patrick.net

http://www.pressofatlanticcity.com/news/how-trump-taj-mahal-might-reopen-in-a-few-months/article_00470569-5c9c-5c41-ae57-e844124f6c63.html

How Trump Taj Mahal might reopen in a few months

TLANTIC CITY — Could the recently shuttered Trump Taj Mahal Casino Resort be reopened in a couple of months with a different name and workforce?

Some people think so.

Taj Mahal owner Carl Icahn and representatives of the casino have remained silent on the future of the more than 4.2 million-square-foot property since announcing in August that the resort would close. But some, including state Senate President Steve Sweeney, D-Salem, Gloucester, Cumberland, have expressed concerns about the property being closed for a couple of months, then reopening under a different name and without union employees.

The road to reopening the facility might not be that difficult for Icahn. The property’s casino license remains in effect and valid until it is surrendered through a Division of Gaming Enforcement order, said state gaming officials. Typically, casino license surrender can take place several months after a property is closed, officials said.

If Icahn decided to reopen with an operation similar in size and scope to the former Taj Mahal, the property would have to hire 2,500 employees.

The aging property is also in dire need of updating. When Icahn took over the casino hotel, he promised more than $100 million in investment, but he has decided to hold off until after the November North Jersey casino vote.

“Shutting down a casino that is profitable for six months is quite a hit,” said Gordon Lafer, a professor of labor at the University of Oregon, adding the casino market in the city has returned to profitability since four casinos closed in 2014.

In 2015, the property generated $15 million a month in gaming revenue, according to the DGE.

Rebranding a property can give it a new image, said Rummy Pandit, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University.

“When you rebrand a property, you are starting from scratch, in a way,” Pandit said. “You are always going to have an issue with some people knowing it by its previous name, but that isn’t always a bad thing, because there is at least some awareness of you existing in the marketplace. One of the challenges with rebranding is that you have to clearly develop and target market segments all over again.”

The success of the casinos in the Marina District would force the next incarnation of the Taj Mahal to focus on nongaming entertainment if it wants to be successful, said Richard Perniciaro, director of the Center for Regional and Business Research at Atlantic Cape Community College.

“With the recent announcement that the Showboat has been released from its need to be a casino property, it would seem that (Bart) Blatstein and, as also announced, (TEN owner Glenn) Straub understand that to be successful at that end of the Boardwalk and in a shrinking gaming market, noncasino entertainment is a must,” Perniciaro said. “The Taj will need to move in that direction. The marina area is too much of a casino gaming magnet to try to challenge them for market share.”

junkmail says

Hey Dennis.. fuck off. You are not part of this community.

Elitist insider much? Ohhh wait ... makes perfect sense in relation to this thread topic. Establishment 2009 Pnet versus the 2012 newcomer. Dennis is far more the outsiders outsider than you! Drain the swamp! Ban junkmail!

:) teee-heeee

But then Pnet might not exist ... sniff sniff ... what would the world come tooooooooo.

What if I bought a house in 2006 in San Diego?

How much more fiat currency do we have now than in 1997?

just any guy says

What if I bought a house in 2006 in San Diego?

You would have lost nothing. You would have actually gained, because some of the principal balance would have been paid off.

APOCALYPSEFUCK_is_ADORABLE says

Fourthly, he'll appoint Charles Keating comptroller of the currency

He met an untimely death.

Daaaaaaamn

Rubbing it in on aisle two

Dennis Baughn says

There will be no wall

There will be a wall. Those who want to immigrate to the US legally are welcome, but must get in line like everyone else.

Dennis Baughn says

A deportation force to round up and throw out 11 million undocumented people would be a logistic and economic nightmare

True. Trump only plans on deporting criminals. Good riddance.

Dennis Baughn says

and no ban on Muslims entering the country

Muslims from terrorist countries like saudi Arabia and Pakistan should be banned. We don't need them.

Dennis Baughn says

Funding and maintaining a website that celebrates abject racism, misogyny, and other disgusting behaviors under the guise of "free speech" is another example of a really bad decision. I wouldn't be surprised if he got blackballed from the tech industry.

"Free" speech should NEVER be free of consequence. Words should ALWAYS have consequences, good or bad, or else they are meaningless.

You're pegging Patrick to that? You are off your rocker sir. You're twisting is beyond comprehension.

Dennis Baughn says

Strategist says

There will be a wall.

Oh aren't you precious. Of course there will be a wall. Just like Bush's wall and everyone else who promised a wall before.

Politicians always lie. Trump is a businessman. He makes promises.

Didn't take long for the lefty assholes to start posting monkey/chimp/orangutan pictures of the president elect. Fucking hypocrites would shit their pants and scream RAYCYST if that happened to Obummer. In fact, if I recall it DID happen early on causing a firestorm.

Expect to see this ad nauseam for the next 4 years from people like dick-nose Dennis.

Good job roberta.
I see you are on step 7 of Dickwads Anonymous, self-disassociation of previous Dickwad personalities.
Dennis Baugh says

No, I am NOT some loser who teaches remedial math at a shithole community college in the middle of the desert.

Dennis Baughn says

Funding and maintaining a website that celebrates abject racism, misogyny, and other disgusting behaviors under the guise of "free speech" is another example of a really bad decision. I wouldn't be surprised if he got blackballed from the tech industry.

"Free" speech should NEVER be free of consequence. Words should ALWAYS have consequences, good or bad, or else they are meaningless.

Don't blame the opinions of individuals on Patrick. Free speech is free speech, wether you like it or not.
Thank You for the free speech site, Patrick.

Dennis Baughn says

Funding and maintaining a website that celebrates abject racism, misogyny, and other disgusting behaviors under the guise of "free speech" is another example of a really bad decision. I wouldn't be surprised if he got blackballed from the tech industry.

"celebrates" pfffft

2016... the year when it's become trendy for liberals to accuse anyone who thinks differently than them of being racist and misogenistic 👎🏿

there are some bad apples here, but Patrick most certainly doesn't fall in that category

Dennis Baughn says

There will be no wall

You seem very confident.
I'll bet you $100.00 Trump will start building a wall.

Dennis Baughn says

Same if you lie down with camels. Stop supporting terrorists.

Dennis Baughn says

Strategist says

I'll bet you $100.00 Trump will start building a wall.

Hahaha, you really are precious aren't you. "Start", sure thing pal.

The loser sends $100 to Patrick to be used towards the next meet up he attends. Are we on?

Dennis Baughn says

They did the same to Obama AND Bush AND Clinton. Grow up and quit acting like a little bitch.

Bush A LOT Obama, not so much dick nose.

When you teach remedial math do you cover the concept of magnitude or is that just too much for you and your students?

Dennis Baughn says

I say let them come HERE so we don't have to send poor people's children to die over THERE because Strategist is AFRAID.

So you think letting Saudis and Pakistanis into the US will reduce terrorism, and prevent wars.
You are nuts.

Those are pretty good!

Post more!

Dennis Baughn says

I am not afraid of terrorists.

Dennis Baughn says

I say let them come HERE

Dennis Baughn says

This is extremely disgusting and racist. Shame on you Dennis.

MrWonderful says

Dennis Baughn says

I say let them come HERE

MrWonderful says

Dennis Baughn says

I am not afraid of terrorists.

Dennis Baughn says

I say let them come HERE

MrWonderful says

Dennis Baughn says

I am not afraid of terrorists.

Dennis Baughn says

I say let them come HERE

MrWonderful says

Dennis Baughn says

I am not afraid of terrorists.

Dennis Baughn says

I say let them come HERE

MrWonderful says

Dennis Baughn says

I am not afraid of terrorists.

Dennis Baughn says

I say let them come HERE

MrWonderful says

Dennis Baughn says

I am not afraid of terrorists.

Dennis Baughn says

I say let them come HERE

1 Bush > 2 Clintons + 1 Obama

Hell, Trump isn't even president yet and he's approaching 800K.

Dick

Nose

Racist fuck:

The only Wall is that by Pink Floyd. Here's that album, dedicated to the Don ...

www.youtube.com/embed/M5qpfNfv8Qw

Dick nose Dennis claims PatNet has racists.

Dennis Baughn says

Yeah, renting instead of buying is a great move!

That is right!

Instead of buying, Patrick invested the down payment money ($100,000) in AAPL at 50c/share (adjusted price). This week he sold 1/3 of his position at $110/share to buy a 2.5mil house cash + capital gains taxes. The examining equity position pays him over $120,000/y in dividends.

Worked out sort of like that for me. Waiting instead of buying allowed me to not sell under $200K company stock, that I was sure would go way up, to later cash it out, pay taxes and still have nearly $1.25 million. Picked up some cheaper out of state houses for around $50K a pop as well which cash flow.

200K wouldn't have bought me shit on the peninsula and if it did I would be seriously house poor right now.

That excludes the other small investments I had at the time which also grew well in this market. No debt that isn't a low leverage asset feels awesome!

You can tax the rich all you want, but the old model of taxation always applies, and applies to the rich more than anyone. If your tax burden is too high, people stop producing as much. Consequences of taxing anyone too highly is the same: they move or stop producing so your tax intake goes down anyway. Taxing less always leads to more production and a larger pie, but the key is to find the exact right ratio to maximize the pie and tax revenues at once.
Expanding the middle class with good jobs returning to the States would help tremendously with your overall tax revenues. And capital gains taxes could go to 25%, to incentivize real investment rather than passive stock trading.
Then do away with corporate loopholes and all incentives for offshoring, and adjust the maximum corporate tax down to 25%, to incentivize investment in job-creating activities.
That and leaving the income taxes mostly alone should produce a surplus rather than a deficit. Remember, the more people working, the fewer we must pay to sit around, and the more we can collect through taxes.
Also these new working people will buy stuff and make the economy grow. Pretty soon we will actually have a need for immigration as we will have more jobs to fill than citizens to fill them.
So everyone wins.
The Eastern mystics have it right. It's all about balance.

Dennis Baughn says

In surveys conducted before the election, no religious group backed the Republican candidate as strongly as white evangelical Protestants

IT was the cocaine sniffles that really locked it down for them. A lot of those born again types are recovering drug or alcohol addicts. On a subconscious level, they also respect the extreme dishonesty Trump displays.