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25% of Atlantic City casinos gone -gambling becoming a thing of the past in NJ


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2014 Aug 12, 12:41am   32,897 views  64 comments

by darlag   ➕follow (1)   💰tip   ignore  

No buyers could qualify for the bankruptcy sale of Atlantic City’s newest luxury casino, the Revel. It will shutter its doors in September joining other once famous names like Trump Plaza and The Showboat.

http://www.globaldeflationnews.com/25-of-atlantic-citys-casinos-gone-gambling-fast-becoming-a-thing-of-the-past-in-nj-resort/

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51   Peter P   2014 Dec 16, 7:46am  

BTW, cruise ship is by far the best way to travel. It shows how good things can be when the labor market is unregulated.

The crew is happy. They get to live and travel the world for free.

The passengers are happy. They get excellent service for a low, low fare.

Young people should definitely consider working on a cruise ship, although the smarter ones may opt for employment aboard a large yacht. More pay. More play.

52   Strategist   2014 Dec 16, 7:47am  

Peter P says

Strategist says

When they lose, they will try and recover their losses on the ship, and lose even more.

I love gamblers. I love losers. They subsidize my trips to Las Vegas. :-)

I'm going on Thursday, coming back Sunday. 3 nights, weekend...$490.00 at the Paris Hotel and Casino, including two 24hour buffet passes. Taxes and junk also included.
I'll bet $50.00 or something on sports games. I'm also taking Heineken beer with me, so I don't have to pay $7.00 a bottle there. I'm such an asshole. :)

53   Peter P   2014 Dec 16, 7:50am  

Strategist says

I'm going on Thursday, coming back Sunday. 3 nights, weekend...$490.00 at the Paris Hotel and Casino, including two 24hour buffet passes.

And you don't even have to fly there! So jealous.

In Vegas, they still give you free plastic bags when you shop. Unlike a certain people's republic state. :-(

54   Peter P   2014 Dec 16, 7:54am  

In vegas, my daily exercise routine is walking from Mandalay Bay to Wynn. Mostly indoors.

55   Strategist   2014 Dec 16, 7:55am  

Peter P says

Strategist says

I'm going on Thursday, coming back Sunday. 3 nights, weekend...$490.00 at the Paris Hotel and Casino, including two 24hour buffet passes.

And you don't even have to fly there!

I'm taking the Prius. 12 gallons round trip. $30.00 total gas.
The Saudis hate me.
Russia hates me.
Oil companies hate me.
Vegas hates me.
ha ha ha. I love it.

56   zzyzzx   2014 Dec 16, 12:15pm  

Strategist says

I'm also taking Heineken beer with me, so I don't have to pay $7.00 a bottle there. I'm such an asshole. :)

Bally's just raised the price of beer at the Jim Beam bar from $2 to $3, but still where are you going that they actually charge $7 for a beer?

57   zzyzzx   2014 Dec 16, 12:16pm  

Peter P says

In vegas, my daily exercise routine is walking from Mandalay Bay to Wynn. Mostly indoors.

In AC I just walk up and down the boardwalk, from the Trop to Revel.

58   Strategist   2014 Dec 16, 1:09pm  

zzyzzx says

Strategist says

I'm also taking Heineken beer with me, so I don't have to pay $7.00 a bottle there. I'm such an asshole. :)

Bally's just raised the price of beer at the Jim Beam bar from $2 to $3, but still where are you going that they actually charge $7 for a beer?

MGM, NYNY at the bar, Venetian. Those nice deals that used to exist in the major casinos are pretty much gone. Dinner Buffets are around $30.00. Even Circus Circus has its cheap and junky breakfast buffet for $15.00. I remember going to Circus Circus breakfast buffet for $1.99 in the early 1980's.

59   Peter P   2014 Dec 16, 2:38pm  

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

60   zzyzzx   2015 Mar 13, 9:39am  

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.
Related Stories

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.

61   zzyzzx   2015 Apr 6, 12:49pm  

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.

62   zzyzzx   2015 Jul 10, 9:35am  

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.

63   zzyzzx   2016 Jun 7, 11:42am  

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.

64   HydroCabron   2016 Jun 7, 11:49am  

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.

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