Rick,
That's why I started with: "this is how one of the casinos continues to lose business to the places in AC that actually have an idea on how to compete against the new competition. Trump Plaza and the AC Hilton are two of the worst performers in AC." Most of the other casinos seem to be getting it.
The new owners of TER are the former bondholders before the bankruptcy proceedings. From what I have read and heard, their intentions are to get as much money out of the new company and get out. Trump Plaza continues to bleed money and the Taj Mahal bounces back and forth. The properties are still $300 million in debt, even after selling off Trump Marina. They've put the Steel Pier up for sale at 2.5 million. I don't see this company surviving much longer.
That's why I started with: "this is how one of the casinos continues to lose business to the places in AC that actually have an idea on how to compete against the new competition. Trump Plaza and the AC Hilton are two of the worst performers in AC." Most of the other casinos seem to be getting it.
The new owners of TER are the former bondholders before the bankruptcy proceedings. From what I have read and heard, their intentions are to get as much money out of the new company and get out. Trump Plaza continues to bleed money and the Taj Mahal bounces back and forth. The properties are still $300 million in debt, even after selling off Trump Marina. They've put the Steel Pier up for sale at 2.5 million. I don't see this company surviving much longer.