patrick.net

Watch out, in Vegas, you can have a $200/person dinner that is just meh. But then you have the buffet pass. :-)

http://news.yahoo.com/bankruptcy-judge-rule-friday-82m-revel-casino-sale-200932633.html
New bidders try to squeeze into Revel casino sale process

CAMDEN, N.J. (AP) — Nineteen would-be buyers of Atlantic City's former Revel Casino Hotel have expressed interest in acquiring the shuttered seaside gambling hall.
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To them, Revel's lawyers had a simple response Thursday: Show us the money.

A federal bankruptcy court judge will decide Friday whether to approve its sale. Glenn Straub's Polo North Country Club has an $82 million deal to buy the casino from Revel AC. The casino cost $2.4 billion to build.

But even if Judge Gloria Burns sanctions the sale, the contract contains a loophole that allows Revel to accept a better offer if one comes along before the scheduled March 31 closing date.

At least two other would-be buyers have said they want to be considered: Los Angeles developer Izek Shomof and New York private equity investor Jeffrey Keating.

Revel and Showboat finally sold!
http://finance.yahoo.com/news/judge-enters-sale-order-revel-150419443.html

Florida developer Glenn Straub's Polo North Country Club is buying the casino, which cost $2.4 billion to build, for $82 million, or about 4 cents on the dollar.

Straub said last week he may have a way around the power plant standoff: connecting Revel to the utility grid through the former Showboat casino next door, which he bought from Stockton University on Friday.

On Friday, Straub unveiled what he called The Phoenix Project: $500 million worth of development projects in Atlantic City including the purchases of Revel and the Showboat. He said he plans to submit a proposal to transform the former Bader Field airport site that will re-open part of it as an aviation facility. His plans also include an extreme sports complex, two marinas, a world-class equestrian complex, waterparks, universities and high-speed ferries and helicopter service connecting to Manhattan.

http://www.casinonewsdaily.com/2015/04/06/the-phoenix-project-brings-new-life-to-atlantic-city/
Rumour has it that Revel will be opened for visitors by the summer.

I drive past this sign every time I go to Atlantic City. Finally got a good picture of it in June:

I still giggle when I see it.

ShowBoat reopening
http://finance.yahoo.com/news/atlantic-citys-showboat-reopening-without-casino-164307175.html

ATLANTIC CITY, N.J. (AP) -- The shuttered Showboat casino hotel will reopen next month — this time as a non-gambling hotel, a developer said Friday.

Philadelphia developer Bart Blatstein said 852 of the complex's 1,300 rooms will be open to the public in July. The hotel will still be called the Showboat.

#ShowBoat

Smart move to keep the name too.

Casinos fuck every city and town where they're introduced, trading a short-term boost in tax revenue for higher addiction and broken finances among many citizens.

The only defense of casinos is if a nearby state has them. Since you're going to eat the increase in suicide and addiction (gambling, alcohol, drugs) from your people driving to the casinos, you might as well open casinos locally: You get the revenue to fund addiction treatment, aid for abandoned families, and cleaning up abandoned houses.

If it's not an addiction, why are casinos open at 3:20 a.m. on Wednesday morning?

All casino owners should be rounded up and sent to gas chambers.