Robin Camacho
Las Vegas Real Estate
David McKee
Stiffs & Georges
Jean Scott
Frugal Vegas
Cannery Casino Resorts (29) [RSS]
Melco Crown Entertainment (29) [RSS]
Morgans Hotel Group (32) [RSS]
Pinnacle Entertainment (60) [RSS]
Tropicana Entertainment (90) [RSS]
World Series of Poker (6) [RSS]
Illinois: No country for big casinos
JohnTerez said: What your name? , <a href="http://pdabooks.org/membe... noir wine&l... [More]
Nevada: The Stupid State
PortoM0n said: Don't go far away. , <a href="http://cool-wallpapers.ev... cool wall... [More]
They burned the Monte Carlo ... and may get away with it
JohnTerez said: Try see it. , <a href="http://smart.fm/lists/152... glass supplies</a>... [More]
Nevada: The Stupid State
PortoM0n said: Hi brothers and sisters! , <a href="http://boxesandarrows.com...... [More]
They burned the Monte Carlo ... and may get away with it
SoloJ3ss said: Great... , <a href="http://boxesandarrows.com... to make deer a... [More]
Enter your email address to subscribe to this blog.
alex yemenidjian ameristar animals architecture atlantic city australia baseball boulder strip boyd gaming california cannery casino resorts carl icahn charity cirque du soleil citycenter colony capital colorado columbia sussex cosmopolitan current detroit dining don barden donald trump downtown economy election encore entertainment environment florida fontainebleau g2e george maloof harrah's harry reid herbst gaming horseracing igt illinois indiana international internet gambling isle of capri james packer kansas kentucky labor lake tahoe laughlin lawrence ho louisiana lvcva m resort macau marketing massachusetts melco crown entertainment mesquite mgm mirage michael gaughan mississippi missouri monte carlo fire morgans hotel group movies neil bluhm ohio oscar goodman penn national pennsylvania pets phil ruffin pinnacle entertainment planet hollywood politics problem gambling regulation reno riviera sahara sheldon adelson singapore sports stanley ho station casinos steve wynn tamares group taxes technology the strip tilman fertitta tourism transportation tribal tropicana entertainment tv wall street
Posted At : January 10, 2008 01:25 PM | Posted By : D McKee
Related Categories:
Steve Wynn,Atlantic City,Election
It was only a matter of time before former Caesars Entertainment CEO Wallace Barr emerged as a suitor for the Atlantic City Tropicana. After all, the former Dunes site owned by Barr and equity partner Curtis Bashaw is only partially gaming-enabled. It also turns out that Bashaw is redeveloping a pair of old hotels in close proximity to the Trop, so the much-disparaged Columbia Sussex casino-hotel makes an attractive real estate play.
Bashaw and Barr have been pretty quiet about their plans for the ex-Dunes site, so the less zoning-restricted Trop may hold more attraction, especially since it has ongoing cash flow (much less gaming revenue than before William Yung III took over, but EBITDA by any other name spend as sweet). Presumably, the two B's could also fund a big chunk of the acquisition by flipping the land they presently own (which generates no revenue, period), thereby amortizing a huge chunk of the $850 million to $1 billion the Trop could fetch. (Or, Dr. Evil would say, "Why make trillions when we could make ... billions?")
Ouch! Another bad month for Atlantic City. Even table games are down this time. The NJCCC puts the best face possible on the numbers but help, in the form of new properties, is still a fair ways off. No surprise that the Tropicana is 2007's biggest loser, down 12% overall (although sixth-largest in sheer volume of win) but -- despite a catastrophic December at the slots (off nearly 26%) -- it is saved from the bottom of the month's pile by a table-games wipeout at Resorts Atlantic City.
Only Borgata increased win in December, but Caesars and Harrah's Marina also posted strong year-end numbers, no doubt helped by incredible last-minute luck at the tables for Harrah's Marina, up 46% from last December. Trump Marina had a good month at the tables, too.
Great new look at the Las Vegas Sun's Web site. (But where did the darn Business section go?) The R-J's remains a trainwreck. Speaking of which ...
ObaMania -- not: Erin Neff analyzes the Culinary Union's endorsement, is underwhelmed. The Gray Lady is among those belatedly discovering Nevada. (Don't get distracted by the Natalie Portman video link; do not look for it halfway down the right side of the page, okay?) National Public Radio has also been clued into our existence, and manages to be as insufferable as ever in the process.
Shameless Self-Promotion Dept.: Actually, the best thing about this story is the accompanying graphic.
Print | 
Send to Friend | 
del.icio.us | 
Digg It! | 
Linking Blogs |
There are no comments for this entry.
[Add Comment]