{"id":33,"date":"2009-09-22T21:05:00","date_gmt":"2009-09-23T01:05:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/blogs\/dmckee\/index.cfm\/2009\/9\/22\/Atlantic-City-sucks-"},"modified":"2022-04-03T06:11:35","modified_gmt":"2022-04-03T14:11:35","slug":"atlantic-city-sucks","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/atlantic-city-sucks\/","title":{"rendered":"Atlantic City sucks …"},"content":{"rendered":"

… says the Motley Fool<\/em>, in essence<\/a>. Even Borgata<\/strong>, which posted a higher operating profit year\/year, is deemed merely to suck less than everybody else. I’m not sure I’m with the Fools on this one. For instance, shouldn’t Sands Bethlehem<\/strong> be doing better than fifth among Pennsylvania<\/strong> casinos, especially when you consider its proximity to New York City<\/strong>?<\/p>\n

Elsewhere on the Boardwalk, the UAW<\/strong> is fighting Trump Plaza<\/strong>, the Plaza is fighting the National Labor Relations Board<\/strong> and Trump dealers are fighting amongst themselves<\/a>. Since 32% of dealers initially voted against UAW representation, it should be a cinch to round up 30% to sign a decertification petition. Kudos to Trump Entertainment Resorts<\/strong> CEO Mark Juliano<\/strong> for going out of his way to soothe potential animosity between labor and management.<\/p>\n

MILF convention in A.C.<\/strong>: On Oct. 3, former Bunnies and other veterans of the short-lived Playboy Hotel & Casino<\/strong> will return to the shore to relive the good old days. A few might even wriggle into their old Bunny costumes<\/a>. Maybe a re-infusion of the Playboy<\/em> brand is what Atlantic City needs. It can only help. Are you listening, Carl Icahn<\/strong>? Revel<\/strong>? Pinnacle Entertainment<\/strong>? Anybody?<\/p>\n

Resort-style casinos come to Colorado<\/strong> and doesn’t Ameristar<\/strong>‘s new hotel look lovely<\/a>? Now, if only somebody would build a mid-market property like this on the Strip. Why must average Americans settle for older, second-tier properties if they’re to afford a Vegas vacation?<\/p>\n

Health care reform + Internet gambling?<\/strong> Is it just me or is Sen. Ron Wyden<\/strong> (D-OR) onto something here? This may be just the carrot to dangle in front of legislators who still balk at allowing Americans to wager on the Web.<\/p>\n

Creditors screwed again<\/strong>. How much is Greektown Casino<\/strong> worth? Is it the $725 million its creditors claim? Or the $540 million that Greektown asserts? Or maybe the lowball $485 million that lead bidder Tom Celani<\/strong> is willing to pay? Greektown’s recent — and well-publicized — inroads into the market share of its Detroit<\/strong> rivals lend merit to the higher-end valuations. If the place was in the doghouse, I might sympathize with Celani (who’s likely to boot the very management team responsible for Greektown’s turnaround), but Fine Point Group<\/strong> has definitely enhanced a once-seedy casino’s value.<\/p>\n

It’s official<\/strong>. VIP-player commissions in Macao<\/strong> will be capped<\/a>. Since the war over junketeer commissions was threatening to make Macao a negative-revenue proposition, the new ceiling will greatly improve cash flow for Macanese operators. Middle-of-the-pack Galaxy Entertainment<\/strong> is expected to benefit the most (+27% EBITDA), followed at some distance by Stanley Ho<\/strong> (16%), with Las Vegas Sands<\/strong> and MGM Mirage<\/strong> bringing up the rear. Although the elderly Ho may be on his deathbed, he’s lived long enough to broker peace in a potentially destructive situation where the only sure winners were the sought-after junket operators.<\/p>\n","protected":false},"excerpt":{"rendered":"

… says the Motley Fool, in essence. Even Borgata, which posted a higher operating profit year\/year, is deemed merely to suck less than everybody else. I’m not sure I’m with the Fools on this one. For instance, shouldn’t Sands Bethlehem … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[40,23,82,27,44,42,36,37,62,11,30,25,12,61,20,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/33"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=33"}],"version-history":[{"count":5,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/33\/revisions"}],"predecessor-version":[{"id":30973,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/33\/revisions\/30973"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=33"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=33"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=33"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}