narrows losses, but bankruptcy may be around the corner. No surprise here.
Trump gets a loan for Las Vegas. Bankers are stoked. No casino. No ECG.
Morgan Stanley cuts their losses in Revel in Atlantic City. Will this project ever get finished?
Vegas Chatter looks at some dead zones for your mobile devices in Vegas. I don’t recall a problem at the Palazzo last time. I also wasn’t very sober.
Vegas Today and Tomorrow has some pictures and renderings of the construction at Wynn for their Beach Club. I’ll check this out when I’m in town. Maybe not the construction, but certainly Wynn. And Encore.
New Blog Alert: Vegas Mavens. Looks like another blog about Vegas casinos and hotels with a little lean towards downtown. They use the same wordpress theme used on ECG V.2 so they can’t be that bad. FWIW, this is V.3.
Audrina Patridge from The Hills was at Wet Republic this weekend. She’s awesome.
Lots of news this week mainly consisting of news from the east. My trip to Las Vegas was thisclose to falling through, but it seems as though I’ll make it! I got a little assistance choosing which hotel I should stay at: Palazzo or Planet Hollywood. Thank you!
This trip will be a little different than recent trips to Vegas since I won’t be planning any dinners or events. I’ll just be flying by the seat of my pants since I’m traveling alone.
Revel is being allowed the possibility of receiving $300 million in tax breaks should they complete construction on the casino that’s about half way done in Atlantic City.
In a move that caught opponents by surprise, New Jersey senators voted Monday to ensure that hundreds of millions of dollars in tax breaks for the Revel Entertainment Group’s Atlantic City casino project cannot be overturned by public petition.
Sure tax breaks for corporations aren’t nice to look at on the surface, but the Atlantic City casino market needs Revel to be completed to compete with the increased competition it’s facing from the surrounding states. If the casino was not completed New Jersey would never see a penny in casino, real estate and other taxes. This is a smart, aggressive move by New Jersey. Something you don’t see very often.
A stop and go week capped off with a great fight last night. At this point I don’t think Manny can be stopped. I’ll sit on that and recap later. For now…the week in review.
Aenean dui quam, pellentesque ut, commodo ac, tempor aliquam, turpis. Etiam accumsan rhoncus nisi. Morbi velit enim, mollis et, elementum sit amet, egestas sed, diam. Curabitur scelerisque, nulla et facilisis fringilla, sapien elit auctor augue, at porttitor ipsum nibh faucibus ligula.
