So it was Trump Plaza, denials to the contrary, that issued last week’s inflammatory layoff notice to 1,434 workers. Trump Entertainment Resorts had posted a WARN Act notice, informing all workers at the Plaza that, as of May 10, they might lose their jobs … then tried to blame prospective owner Meruelo Group for the bulletin. Turns out there was a fair amount of “bull” in the document, all right: Trump meekly revoked the fatwa, leaving it for the New Jersey Department of Labor to explain the about-face. Several theories were floated, with “the sale may happen later than originally expected” having a particularly strong ring of plausibility. Trump employees aren’t the only ones feeling the willies: 1,729 Atlantic Club workers have also been WARN’d, in advance of the (very iffy, IMO) PokerStars purchase. At least staffers at that property, although much greater in number than at Trump Plaza, can take comfort in the fact that their casino is doing considerably better, while the Donald Trump-branded casino is locked in a death spiral. Meruelo better have some mighty good — and fast-acting — tricks up its sleeve.
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DM,
I’m sure you’ve seen thishttp://www.lasvegassun.com/news/2013/mar/14/wicked-whispers-racy-rumors-new-strip-hotel-buyer-/
Considering it comes from the crack business reporter Robin Leach, have you heard this? And if so, who are the players involved???
Considering that the size of the Genting deal ($350 million) was not particularly massive, it wouldn’t take much to top it. The asking price of The Rio alone far exceeds what Genting paid for Echelon. That said, I’m skeptical that a local nightclub operator could raise the scratch to purchase a Strip casino, let alone get Gaming Control Board approval to run it. Nightclubs have been a particular subject of NGCB ire in recent years and their revenue base is still small compared to that of a major casino.
As always – the ‘DONALD’, is never wrong. Just ask him.
I think it is Light Group taking Mandalay Bay. Their remodeling and rebranding TheHotel as a Delano gives it some heft, IMO. Also, I recall Light has been trying to get into hotel operations with MGM for the last three or four years. I think they were slated to operate the Harmon when it was finished. Heh.