Margaritaville wastes away

Tue, 02 Jun 2009 12:20:00 -0700

In an utterly (not) shocking development, the interminably protracted sale of Trump Marina has given up the ghost. This deal was on life support for months, so today's bulletin merely ratifies the inevitable. The would-be reinvention of the Marina as "Margaritaville" has exhausted its last shaker of salt.

While it goes against the grain to give Donald Trump the benefit of the doubt, buyer Richard Fields' accusation of "fraudulent activity" sounds like a big stretch. The supposedly heinous deed was Trump Entertainment Resorts' movement of players from the Marina to Trump Taj Mahal and Trump Plaza.

Big whoop. Not only was this the obvious explanation for Trump Marina's plunge to the bottom of the Atlantic City food chain, it's what casino companies do. You don't sell a casino and leave your hard-earned customer base in place for the next guy's benefit. (Readers with long memories will recall that a deal by Park Place Entertainment to sell the Las Vegas Hilton to Silverton owner Ed Roski fell apart over the exact same issue.)

Had Trump CEO Mark Juliano not moved prime players to his two remaining properties, he'd have been derelict in his duty to the shareholders. Unfortunately, now he may have to build that customer base back up. I don't envy him the task.

It also strikes an odd note that Fields' lawyer accuses Trump of fraud and then Fields' spokesman has the brass to say Coastal Marina still might deign to buy the Marina -- at an additional discount. Juliano had already knocked 15% off the sticker price. Perhaps Fields is feeling emboldened by Carl Icahn's impending $200 million acquisition of the Tropicana Atlantic City and is attempting brinksmanship. Fields is making some big noises about shopping around Atlantic City for a different casino, describing the town as "the perfect market for a Margaritaville project."

Good luck with that, unless he's willing to settle for one of Colony C(r)apital's two near-death properties. Harrah's Entertainment is carrying at least one casino too many on the Boardwalk but there's no way in hell that CEO Gary Loveman parts with Bally's or the Showboat for a measly $270 million or so. Harrah's current reporting method really muddies the waters but the cash-flow numbers still imply an asking price well in excess of what Fields can afford.

Raymond Kot, 1952-2009

The accused killer of Trump Taj shift manager Raymond Kot is one messed-up motherfucker, and that's as gently as I can describe Mark Magee, who appears to have stalked and killed Kot in very cold blood indeed. Taj game-protection veteran Dr. David G. Schwartz offers some expert-witness testimony, if you will. Kot's only crime was to achieve the American Dream ... until his assassin decreed otherwise.

Casino commercial of the month

Wed, 20 May 2009 16:35:00 -0700

For at least the last four weeks, Silverton Casino Lodge has been conducting a hit-and-run campaign of "Livin' Lodge" TV spots. These polished 15-second vignettes concentrate on delivering one message and doing so with humor. That's a refreshing contrast to the now-familiar image barrage (of which both Green Valley Ranch and M Resort have been guilty) which attempts to cram approximately 273.86 discrete ad messages into your cranium in 30 seconds or so. Then there's the CasaBlanca ad which vouchsafes us the sight of Randy Black giving himself a pedicure. My girlfriend's two-word review: "It's disgusting!"

Of course, nobody trying to pass themselves off as a Daddy Warbucks would be caught dead at the Silverton ... but that's an inherent part of the jest.

Enjoy! There are plenty more from whence this came:

Express delivery: It seems like just yesterday I was touting the upcoming release of Arnold Snyder's Topless Vegas. (Oh wait ... it was yesterday.) Well, it's gone from a "Coming Attraction" to "Now Playing" in the blink of an eye.

Due to its file size, Topless Vegas can't be e-mailed, but if anybody is having problems ordering it, please let us know and we'll work out an alternate method of delivery. It's copiously illustrated (hence the hefty megabytage) and Snyder isn't the least bit shy with color commentary or opinions. You'll love it or hate it but you won't be bored even for a moment.

David Mckee's Stiffs & Georges - Silverton

Margaritaville wastes away

Casino commercial of the month