Atlantic City Seeks New Image: Las Vegas's [Archive] - Page 2

American Gaming Guru

October 1st, 2007, 12:31 PM

Check out the last line. Gotta love The Donald!

Trump Casinos: the Art of the Comeback?

Sunday, September 30, 2007
By WAYNE PARRY, Associated Press Writer

ATLANTIC CITY, N.J. —
For months, a tusk on one of the elephants outside the Trump Taj Mahal Casino Resort was missing, probably snapped off by a vandal.

It was one small repair on a long list of things Trump Entertainment Resorts Inc. had to do to spruce up its three casinos in the battle against a growing list of better-financed, newer, flashier casinos changing the face of Atlantic City.
Now the tusk is glued back on _ a symbol that the company realizes that the small things are just as important as the big ones when it comes to succeeding in the new Atlantic City.
"You have a lot of competition to Atlantic City now, which it's never had before," said company chairman Donald Trump. "Now it's really a question of marketing and running (the Trump casinos) beautifully."
The company faces stiff headwinds _ more than $1.5 billion in debt, better-financed competitors with a big head start on offering the kind of Las Vegas-style resort appeal that Atlantic City has only recently embraced, and at least two deep-pocketed companies who will open new casinos within four years.
It sought buyers for the Taj Mahal, Trump Plaza Hotel and Casino, and Trump Marina Hotel Casino. A proposed deal came close but fell through in July.
Donald Trump said there are still several potential buyers, either for the company as a whole or for a piecemeal sale. But he refuses to identify them or characterize how serious the talks have become.
In the meantime, the company is focused on turning around its bottom line.
"Our turnaround strategy has always been to identify our better customers and market to them," said Mark Juliano, a 30-year veteran casino executive who once ran Caesars Palace in Las Vegas and who took over as Trump's chief executive this summer. "It's to try to get the company away from depending on the day-trip gambler as opposed to someone who wants to come for a two- or three-day entertainment experience."
To do that, Trump needs more hotel rooms to put them in. The company is building a second tower at the Taj Mahal for $255 million that should be open in the third quarter of 2008. The 786 rooms it includes will give Trump 3,670 rooms _ about the same as a new casino planned here by Revel Entertainment Group LLC.
The new rooms at the Taj are a major part of the company's strategy to whittle away the $1.5 billion in debt that has limited its options in the past and scared off some potential buyers. The debt remains despite a 2005 bankruptcy reorganization.
Virtually every room in all three casinos has been renovated in recent years, and new restaurants opened at the Taj and Marina. A makeover stripped much of the garishness from the Taj, including its infamous purple carpet, which Juliano promised the state Casino Control Commission "has been banished forever."
Brian Fennell of Lumberton, N.J., stayed at the Taj recently for a trade show, and liked what he saw.
"The decor is fresh," he said. "It looks new and up-to-date. I had a great time."
The company scrapped players-club cards it had issued for each individual casino in favor of the TrumpONE card, which lets gamblers accrue and redeem perks at any of the casinos, even as it cuts back on those for less profitable gamblers. And it hopes to reduce expenses by $19 million this year.
So, will it all work?
Trump Marina and Trump Plaza regularly rank at or near the bottom of Atlantic City's 11 casinos in terms of monthly revenue. And last month, Trump Entertainment reported that its second-quarter loss widened as gambling revenue fell, partly due to increased regional competition.
But the Taj remains around the top third of Atlantic City casinos in monthly revenue and the casino commission recently granted a new five-year operating licenses for the three Trump casinos despite expressing deep skepticism over the company's rosy financial predictions.
Some analysts say that with land and construction prices pushing the cost of new Atlantic City casinos to the $2 billion range, it might be cheaper to buy an existing one rather than build from scratch. Under such a scenario, the Trump properties might look more attractive.
Earlier this month, KeyBanc Capital Markets cited "excellent" progress on reducing promotional expenses such as freebies for gamblers. And Goldman Sachs wrote in an August report that out-of-state competition is hurting the Trump casinos, but noted that the TrumpONE card program and the Taj expansion should increase revenues.
"We ultimately believe our long-term turnaround thesis is in place," they wrote.
Will new carpeting, wall treatments, and a fixed elephant tusk help the Taj fall more in line with its upscale competitors?
Donald Trump thinks so. He also misses the purple carpet.
"Some people thought that other (look) was outdated," he said. "I thought it was nice."

American Gaming Guru

October 4th, 2007, 09:55 AM

MGM has undoubtedly teased AC before. I remain cautious but never the less excited for the latest news leak:

MGM Mirage plans multibillion-dollar casino resort for Atlantic City

By DONALD WITTKOWSKI Staff Writer, (609) 272-7258
Published: Thursday, October 4, 2007
See map of project (http://www.pressofatlanticcity.com/static/mgmcasino.jpg)
ATLANTIC CITY - No longer content with building a mere casino, gaming giant MGM Mirage Inc. plans to develop a mini-city of gambling, hotel towers and luxury condominiums that would dramatically redefine the Atlantic City skyline.
The estimated $4.5 billion to $5.5 billion project would mimic the company's huge $7.4 billion CityCenter project under construction on the Las Vegas Strip, although on a smaller scale, according to people familiar with the plans.
MGM envisions a casino complex featuring three hotel towers of 1,000 rooms each and high-end retail on par with the acclaimed Forum Shops at Caesars Palace in Las Vegas. In addition to its mammoth size, what would distinguish the MGM project from other Atlantic City casinos are plans for posh condos that would start at $1 million and top out between $5 million and $6 million, officials said.
MGM's board of directors may give the development the green light when it holds its next meeting, reportedly Tuesday. In February, the board approved $20 million to design a project that would rise on 70 acres next to Borgata Hotel Casino & Spa in the Marina District.
MGM is a 50-50 owner of Borgata with Boyd Gaming Corp., but the company has been tantalizing Atlantic City for the past decade with plans for a separate megacasino that would rival anything on its home turf of Las Vegas.
Ritzy Las Vegas casinos owned by MGM include Bellagio, The Mirage, MGM Grand and Mandalay Bay. While those casinos are stunning in their own right, MGM's masterpiece is the CityCenter project - billed as a gambling megalopolis or "a city within a city." It will include a casino hotel of 4,000 rooms, two nongaming boutique hotels, 470,000 square feet of retail and entertainment space and nearly 2,700 upscale condo units. Completion is targeted for late 2009.
MGM would like to use the Las Vegas development as a model for a "CityCenter East" project in Atlantic City. Construction is tentatively scheduled to begin in fall 2008 and take about three and a half years to complete, according to people briefed on the plans.
CityCenter East
The three proposed hotel towers would each serve a distinct market, from mid-tier customers all the way up to the creme de la creme of high rollers. The condos have been discussed as a possible second phase. A 20,000-seat entertainment arena also was considered but has since been struck from the development.
Gordon M. Absher, MGM Mirage vice president of public affairs, declined to discuss details of the project or even confirm that the board of directors would be meeting next week.
"We're very excited about the possibilities in Atlantic City and to continue along the vein of what Borgata has started and proved to be successful in that market," Absher said.
Dennis M. Farrell Jr., a gaming analyst for Wachovia Capital Markets, believes MGM's project would continue Atlantic City's evolution from a modest gambling haven to a more upscale tourist destination offering an array of casino and nongaming attractions.
"It's a transforming event for the marketplace," he said. "It will grab another segment of clientele that the market has been lacking for some time - the high-end residential customer. You'll probably get more VIP gaming in there, as well. It will help Atlantic City become the destination marketplace that it is striving for."
Farrell said the existing casinos should not fear such a formidable new rival because MGM's development will have broad-ranging benefits to expand the entire market, including the possibility of more airport service.
"Nongaming businesses will benefit from that type of facility as well," Farrell said of casino vendors and suppliers. "It's going to be a big boost for the local economy."
If built, the MGM project would roughly coincide with the arrival of two other proposed casinos. Revel Entertainment Group has started preliminary construction on an estimated $2 billion gaming resort scheduled to open in 2011 next to Showboat Casino Hotel. Pinnacle Entertainment Inc. is redeveloping the site of the old Sands Casino Hotel for a $1.5 billion to $2 billion casino that may open in 2011 or 2012.
"I think it's very exciting," New Jersey Casino Control Commission Chair Linda M. Kassekert said of MGM's plans. "As we have discussed, Atlantic City is really ready to take the next step in becoming a destination, and this is taking us in the right direction."
Unfulfilled promises
Despite growing optimism over MGM's project, the company's track record in Atlantic City includes unfulfilled promises for two other casinos within the past decade. It once planned to build a lavish gaming resort on barren land in the South Inlet, only to kill that project to focus on the Marina District. Plans for the Marina then failed. Now MGM is resurrecting the Marina District site for its latest development.
MGM is flush with cash for new projects, thanks in part to a $2.7 billion investment in the CityCenter project by financing partner Dubai World, an entity of the United Arab Emirates government. Dubai World also has agreed to buy as much as $2.4 billion of MGM's common stock.

However, MGM's plans for Atlantic City could be affected by uncertainty over the Casino Control Commission's pending vote on the company's partnership for a new casino in the Chinese gambling enclave of Macau. Critics claim the partnership with Pansy Ho, the eldest daughter of Macau casino mogul Stanley Ho, should be denied because of Stanley Ho's reputed ties to Asian organized crime.
Kassekert's agency must vote on the Pansy Ho-MGM venture because MGM Mirage holds a New Jersey gaming license. The New Jersey Division of Gaming Enforcement is investigating the partnership and will make recommendations to the commission on whether the deal should be approved.
Although the commission's denial of the partnership is not expected, should that remote possibility occur, MGM theoretically could surrender its New Jersey gaming license and walk away from Atlantic City in order to concentrate on Macau.
Gaming regulators in Mississippi and Nevada have already given their approval for the Macau partnership. Pansy Ho has repeatedly denied that her father would be involved in her project with MGM.

To e-mail Donald Wittkowski at The Press: DWittkowski@pressofac.com (DWittkowski@pressofac.com)

BrooklynRider

October 4th, 2007, 08:21 PM

Oct 4, 2007 12:33 pm US/Eastern

A.C. Mayor Goes AWOL; Mystery Man Appoints Self

(CBS 3) ATLANTIC CITY Frustrated and confused Atlantic City residents have lately been asking “Where is the Mayor?”

Bob Levy, the Mayor of the New Jersey gambling mecca, went missing last week without notice, leaving a power vacuum in his absence.

A local business administrator, Domenic Cappella, recently proclaimed he was personally appointed acting Mayor by Levy himself before his strange disappearance, but has no proof of any agreement.

Residents demanded answers to the Mayoral mystery during a city council meeting Wednesday night.

Unfortunately, City Council members could shed little light on Levy’s whereabouts.

“I would say AWOL, absolutely without leave. We don’t have an official word that has been delivered to city council on where the mayor is,” a city councilman said.

Levy’s disappearance could not come at a worse time, as rumors of upcoming arrests and resignations are flying during an FBI investigation into the city’s government.

Levy's attorney said his client is on extended medical leave, but would not give any further details.

"If you are sick, if you are in the hospital, let the public know, let the council know," City Councilman Tim Mancuso said.

Business Administrator Domenic Cappella said on September 26, Levy personally appointed him acting mayor, but could provide no concrete proof or explanation of their discussion.

“Before he was hospitalized, he made it known that I should be carrying on day to day business,” Cappella said.

But City Council members disagree, saying the only proof of Cappella’s alleged appointment is a memo written by Cappella designating himself.

“So for him to designate himself as the acting mayor is no different than if I were to designate myself as the acting mayor,” said attorney James Leonard Jr. “It’s completely without merit. It’s completely fraudulent and it’s not going to stand.”

Regardless of City Council’s opposition, Cappella said that he will not step down as he has a record of leadership.

“Ten years experience as an administrator, I run a $193 million budget, 1,500 employees, dealing with seven unions, saved the city tons of money,” Cappella said. “Let's put our differences to the side, let's move the city forward.”

After the tense and argumentative meeting Wednesday evening, the issue of who is in charge remains unsolved.

The City Council president did say he would take over the mayor's duties if the state were to say that it is legal.

Mayor Levy’s whereabouts are still unknown.

http://cbs3.com/local/local_story_276225636.html

American Gaming Guru

October 5th, 2007, 04:31 PM

I don’t think anyone is going to pay the price Trump wants, but never the less; he does own some of the best real estate in AC! Cordish would make a great suitor. They developed the Hard Rock hotel/casinos in Hollywood and Florida and are big on redevelopment projects. They also developed the very successful "The Walk" outlets, which they are planning on expanding even further. They seem to believe big in AC.

Trump Resorts may have new suitor

Sources: Preliminary talks are with Baltimore firm

Friday, October 05, 2007 BY JUDY DeHAVEN AND JOE DONOHUE

Star-Ledger Staff
Trump's casino company is still for sale.
The Cordish Co., a Baltimore-based developer that touts itself as a multi-billion dollar conglomerate of real estate and entertainment businesses, is eyeing Trump Entertainment Resorts, three people familiar with the talks said.

The Cordish has been looking to get into the casino business and recently put in a bid to build a $600 million casino in Kansas. But industry observers said Atlantic City -- and Trump Resorts in particular -- is attractive because Cordish owns "The Walk," a $110 million outlet shopping district at the foot of the A.C. Expressway just in front of Trump Plaza.
Trump Resorts, which has struggled against competition from Pennsylvania slot parlors, has been looking for a buyer ever since it turned down an offer from a group led by former casino executive Dennis Gomes in July, causing shares of the company to plummet.
Donald Trump, the chairman and largest shareholder in the company that bears his name, and Mark Juliano, Trump Resorts chief executive, declined comment. David Cordish, president and chairman of the Cordish, did not return a call or e-mail request for comment.
Despite the shaky state of the credit markets, people familiar with the talks said suitors have continued to show some interest in Trump Resorts, although no offers have been made. The sources asked not to be identified because the talks between Trump and Cordish are in preliminary stages.
A sale of Trump Resorts would not necessarily spell the end of the Trump era in Atlantic City. Trump has said in the past he could decide to remain with the new company after any sale.
But analysts have long said finding a buyer for Trump Resorts is a long shot. The company carries a heavy debt load -- $1.25 billion plus a $500 million line of credit -- and would be an expensive proposition. A buyer also would have to pay a premium on the price of the company's bonds. And Trump has veto power over the sale of any of the casinos. If he waives that right, the company would have to pay up to $100 million to cover taxes he would owe in a sale.
Although investors have been hoping for a sale, they have grown increasingly skeptical. After Trump Resorts announced in March it had hired Merrill Lynch to help it evaluate strategic options -- including selling the company -- shares fell more than 30 percent. Trump Resorts' 52-week high of $23.80 was hit nearly a year ago.
Trump Resorts has struggled ever since it emerged from Chapter 11 bankruptcy protection more than two years ago. A quick turnaround under former CEO Jim Perry never materialized, and he was ousted in June at a critical point during negotiations to sell the company to Gomes and his partner.
Trump appointed Juliano, the company's former chief operating officer, to replace Perry, and he stepped in as the Atlantic City casino market faced its biggest threat -- competition from neighboring states. For the first eight months of the year, revenue at all 11 casinos is down 4 percent; at the three Trump casinos, it has fallen 4.3 percent.
The Cordish is a privately held, third-generation business that was started in 1932. It is best known for urban revitalization projects, most notably the redevelopment of Baltimore's Inner Harbor.
But Cordish also has some experience in the gambling business. The company was involved in developing the Seminole Hard Rock Hotel & Casinos in Hollywood and Tampa, Fla.

66nexus

October 5th, 2007, 10:49 PM

Fabrizio

October 6th, 2007, 06:03 AM

There is also an article in todays Times... this is SO New Jersey:

"The mystery and the gathering scandal over Levy's military record have worried civic leaders in this seaside casino resort, which has a long history of corruption, with four of the last eight mayors busted on graft charges and one-third of last year's nine-member City Council in prison or under house arrest."

giselehaslice

October 6th, 2007, 10:02 AM

^Mayor problems really dont have anything to do with this thread.

The CityCenter news is great..looking foward to seeing it get built. I just hope that they expand their plans to include somewhere near 6,000 rooms, not 3,000. I strongly beleive that they will increase the size and scope of this project, especially since they will open this new resort around the same time that at least 2 other resorts will be opening in town..Anyway, its really good news! :)

Fabrizio

October 6th, 2007, 10:21 AM

Why does it have nothing to do with this thread?

If "Atlantic City Seeks New Image..." as the thread title says, such a circus at City Hall does not help the city's image:

From today's Inquirer:

"Officials have said they were concerned that Atlantic City's apparent lack of leadership and a possible scandal involving the top job does not play well on the national stage."

"I hear from people who are concerned about instability here," said Corzine. "It's important we provide stability, not only for the purpose of investment but for the citizens."

http://www.philly.com/inquirer/home_region/20071006_Missing_A_C__mayor_troubles_Corzine_He_sa id_the_state_is_weighing_legal_options_for_replaci ng_Bob_Levy__who_has_been_A_W_O_L_.html

lofter1

October 6th, 2007, 11:11 AM

And if gisele really does have lice then I don't see how that's helping AC's image one darned bit :cool:

giselehaslice

October 6th, 2007, 11:16 AM

lol

Fabrizio

October 6th, 2007, 11:33 AM

No, it's not helping AC's image at all.

She should have crabs.

giselehaslice

October 6th, 2007, 12:32 PM

okay. My username isnt meant to be serious. Its a joke, if you know what that means.

And also, I REALLY dont appreciate the personal attacks. I never personally attacked you. This thread isnt about "gisele having lice" becuase she doesnt, but it Is about Atlantic City and what is happening there currently.

thank you! :)

Fabrizio

October 6th, 2007, 12:43 PM

okay. My username isnt meant to be serious.
Its a joke, if you know what that means.

And in fact: we are joking.

And also, I REALLY dont appreciate the personal attacks.

Please show us where you were "personally attacked":

This thread isnt about "gisele having lice" becuase she doesnt

Whew... we're relieved to hear that.

This thread.... Is about Atlantic City and what is happening there currently.

"What is happening there currently"? If that is so, then why are you objecting about the posting of this big news story about the AWOL mayor and it's possible consiquences?

giselehaslice

October 7th, 2007, 12:25 PM

okay, your right. I'm Sorry. :)

American Gaming Guru

October 8th, 2007, 09:33 PM

What a mess. NJ politics are a national nightmare.

BrooklynRider

October 9th, 2007, 07:53 AM

The Mayor's lawyer knows where he is, but won't say. What the hell is THAT about? Seems like the guy has abdicated. Time to get a replacement in there.

investordude

October 10th, 2007, 10:50 AM

http://biz.yahoo.com/ap/071010/mgm_mirage_resort.html

Looks to me like this could be big for Atlantic City.

66nexus

October 10th, 2007, 12:41 PM

http://biz.yahoo.com/ap/071010/mgm_mirage_resort.html

Looks to me like this could be big for Atlantic City.

That rendering on an updated article in your link is HOT. The Boardwalk zone had better get it together because the Marina district is strengthening its stance.

STT757

October 10th, 2007, 02:11 PM

I have huge hopes for what MGM, Pinnacle entrance and Borgata, Tropicana and Harrahs expansions and renovations will do for Atlantic City. I have high hopes that these developments will spur investors to existing properties, especially along the boardwalk.

The Cordish Co's interest in the Trump properties is another hopeful sign, I've been to the Hard Rock Hotel and Casino in Tampa that Cordish built. It was a great property, I think Trump Marina is perfect for a Hard Rock Hotel and Casino.

As for the other properties, I'm not sure of the status of Steve Wynns interest in Atlantic City but he was rumored to be interested in Trump Plaza and the Convention Center. Trump Plaza's central location on the board would translate well for the boardwalk should Wynn make that property his flagship Eastcoast property, it would have an effect on the rest of the boardwalk.

The State of New Jersey needs to step up to the plate to make the neccessary infastructure investments to support the growth, especially with regards to building an Atlantic City Light Rail similar to the Hudson Bergen Light Rail. It has to be done like the HBLRT, I've been to Las Vegas and their Monorail is the biggest waste of money and the most worthless public transit system I've ever seen.

Besides the Light Rail Atlantic City International Airport needs investment and incentives to lure more carriers. Right now ACY has Delta to Atlanta and Spirit to Las Vegas, San Juan, Detroit, Myrtle Beach, Fort Myers, Fort Lauderdale, West Palm Beach, Orlando.

The State of New Jersey should possible get the Port Authority involved with running ACY, it was hinted at when New Jersey agreed to let the Port Authority take over Stewart airport.

ACY needs to bring in more carriers and Destinations.

Jetblue, American, Continental, United, US Airways, NWA, Airtran etc..

giselehaslice

October 10th, 2007, 03:42 PM

http://www.nytimes.com/2007/10/10/business/10cnd-casino.html?ref=business

^ A bigger rendering of what the MGM Grand Atlantic City will look like.. Let me say its just AMAZING!

66nexus

October 10th, 2007, 04:06 PM

http://www.nytimes.com/2007/10/10/business/10cnd-casino.html?ref=business

^ A bigger rendering of what the MGM Grand Atlantic City will look like.. Let me say its just AMAZING!

Now that's impressive. I saw that rendering before but it was very blurry and I couldn't tell what was going on. ^That one's impressive to say the least.

Fabrizio

October 10th, 2007, 04:13 PM

I'm sure these casinos out in the marina would never be for it, but there should be light rail taking people into the city. These complexes are great but visitors will just pass AC by.

The plus here is that the look is really first-class. Swoopy and modern.... it will raise the bar for things to come. the others will have to top this.

66nexus

October 10th, 2007, 04:22 PM

Fabrizio

October 10th, 2007, 04:30 PM

With AC it's even worse than the Vegas downtown vs. Vegas Strip phenomenon : in AC, it's barricaded casinos VS a slum. Get in light rail... spread the weath around... get the city part on it's feet and looking fabulous.

investordude

October 10th, 2007, 09:01 PM

Let's face it - for Atlantic City to truly compete with Vegas, they are going to need to find a way to improve the sex entertainment options. When people have a multibillion dollar "what happens here, stays here" ad, they're talking about strip clubs or perhaps even more legally suspect exotic entertainment.

My proposal for Atlantic City to compete would be a steep tax on exotic entertainment, but permit it. Like, $20 admission tax + $10 per dance tax. And some sort of legalized escort arrangment with the casinos that protects women might also make sense if it would fly.

Then, you could use that tax money to improve other services in Atlantic City like schools, police, and other deficient problems.

We'll never really compete with Vegas if we just compete on gambling.

Still, there's no doubt these casinos help Atlantic City even though my libertarian schemes will probably never happen in Jersey.

unknown memory

October 11th, 2007, 02:14 AM

As much as that huge rendering looks very impressive, I'm still not surprised. I mean, what's in for us, non-gambling visitors? When we don't want to go shopping, go to the shore, or play the mini-golf since that's it. Steel Pier will probably be going soon too.

I just wish some random developer would come in and build something that'll make the non-gambling people stay longer. Something that is also family orienated because that's what helps Las Vegas stay alive on the non-gambling aspect. *sighs*

66nexus

October 11th, 2007, 03:00 AM

I just wish some random developer would come in and build something that'll make the non-gambling people stay longer. Something that is also family orienated because that's what helps Las Vegas stay alive on the non-gambling aspect. *sighs*

What do you have in mind?
Perhaps go-karting

AC already has the shore which Vegas doesn't have (AC doesn't emphasize the beach enough though)

Fabrizio

October 11th, 2007, 06:06 AM

STT757

October 11th, 2007, 09:26 AM

I'm sure these casinos out in the marina would never be for it, but there should be light rail taking people into the city. These complexes are great but visitors will just pass AC by.

Absolutely, Light Rail (Ala Hudson Bergen) connecting the Marina District, Convention Center/NJ Transit Rail Station, Boardwalk, Atlantic City International Airport.

Let's face it - for Atlantic City to truly compete with Vegas, they are going to need to find a way to improve the sex entertainment options. When people have a multibillion dollar "what happens here, stays here" ad, they're talking about strip clubs or perhaps even more legally suspect exotic entertainment.

I disagree, wont happen. If they want to give Atlantic City some edge legalize Sports betting, that would be a huge boon to the City. The Super Bowl parties at the Casinos there would be SRO.

American Gaming Guru

October 11th, 2007, 02:25 PM

I love the MGM rendering. It is gutzy and glamorous. Cheers to them. AC is on fire (no pun intended to The Water Club) again!!!

66nexus

October 11th, 2007, 03:11 PM

"What do you have in mind?
Perhaps go-karting"

Well, for starters, real cities usually have nice public parks, busy city streets with a mix of retail, restaurants, coffeshops, movie theatres, book shops, antique stores, legit theaters for plays and musicals. How about a concert hall? Art galleries... an arts scene? A couple of museums?

Well AC already has the niche for plays, musicals, with concert halls but that place needs to start with the basics...like a supermarket. AC may be small, but even the smallest cities at least have one supermarket.

Movie theaters is a must. Museums also (Ripley's Believe it or Not just doesn't quite cut it IMO)

AC still has a bit of land that just looks like huge dirt lots. These can and should be turned into public parks.

American Gaming Guru

October 11th, 2007, 03:18 PM

PINKY'S CORNER
http://www.acweekly.com/images/issues/2007-10-11/large/img_7467_pinky.jpg

Pinnacle Has Big Plans http://www.acweekly.com/images/shim.gif by Pinky Kravitz (pinkyscrnr@aol.com)

http://www.acweekly.com/images/shim.gif

An interesting interview with Kim Townsend, the CEO of Pinnacle Entertainment Atlantic City, on the Pinky’s Corner radio show recently, revealed some heretofore unknown information. First, Townsend said that Pinnacle Entertainment, which had previously told George Siganos that he would have to vacate the Boardwalk stores he renovated and has been operating between Indiana Avenue and a couple of shops shy of Dr. Martin Luther King Boulevard by Dec. 31, informed Siganos that his lease will be extended for one more year. Needless to say George and those who rent his shops on this Boardwalk block are delighted with the opportunity of having another year at this site. This means that Siganos’s outstanding Opa restaurant will be able to continue serving their excellent Greek and American cuisine. Townsend explained that the construction Pinnacle will begin in 2008 will eventually work its was up to their Boardwalk property.
Townsend also said that Pinnacle will soon set a deadline for acquisitions of new properties to develop. This will let the architects know the exact footprint that will be available for Pinnacle’s new project. By the way, Pinnacle recently purchased the Studio Six property, located just off Atlantic Avenue between Dr. Martin Luther King Boulevard and Mt. Vernon Avenue. They have also acquired (or are in midst of acquiring) some additional sites in the 1600 block and any other sites they can wrap up between Indiana and Dr. Martin Luther King Boulevard between Atlantic and Pacific avenues, with some portions of their interest extending to Kentucky Avenue. It is anticipated that the final Pinnacle project site will occupy over 18 acres. Townsend noted that the new facility will have a full retail mall and that they will completely revamp the landscape of Brighton Park to enhance the view and beauty of the Fountain of Light.
On the radio show, a caller asked about the number of employees Pinnacle would be hiring. To date, the most hired by a casino was 6,000 employees. Townsend said that Pinnacle expects to hire between 8,000 to 10,000 employees. She also noted that they would create a parking garage just for their employees.
Pinnacle has set a gala extravaganza for the implosion of the remaining portion of the Sands Casino Hotel, its garage and the Jefferson Hotel. (See cover story on p. 54 for more details). There are still some in the gaming industry who say Pinnacle will never develop their project. Those who listened to Townsend on the radio show, however, have no doubt that there will be a magnificent new Pinnacle Casino Resort constructed on and around the site of the former Sands.

One Boardwalk Committee A meeting with Atlantic City Regional Chamber of Commerce president Joe Kelly brought about an agreement that there will be only one Atlantic City Boardwalk Committee. There will be a melding of the Chamber and the Boardwalk Merchant’s Committee with the original Atlantic City Boardwalk Committee.
It was acknowledged by all involved that it was in the best interest of the Atlantic City Boardwalk for a unified approach to restore the glamour, excitement and safety of the famed wooden way. According to the agreement, this columnist will be the chairman and Julie Bader will be the co-chair. A steering committee will be named consisting of representatives of the three entities; individual committees will be named with the same proviso. The areas to be covered by the committees are safety, cleanliness, events/entertainment and advocacy. Meetings will be held the second Tuesday of each month.
At this month’s meeting of the Atlantic City Boardwalk Committee, Tom Meehan, of the Casino Reinvestment Development Authority, reported that a contract has been signed for the design of the street ends at New York and Texas avenues. If you have seen the street end at California Avenue you are aware of how attractive it is. As funds become available, other streets will be done.
Meehan also noted that a request for proposals has gone out for the Fresh Food Market that will be constructed at North Carolina and Arctic avenues. The CRDA is working together with the Rutgers Extension Program to set up the market, which will carry Jersey Fresh produce, baked goods and meat products. It is anticipated that it will be open for business within a year and a half.
Information related to the 1,400-space parking garage that is to be built from Missouri to Mississippi avenues (Winchester Avenue to the back of the shops on Arctic avenue) will be presented at this month’s Board of Directors meeting for construction approval.
Also at the meeting, concern was raised about the dilapidated condition of the Boardwalk from Caspian to New Jersey avenues. It was acknowledged that Revel Entertainment’s new project will rebuild the Boardwalk from New Jersey to Metropolitan avenues. It is also understood that the Atlantic City budget has in its capital improvement budget the funds to re-deck the remaining portion of the Boardwalk from Metropolitan to Caspian avenues. All that is necessary is to get City Council’s approval to get this project underway in time for the Summer 2008.
With the imminent development of Revel’s casino hotel complex, members of the Boardwalk Committee expressed their concern about the future of the Atlantic City Art Center and the Historical Museum (both on Garden Pier). It is known that there is an agreement for Atlantic City to sell the pier to Revel. It is not known what the future of these two entities will be. This columnist would like to see them included in whatever Revel will develop on Garden Pier. We will not have to wait much longer to see Revel’s plans for its new facility.

Pinky’s Corner airs Monday through Friday from 4 to 6pm on News Talk WOND-AM 1400. His TV show, WMGM Presents Pinky, airs Saturday at 7:30pm on TV40. Pinky’s e-mail address is: pinky@acweekly.com (pinky@acweekly.com).

d.josh6

October 12th, 2007, 03:41 PM

Yes, I also beleive that the Boardwalk will again become the main destination. I just think that they should get some type of monrail system in order to disperse the crowds between the oceanfront and the marina district.

Also, while browsing Skyscraperpage.com on Atlantic City's development page, there was a post about some new developer and thier "TOP SECRET" atlantic City Project. Does anyone know about this?

http://www.digeorgeatlantic.com/

I’m a senior at UPENN in the Wharton school and had a Wharton buddy who interned with DiGeorge Atlantic Properties this summer. I am in the middle of job recruiting right now, so I searched the company and came across this thread. From what my friend has told me the company is pretty low key but involved in some huge deals and is currently focused on the projected growth of Atlantic City. They have spent a lot of time developing I think they are about to publicize it. I think he is considering working for these guys full-time after graduation…

giselehaslice

October 12th, 2007, 05:37 PM

^thats cool. Now we know that it is actually a real company.

Do you know what they are interested in developing? Please tell. :)

STT757

October 13th, 2007, 10:43 AM

My Wife and I stayed at the Venetian in Las Vegas in July, right next door was the Wynn. The Venetian was great, the Wynn was ultra luxiourious. Hopefully MGM's project in Atlantic City will bring the high end market in Atlantic City (first realized by the Borgata) to the next level.

Also across the Street in Las Vegas from the Venetian was a really nice mall, it had two Macy's, Nordstrum, Maggianos etc.. I think a mall with anchor department stores would do great in Atlantic City, there's already the Pier with it's more boutique type shopping and then there's the outlets by the Convention Center. A mall with a Macy's, Movie thearter would add more non gaming activities to Atlantic City.

giselehaslice

October 13th, 2007, 12:17 PM

I was is in Vegas in July too (OMG it was like 130 degrees for 4 days in a row), and stayed at THEhotel at Mandalay Bay. Yeah, the Wynn is spectacular, I just loved it and spent alot of my time there just becuase it was so nice.

I really do hope that Wynn decides to build a Wynn AC because personally I would probably want to buy one of the hotel rooms to live in just becuase of how nice it was. LOL:D

Anyway, the newest news on MGM Grand and MGM Mirage's operations in Atlantic City is that the Casino Contorol Comission and other NJ casino enforcement departments are wrapping up a long investigation on Pansy Ho, the brainchild behind MGM Mirage and Pansy Ho's joint venture in Macau, MGM Grand Macau. There is speculation that her father, Stanley Ho, who had a monopoly on casinos in the Portuguese exclave was tied to organized crime. The NJ casino control comission and gaming enforcement department's investigation was if Pansy Ho was to be influenced by her 85 year old father. Pansy claims that she is a seperate entity from her father and is not influenced by him. If NJ doesnt approve the Macau licence with Pansy Ho, MGM will have to decide whether to ditch their Macau plans, or ditch their Atlantic City plans. The report should be relased within a month, to a month and a half.

Although this news is sort of troublesome to me because I would absolutely love to see this resort get built, most people and most experts beleive that NJ will pass the Casino Licence. If they didnt, Atlantic City would lose the 5 BILLION dollar investment, they would loose the thousands of jobs, and they wouldnt make any money off the resort when it comes to taxes. Also, MGM already has a presence in Atlantic City with a 50% ownership of the Borgata.This would make it difficult to evict a company out of the state who single handedly started the Renaissance of Atlantic City by rasing the bar of East Coast Casino/Resorts with the Borgata.

Just wanted to report the latest and also add comfort becuase the liklelyhood that the NJ Casino Control Comssion will deny MGM Mirage is very low.

AC IS ON FIRE! :)

investordude

October 13th, 2007, 02:59 PM

Given the mayor disappeared mysteriously and then resigned, I think one can probably safely speculate organized crime has a big impact running Atlantic City.

giselehaslice

October 13th, 2007, 03:20 PM

^yeah, it could be.

The main thing is that fingers crossed- like i said before- it shouldnt be a problem for MGM Mirage to get their new casino licence, and they will start building MGM Grand Atlantic City.

unknown memory

October 14th, 2007, 07:55 PM

What do you have in mind?
Perhaps go-karting

AC already has the shore which Vegas doesn't have (AC doesn't emphasize the beach enough though)
For me, it would probably be some kind of aquarium or an interactive place. I mean, something that would really make the non-gambling people stay there. Las Vegas already has a water park, a dolphin area, Coca-cola, M&M's, stratosphere, roller coaster (Ny, Ny), Treasure Island show, Mirage volcano show, Luxor use to have a boat ride, Ceaser's statue show, Cirque Du Soleil, Circus Circus's own circus, MGM's small theme park (which wasn't impressive at all), Venetian's gondola, and if I missed anything else, blah.... Vegas keeps adding stuff anyways.

Yeah, I guess a park would be nice for the locals in AC. AC definetly needs some green. For the tourists though, who goes to a park for a vacation? We have parks everywhere else. ^__^;

Dynamicdezzy

October 14th, 2007, 09:28 PM

http://www.wirednewyork.com/forum/showthread.php?t=15503

STT757

October 15th, 2007, 09:13 AM

A casino in Queens has no chance, Woody Johnson had tons of connections and he could not get the West Side Stadium built.

American Gaming Guru

October 15th, 2007, 02:03 PM

There will be slots at Aqueduct (MGM was originally awarded the concession but after forfeiting it, Gov. Spitzer has called on a new round of bidding), but as far as a full-blown casino/resort, I would not bet on it. At least not for the foreseeable future.

American Gaming Guru

October 15th, 2007, 02:04 PM

I am attending the Sands Implosion this Thursday. I will try and take some pics of it and some of the other developments in town to post:

Sands implosion ensures Atlantic City spectators will have a blast

By DONALD WITTKOWSKI
Published: Sunday, October 14, 2007
http://pressofatlanticcity-proxy.nandomedia.com/ips_rich_content/608-sands.jpg
The shell of the Sands building stands ready for implosion Tuesday in Atlantic City. It will take just seconds, but the casino's spectacular demise in a highly choreographed implosion is the latest must-see event in a tourist town that has always been concocting must-see events to draw visitors.
Staff photo by Ben Fogletto

Click to see how the Sands will fall (http://epaper.pressofac.com/demo/page1.htm)
View slideshow of past implosions (http://www.pressofatlanticcity.com/static/soundslides/demolitions/index.html)
ATLANTIC CITY (http://www.inform.com/Atlantic+City) - Andrea Edmonds (http://www.inform.com/Andrea+Edmonds) had been keeping her suitcase packed and her husband on alert, telling him that he had better be ready to make a trip as soon as she received word.
For weeks, she wrote to newspapers, television stations and others hoping to find out the date of a once-in-a-lifetime event that would set her plans in motion.
Then it came: Oct. 18.
"The next thing I did was to call up the hotels," Edmonds said. "I decided to book a room at Caesars because it's so close to the Sands."
So Edmonds and her husband, Mike, will be making a six-hour drive this week from their central Massachusetts (http://www.inform.com/Massachusetts) town of Northborough to watch the old Sands Casino Hotel (http://www.inform.com/Sands+Atlantic+City) be blown to smithereens at 9:30 p.m. Thursday.
Although it will take just seconds to complete, the Sands' spectacular demise in a highly choreographed implosion is the latest must-see event in a tourist town that has always been concocting must-see events to draw visitors - visitors such as Andrea and Mike Edmonds (http://www.inform.com/Mike+Edmonds).
"I am 62 years old and wish to see an implosion before I die. My husband, on the other hand, wishes to see olives pitted and stuffed," Edmonds cracked.
Tourists, high rollers and local folks will pack the Boardwalk, the casinos, the bars and even crowd onto boats moored just offshore to witness the Sands come down in grand style like so many of its elderly cousins on the Las Vegas Strip (http://www.inform.com/Las+Vegas+Strip). Las Vegas (http://www.inform.com/Las+Vegas) has been perfecting the implosion hoopla for years, but this will be the first time Atlantic City demolishes an old casino this way.
"I think an implosion is something that certainly fascinates people. I think it's going to be a great event," said Jeffrey Vasser (http://www.inform.com/Jeffrey+Vasser), executive director of the Atlantic City Convention & Visitors Authority. "I think from an economic standpoint, having an influx of people midweek is going to be tremendous. We're certainly looking at it as another reminder to folks that Atlantic City is looking to reinvent itself."
Las Vegas gaming company Pinnacle Entertainment Inc. (http://www.inform.com/Pinnacle+Entertainment+Inc.) is redeveloping the Sands site for a $1.5 billion casino that will be among three new megaresorts expected to redefine the Atlantic City skyline dramatically within the next five years. Revel Entertainment Group (http://www.inform.com/Revel+Entertainment+Group) is building a $2 billion project next to Showboat Casino Hotel (http://www.inform.com/Showboat+Atlantic+City), while MGM Mirage (http://www.inform.com/MGM+Mirage+Inc.) is planning a mammoth $4.5 billion to $5 billion development in the Marina District adjacent to Borgata Hotel Casino & Spa.
The tiny Sands, dating to 1980, represented the early generation of gaming halls following the advent of casino gambling in 1978. While the implosion is sure to be greeted with wild cheers, some people have fond memories of the Sands and will be more reserved in their celebration.
"I liked the Sands. It was a nice little boutique casino. Small and very friendly," said Toni Bojarczuk (http://www.inform.com/Toni+Bojarczuk), of Poughkeepsie (http://www.inform.com/Poughkeepsie), N.Y. (http://www.inform.com/New+York) "It will be sad seeing one of the old casinos go, but I won't shed any tears."
The implosion will be a family outing for Bojarczuk and her husband, Nestor, and two other couples from New York state. They plan to arrive on Wednesday to give them a full day to scout out the best place to watch the Sands get blasted by 400 pounds of dynamite.
"We thought we would bring some chairs and maybe camp out on the Boardwalk," Bojarczuk joked.
For Bojarczuk, the implosion holds the thrill of seeing a 21-story hotel tower come tumbling down in the middle of town, just across the street from the Claridge Casino Hotel (http://www.inform.com/Claridge+Casino+Hotel) and Bally's Atlantic City (http://www.inform.com/Bally%27s+Atlantic+City).
"You always see them on TV. It will be nice to see one live," she said. "I wonder how they're going to do it. It's so close to the Claridge and Bally's, so I'm curious how they're going to do that."
At the Sands, the 15th story will be the highest floor rigged with explosives. The 23-story Claridge, a stately red-brick building that began as an elegant hotel in the 1920s, is the closest major landmark to the Sands. Most of the Claridge hotel rooms facing the Sands will be closed off for safety, but the 18th floor and higher will be far enough above the blast and will remain open, officials said.
"I would imagine they're going to have a great view," Jim Santoro (http://www.inform.com/Jim+Santoro), project manager for implosion contractor Controlled Demolition Inc. (http://www.inform.com/Controlled+Demolition+Inc.), said of the bird's eye view for Claridge guests.
Some of the neighboring casinos are throwing high-roller parties to capitalize on the event. Bally's will use two restaurants on the sixth floor and its pool and spa area as a viewing platform for the implosion, spokeswoman Alyce Parker (http://www.inform.com/Alyce+Parker) said.
In a bit of nostalgia, Resorts Atlantic City (http://www.inform.com/Resorts+Atlantic+City) has invited a group of gamblers dominated by former Sands high rollers to a party on a 13th floor veranda overlooking the implosion site.
"This will be predominantly former Sands customers looking for a little bit of closure," said Steve Callender (http://www.inform.com/Steve+Callender), senior vice president of operations at Resorts. "I think it was a good fit. One of the things they talked about was seeing this happen."
Local noncasino businesses also will get in on the act. Atlantic City Cruises will set sail out of Gardner's Basin for an "implosion cruise" that will anchor close to shore for the big event. Demand was so strong that Atlantic City Cruises added a second boat after the first one quickly sold out, a company spokeswoman said.
Maloney's, a tavern on Tennessee Avenue, has hired a DJ and will have food and drink specials during a rooftop party to celebrate the implosion.
At Maloney's and other spots in town, no doubt there will be many farewell toasts to the Sands.
To e-mail Donald Wittkowski (http://www.inform.com/Donald+Wittkowski) at The Press:
DWittkowski@pressofac.com (DWittkowski@pressofac.com)

giselehaslice

October 15th, 2007, 07:50 PM

As someone previously stated, MGM Mirage owns about 15 acres adjacent to the Trump Marina. I beleive that MGM Mirage will hold onto their property over there, and will try to buy the Trump Marina in order to obtain more land. If/When they do this, they will demolish the Trump Marina, and I strongly beleive that MGM Mirage will then go ahead and plan to create another mega-resort. It could be another CityCenter styled development, or it could be a more resort-like place, like a Mandalay Bay.... Keep your fingers crossed. :)

American Gaming Guru

October 16th, 2007, 09:39 AM

That would be interesting. Both MGM's 14 acre plot and Trump Marina together would make a spectacular development site. It also encompasses the comprehensive Farley Marina which is and would be a great amenity that no other casino can claim. Trump should have bought MGM's lot when they were taking over Mirage and were selling off land holdings. To bad he did not have the cash to do it.

I have always liked the laid-back atmosphere of Trump Marina, but it was built as a boxy Hilton and will not be able to compete effectively with the new resorts; purely because of its functional obsolescence.

cysthead30

October 16th, 2007, 02:04 PM

Are there a lot of clubs in Atlantic City like you see in Vegas? I've never been to AC before but I plan to go in a few mos. Could anybody break down how it compares to Vegas?.....thanks.

d.josh6

October 16th, 2007, 02:57 PM

^thats cool. Now we know that it is actually a real company.

Do you know what they are interested in developing? Please tell. :)

I think they are planning on developing a condo hotel on the boardwalk. It looks like they are going for a higher-end boutique style building.
Here is what is on www.digeorgeatlantic.com (http://www.digeorgeatlantic.com)
“-DiGeorge Atlantic Properties is developing Atlantic City's first world-class boutique hotel and ultra luxury condominium residences. Sure to become the most sought after location on the East Coast, our amenities, level of service, and location will be unmatched.
-Some of what you can expect will include:
International Designers
Best Views in Atlantic City
Multistory Destination Medi Spa
Three Multistory Destination Restaurants and Nightclubs »Dramatic Infinity Pool Complex overlooking the Atlantic Ocean
Poolside VIP Bungalow Suites
And much, much more!!”

giselehaslice

October 16th, 2007, 03:29 PM

Thanks D.josh, that would definatley be another great thing for the boardwalk.

^As for AC's club scene, I would say that it is pretty hot and only getting hotter. Obviously The Borgata has the best clubs, MIXX and mur.mur, which actually has quite a few celebrity sightings here and there. Also, on the boardwalk at the Tropicana, they recently opened a new club which is actually a branch of Providence which is originally from New York, and it looks very good, very VIP. :cool: Also you got Jay-Z's 40/40 club in front of Caesars on Pacific Aveune. When compared to Vegas it is obviusly smaller, but still I would say that it is stilly pretty hot.

More Clubs on the way though!:D

American Gaming Guru

October 17th, 2007, 08:56 AM

The other only really big "clubs" I can think of (not mentioned already) are The Casbah at the Taj (always an AC favorite with Mixx and mur.mur) and Club Worship at the House of Blues. Also a legendary club is called Club Tru (open very late-night after all the others have closed down). I think it might be closed for renovations though. Not sure.

giselehaslice

October 19th, 2007, 03:32 PM

I was at the Sands Implosion last night, and it was unlike anything I have ever seen before. It was spectacular. There must have been 100,000 people on the Boardwalk and Beach watching the implosion, IT WAS CRAZY BUSY!

Here's a link to watch the implosion:
http://www.pressofatlanticcity.com/top_story/story/7510508p-7408671c.html

giselehaslice

October 20th, 2007, 07:59 PM

Hey Guys!

I have started a new blog discussing all the development in Atlantic City.
Please make sure to leave feedback! (Positive or negative).

Make Sure to check it out!

theatlanticsource.blogspot.com (http://www.theatlanticsource.blogspot.com)

American Gaming Guru

October 21st, 2007, 01:45 PM

I was at the implosion too. A great night for Atlantic City! Can't wait to see what Pinnacle has in store for the site.

BTW, I drove by the Revel site as well. They look like they are full-steam ahead at this point. Very interesting.

American Gaming Guru

October 21st, 2007, 03:54 PM

As I was watching the Sands Implosion, I happen to run into DiGeorge Atlantic Properties site just off the boardwalk. Here is a pic of it. It is right next too the Atlantic Palace.

http://maps.live.com/default.aspx?v=2&cp=qjskxx8sxy09&style=o&lvl=1&tilt=-90&dir=0&alt=-1000&scene=14938153&encType=1

It looks like they own the lot behnd the boardwalk shops under facade renovation in the pic. The facades, by the way, were completed and look great.

American Gaming Guru

October 24th, 2007, 09:02 AM

Still no renderings just an update......

Negotiations continue on development agreement for new $2B. casino

(Published: October 23, 2007)

ATLANTIC CITY - There will be a new Revel Boulevard and a new Revel Beach. That much is known. But there are some serious issues that must be resolved before the revelry can truly begin.
Negotiators are trying to overcome some formidable obstacles in a development agreement that could allow Revel Entertainment Group to break ground on a proposed $2 billion megacasino as soon as Nov. 9.
The agreement has already been rewritten several times and more revisions are needed before City Council is ready to vote on it, perhaps as early as its meeting today, said Councilman Dennis Mason, a key negotiator.
"It's gone through many drafts and we're waiting on another one. There is a chance that we won't do it (today)," Mason said in an interview Tuesday afternoon while talks continued between city representatives and Revel.
Revel, an upstart gaming company backed by Wall Street financial giant Morgan Stanley, plans to build a casino complex that would include two hotel towers totaling 3,800 rooms, 150,000 square feet of casino space and 500,000 square feet of dining, retail and entertainment attractions. A grand opening is expected in 2011.
The development agreement lays out the rights and responsibilities of both sides before construction begins on the project. Revel is tentatively scheduled to seek city Planning Board approval Nov. 7 and break ground on the casino two days later if the agreement is authorized by City Council, Mason said.
"I would really like to see the groundbreaking on Nov. 9. But if in any way the city is in jeopardy, it may not take place," Mason said.
Kevin DeSanctis, Revel's chairman and chief executive officer, was unavailable for comment Tuesday. Revel spokesman Joseph Jaffoni also could not be reached.
Revel is developing a 20-acre oceanfront site next to Showboat Casino Hotel. The long-vacant property has already been declared the Revel Redevelopment Area by the city. As part of the development agreement, a portion of Connecticut Avenue serving the site would be renamed Revel Boulevard and the surrounding area would be called Revel Beach.
However, negotiations involving the fate of two city-owned landmarks, Bader Field and the Garden Pier, threaten to sidetrack the agreement. Mason said talks have been complicated by the demands of a third party, the Casino Reinvestment Development Authority, the state agency that oversees redevelopment projects in the city.
"There are compromises that have to be made," Mason said. "But we need the CRDA and their resources to move this thing."
The latest draft of the Revel agreement contains a clause on Bader Field stating that any casino development at the former municipal airport would have to be preceded by construction of a new road link to the Atlantic City Expressway. If that condition is not met, Bader Field's developer would have to pay liquidated damages of $1 million a day to the city.
Thomas D. Carver, executive director of the Casino Reinvestment Development Authority, objects to the clause, arguing that it would discourage development of Bader Field at the same time his agency is conducting an analysis of the site to determine its "highest and best use."
"We have some very serious concerns about the liquidated damages they want to put in the agreement," he said. "We are concerned it could hinder or tie up the development of Bader Field for a long time."
Carver said he hopes the development agreement would allow for Bader's redevelopment while also protecting Revel's interest. Revel is one of the gaming companies in town that oppose the possible rezoning of the 140-acre Bader site for casinos.
"We're 100 percent behind the Revel project, but we're also trying to work with the city and Revel to proceed with Bader's redevelopment without frightening developers," Carver said.
In addition to the debate over Bader Field, another sensitive issue is what would become of the Garden Pier once Revel builds its casino. Garden Pier, dilapidated on the ocean end but home to the Atlantic City Arts Center and the Atlantic City Historical Museum on the Boardwalk side, may be consolidated within the Revel site.
City Council is expected to discuss whether to sell or lease the Garden Pier to Revel as part of the development agreement. Mason said he prefers leasing the pier to Revel to ensure a steady stream of income to the city, but is absolutely against any deal that would simply give the site to the company.
"If you want the pier, you have to pay for the pier," he said. "No more giveaways." - By staff writer Donald Wittkowski

American Gaming Guru

October 25th, 2007, 09:27 AM

More time needed for Revel casino development agreement

By DONALD WITTKOWSKI Staff Writer, 609-272-7258
Published: Thursday, October 25, 2007
ATLANTIC CITY - Revel Entertainment Group (http://www.inform.com/Revel+Entertainment+Group+LLC) likely will need about two more weeks to wrap up a city development agreement for its proposed $2 billion megacasino, according to the company's chief executive.
If all goes as planned, Revel may start work as soon as Nov. 9 for the piles and foundations that will serve as the underpinnings of the oceanfront project. However, the company is currently not considering a groundbreaking ceremony to celebrate the occasion.
"The whole concept of a formal groundbreaking is something I haven't spent a lot of time thinking about," said Kevin DeSanctis (http://www.inform.com/Kevin+DeSanctis), Revel's chairman and chief executive officer. "What I would say is that Nov. 9 is a possibility for starting the pilings, footings and foundations."
Revel is in the closing stages of a development agreement with the city that will lay out the rights and responsibilities of both sides for the new casino - a colossus of two hotel towers totaling 3,800 rooms, 150,000 square feet of gaming space and 500,000 square feet of retail, dining and entertainment attractions.
Concurrent to the negotiations for the development agreement, Revel is seeking construction approvals from state and city agencies. Among them, the company is scheduled to appear at a Nov. 7 city Planning Board meeting. At that time, Revel will publicly unveil architectural renderings for the casino, DeSanctis said.
Originally, it was thought that City Council might be ready to vote on the development agreement Wednesday, but DeSanctis stressed that talks probably will continue for two more weeks.
"We've had a really good discussion and we're going back and forth," he said. "I don't think anyone wants to rush it. It's too important."
Major issues that still need to be resolved are the possible redevelopment of Bader Field and the fate of Garden Pier. DeSanctis suggested putting all talks aside for the moment on Garden Pier, the city-owned Boardwalk site that may be consolidated within the Revel project if a sale or lease can be arranged.
"Garden Pier is something we have all decided to put on the back burner," DeSanctis said. "It just seems to be an issue that we'll come back to at some point. There's been this question about the value of Garden Pier.
"First, we all have to agree on how you determine value for Garden Pier. Once you determine value, then you can sit down and work out an agreement," he continued.
Revel's negotiations are also being influenced by debate over Bader Field, the former municipal airport that is awaiting redevelopment in years to come, possibly for new casinos. DeSanctis said Revel isn't opposed to Bader's redevelopment, but wants assurances that transportation improvements will be in place before construction begins at the 140-acre site at the foot of the Route 40 corridor.
"We would not be supportive of anything happening at Bader Field unless there is a comprehensive traffic solution," DeSanctis said.
The latest draft of the Revel agreement contains a clause on Bader Field stating that any casino development there would have to be preceded by construction of a new road link to the Atlantic City (http://www.inform.com/Atlantic+City) Expressway. If that condition is not met, Bader Field's developer would have to pay liquidated damages of
$1 million per day to the city.
The controversial clause, already generating opposition from some state officials, would slow down development at Bader Field and is seen as a way of protecting Boardwalk casinos such as Revel's from new competition.
Revel plans to build on a 20-acre site next to the Showboat Casino Hotel (http://www.inform.com/Showboat+Atlantic+City). A grand opening is expected in 2011.
Although it is partners with Wall Street (http://www.inform.com/Wall+Street) financial giant Morgan Stanley (http://www.inform.com/Morgan+Stanley), Revel still must line up financing for the project. DeSanctis said he expects to secure a combination of bank loans and bond funding. Analysts have noted that financing could be hampered by current difficulties in the bond market.
To e-mail Donald Wittkowski (http://www.inform.com/Donald+Wittkowski) at The Press: DWittkowski@pressofac.com (DWittkowski@pressofac.com)

American Gaming Guru

October 31st, 2007, 08:32 AM

MGM may want to roll the dice at Bader Field

By DONALD WITTKOWSKI Staff Writer, 609-272-7258
Published: Wednesday, October 31, 2007
http://pressofatlanticcity-proxy.nandomedia.com/ips_rich_content/49-bader_001.jpg
MGM Chairman and Chief Executive Officer Terry Lanni asys his company would be 'very interested' in Bader Field if local officials open the area to casino development.
Staff photo by Ben Fogletto

ATLANTIC CITY (http://www.inform.com/Atlantic+City) - Gaming giant MGM Mirage Inc. (http://www.inform.com/MGM+Mirage+Inc.), which already plans to build a $5 billion megaresort that would redefine the Atlantic City market, put itself in line Tuesday to develop another major site if the land is rezoned for casinos.
While other gaming companies are opposed to opening up Bader Field for casino development, MGM's chief executive would like to see the 140-acre former municipal airport transformed into a casino attraction.
"If and when the governor, the City Council and the other powers that be determine that is an area that could be developed into resort casino development, we would be very interested in it," said Terry Lanni (http://www.inform.com/Terry+Lanni), MGM's chairman and chief executive officer.
Lanni's comments, made during an MGM conference call to discuss the company's third-quarter earnings, likely will put intense pressure on political leaders to reach agreement on Bader's redevelopment. Already, Las Vegas (http://www.inform.com/Las+Vegas) casino mogul Steve Wynn (http://www.inform.com/Steve+Wynn) has promised to build a massive casino resort if he is given control of the site.
Alluding to Wynn, Lanni said he is concerned about press reports that suggest the city has already anointed Wynn as its preferred developer, although no decisions have been made while political debate continues on Bader Field's future.
"If I read the press, it just seems like one company has been assigned that particular site, and I think that's a mistake, because I know a number of us who are interested in that site," Lanni said, without divulging the names of other possible developers.
At the same time, some casino companies are vigorously opposed to converting Bader into a casino site. Dan Lee (http://www.inform.com/Dan+Lee), chairman and CEO of Pinnacle Entertainment Inc., has threatened to abandon his company's plans for a $1.5 billion gaming resort on the site of the old Sands Casino Hotel (http://www.inform.com/Sands+Atlantic+City) if Bader is approved for casinos.
Lanni argued that opponents should not fear the extra competition. Combined with new casino projects across town in the Marina District, Bader's redevelopment could dramatically reshape Atlantic City into more of a Las Vegas-style tourist destination that would brush aside competition from the modest slot parlors in Pennsylvania (http://www.inform.com/Pennsylvania), he said.
"If we have a must-see site that is a destination resort ... we believe that will more than offset what is happening in Pennsylvania," Lanni said. "To date, as you know, Pennsylvania has slot houses, basically."
Pennsylvania's slot parlors are largely to blame for a nearly 5 percent drop in Atlantic City gaming revenue in the first nine months this year. If trends hold, 2007 will represent the first annual decline in revenue since casino gambling began in 1978.
Meanwhile, MGM's interest in Bader Field comes as the company is moving forward with plans for a $4.5 billion to $5 billion project in the Marina District that would be the city's largest and most expensive casino ever.
The 3,000-room development, expected to open in 2012, will rise on a 72-acre site next to Borgata Hotel Casino & Spa, which MGM jointly owns with Boyd Gaming Corp. (http://www.inform.com/Boyd+Gaming+Corporation) The posh Borgata, the top-grossing casino, has proved that the market is ready for affluent New York (http://www.inform.com/New+York) customers who previously rejected Atlantic City as too mundane, Lanni said.
"Atlantic City has one opportunity to develop destination resorts that are second to none," he said. "They're the premier resorts on the East Coast and they would attract the New York rejectors as well as people from the Philadelphia (http://www.inform.com/Philadelphia) marketplace."
MGM's proposed casino would cater to a more upscale crowd by offering an array of high-end retail shops, restaurants and entertainment to complement the gaming action. Lanni noted that MGM has reserved 12 acres of the site for possible development of luxury condominiums.
"We will build a destination resort that will keep people coming to Atlantic City and staying for a lot longer period of time than they have in the past," he said.
While most of his remarks focused on Bader Field and the company's $5 billion casino project, Lanni also noted that MGM is considering offers for a 14-acre parcel it owns next to Trump Marina Hotel Casino (http://www.inform.com/Trump+Marina). He said the value of the site has grown tremendously because of MGM's casino plans across the street in the Marina District.
"There is significant interest in outright purchasing, a joint venture, anything you can possibly name," Lanni said.
MGM currently is embroiled in a court fight with a would-be condo developer who wanted to buy the 14 acres, but failed, and then sued to try to gain ownership. A Superior Court judge ruled in MGM's favor in February, but the developer has appealed.
"We won the original case, but it's on appeal, so it's probably more prudent for us to wait through the legal process before we do anything," Lanni explained of the development options.
To e-mail Donald Wittkowski (http://www.inform.com/Donald+Wittkowski) at The Press: DWittkowski@pressofac.com (DWittkowski@pressofac.com)

STT757

October 31st, 2007, 09:12 AM

Airport Launches Marketing Pitch Aimed at Growth

Airport officials hope additional rooms at the casino-hotels and less congestion for passengers will attract more big-name airlines.

Campaign capitalizes on more hotel rooms, expansion plans in Atlantic City

10/29/2007

EGG HARBOR
Atlantic City International Airport wants desperately to be bigger, and is waging a marketing campaign that emphasizes the area’s increase of hotel rooms, planned expansions at the airport and passengers’ difficulty navigating busier rival airports.

“Realistically, over the next 18 months I’d like to be able to announce two new carriers in addition to more service from the existing carriers,” says Sharon Gordon, director of communications and marketing for the South Jersey Transportation Authority, which owns the airport.

Currently, the airport has two major carriers, Spirit Airlines and Delta Air Lines, running a total of 14 flights in and out of the airport every day.

Gordon says she is talking with airlines at Newark Liberty International Airport and Philadelphia International Airport in an effort to convince them to run some of their flights out of Atlantic City, where there is less congestion for the aircrafts on runways and for passengers in the terminal.

“We’re working in concert with the Philadelphia and Newark airports,” says Gordon, who notes, for example, that Continental Airlines in Newark could benefit by getting closer to passengers in South Jersey. And Newark Airport could benefit by relocating some flights to reduce overcrowding at its facility, she says.

Gordon seems to have more ammunition than ever as she wages the airport’s long-running battle to convince airlines that Atlantic City Airport is a place they should be. The arsenal includes an explosion of new hotel rooms planned for the nearby gambling resort to attract air travelers; a new $24.5 million parking garage under construction that will more than double parking at the airport to 2,700 spots; and a $13.5 million planned expansion of the runway apron that will create space for more aircraft while freeing up space to eventually double the number of gates from seven to 14.

“This destination has arrived and the prospect for (attracting new) air service to Atlantic City has never been better,” Gordon says.

But getting airlines to move to Atlantic City isn’t easy.

“The greatest barrier to our marketing efforts is our proximity to Newark and Philadelphia airports,” Gordon says. “We have overlapping markets, and the major airlines say they are already serving those markets. In their minds, they are comfortable in New York and Philly.”

It costs an airline $7 million to move to a new airport, and it’s risky, Gordon says.

Here’s her pitch to airlines in a nutshell: “You can save money and still capture the market. You can avoid congestion and air-space capacity issues. We are between New York and Philly and we have less congestion.”

Atlantic City Airport is overcoming one of its longest-running problems—the small number of hotel rooms that limit the number of overnight customers the city attracts. The city has 18,000 hotel rooms, compared with Las Vegas where there are 120,000 hotel rooms, says Richard C. Perniciaro, director of The Center for Regional and Business Research at Atlantic Cape Community College.

The expansion of three casino properties—the Borgata, Harrah’s Atlantic City and Trump Taj Mahal—will add 2,500 new hotel rooms next year, bringing the total number of hotel rooms in the resort city to 20,500.

Meanwhile, the planned construction of three new casino-hotels is expected to bring 9,000 more rooms over the next five years.

“There was always the thought you need at least 20,000 to 24,000 rooms to get [more] airline service in Atlantic City, and it is getting very close to that,” Perniciaro says. “They are getting closer to where airline service gets more vital and more possible. The city has been aiming for that plateau.”

Says Gordon, “New hotel rooms are going to jump-start the opportunity” to get more flights.

http://www.njbiz.com/weekly_article_reg.asp?aID=94849818.5750651.939809 .3772639.9408212.777&aID2=72284

voodoochild

October 31st, 2007, 09:59 AM

May 9, 2004

Atlantic City Seeks New Image: Las Vegas's

By IVER PETERSON

ATLANTIC CITY, May 6 - Atlantic City turns 150 this summer, and it's busy working up its next act.

It sold cool ocean breezes by day and bawdy entertainment at night back when cities on the East Coast had tight morals and no air-conditioning.

Then it sold gambling, when the only other legal gambling was some 2,000 miles away in Nevada.

And now, with gambling almost everywhere, and more on the way, the Atlantic City casinos and the New Jersey state government are spending close to $1 billion to remake the city into a glossy shopping, entertainment and - yes - gambling attraction, with Las Vegas as its model.

"We are going to make ourselves into the Queen City of the Atlantic again," said Curtis J. Bashaw, executive director of the Casino Reinvestment Development Authority, which collects a 1.25 percent tax on casino revenue and puts it back into economic development projects in the city and elsewhere in the state.

The urgency is clear in the city's books: except for the Borgata Hotel Casino and Spa, which opened in July, the city's casino revenue is barely growing, as more and more gambling outlets open in a tightening ring around the shore. Delaware and West Virginia now have casinos; the two giant Indian casinos in Connecticut are attracting New Yorkers, and more may be on the way; Pennsylvania wants to install slot machines at horse tracks, including in Philadelphia, which is practically in Atlantic City's backyard. And Gov. George E. Pataki wants to open three half-billion-dollar Indian resort casinos in the Catskills, 30 miles closer to the heart of Manhattan than Atlantic City, which is 130 miles away.

According to an analysis by Harrah's 2003 Profile of the American Casino Gambler, more of the metropolitan Washington's 700,000 casino gamblers go to Delaware or West Virginia - places that did not have legal gambling 10 years ago - than come here. Baltimore and Philadelphia are sending a growing share of its gamblers someplace else. And even though the New York metropolitan region's 5 million regular gamblers still favor Atlantic City, 13 percent go to Connecticut, and more will head to the Catskills when the opportunity comes.

There is also a sense here, although no one says it out loud, that this town is not attracting enough of the right kind of people, which is to say people with time and money - the kind who fly to Las Vegas for a week of gambling, dining and shopping.

In fact, Atlantic City's businesses have complained about "shoobies," a derogatory reference to day trippers that dates back to an era when they carried their lunches in shoe boxes. The sense here is that the city has to keep people here for longer stays.

"We will wean ourselves from being the image of a day-trip destination to being a hot spot again," Mr. Bashaw said.

Although Atlantic City's 12 casinos take in about the same $4.5 billion a year in gambling that the 22 big hotels along the Vegas Strip do, they make only $300 million on nongambling attractions like shopping, dining and personal care spas. "And I think even that $300 million is exaggerated," said Dennis C. Gomes, head of the Tropicana Casino and Resort in Atlantic City and president for resort operations at the Aztar Corporation, which owns the Tropicana here and the Tropicana in Las Vegas.

The Las Vegas hotels make much more on nongambling operations, $9.5 billion last year, according to Frank Streshley of the Nevada Gaming Control Board, although that figure includes revenue from a 23rd casino.

No wonder, then, that the buzzword around here is "nongaming revenue." The Sands announced on Thursday that it had started planning for a hotel expansion, with more shopping and entertainment space. Caesars and Gordon Group Holdings are spending $150 million to gut the old Ocean One pier, which was, until recently, a dingy warren of cheap shops and restaurants across the Boardwalk from Caesars. They plan to put in a high-end shopping and dining attraction, with Gucci already signed as a tenant, and Polo and Tiffany among the others in lease negotiations, Mr. Bashaw said.

Sheldon Gordon, chairman of Gordon Group Holdings, bet his fortune to build the Forum Shops at Caesars Palace in Las Vegas. The Roman-themed arcade has been wildly successful. The project in Atlantic City will be the Pier at Caesars, and its motto, "If you liked the desert, you'll love the ocean."

At the same time, Harrah's Atlantic City recently announced a new hotel and shopping tower project; Resorts Atlantic City is scheduled to open its new $125 million, 27-story hotel tower later this summer and is in discussions over more expansion; and Mr. Gomes's Tropicana will open its new shopping, dining and spa addition, designed to recall pre-Castro Havana and called The Quarter, this fall.

Copyright 2004 The New York Times Company
I can't see this ever happening. The surrounding area is waaaaaay to dangerous and run down. Everywhere you look there is a homeless person strung out on drugs. I can't see anyone wanteing to spend more than one day there, but I'll give it an E for effort.

66nexus

October 31st, 2007, 11:24 AM

I can't see this ever happening. The surrounding area is waaaaaay to dangerous and run down. Everywhere you look there is a homeless person strung out on drugs. I can't see anyone wanteing to spend more than one day there, but I'll give it an E for effort.

Outside downtown Las Vegas and the Strip is the same story. And the surrounding areas aren't for tourists anyway

giselehaslice

October 31st, 2007, 01:16 PM

voodoochild

October 31st, 2007, 02:23 PM

yeah that area is creepy and run-down, but I cant think of one urban city in the world that doesnt have a creepy and run-down area.

Anyway, take a look around next time you're in AC, you'll see progress everywhere.

I have to say....AC has already put up really nice shopping strips etc..I just can't see people saying.."Let's go take a weeks vacation in AC." You are also right about Vegas....I went to some club on the outskirts and couldn't get a cab back and walked a good 2 miles...woah...it was creeeeepy.

MidtownGuy

October 31st, 2007, 10:26 PM

I don't think anyone expects AC visitors to settle in for a week, they don't even expect that in Vegas. I think they're going for 1, 2 or 3 night stays.

investordude

November 1st, 2007, 07:42 PM

I don't like taking a zero sum view of the world, but certainly, the lack of this casino getting built is good for Atlantic City: http://www.nytimes.com/2007/11/01/nyregion/01casino.html?_r=1&%20ef=nyregion&%20ref=slogin

The next mayor of Philly is a Giuliani conservative (though he'll never admit because he's affiliated as a Democrat). But given he's conservative, I think he'll kill the Philly casino too.

If Atlantic City ever wants to compete with Vegas, it needs to attract the sexuality of Vegas. Cirque du Soleil, dance clubs, strip clubs, and "in room entertainers" are why people go to Vegas - without that Atlantic City will always be primarily for aging bus people wasting their social security checks on slot machines.

giselehaslice

November 7th, 2007, 04:27 PM

Finally the Renderings of the Mega-casino have been released! Go to http://theatlanticsource.blogspot.com too see the renderings!

STT757

November 7th, 2007, 05:43 PM

Bader Field casino plan winning converts
Wednesday, November 07, 2007

Now everyone wants a piece of Bader Field.

The 150-acre former municipal airfield -- where the word "airport" was first coined -- has been a source of controversy among casinos ever since government officials said they would consider allowing gambling resorts there.

Some big names have been drooling over the prospect of building gigantic resorts on a huge plot of land -- hard to come by in A.C. Gambling mogul Steve Wynn is interested. Penn National has been sniffing around.

But Boardwalk operators have vehemently opposed the plan. And none has been more vocal than Pinnacle Entertainment Chairman Dan Lee, who vowed to scrap his company's plans for a multibillion-dollar resort on the site of the former Sands if casinos were allowed on Bader Field.

Casinos at Bader Field would "draw people away from the Boardwalk district, so we end up with the crack addicts and the hookers," Lee said during an interview last spring, "and you end up with a competitor who doesn't have to deal with that."

What a difference a few months -- and meeting with the governor -- makes.

During a conference call with investors yesterday, Lee said he would actually consider vying for a casino at Bader in addition to building one along the Boardwalk. His remarks followed those by MGM Mirage Chairman Terry Lanni, who last week said he would also be interested in a Bader Field casino. MGM recently announced plans for a $5 billion resort next to Borgata.

Why the change of heart?

Lee said he spoke to Gov. Jon Corzine during the Oct. 18 implosion of the Sands and the governor was "clearly interested in seeing the Boardwalk area being redeveloped and improved."

Lee said he told Corzine: "'I'm worried if you don't do it right, Bader will suck the oxygen out of the Boardwalk.' And (Corzine) said, 'We don't want to do that.'

In an interview after the implosion, Corzine said he thought it would take some time before the issues with Bader Field are hammered out. The city owns the land and has considered selling it to raise money to pay off debt and offset the pain of a looming tax revaluation. And the Casino Reinvestment Development Authority recently hired a consultant to study its best use.

Even if the state and the city were to agree on what to do with Bader Field, roads would need to be built and an environmental assessment would have to be done.

That could take years.

"We're going to have to see how we go on Bader over a period of time," Corzine said after the casino implosion. "It's a complicated project."

Some industry observers have wondered if companies like Pinnacle and MGM could use Bader as an excuse to delay their previously announced projects in A.C.

But Joe Weinert, senior vice president of the consulting firm Spectrum Gaming Group, said companies have come to realize Bader's 150 acres offers an enticing prospect in the country's second-largest gambling city.

"Arguably that is one of the most attractive casino development sites in the world," Weinert said. "So you can either fight, or you can join. I think those who fight it essentially would be buying time. Those who join in are buying the possibility of a very handsome reward at some point."

<http://www.nj.com>

American Gaming Guru

November 7th, 2007, 06:06 PM

Revel beachfront casino gains Atlantic City approval (http://www.pressofatlanticcity.com/top_story/story/7514996p-7413993c.html)
http://pressofatlanticcity-proxy.nandomedia.com/ips_rich_content/641-revel%20casino_001.jpg (http://www.pressofatlanticcity.com/top_story/story/7514996p-7413993c.html)5:25 p.m. Update - Revel Entertainment Group won city planning approval Wednesday for...

5:25 p.m. Update -

Revel Entertainment Group (http://www.inform.com/Revel+Entertainment+Group+LLC) won city planning approval Wednesday for a $2 billion casino resort that will feature a striking twin tower design and an array of gaming, dining and retail attractions in a curvy building overlooking the Boardwalk.

In a surprise development, the company revealed that the casino is expected to open in the second half of 2010, dramatically speeding up the timetable from the original target date of 2011.

The hotel towers, each containing 1,900 rooms, will soar 710 feet high, dwarfing anything on the Boardwalk. A lower building known as the "podium" will hold the casino, retail shops, restaurants and nightclubs. Its undulating facade will offer spectacular views of the beach and ocean.

Kevin DeSanctis (http://www.inform.com/Kevin+DeSanctis), Revel chairman and chief executive officer, said construction should begin on the foundation work by the end of November. The 20-acre site is bordered by New Jersey Oriental and Metropolitan avenues and the Boardwalk. - Donald Wittkowski (http://www.inform.com/Donald+Wittkowski), Staff Writer See Thursday's edition of The Press for complete coverage.

American Gaming Guru

November 7th, 2007, 06:19 PM

giselehaslice, I like the blogspot and your link to Revel's website with further renderings!

I like what I see. It reminds me a bit of a cross between MGM's City Center and The Cosmopolitan, which are both under construction in Vegas. What is completely striking to me is this slide. Does anyone else recognize the McDonald's and Starbucks logo's in what appears to be a boardwalk entrance or transparent wall??? What a shame. I sincerely hope that this was a mistake or that the entrance to this otherwise beautiful resort will not be the Golden Arches!
http://www.revelentertainment.com/images/photogallery/full/Revel-Exterior5.jpg

Fabrizio

November 7th, 2007, 06:37 PM

Dreadful.

I find it very hard to believe that this is anywhere near what will be built. After all the talk about restoring the b'walk to it's former glory?

It looks like the outside of a sports stadium.... not the streetwall of a grand promenade.

lofter1

November 7th, 2007, 07:24 PM

For many Americans a sports stadium = St. Peter's Cathedral.

go figure

Fabrizio

November 7th, 2007, 07:46 PM

Note the extra-cheese design motif on the tower walls. Look familiar?

I wonder how long AtlanticCitians have to wait for the re-clad:

(place side-by-side)

http://www.theslatinreport.com/content/pictures/newverizon.jpg

giselehaslice

November 7th, 2007, 09:02 PM

okay, I dont want to start a fight, but I think that this new resort looks fine, and there is absolutely no way that a fake looking remake of an early 1900's Atlantic City building would look classy..that just screams cheesy to me. While I beleive that it is important for the city to retain its history, I also think that it has to live in the 21st century too.

^ As for the McDonalds at the Revel Casino, I pray also that this is just a prelimenary sketch, and that it will not include the McDonalds. In reality, I actually strongly beleive that Micky D's wont accupy any space in the resort.

Anyway, Its cool because theyre now saying that this will open in the middle of 2010! :cool:

JCexpert558

November 7th, 2007, 09:18 PM

I really hope that they raise the height limit to at least 1500 feet because I would like to se a super tall building in Atlantic City.:)

unknown memory

November 8th, 2007, 03:01 AM

It looks nice in the rendering...but... what they have to offer with this new mega-resort is disappointing. *sighs* Ah well. There's always another resort to wait and see....

Fabrizio

November 8th, 2007, 04:09 AM

The fact that the company is showing a rendering of a billion dollar building complex emblazoned with McDonalds and Starbucks logos is just strange.

Could you imagine the rendering of a new luxury mega-resort for Las Vegas with the same?

American Gaming Guru

November 8th, 2007, 09:35 AM

I really don’t get it. The name too 'Revel". It just does not give the feeling of allure as does Borgata, Mirage, Bellagio etc. Make no mistake about it, the CEO, Kevin DeSanctis, is undoubtedly one of the most brilliant people in gaming. But what has been presented here, while incredibly good for Atlantic City, is a bit blah.....

Perhaps more details form the Star Ledger help:

<H1 class=red>A.C. revels in plans for casino

</H1>New site's preliminary approval gets company closer to winning deal

Thursday, November 08, 2007 BY JUDY DeHAVEN

Newhouse News Service
It seems casino companies are always touting multibillion-dollar plans for Atlantic City.
But Revel Entertainment is the one putting the shovel in the ground. And it's doing so without the usual fanfare.

http://ads15.udc.advance.net/RealMedia/ads/adstream_lx.ads/www.nj.com/xml/story/times_of_trenton/bz/bz/1640537297/StoryAd/NJONLINE/HSBC03_NJ_RoS_Rect02/851410.html/64316266616638323437333331643830?_RM_EMPTY_&
Yesterday, the company, headed by former Penn National chief operating officer Kevin DeSanctis and backed by Wall Street firm Morgan Stanley, gave the public its first peak at what Atlantic City's 12th and newest resort will look like as it went before the city's planning board for preliminary site approval of its project.
The drawings show two thin silver towers that will be the tallest in A.C., with an elevated podium in between, landscaped with greenery and lots of water. Atlantic City is, after all, a beach town, and Revel hopes to capitalize on that with cabanas, an indoor and outdoor pool and nightclubs overlooking and facing the beach. It also will have a private beach heated with fire pits during the winter.
City and state officials hope Revel's project will be the start of a $10 billion building boom that will include a $2 billion casino from Pinnacle Entertainment on the former Sands casino site and a $5 billion resort from MGM Mirage next to Borgata. A fourth, from Wally Barr, former Park Place Entertainment CEO, and Curtis Bashaw, former executive director of the Casino Reinvestment Development Authority, also is in the works next to Hilton.
"This is very significant for the city," A.C.'s Planning Director William Crane said in an interview after the meeting. "It's the next step up from Borgata. And it should be something that sets the bar a little higher in helping the city develop as a destination resort."
Borgata was the last new Atlantic City casino to open -- in July 2003.
The preliminary site plan approval allows Revel to start work on piles and foundations and was the first in a series it needs before it starts major construction. The company also expects to receive final approval of its redevelopment agreement with the city today.
But crews, which have already done prep work on the site, will start major construction without the usual dog-and-pony groundbreaking ceremony.
"We're very excited that we can start our foundations and footings, but at the same time, we have a long road ahead of us," DeSanctis said. "And there will be an appropriate milestone in which to really celebrate."
To be sure, some details are still being hammered out. Like the price tag. In recent months, DeSanctis said the casino would be in the $2 billion range. Yesterday, he said it was going to cost less than MGM Mirage's proposal but more than Pinnacle's.
Revel also needs project financing. Currently, the company is operating from interim financing provided by Morgan Stanley, although the privately held company has not divulged details. DeSanctis said he expects to go out for full project financing during the first quarter of 2008. He did not seem worried the turmoil of the credit markets would hurt his chances. And he said the resort's opening has been pushed up, to late 2010, from 2011.
The 20-acre site -- one of the largest contiguous plots in Atlantic City -- is next to Showboat along the Boardwalk. Crane, the planning director, said he was pleased to see Revel incorporated the beach into its Boardwalk entrance -- the opposite of what Boardwalk casinos did when they opened more than 20 years ago and designed the casinos to keep people inside gambling. Revel's resort will have 1,000 feet of beach frontage.
The casino -- a total of 150,000 square feet, smaller only than Bally's -- will have 40-foot ceilings with a mezzanine level. And while two towers with roughly 1,900 rooms each are planned, DeSanctis said the second may not be built initially but could come later.
As Atlantic City is trying to differentiate itself from slot parlors in neighboring states, Revel's plans also include a lot of non-gambling items, like shops, a 5,500-seat theater and a spa. DeSanctis said it was designed to be more of a resort with a casino than a traditional casino with a few restaurants and bars.
He said while conceptualizing the project, he thought of it as a big party room. Hence the company name, Revel.
"What are we trying to accomplish?" he asked. "The whole concept of having a party. And that's what revel means. (We wanted) to created a really great experience to make people say, 'Oh man, this is going to be fun.'"

American Gaming Guru

November 8th, 2007, 09:49 AM

"The drawings show two thin silver towers that will be the tallest in A.C., with an elevated podium in between, landscaped with greenery and lots of water. Atlantic City is, after all, a beach town, and Revel hopes to capitalize on that with cabanas, an indoor and outdoor pool and nightclubs overlooking and facing the beach. It also will have a private beach heated with fire pits during the winter"

Now that talks to me!

STT757

November 8th, 2007, 11:16 AM

I hoping one of these new projects (Revel, Pinnacle, MGM etc) will bring Nobu to Atlantic City.

giselehaslice

November 8th, 2007, 11:27 AM

ok, the renderings are obviously preliminary, and i can guarantee that McDonalds wont be a part of it. I think once it is done, it will be a very nice place....for over 2B dollars it will have to be. Just give it a chance before you go and shoot it down..

Some people on this thread seem to shoot down everything though, i guess some people will never be pleased...

American Gaming Guru

November 12th, 2007, 06:12 PM

I just heard that Harrah's has scheduled a topping-off ceremony for their new 525 ft tower this Thursday 11/15 at 11:00am.

arcman210

November 13th, 2007, 11:29 AM

Casino builders roll the dice big time in Atlantic City
Posted by the Asbury Park Press (http://www.app.com/) on 11/13/07

THE ASSOCIATED PRESS

ATLANTIC CITY — Five years from now, you might not recognize this place.
A burst of new, luxurious mega-casino projects to be built by 2012 will transform the face of Atlantic City into a more futuristic — and crowded — gambling resort.
At least four companies are betting a combined $9 billion that the makeover will help Atlantic City catch up with Las Vegas as a place to come — and stay — for more than just gambling.
Last week, Revel Entertainment Group unveiled drawings of its new $2 billion casino-resort, to be called simply "Revel." Due to open in the second half of 2010, at 710 feet, it will be the tallest building in Atlantic City — at least for a while.
It will feature two thin towers standing perpendicular to the water's edge, with as many as 3,900 rooms, and even Atlantic City's first casino wedding chapel. The interior complex, between the towers, is rounded so that it looks as if it has been shaped by gentle ocean waves.
Revel is partnering with investment firm Morgan Stanley on the project.
The casino will be Atlantic City's 12th, and the first one to open since the Borgata Hotel Casino & Spa debuted in 2003 and redefined the public's image of what the Las Vegas experience should look and feel like in New Jersey.
Hot on the heels of "Revel" will be another mega-casino to be built by Pinnacle Entertainment on the site of the former Sands Hotel Casino, opening in late 2011 or early 2012. The granddaddy of them all, a $5 billion casino resort planned by MGM Mirage in the marina district next to the Borgata, will be the largest project Atlantic City has ever seen when the first dice start tumbling in 2012.
The burst of new investment is the largest in Atlantic City since the start of casino gambling in 1978.
"Since the inception of New Jersey's gaming industry, there has been approximately $12 billion of capital investment to date," said Joseph Corbo, president of the Casino Association of New Jersey. "While that is significant by any standard, what is very encouraging is that about $4 billion of that investment was made in the past four years or so."
Pinnacle has been tight-lipped about its Atlantic City project, other than to estimate its price at between $1.5 and $2 billion. It won't say what it will look like or even what it will be called.
But last week, the company's chairman and CEO, Daniel Lee, said that in addition to its Boardwalk project, Pinnacle might consider joining the scrum of casino operators vying to build on the former Bader Field airport property, a 150-acre tract whose land alone could fetch $1 billion on the open market.
"We have two in St. Louis; we could have two in Atlantic City," Lee said last week.
It marked a turnaround for Pinnacle, which had threatened for months to scrap its Boardwalk project if the city and state permitted someone else to build a casino on Bader Field. The company maintained it would be at a competitive disadvantage because the newcomer would not have to buy multiple parcels, knock down buildings and clean up the site — as Pinnacle is doing on the Sands property.
Corbo estimated as many as three new casinos could be built at Bader Field if a city panel determines casino development is right for the area.
Saving the biggest for last, "MGM Atlantic City" will wrest the title from Revel as Atlantic City's tallest building when it opens in 2012. It will have three hotel towers with a combined total of more than 3,000 rooms, the largest casino floor in Atlantic City with 5,000 slot machines, 200 table games and 500,000 square feet of retail space, among other attractions.
MGM is a partner in The Borgata with Boyd Gaming.
A possible fourth new casino to be built on land near the Atlantic City Hilton Casino Resort by Curtis Bashaw, the former Casino Reinvestment chairman, and Wally Barr, the former chief executive officer of Caesar's Entertainment, is also on the drawing board.
The new casinos will join an already-expanding skyline: The Borgata, Trump Taj Mahal Casino resort, and Harrah's Atlantic City are all building second hotel towers. Earlier this year, the Hilton floated the idea of a $1 billion expansion, but company officials won't say if that's still on the table.
The new investment is not only attracting others interested in entering the Atlantic City market, but also forcing those already here to spend more to keep up or risk becoming irrelevant.
"This is exactly the development cycle that Las Vegas has experienced over the past 15 to 20 years and is what Atlantic City is poised to achieve as well," Corbo said.

http://www.app.com/apps/pbcs.dll/article?AID=/20071113/BUSINESS/711130329/1003

American Gaming Guru

November 13th, 2007, 12:33 PM

I just found this on the Architects website (www.arquitectonica.com (http://www.arquitectonica.com/)):

“This new US$2.5 Billion Casino Resort in two iconic towers on the beachfront of Atlantic City includes 3,600 hotel rooms, as well as cabanas that overlook the ocean. An urban public plaza opens up to a grand esplanade which moves through the site. Performance space is open to the building entry, allowing arriving visitors a glimpse of the action inside. The project also includes a 3 level Tao Nightclub which opens onto the pool deck. Future plans include a Garden Pier that will jut into the ocean and will include 30 high-end villas with private terraces, a private pool deck, a helipad and approx 60,000 SF (5,570m2) of Banquet/Convention Space. The total project development is over 6.4 million square feet (595,000m2).”

I am liking this project more and more as details come out!

giselehaslice

November 13th, 2007, 03:13 PM

^ a TAO nightclub? This officially marks the arrival of Atlantic City as a celebrity destination as well as a fantastic place to party!

Fabrizio

November 13th, 2007, 04:24 PM

It is just so ironic that while Atlantic City will be seeing buildings that look like illuminated 1960's office towers (sorry if I'm not enthusiastic)...
Las Vegas is getting towers that look like the old Dennis and The Marlborough:

http://img.photobucket.com/albums/v33/ronaldo/a1.jpg

http://www.vegastodayandtomorrow.com/the-plaza.htm

http://img.photobucket.com/albums/v33/ronaldo/dennis.jpg

giselehaslice

November 13th, 2007, 05:19 PM

The Plaza Las Vegas (rendering above), in my opinion, will be the cheesiest thing ever. It may be trying to recreate grandeur, but it will just be soooo incredibly corny no matter what they do. Don't get me wrong, I love Vegas, but I wouldnt wish this grotesque jumbled up building on anyone.

It actually kinda reminds me of the excalibur:p

Fabrizio

November 13th, 2007, 06:36 PM

Look, I'm convinced Aquatonica is going to do a nice job for Revel and the finished product will be much more than what that rendering shows.... but STILL... even if the Plaza project does have a high kitsch element, I wish we could have some old-style AC romance on the skyline.... and if not that, then how about some progressive modern stuff...some new classics... ANYTHING other than mundane mirrored boxes. The Dennis, Traymore, Blenheim, called themselves sand-castles by the sea... they too were exuberant and unrestrained.

JCexpert558

November 13th, 2007, 07:18 PM

Can some one post some new pictures of the Atlantic City skyline so far:D

investordude

November 13th, 2007, 10:56 PM

I mean - wouldn't we be disappointed if the Plaza isn't cheezy? I mean, that's the whole point - Vegas is a guilty pleasure. Atlantic City should try to emulate the fun.

American Gaming Guru

November 14th, 2007, 11:01 AM

I agree. How Aquitectonica not do a great job??? They are hands-down one of the best architectural firms on the planet.

In regards to The Plaza project, if Elad does it right utilizing brink, stone, copper roof tops etc as they said they intend to do, The Plaza could be a real iconic modern day development. And I agree, a similar project on the shores of AC would really be something else. A real grand hotel that emulates class and high level sophistication would really be marvelous.

Curtis Bashaw was the man behind the CRDA’s efforts to renew the boardwalk and engaged the CRDA to publish the building standards that I had posted previously. Perhaps his and Wally Barr’s anticipated resort development would incorporate some of those “throw-back” looks that a few of us have been looking for???? Stay tuned…..

Fabrizio

November 14th, 2007, 11:29 AM

I'm sure they are also aware of how the Plaza development recalls AC's glory days. I mean look at the comparison to the Dennis!

That hotel, still standing, deserves to be exposed to the B'walk.

If Las Vegas is considered a testing ground and on the fore-front of casino development, it is interesting to note that nearly ALL new casinos there have a nostalgic, fanciful look. Perhaps they know something about what the public wants.

Are those glorified office towers planned for AC going to make a real statement?

cysthead30

November 14th, 2007, 12:14 PM

I mean - wouldn't we be disappointed if the Plaza isn't cheezy? I mean, that's the whole point - Vegas is a guilty pleasure. Atlantic City should try to emulate the fun.

Damn right!!

66nexus

November 14th, 2007, 12:46 PM

^See there's cheesy, and then there's cheeeesy. Really cheesy is like the Taj Mahal facade.

I like modern architecture when it's done right i.e. The Wynn Vegas, Borgata, etc. The only tower I like on that plaza rendering is the one right in front...all the others look too overblown and gaudy. That 'more is more' effect takes away from that classic style architecture

American Gaming Guru

November 14th, 2007, 02:36 PM

Agreed. Did anyone notice the 2 Trump International Towers to the back left?? They are modeled after the Trump International (Former Gulf and Western Building) in NYC.

giselehaslice

November 14th, 2007, 03:11 PM

All I'm trying to say is that, yeah, I guess that Las Vegas is Cheesey, but they are trying to veer away from that phase (ie Wynn Las Vegas, Encore, CityCenter, Echelon Place), and im also trying to say that we dont need another Taj Mahal on the Boardwalk..haha. If it's done nicely, like the Bellagio, then I have no problem with it..but if it is really kitchy, we dont need it. (ie plaza las vegas)

STT757

November 18th, 2007, 02:31 PM

Planet Hollywood wants an A.C. casino in its universe

The Planet Hollywood Resort & Casino in Las Vegas might someday have a sister casino in Atlantic City.

Saturday, November 17, 2007

By WILLIAM H. SOKOLIC
Courier-Post Staff

ATLANTIC CITY
Add another name to the potential suitors for a piece of Atlantic City: Planet Hollywood.

Robert Earl, co-founder of the company that opened a chain of celebrity-memorabilia restaurants, is looking to Atlantic City for his second casino hotel project.
Planet Hollywood Resort & Casino, a refurbished and rebranded hotel on the former site of the Aladdin, had its grand opening this week on the Las Vegas Strip, across from MGM Mirage's massive CityCenter construction site.

Company officials declined details, other than to say plans are in the process. This won't be the first time Planet Hollywood sought to bring its name to a casino hotel in Atlantic City. In 1996, at the dawn of a renaissance in the resort, Earl announced a joint venture with Caesars for a Planet Hollywood Casino Hotel on the former Traymore Hotel tract along the boardwalk, land then owned by Caesars.

The proposal never got much beyond the talking stage. Since then, the Planet Hollywood restaurant business Earl and a handful of celebrities built tanked, including the one in Caesars in Atlantic City. Harrah's Entertainment bought out Caesars, sold the Traymore acreage to the Sands, which in turn sold out to Pinnacle Entertainment. Pinnacle will develop its own multi-billion dollar resort on the site.

Whether Earl is serious this time remains to be seen.

"Many say they want to, but precious few deliver," said Joseph Weinert, senior vice president of Spectrum Gaming Group and managing editor of Michael Pollock's Gaming Industry Observer.

For one thing, developable land is close to nil in Atlantic City, excluding the long-range potential at Bader Field, the former airport. "Perhaps he can work a miracle with land assemblage, or consider a relatively small plot," Weinert said.

"I also question whether his company has the ability to enter a market where the effective minimum investment is $1.5 billion for a ground-up property."

Earl could gain entry by purchasing an existing asset, such as one of the Trump Entertainment hotels, still considered available for the right price. That's what his company did in Las Vegas, where it acquired the Aladdin after that hotel foundered in the aftermath of 9/11.

http://www.courierpostonline.com/apps/pbcs.dll/article?AID=/20071117/NEWS01/711170368/1006

I was in Las Vegas in July (hot as HECK!!), and the Planet Hollywood Hotel Casino was open then, albeit in the midst of huge renovation project. It had a nice mall that just needs to be upgraded a little.

As mentioned in the article Planet Hollywood's best option is to acquire one of the Trump Properties, and then renovate it to make it competitive with the new offerings coming to Atlantic City. Perhaps the Taj Mahal.

Trump Marina I think would be perfect for a Hard Rock Hotel and Casino, I went to the Hard Rock in Tampa back in May and was impressed. It was a smaller but still very attractive place.

STT757

November 18th, 2007, 02:35 PM

Harrah's rises to new heights

Thursday, November 15, 2007

ATLANTIC CITY - On a clear day, Rob Smith can see all the way to Long Beach Island to the north, Ocean City to the south and Atlantic City International Airport to the west. He can scan the ocean for miles and miles to the east.
He also can peer down at the many speck-like houses in neighboring Brigantine to find something of personal interest.

"Sometimes I can pick out my own home," said Smith, design and construction project manager for Harrah's Atlantic City.

These are the spectacular views that unfold from the top of Harrah's new 44-story hotel tower, the soon-to-be tallest building in Atlantic City's bulging skyline.

The 959-room skyscraper, soaring 525 feet high, is sheathed in cobalt blue glass imported from China. About 20,000 glass panes make up the shimmering skin.

"The only place where you can get this type of glass is China. But right now we're competing with the Olympics, so we had to pay a little more," Smith said of the demand for construction materials for the 2008 summer games in Beijing.
Harrah's will hold a traditional "topping off" ceremony today to celebrate the placement of the last steel beam. Joining the VIPs and casino executives at the ceremony will be the 550 construction workers who are building the project.

The tower represents the type of jaw-dropping attractions the gambling town is counting on to lure wealthier customers who will spend more time and more money in the casinos. About $9 billion worth of construction is planned in the next five years, including the possibility of three or four Las Vegas-style casino resorts, to fend off competition from new slot parlors in Pennsylvania and New York.

Harrah's is transforming itself into a more upscale resort to stand out among the casino clutter. Its next-door neighbor, Borgata Hotel Casino & Spa, is adding an 800-room boutique hotel scheduled to open by next summer. Across town on the Boardwalk, Trump Taj Mahal Casino Resort is building a nearly 800-room hotel expansion that will open next Labor Day.

Harrah's will claim bragging rights by opening the first of the three new towers. The first eight floors will be ready for business by Presidents Day weekend, with a staggered opening of the rest of the rooms through the end of June, Smith said.

A sneak preview Wednesday revealed a beehive of activity. Construction workers, clad in hard hats, crowded the rooms and hallways where guests will be pampered in coming months.

Work crews are cleaning the lower floors to prepare for the installation of the carpeting and furniture. Broom in hand, Kasha Williams was sweeping up in a guest room on the fourth floor.

"It's like everyday housecleaning. You clean your house, so you can clean up here, too. But here, you get paid for it," Williams said, smiling.

For now, the upper levels are wind-swept canyons of exposed concrete. Walls still must be installed on the top floors. Gigantic cranes ferry construction materials to workers high above the ground.

"When the wind goes beyond 45 miles an hour, the crane shuts down, so you can lose a couple of days of work during this time of year," Smith said.

When completed, the tower will feature 106 suites, including six super-suites for high rollers. Smith said some of the premium suites will spread out over four rooms and should be as lavish as any of the ultra-luxe lodgings in town.

The end suites on the top floors will treat guests to panoramic views of Atlantic City - and beyond.

"When it's really clear out, you can see the landing strip at the airport, and that's nine miles away. You can see Long Beach Island and Ocean City. You can also see the racetrack, and that's 14 miles away," Smith said of the Atlantic City Race Course to the west in Mays Landing.

The tower, a $350 million to $400 million project, is the anchor of a $550 million expansion of Harrah's. Two other phases opened earlier this year. The expansion includes 172,000 square feet of retail, dining and entertainment attractions. The aesthetic centerpiece is a $28 million pool and spa complex underneath a striking, 90-foot-high glass dome.

Harrah's hotel capacity will increase by almost 60 percent, to nearly 2,600 rooms, when the new tower is completed. Harrah's was the Marina District's first casino when it opened 26 years ago. It will now have five hotel towers dotting the property.

"We have room for one more," Smith said.

http://www.pressofatlanticcity.com/top_three/story/7516825p-7415976c.html

American Gaming Guru

November 19th, 2007, 01:02 PM

Whether Earl can operate a successful casino/resort remains to be seen. The LV Planet Hollywood is still in a ramp-up mode in my mind. What I have seen of it, though, looks good. I think Earl’s team has done a nice job with the poorly designed Aladdin. I just think the name is terrible. Planet Hollywood is a name that has come and gone.

I too also agree that Trump Marina would make a great Hard Rock as it at one time was intended.

Resorts International has a nice chuck of land directly adjacent to Resorts Atlantic City. Why they have not done a joint-venture with another resort developer like Hard Rock, Station etc. is beyond me.

Perhaps now that Colony Capital owns both Resorts International and Station Casinos, they will explore that option.

These are very exciting times for AC!

66nexus

November 19th, 2007, 06:54 PM

To augment all the latest posts about AC:

http://news.yahoo.com/s/ap_travel/20071119/ap_tr_ge/travel_trend_atlantic_city_future

whoops: didn't realize an earlier version of this same story was already posted. Ah well, enjoy still if you haven't already

American Gaming Guru

November 20th, 2007, 10:59 AM

I found additional MGM AC renderings on an MGM investor presentation. Unfortunately I could not figure out how to post them here. Here is the link to the presentation:

http://media.corporate-ir.net/media_files/IROL/10/101502/111207G2E.pdf

giselehaslice

November 26th, 2007, 09:43 PM

^ those renderings of MGM are nice.

Anyway..The DiGeorge Atlantic project has finally been unveiled. It will be called the Prasada (which I think is a cool name.) and will rise over 50 stories above the boardwalk. It looks really nice.. Here's a rendering..

http://media.philly.com/images/20071125_inq_digeorge25-c.JPG

Also, Apparently Revel has started construction becuase they have all approvals necessary to be secured in AC. We should see vertical construction fairly soon.

66nexus

November 26th, 2007, 10:51 PM

^That pic is nice. I think this will make AC the 'IT' place for gambling in the East. The surrounding state casinos are great, but the saying will be like: "Nice, but they're no AC"

American Gaming Guru

November 28th, 2007, 03:04 PM

Love the DiGeorge rendering. Thanks

American Gaming Guru

November 30th, 2007, 11:19 AM

On the heals of the Revel resort, Pinnacle's Resort and MGM's Planned Resort, I hear that the planned Casino project on the southern most portion of the city being developed by Curtis Bashaw and Wally Barr will not be a "Boutique" casino resort as wildly published.

Actually, it has been told to me that the developers are planning a resort in the 3,000 room range! They certainly have one of the best locations in AC. While a bit more remote than the other hotels (however still with great access), it will be located in the nicest neighborhood of AC, with the best beaches and when Badar field ever gets developed, will be in the same vicinity.

Here is a link to a picture of the site:

http://maps.live.com/default.aspx?v=2&cp=qjrdc48sw0c9&style=o&lvl=1&tilt=-90&dir=0&alt=-1000&scene=5238963&encType=1 (http://maps.live.com/default.aspx?v=2&cp=qjrdc48sw0c9&style=o&lvl=1&tilt=-90&dir=0&alt=-1000&scene=5238963&encType=1)

Stay tuned......

giselehaslice

November 30th, 2007, 03:25 PM

^thats great news! Hopefully they'll go public about this soon =) I also heard somewhere that there will be a significant retail promenade also. Has anyone else heard this. Fingers Crossed!

American Gaming Guru

December 5th, 2007, 02:32 PM

Casino plans could reshape Chelsea blocks

By DEREK HARPER Staff Writer, 609-272-7203
(Published: December 1, 2007)

ATLANTIC CITY - A casino operator's plans for the final stretch of Albany Avenue could remake some long-vacant blocks. But it may also change some resort landmarks.
City Council recently passed a resolution asking the Planning Board to prepare a redevelopment plan for several blocks of land near where Albany, Pacific and Atlantic avenues intersect. The board is expected to consider the idea early next year.
Among other tracts, it includes the former city high school site, the triangular Capt. John O'Donnell Park, the historic Knife and Fork Inn and the Masjid Al-Taqwa, a mosque and touchstone for the resort's immigrant population.
Much of the land is where former Park Place Entertainment CEO Wally Barr and former Casino Reinvestment Development Authority Executive Director Curtis Bashaw have proposed a casino project.
The resolution says that the majority of the proposed redevelopment area has been vacant for more than two decades. It adds that at least two previously announced projects fell through.
The casino would be the fourth proposed in a boom that has billions of development dollars contemplated. Revel Entertainment is working on a $2 billion development for the South Inlet, Pinnacle Entertainment is building on the former Sands Hotel & Casino site and MGM Mirage has announced a $5 billion plan adjacent to the Borgata Hotel Casino and Spa.
Bashaw is also part of A.C. Beach Development Partners LLC, which bought the resort's Holiday Inn and neighboring Howard Johnson. The company closed both in September to start a $93 million renovation.
Barr and Bashaw already own or have options on enough land to build their project, attorney Joseph R. Dougherty said.
City tax files show that a Delaware corporation, AC Gateway LLC, spent more than $17.7 million in 2006 and 2007 buying land. Among other tracts, the company owns the former city high school site on the west side of Albany Avenue between Atlantic and Ventnor avenues.
Dougherty, one of the attorneys working on the project, said the company is negotiating with other landowners in the proposed redevelopment plan area. But by seeking a redevelopment plan, the company would be unable to use eminent domain to acquire land.
The idea is a casino hotel with a garage, Dougherty said. But beyond that, specifics are tentative. "They are looking for land, and the development may change if they get it, and if they don't get it, then they don't change."
Builders are apparently staying away from the several nearby residential buildings, which could prove hard to acquire. A map of the proposed zone excluded several condominium buildings around the site, including the Seabreeze, Dunes, Admiral, Seashore West, Ocean Villas and Roosevelt Beach buildings.
Company leaders have already met with city officials several times. City Planning Director Bill Crane said they talked conceptually about their plans. But Crane declined comment because the company had not filed plans.
They are also expected to meet with the City Council Revenue and Finance committee next week. City Councilman Dennis Mason, who chairs the city Planning and Development Committee, said he had seen some plans.
They call for moving the monument out of the intersection and onto a concrete base in the park. As for the Knife and Fork, he said, "I saw some plans where it's removed and some where it remains."
The Knife and Fork, the resort's second-oldest restaurant, underwent an extensive 2005 renovation that updated the slender building at the corners of Atlantic, Pacific and Albany avenues in Chelsea that has long been the haunt of resort powerbrokers and politicos.
Owner Frank P. Dougherty said that AC Gateway has the option to purchase the Knife and Fork after Jan. 7. But he did not know what its plans for the landmark 1912 building are.
Frank P. Dougherty's brother is attorney Joseph R. Dougherty.
"I know Curtis is a person interested in historical buildings," said Frank Dougherty, whose family has also owned and run the resort's Dock's Oyster House since 1897. "So I would hope that they would be interested in saving or at least moving it."
Bashaw has previously worked to rejuvenate old Cape May hotels, including the 19th century Congress Hall.
As for the mosque, community leaders said they do not plan to sell.
"(The city) might have some (redevelopment) plans, but they never got to talk to us," said Muslim Community Organization of South Jersey President Syed M. Ali.
The mosque is arguably the largest single religious congregation in Atlantic City. Ali said more than 500 people can attend Friday evening services, but between 3,000 and 5,000 people are members.
During important religious holidays, worshipers fill the building and spill out onto the sidewalk surrounding the building at 3536-38 Atlantic Ave. Property records indicate the organization paid $80,000 for the property in 1994 and has since owned what is the Masjid Al-Taqwa.
Ali said that the community was looking for other spaces to expand in Atlantic City, but had no plans to sell this property. He said the community turned down an earlier sales offer.
The building, Ali said, "has become a holy place and we really cannot leave a holy place."
To e-mail Derek Harper at The Press: dharper@pressofac.com (dharper@pressofac.com)

giselehaslice

December 9th, 2007, 12:15 PM

^Speaking of the Chelsea...

FINALLY I have found "The Chelsea" boutique hotel's website.
There isnt much on it yet, but at least we have a place to check-up on development now.

The link is:

http://www.thechelsea-ac.com
:cool:

American Gaming Guru

December 12th, 2007, 04:44 PM

Columbia Sussex has been DENIED a license to own and operate the Tropicana and will be forced to sell it!

This is a MAJOR development and is sure to make major headlines shortly.

giselehaslice

December 12th, 2007, 04:53 PM

Yes, that is HUGE news. Columbia wasnt a very good company anyway, and i actually wanted them to sell the Tropicana. Hopefully we'll get a better company to come and buy it, and re-do the rest of the property.

Do you think that it might have to shut down if they dont get a buyer in time? Hopefully not....

American Gaming Guru

December 12th, 2007, 05:11 PM

I will not need to close down. Agreed...they are not a good operator.

From the press:

Latest News: Tropicana license denied

Published: Wednesday, December 12, 2007
ATLANTIC CITY (http://www.inform.com/Atlantic+City) - Tropicana's casino operating license was denied by the Casino Control Commission. It was only the second time in the 29-year history of Atlantic City casino gambling that a license was denied. The Commission cited mass layoffs and an "abysmal performance by owner Columbia Sussex Corp. (http://www.inform.com/Columbia+Sussex+Corporation) to comply with regulatory standards."

I am listening to Pinky's Corner right now. They will have an opportunity to appeal the decision.

MikeW

December 12th, 2007, 05:32 PM

This is probably going to ping-pong to Vegas. In AC, the Trop will most likely stay what it is now. But the Vegas Trop is in desperate need of a complete redevelopment, but is also a vastly valuable development site.

I could see this setting off a bidding war.

giselehaslice

December 12th, 2007, 06:31 PM

I think that this is actually a blessing, becuase if this didnt happen, the tropicana would have probably became a very unkept, untidy and not very appealing place. Hopefully now, like I said before they will re-do the rest of the Tropicana to make it fit more in with that old Havana theme.

Who do you guys think some potential buyers could be?

Oh yeah, also I read on the Press of AC's update that the casino will remain open until a buyer is found. Thank god for that, becuase otherwise it would spell catastophe for casino revenues.

American Gaming Guru

December 12th, 2007, 06:39 PM

Definitely Dennis Gomes and his new partner Cordish Co. Lets also not forget that there are numerous gaming companies trying to get into the AC frenzy including Mohegan Sun and Hard Rock with executives that have previous AC ties. I believe that Penn National has also expressed interest in AC.

I would even put Pinnacle in the pot. They looked at the property before and Dan Lee seems open to operating 2 casinos in one market…right?

giselehaslice

December 12th, 2007, 06:51 PM

your right, all of the companies that you stated above would make good candidates..How much do you think there gonna put it up for?

Also, while were on the Casino licence topic, WHEN ARE THEY GOING TO RELEASE THE MGM-PANSY HO REPORT? They said that it would be released in a month, but that was back in october!? Im crossing my fingers big time for that one. :)

American Gaming Guru

December 14th, 2007, 02:58 PM

I completely forgot about the MGM Pansy Ho report! Good question.

In regards to a sales price for the Trop, some people are speculating around 1 billion!

acplayer

December 28th, 2007, 11:16 PM

I believe that A.C. has a bright future although it will never be the resort it once was due to cultural and demographic changes. I was waiting at the crosswalk for the light at MLK & Atlantic Ave and within 30 seconds a couple of African-American males (I'm being pc) approached me and tried to sell me crack. I said no thanks and then a few seconds later another African-american approached me on a bike and asked me if I wanted crack. I said no again and then called 911 to report this to the police. I was only a couple of blocks from the walk. There should be police walking the sidewalks. A.C. is only a mile wide and a few miles long. With a police force of 400 cops why can't A.C. clean up Pacific and Atlantic Avenues? It's ridiculous. Half of A.C.'s population are welfare lifers, drug dealers and criminals. With A.C.'s future at stake the city can't afford to subsidize these people anymore. The same goes for A.C. city hall, whose payroll is so bloated with incompetant A.C.H.S. grads that barely made it out of high school, that it's almost comic until you see all the damage they're doing to the city.

giselehaslice

December 29th, 2007, 12:58 PM

AC could use some cleaning up, but if you have ever gone to vegas it is THE SAME EXACT THING. In reality, this happens in every city. I agree there needs to be more police presence in the neighborhoods though.

Anyway, in Casino news, Revel Entertainment casino has announced that they will build the two towers at the same time.

This is from Pinky's Corner in AC weekly.
http://acweekly.com/view.php?id=7867&issue_id=212

A recent television interview with Revel Entertainment’s president Kevin DeSanctis brought out some interesting comments. When asked when they were going to break ground, DeSanctis said they were already in the ground. He said the company is working diligently every day to reach its goal of having its new property open for business by fall 2010. Revel’s renderings show two 2,000-room towers and DeSanctis said the two towers will be built simultaneously. This means Revel will have 4,000 rooms to add to the city’s inventory.
If the current projects in Atlantic City that have been announced become a reality as stated — the development of the 3,000 rooms at MGM Mirage, 2,000 rooms at Pinnacle’s property and close to 1,000 rooms at Bashaw and Barr’s boutique casino hotel — Atlantic City will have over 25,000 rooms by the end of 2011. This is a goal that was targeted in order to truly make Atlantic City a full destination resort with ample rooms for gamblers, conventioneers and visitors who just want to enjoy the variety of facilities, activities, beach and the world’s best boardwalk.
DeSanctis said that Revel is awaiting an assessment of the Garden Pier to determine what, if anything, they will do with it. He has had talks with the board of directors of the Atlantic City Art Center and Atlantic City Historical Museum to determine where those groups would go if their facilities need to be moved to another location. The board members are looking at the possibility of locating across from Dante Hall and forming an arts complex that would encompass both groups and possibly others that would compliment the facility.
Revel would be involved in assisting with the relocation of the two entities, if it is determined they should move. DeSanctis stated that Revel will have a 500,000 square-foot area for their amenities. It will include retail shops that change their look from daytime to nighttime. There will be 19 restaurants from world-renowned gourmet chefs and a wide variety of food outlets available at moderate prices. The entertainment venues will feature a 5,500-seat arena, two nightclubs and a few dance clubs. The front of the facility is away from the Boardwalk, allowing Revel to have its own private beach, swimming pools, outdoor restaurants and bars with entertainment. The facility overlooks the Boardwalk, beach and ocean. DeSanctis noted that Connecticut Avenue will be widened to six lanes to allow for Revel’s traffic as well as traffic heading to other entities that are expected to be built in the south inlet section of the city. The Revel construction site will have a wooden fence around it with holes to look through to see the construction. The walls will have murals painted by local artists and school children.

American Gaming Guru

January 2nd, 2008, 11:41 AM

I saw this too. Bravo to Revel. AC needs ROOMS ROOMS ROOMS!

I will be down in AC tomorrow. I will try and take some pics of the construction site and post them.

MikeW

January 2nd, 2008, 03:16 PM

The casino industry really doesn't care about this. They'd prefer their customers to drive right onto the property, spend all their time and money on the property, then drive off the property (broke). The don't want the customers wandering of the property to partake in any local culture, or, even worse, wondering into some other casino.

I believe that A.C. has a bright future although it will never be the resort it once was due to cultural and demographic changes. I was waiting at the crosswalk for the light at MLK & Atlantic Ave and within 30 seconds a couple of African-American males (I'm being pc) approached me and tried to sell me crack. I said no thanks and then a few seconds later another African-american approached me on a bike and asked me if I wanted crack. I said no again and then called 911 to report this to the police. I was only a couple of blocks from the walk. There should be police walking the sidewalks. A.C. is only a mile wide and a few miles long. With a police force of 400 cops why can't A.C. clean up Pacific and Atlantic Avenues? It's ridiculous. Half of A.C.'s population are welfare lifers, drug dealers and criminals. With A.C.'s future at stake the city can't afford to subsidize these people anymore. The same goes for A.C. city hall, whose payroll is so bloated with incompetant A.C.H.S. grads that barely made it out of high school, that it's almost comic until you see all the damage they're doing to the city.

acplayer

January 6th, 2008, 11:53 PM

The 'keep them in the casino as long as possible' gaming model is outdated. With all the increased competition from other states, A.C. is realizing it has to offer more. Vegas makes more money off non-gaming revenue and A.C. is just starting to realize/remember the potential it has just like the promoters did 100 years ago during A.C.'s golden age.

Fabrizio

January 7th, 2008, 04:09 AM

But I still have not seen it.

This thread is filled with visions of magnificent, completely self-contained resort complexes. Resort complexes that just happen to be placed on Absecon Island.

Please show me something about the CITY. Let's forget about casinos for a minute. How about a new art museum? A concert hall? A new esplanade? A new cool landmarked neighborhood? And gallery district? A new public park? Some city streets worth walking on just for the pleasure of it? A new transportation system? How about a magnificent master urban development plan?

30 years after casino gambling the CITY has "The Walk", it has a new facade program for the boardwalk, a few ok condos here and there, and a few more non-casino related locales (but not many considering the amount of people coming into AC)

What else?

---

MikeW

January 7th, 2008, 11:03 AM

You're statement about non-gaming revenue it completely correct, but that doesn't change the fact that the casinos don't want the customers leaving the property. They just don't care whether the money goes into a slot machine, across a blackjact table, across a bar (for a way overpriced drink, or better yet a full bottle), or for a check in a high end restaurant. They're happy just as long as the money stays on the property when the custoer leaves.

The 'keep them in the casino as long as possible' gaming model is outdated. With all the increased competition from other states, A.C. is realizing it has to offer more. Vegas makes more money off non-gaming revenue and A.C. is just starting to realize/remember the potential it has just like the promoters did 100 years ago during A.C.'s golden age.

MikeW

January 7th, 2008, 11:08 AM

But I still have not seen it.
What else?
---

Nothing. Atlantic City is someplace to be avoided on the way to the casinos that just happen to be in AC. It's kind of a shame, because it has a nice beach. But it's the same beach from the tip of Montauk to Cape May, so there are lots of beachy alternatives. Other than that, the city is pretty much a dump.

Fabrizio

January 7th, 2008, 11:23 AM

A lot of it is basically Camden-by-the-sea. It's funny how even some once viable neighborhoods, like the Chelsea section, have actually gone backwards in the last 30 years. With all of the money those casinos have generated over the decades, the city is a scandal.

http://www.flickr.com/photo_zoom.gne?id=1831604&size=l

--

MikeW

January 7th, 2008, 03:35 PM

AC is, in a nutshell, a case study in the pluses and minuses of casino gambling.

Everyone saw it as a panacea that would turn a dump of a collasped resort back into a vibrant viable city. It didn't, because the city itself was right as a $3 bill. Also, as stated above, casinos don't encourage their guests to frequent the local neighborhoods around them. They want their patrons in the resort. So they don't generate a lot of collateral development.

What it did generate was lots of jobs and lots of tax revenue, which is what casinos are good for.

giselehaslice

January 7th, 2008, 05:36 PM

all of these points are good points, but I have alot of faith that the actual city of Atlantic city will be on the rebound soon, epecially in the northeast inlet with all of the new projects in the pipline for that area (including the Revel resort.)

Also, the walk is expanding to the other side of the AC expressway enterance, so hopefully that will bring some more street life to that side of the city.

MikeW

January 7th, 2008, 05:40 PM

None of the new projects break the very self contained pattern of the old projects, so I don't see why anything much will change.

giselehaslice

January 7th, 2008, 07:11 PM

the walk is not self-contained whatsoever.

MikeW

January 8th, 2008, 10:03 AM

^
I was talking about Revel, Pinnicle, MGM, etc.

acplayer

January 8th, 2008, 10:03 PM

My suggestions to improve A.C. are: Let casino employees run for political office. These are the most qualified and educated people in the city yet they are banned from holding office (not like the current high school drop out Mayor Evans). Reduce the bloated government. They should extend 'The Walk' up Atlantic Ave with cops walking the street and offer the rebates and tax incentives to the little guys to attract more organic growth. Pacific and Atlantic Avenues should be as happening as the Strip. They should require the casinos to have ground level retail/restaurant space for their garages instead of the long blank walls to encourage street level activity. They should demolish all the housing projects & move them off shore to Pleasantville (A.C. had the 3rd largest number of subsidized housing in the entire U.S.A.). A tourist destination shouldn't have this. They should level the sand dunes so you can see the ocean from the boardwalk. I'll add more later.

Fabrizio

January 9th, 2008, 03:38 AM

Dream on.

And while we're at it: get that horrific Korean War monument OFF of the boardwalk.

Only in Atlantic City folks:

http://www.flickr.com/photos/iirraa/428804245/

http://www.flickr.com/photos/manung/369945693/

American Gaming Guru

January 9th, 2008, 10:16 AM

Bashaw-Barr investment group may make bid for Tropiciana

By DONALD WITTKOWSKI Staff Writer, 609-272-7258
Published: Wednesday, January 9, 2008
ATLANTIC CITY (http://www.inform.com/Atlantic+City) - An investment group headed by a New Jersey (http://www.inform.com/New+Jersey) real estate developer and a former top gaming executive has emerged as a potential buyer of the troubled Tropicana Casino and Resort (http://www.inform.com/Tropicana+Casino+%26+Resort).
Curtis Bashaw (http://www.inform.com/Curtis+Bashaw), a Cape May (http://www.inform.com/Cape+May) hotel owner and developer, confirmed that his group is looking at the Tropicana at the same time it is planning a new casino at the foot of the Route 40 entryway.
"Our group is a big believer in the Atlantic City marketplace," Bashaw said. "Obviously, a development as significant as the Tropicana is going to pique our interest."
Tropicana is now under the control of a state-appointed conservator, who is overseeing the forced sale of the property after its former owner, Columbia Sussex Corp. (http://www.inform.com/Columbia+Sussex+Corporation), was stripped of its license in December by the New Jersey Casino Control Commission (http://www.inform.com/New+Jersey+Casino+Control+Commission).
Conservator Gary S. Stein (http://www.inform.com/Gary+Stein) is expected to hire an investment banking firm this week to help him auction off a casino stung by mass layoffs, disastrous operating practices and unsanitary conditions under Columbia (http://www.inform.com/Columbia)'s 11-month reign.
Bashaw's casino investment group includes Wallace R. Barr (http://www.inform.com/Wallace+Barr), the former president and chief executive officer of gaming company Caesars Entertainment Inc. (http://www.inform.com/Caesars+Entertainment+Inc.) Barr, who lives in Linwood, left Caesars in 2005 after it was acquired by casino giant Harrah's Entertainment Inc. (http://www.inform.com/Harrah%27s+Entertainment+Inc.) in a $9 billion takeover. He walked away with a $26.6 million severance package, according to federal securities documents.
Bashaw owns Cape Advisors Inc. (http://www.inform.com/Cape+Advisors+Inc.), a private development company based in Cape May whose holdings include the resort town's historic Congress Hall and Virginia (http://www.inform.com/Virginia) hotels. From April 2004 to October 2005, he served as executive director of the Casino Reinvestment Development Authority (http://www.inform.com/Casino+Reinvestment+Development+Authority), a state agency that uses Atlantic City casino revenue for housing and economic development projects.
For Bashaw and Barr, Tropicana's sale presents an opportunity to own an existing casino while their group also possibly develops a brand new gaming property on Albany (http://www.inform.com/Albany) Avenue, at the base of the Route 40 corridor.
"We're going to stay in the loop of this process, gather all of the information and study our options," Bashaw said of Tropicana's sale.
Bashaw and Barr own casino-zoned oceanfront land acquired in 2006 from the Atlantic City Hilton Casino Resort (http://www.inform.com/Atlantic+City+Hilton). Their property includes the ill-fated Dunes casino site between Albany and Trenton Avenue, another beachfront tract between Albany and Hartford (http://www.inform.com/Hartford) avenues and adjacent land where the old Atlantic City High School (http://www.inform.com/Atlantic+City+High+School) once stood.
Bashaw and Barr have not yet revealed their plans for their casino, although private discussions continue with financial backers, designers and city officials. Bashaw declined to comment on reports that Wall Street (http://www.inform.com/Wall+Street) investment bank Goldman Sachs (http://www.inform.com/Goldman+Sachs+Group+Inc.) may provide financing for the project.
Separately, another investment group headed by Bashaw is transforming the old Holiday Inn (http://www.inform.com/Holiday+Inn+Hotels+%26+Resorts) and Howard Johnson hotels (http://www.inform.com/Howard+Johnson+International+Inc.) next to Tropicana into an upscale, boutique-style noncasino hotel called the Chelsea. The redeveloped hotel is expected to open on Memorial Day weekend after undergoing a $93 million makeover. Bashaw noted how close the Chelsea and Tropicana are located, suggesting that he could use both properties to benefit each other if he is able to acquire the Tropicana.
Based on indications from investment bankers, Stein, the conservator, said he expects more than 10 bidders to vie for Tropicana. The sale is expected to occur within four months.
"My goal is to sell this asset for the best possible price to a qualified bidder and make sure the process is evenhanded and pristine," Stein said in an interview last week.
Gaming analysts estimate Tropicana will fetch between $800 million and $1 billion. The buyer, however, likely will have to spend a few hundred million dollars more to upgrade the aging casino floor and hotel towers.
Among potential bidders, Connecticut (http://www.inform.com/Connecticut)'s Mohegan Sun Casino (http://www.inform.com/Mohegan+Sun+Casino) has publicly expressed interest in Tropicana. Other possible bidders include Pinnacle Entertainment Inc. (http://www.inform.com/Pinnacle+Entertainment+Inc.), Ameristar Casinos (http://www.inform.com/Ameristar+Casinos+Inc.), Penn National Gaming (http://www.inform.com/Penn+National+Gaming+Inc.), and Crown Ltd. (http://www.inform.com/Crown+Ltd.), a gaming company headed by billionaire James Packer (http://www.inform.com/James+Packer), Australia (http://www.inform.com/Australia)'s richest man, according to analysts.
One private group seen as a strong bidder is Gomes + Cordish Gaming Management LLC (http://www.inform.com/Cordish+Gaming+Management+LLC), a newly formed partnership between Dennis Gomes and Baltimore (http://www.inform.com/Baltimore)-based retail developer Cordish Co. (http://www.inform.com/The+Cordish+Company) Gomes (http://www.inform.com/Dennis+Gomes) was Tropicana's chief executive when it was formerly owned by Aztar Corp. (http://www.inform.com/Aztar+Corporation), while Cordish is the developer of an Atlantic City shopping and entertainment district known as The Walk.
To e-mail Donald Wittkowski (http://www.inform.com/Donald+Wittkowski) at The Press: DWittkowski@pressofac.com (DWittkowski@pressofac.com)

acplayer

January 13th, 2008, 06:18 PM

I agree Fabrizio. The Korean memorial is totally inappropriate in that spot and totally blocks the view of Brighton Park & the Claridge. What a total waste of money. A recent master plan for the boardwalk that wants to restore it to it's former successful look, will hopefully get rid of this.

In other news, Here's more MGM info. It should be awesome.

Ken Rosevear's next project, the MGM Grand Atlantic City Casino, could be his most ambitious yet.
By Suzette Parmley
Inquirer Staff Writer
LAS VEGAS - Ken Rosevear has spanned the globe in his many searches for the next casino hot spot.
And when he finds such a spot, MGM Mirage's president of development likes to go over the top. Way over the top.
"It's not just about building them and they will come," Rosevear said. "You have to build them beyond expectation."
He has developed 29 casinos worldwide. Among his credits: New York New York in Las Vegas, Monte Casino in Johannesburg, South Africa, and MGM Grand Macao in South China.
His next project, on a 72-acre parcel in Atlantic City's Marina District - the $5 billion MGM Grand Atlantic City Casino - could be his most ambitious.
"It must be a postcard," Rosevear said during a recent interview inside an executive conference room at the MGM-owned Bellagio that was papered with renderings of his new Atlantic City extravaganza.
His goal: "To make an iconic building that will be recognized as the new skyline of Atlantic City," he said.
For the first time publicly, Rosevear went into detail about what $5 billion affords.
He said the Atlantic City casino is on a similar scale with MGM's $7.8 billion CityCenter complex, which is under construction on the Las Vegas Strip, not too far from Rosevear's Bellagio office.
MGM Grand Atlantic City will be Y-shaped - like the Mirage, Mandalay Bay and Monte Carlo casinos in Las Vegas - a shape most noticeable in an aerial view.
It will incorporate design features of other Rosevear-developed casinos. For instance, the casino will have a circular floor plan - like his New York New York casino - to keep foot traffic moving.
The golden hues of the three towers will be graduated, the bands of color narrowing as they go up, "as if disappearing into the sky," Rosevear said. Just like the MGM Grand Macao.
But unique to MGM Grand Atlantic City will be a spa rising 450 feet above the ground that links all three towers. Rosevear said such a design "will allow people to walk to the spa directly from the towers." The spa will be two levels with a 360-degree view.
"The idea is to make MGM Grand Atlantic City three times bigger and make it taller, with a combination of permanent and moving shows . . . so that it's an ever-changing, must-see spectacle," he said. "To take it to a new level."
The opulence of MGM Grand Atlantic City and CityCenter speaks to the continuing strength of the casino industry and the unabated national and international spending sprees among some major U.S. gaming companies despite a gloomy economy.
Casino companies that were not acquired by private-equity firms in leveraged buyouts and had their balance sheets burdened with large amounts of debt "have a lot of capacity to develop in good markets where they find opportunity," said Andrew Zarnett of Deutsche Bank AG. "They are able to do $5-billion-type developments at the same time the economy is contracting or getting weaker."
Much of the cash for this came from foreign capital, which flooded into the United States because of the dollar's weakness, noted Adam Steinberg, a gaming analyst with Morgan Joseph & Co. Inc., of New York. The Bloomberg Gaming Industry Index, which measures the performance of casino company stocks, showed they gained nearly 7 percent in 2007, despite a steep November swoon. The S&P 500 index gained 3.5 percent for the year.
MGM Mirage is a major recipient of foreign investment. Dubai World - a holding company for the Persian Gulf state of Dubai that last year acquired department store Barneys New York Inc. from Jones Apparel Group Inc., of Bristol, Bucks County, for $825 million - is investing more than $5 billion in MGM Mirage.
In October, Dubai World acquired about $1.2 billion of MGM stock; in November, it paid $2.7 billion for a 50 percent stake in the CityCenter project; and in December, it acquired an additional five million shares of MGM stock for $424 million. And it plans to buy more.
The deal removed more than $3 billion in debt from MGM's books and will enable MGM to fully finance the $5 billion Atlantic City casino, which was announced Oct. 11, and forge ahead on other projects internationally, said chief financial officer Dan D'Arrigo.
"The deal really freed up our balance sheet to allow us to move forward in Atlantic City sooner than we would have been able to before," he said.
At least two more super casinos will be built in Atlantic City during the same time as the MGM casino.
Revel Entertainment Group L.L.C. is building a $2 billion casino on the Boardwalk, and Pinnacle Entertainment Inc., of Las Vegas, is developing a $1.5 billion one on the site of the former Sands Casino Hotel. Like MGM, each is targeting a 2012 opening. A fourth casino, by a private-investor group, has been proposed for the Boardwalk's southern end.
"The days of putting up boring-looking concrete buildings with big signs with big red letters are over," said David G. Schwartz, author of Roll the Bones: The History of Gambling and director of the Center for Gaming Research at the University of Nevada, Las Vegas. "People want the whole fantasy of gambling in a fantasy casino that does not look like an office building. They want to be in a high-class casino."
There is also another driving force.
"The new destinations in Atlantic City, as well as in Las Vegas, have to rise to a new level to attract a broad range of adults who are looking for a new experience," said Michael Pollock, publisher of Gaming Industry Observer and managing director of Spectrum Gaming Group L.L.C., of Linwood, N.J. "It's essentially the way to succeed in the market now."
That is Rosevear's game plan. He enlisted world-renown architect Kohn Pedersen Fox to carry out his vision. He described the new casino as being for everybody.
"This is a very large casino," Rosevear said. "It will be among the largest in the country, so you can't be too narrow in your demographic. That's why I've broken the casino into different areas."
One will be off the Race and Sports Book area; another will be more of a daytime casino; and a third section will feature entertainment with a nightclub.
The casino will have an indoor and outdoor pool, upscale retail and restaurants. The tallest tower - 800 feet - will be reserved strictly for V.I.P. guests and will be among the tallest buildings in New Jersey.
Rosevear has been making regular trips to Atlantic City since 1995, when he joined MGM from the former Caesars Entertainment Inc., and when MGM began assembling the 72-acre parcel.
He has 60 acres to work with initially. He said future expansion on the remaining 12 acres could be for residential, another hotel, condos, an entertainment arena, or more retail.
Gambling mogul Steve Wynn partnered with Boyd Gaming Corp., of Las Vegas, in May 1996 to develop the Borgata, near Harrah's and Trump Marina casinos, all in the Marina District. During the predevelopment phase, MGM bought Wynn's Mirage Resorts Inc. in May 2000, and MGM Mirage became Boyd's partner on the project. Instead of building a $750 million casino with 1,200 hotel rooms, they decided on a $1.1 billion Las Vegas-style mega-casino with 2,000 rooms.
"Great developers in the world have to take a little bit of a leap of faith that if they do something so spectacular, the market will respond," Rosevear said.
It clearly did. The vertical, golden-hued Borgata Hotel Casino & Spa debuted in July 2003 and has been Atlantic City's most profitable casino ever since.
"This clearly positions the Marina to compete favorably with other properties in Atlantic City as well as other emerging jurisdictions," said former Borgata chief executive officer Robert Boughner, on having MGM Grand move in next door. "We are delighted that it is now coming to fruition." The fortunes of the two casinos will literally be linked. MGM Grand will be connected to the Borgata by an enclosed walkway.

American Gaming Guru

January 15th, 2008, 10:27 AM

MGM MIRAGE Files CAFRA Application for MGM Grand Atlantic City Project
Tuesday January 15, 8:30 am ET
LAS VEGAS, Jan. 15 /PRNewswire-FirstCall/ -- MGM MIRAGE (NYSE: MGM (http://finance.yahoo.com/q?s=mgm&d=t) - News (http://finance.yahoo.com/q/h?s=mgm)) announced it has filed application with the New Jersey Department of Environmental Protection, Land Use Regulation Program for a Coastal Area Facility Review Act (CAFRA) permit for the Company's proposed MGM Grand Atlantic City project. Securing a CAFRA permit is one of the first requirements of all major New Jersey coastal area developments.
ADVERTISEMENT
MGM MIRAGE previously announced plans to develop a major resort casino project on a portion of a 72-acre parcel of land the Company owns in the Marina District of Atlantic City. The proposed project would be located adjacent to the Borgata, which is 50% owned by MGM MIRAGE with Boyd Gaming Corporation.
MGM Grand Atlantic City will consist of three separate hotel towers totaling 3,000 rooms and suites. Each tower will offer guests a distinctly different hotel experience, sharing the signature amenities of an MGM Grand resort, including the largest casino floor in Atlantic City with 5,000 slot machines, 200 table games and a large poker room; a variety of restaurant, nightclub and entertainment concepts; a spacious, world-class contemporary spa; a 500,000-square-foot retail experience and a modern and versatile convention center. The current project budget is $4.5-$5 billion range, not including value of the land and associated costs.
Approximately 60 acres of the site will be used for construction of MGM Grand Atlantic City, with 12 acres reserved for future development. The Company also owns an additional 14-acre site in the Marina District.
The CAFRA permit application and approval process can take up to several months. Ground breaking for construction of the MGM Grand Atlantic City is expected in 2008, with an anticipated opening in 2012.
These cost estimates and the design and scope of MGM Grand Atlantic City are preliminary and subject to change. Refer to the "Factors Affecting Future Results" section of the Company's 2006 Form 10-K for further risks relating to construction projects.
About MGM MIRAGE
MGM MIRAGE (NYSE: MGM (http://finance.yahoo.com/q?s=mgm&d=t) - News (http://finance.yahoo.com/q/h?s=mgm)), one of the world's leading and most respected development companies with significant holdings in gaming, hospitality and entertainment, owns and operates 17 properties located in Nevada, Mississippi and Michigan, and has 50% investments in four other properties in Nevada, New Jersey, Illinois and Macau. MGM MIRAGE is developing major casino and non-casino resorts, separately and with partners in Las Vegas, Atlantic City, the People's Republic of China and Abu Dhabi, U.A.E. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE has received numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs. For more information about MGM MIRAGE, please visit the company's website at http://www.mgmmirage.com (http://www.mgmmirage.com/).
Statements in this release which are not historical facts are "forward looking" statements and "safe harbor statements" Under the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including risks and/or uncertainties as described in the company's public filings with the Securities and Exchange Commission.

American Gaming Guru

January 16th, 2008, 04:55 PM

I was just listening to Pinky’s Corner and found out that MGM is now proposing a new AC Arena to be built across from the new casino to be linked via monorail. The property was long owned by Steve Wynn and folded into MGM when they purchased Mirage.

I believe that the site is appx. 15 acres and the area is supposed to seat appx. 12,000 people.

That’s all I know for now.

JCexpert558

January 16th, 2008, 06:04 PM

Will it house events like the alstar games, boxing matches, and concerts because I know AC does not have any major league teams. Also maybe if more celebirtys came here, then that would make other people want to come.

JCMAN320

January 19th, 2008, 07:37 PM

N.Y.-Atlantic City casino train service running behind schedule

By THOMAS BARLAS Staff Writer, 609-272-7201
Published: Thursday, January 17, 2008

ATLANTIC CITY - Plans for express rail service that will whisk gamblers between New York and Atlantic City at high speeds and in high style are crawling along slower than a rickety old freight train.

Originally scheduled to start in December, the Atlantic City Express service will not begin running until this summer, officials confirmed Thursday during a board meeting of NJ Transit, the state bus and rail agency.

NJ Transit is still negotiating key details of the agreements with the three casinos that are financing the weekend service, known by the gambling-friendly "ACE" moniker. Still to be determined is whether there will be one or more stops between New York and Atlantic City, NJ Transit Executive Director Richard Sarles said.

The Friday-Saturday-Sunday runs would bring casino visitors from Manhattan to the resort in well-appointed rail cars designed to get them in an Atlantic City state of mind. One issue still unresolved is the interior design of the trains, Sarles said.

Borgata Hotel Casino & Spa, Harrah's Atlantic City and Caesars Atlantic City formed the ACE partnership in 2006 to fund a weekend-only, dedicated line between New York and the gambling resort. NJ Transit and the Casino Reinvestment Development Authority, a state agency funded by gaming revenue, are also part of the operations.

The casinos will spend $15 million to buy eight bi-level, luxury rail cars and are splitting the $4 million in operating costs with the CRDA. The CRDA also will spend $4.5 million to lease three diesel locomotives during a three-year test run.

NJ Transit will operate the service. Sarles noted that locomotives are undergoing tests to prepare for the rail line's start-up, whenever that will be. Word that the service will not begin until this summer is the second delay announced in recent months. Acknowledging that the original December launch date would not be met, the casinos said in late October that they hoped to begin service in the spring.

A statement issued Thursday by the ACE partnership did not explain the reasons for the latest delay. It did note, though, that the casinos are still negotiating ticketing and reservation services with Amtrak, the national passenger rail line that controls the Northeast Corridor tracks serving New York.

"As we are currently in the development and planning stages for ACE, it is premature to discuss specific details regarding the train routes, ticket pricing and any other aspect involving the new service," the statement said.

Rob Stillwell, a spokesman for Boyd Gaming Corp., Borgata's parent company, said as far as he knows, there are no plans to kill the train service.

"It's not as if there's anything wrong. It's just taking a little longer than we thought," Stillwell said.

The Atlantic City-New York train trip would take about 2 hours and 40 minutes. Although fares have not been announced yet, early estimates suggest riders would pay about $100, a rate competitive with one-way ticket prices for Amtrak's high-speed Acela service between New York and Philadelphia.

Casino officials say the train service would target well-heeled New York City residents who enjoy visiting the gaming halls but want an easier way to get to and from Atlantic City than driving. The gaming industry is searching for new customers after suffering a 5.7 percent revenue drop in 2007, the first time in Atlantic City's 30-year history of casino gambling that the annual "win" has declined.

A dedicated rail line between Atlantic City and New York was tried before, but Amtrak ditched the six-year trial in 1995 after concluding the little-used "Gambler's Express" was a financial failure.

To e-mail Donald Wittkowski at The Press:

DWittkowski@pressofac.com

To e-mail Thomas Barlas at The Press:

MikeW

January 24th, 2008, 10:23 AM

I'm not particularly impressed. I can get to the Borgata, garage to garage, in two hours. Between the half a tank of a gas and tolls, the round trip is half what they'll want for the fair.

I don't think this will be too successful. It to slow to get the drivers out of their cars, and too expensive to the carless out of the busses.

MikeW

January 28th, 2008, 02:09 PM

More on the new AC development projects:

http://www.lasvegassun.com/news/2008/jan/28/look-out-here-comes-atlantic-citys-transformation/

acplayer

February 6th, 2008, 01:25 AM

Nongaming, luxury hotel for A.C.

Chelsea, a blend of two hotel-chain buildings in the old style of the Shore-resort era of '60s, debuts this summer.

By Suzette Parmley
Inquirer Staff Writer
Once upon a time, Atlantic City called itself the Queen of Resorts. It had no casinos, slot machines or table games.
That is the Atlantic City of the 1950s and '60s that Cape Advisors Inc. and Normandy Real Estate Partners L.L.C. envisioned when they set out to convert two old hotels into the Chelsea - the first luxury, nongaming hotel on the Boardwalk since the early 1960s.
"This is for the casual gamer," said Curtis Bashaw, a co-chief executive officer at Cape Advisors. "It will be your home in Atlantic City with everything you need and still a stone's throw away from any casino."
The partnership between Cape Advisors and Normandy, of Morristown, N.J., bought the Holiday Inn and Howard Johnson Hotel in the fall of 2005 for $36 million.
The partnership took ownership of the hotels last January and operated them as they existed until Labor Day. It was during this time that they developed the design for the Chelsea that would combine the two properties.
David Welsh, founding managing principal of Normandy, said his firm was "very bullish on Atlantic City's future, and we are very excited to be part of the city's renaissance."
The older of the two hotels, the Howard Johnson, had been at its location since the 1950s and retained the vernacular, with stainless-steel trimming and quirky balcony railings. The Holiday Inn was built in the 1980s, "a plain-vanilla building with very sturdy bones," Bashaw said.
The Chelsea's look was influenced by the Howard Johnson to emanate old Hollywood glamour, he said, and to re-emphasize the old Shore-resort era.
The Chelsea will begin taking reservations next month for its 330 rooms and 12 suites that offer sweeping ocean and bay views, and debuts to the public Memorial Day weekend.
Prices will range from $95 to $275 a night during the off-peak season, or $225 to $450 a night during the peak summer season. Bashaw's sister, Colleen, designed the interior of the Chelsea, revealed yesterday for the first time.
There will be a 15,000- square-foot rooftop swimming pool area with private cabanas; a 6,500-square-foot luxury spa; and a fifth-floor social area - the Terrace Lounge - with a bar, game room and living room.
Philadelphia-based restaurateur Stephen Starr will manage all food and beverage at the property, including room service. There are two Starr restaurants - Teplitzky's, a diner on the ground floor, and Chelsea Prime, an upscale steakhouse on the fifth floor, which has the feel of a supper club of the 1960s.
"There is a niche opportunity for a property like this to attract the type of customer that is looking for the quality and performance of a five-star hotel without the mass-market crowds of a large casino," Andrew Zarnett, a gambling and hotel industry analyst with Deutsche Bank AG in New York, said of the Chelsea.
Bashaw, a former executive director of the Casino Reinvestment Development Authority - the state agency that uses gambling proceeds for redevelopment projects - said his grandparents always talked about the heyday of Atlantic City as a resort with beautiful hotels. They took him on trips there as a child.
Bashaw said the plan all along was to develop the Chelsea as a hotel, because the old Howard Johnson and Holiday Inn had combined rooms of only 337. Under New Jersey law, a casino has to have at least a 500-room hotel.
Bashaw, 47, is developing a $1-billion-plus casino on the southern end of the Boardwalk next to the Atlantic City Hilton with a local investor group that includes former casino executive Wally Barr. His group closed on that 11-acre parcel in November 2006.
The Chelsea is next to the Tropicana Casino & Resort, which is seeking a new buyer after its former owner was denied license renewal in December. Bashaw said his casino investor group might bid on the Tropicana.
The Chelsea is adding to a current hotel boom as Atlantic City continues to morph into an overnight destination to attract a younger, more affluent crowd.
But the upstart may be competing with many other hotels targeting tourists across the region.
Three Atlantic City casinos - Harrah's Marina, the Borgata and Trump Taj Mahal - will be adding 2,547 rooms this year, adding to the current inventory of 14,575 rooms, according to data from the New Jersey Casino Control Commission.
In Philadelphia, there are 10,224 hotel rooms, according to the Greater Philadelphia Hotel Association, which represents 87 hotels throughout the Philadelphia area. More than 2,000 rooms are on the way, spurred by the $700 million Convention Center expansion.
"The development of the hospitality industry in Atlantic City is important to Philadelphia, because when people decide to come here, they'll come with Atlantic City in mind," said Ed Grose, executive director of the Philadelphia group. "With gaming coming in, we're hoping to keep a lot of that money in the Greater Philadelphia area."
Voters amended New Jersey's Constitution in 1976 to allow casinos only in Atlantic City. Resorts International, the town's first casino, opened its doors May 26, 1978.
"A lot of the gaming products in Atlantic City are reserved for the casino-rated player," Bashaw said, referring to the level of slots and table-game play among casino customers. "If you're not one at Harrah's or Borgata, it's not easy to get a room."

American Gaming Guru

February 6th, 2008, 04:09 PM

Thanks for the article AC Player. This project is simply awesome and will help take AC to the next level!

Here is some other good news:

New casino gets final approval to continue construction
Published: Wednesday, February 6, 2008
ATLANTIC CITY (http://www.inform.com/Atlantic+City) – The city's Planning Board granted Revel Entertainment (http://www.inform.com/Revel+Entertainment+Group+LLC) final site approval at a meeting Wednesday morning, allowing the company to begin building beyond the foundation of its $2 billion casino project near the Showboat Casino Hotel (http://www.inform.com/Showboat+Atlantic+City) at the north end of the Boardwalk.
The board voted unanimously for the approval after Revel attorneys and officials spoke to some of the board's concerns originally addressed when the company was given preliminary site approval on Nov. 7, including roof top treatment and Boardwalk lighting.
Construction crews have been working at the South Inlet (http://www.inform.com/South+Inlet) site for weeks, primarily on foundation, including securing 50 percent of the foundation for the casino's parking garage, according to Revel attorney Nicholas Talvacchia (http://www.inform.com/Nicholas+Talvacchia).
The board's approval allows the project to continue to push forward, permitting builders to begin working above ground in the next 60 days, Talvacchia said.

voodoochild

February 9th, 2008, 09:44 AM

I have to say, back in the day Atlantic City was disgusting. Now it is really becoming cool and attractive to the young crowd. I used to think Vegas was the place to be but just getting back from there a few weeks ago, I have to say AC is rising. Sure it is surrounded by run down, crime ridden neighborhoods but once you leave the strip in Vegas.....it's not safe either. I got lost there once and OMG..not good. Anywhere you have 24hr alcohol and gambling you will have low lives and crime, that's just how it is.

acplayer

February 9th, 2008, 12:44 PM

A.C. has tons of potential.

ATLANTIC CITY, NJ— A $300-million, 650,000-square-foot mixed-use project that will feature about 300 hotel rooms and 100 for-sale condominiums is now in the works here. Carlton Hospitality Group has been appointed as the exclusive equity, debt and hospitality advisor for the project by the undisclosed East Coast developer.
In this advisory role, Carlton could handle the potential sale of the site or the completed high-rise project, which could eventually turn into a one-million-square-foot development.

Carlton’s work on this project includes advising the developer on brand selection and management negotiations as well as placing of debt or equity.

giselehaslice

February 10th, 2008, 11:03 AM

^ What development may that be? I was thinking maybe it was the Prasada by DeGeorge Atlantic on the boardwalk, but I am definatley not sure....
www.digeorgeatlantic.com (http://www.digeorgeatlantic.com)

acplayer

February 10th, 2008, 12:50 PM

It sounds like the Prasada but the article didn't give any more info than what I posted. I really hope some of these non-casino hotel/condo highrises get built.

American Gaming Guru

February 10th, 2008, 04:32 PM

Yes. Pretty vague.

giselehaslice

February 14th, 2008, 03:32 PM

FINALLY the chelsea has updated their website...it looks like it is going to be an OUTSTANDING resort!

www.thechelsea-ac.com (http://www.thechelsea-ac.com)

American Gaming Guru

February 19th, 2008, 12:17 PM

Wow! This place is going to be outstanding. I just booked my first stay!

giselehaslice

February 19th, 2008, 03:54 PM

^Lucky You!
When are you going to stay? and please make sure to post pix (even tho its probably at least 4 months from now)..

American Gaming Guru

February 19th, 2008, 05:54 PM

I booked the 1st weekend that they are allowing at this point (Friday August 1st-Sunday August 3rd).

I will attempt to post pics. I have not had luck in the past.

acplayer

February 21st, 2008, 11:12 PM

The Chelsea looks awesome. Here's some more good news regarding a major Vegas player.

Mandalay Bay chief to lead $5B Atlantic City project

by The Associated Press Thursday February 21, 2008, 2:34 PM

The president of the Mandalay Bay Resort in Las Vegas will oversee MGM Grand's massive $5 billion casino-hotel project in Atlantic City.
The company announced this morning that Bill Hornbuckle, Mandalay's president and chief operating officer, also will serve in the same capacity for MGM Grand Atlantic City, a three-tower complex to be built on land next to the Borgata Hotel Casino & Spa in the city's Marina district.
It is due to open in the first quarter of 2012.
"We are going to be taking what the Borgata has done in terms of recreating the Las Vegas experience, and take it to a whole different place," Hornbuckle said. "We want this to be compelling enough for you to get on a plane in Chicago and fly east instead of west."
A 25-year veteran of the gambling industry, Hornbuckle previously served as president and COO of MGM Mirage Europe, after spending three years as president and COO of MGM Grand Las Vegas.
He previously worked as president and COO for Caesars Palace in Las Vegas, as well as several other casinos.
MGM Grand Atlantic City will be the largest hotel and the largest casino in Atlantic City with 3,000 rooms. A groundbreaking is expected later this year.
The company has applied for state environmental permits, and Hornbuckle said MGM has received encouragement "from the mayor's office right up to the governor's office."
The project will include a spa suspended 50 floors in the air with panoramic ocean views, a concert arena, 150,000 square feet of convention and meeting space, a parking garage for about 11,000 cars, and "a couple dozen" restaurants, Hornbuckle said.
MGM is also a co-owner, with Boyd Gaming, of the Borgata -- a partnership that will continue even after MGM Grand Atlantic City is open, he added.

American Gaming Guru

February 22nd, 2008, 05:18 PM

I saw this too.

Hornbuckle sounds a little like Bob Boughner (the guy who built Borgata) in the respect that he started at the very bottom and worked his way to the top "he humbly began his Las Vegas career in 1978, working as a room service bus boy at the Jockey Club timeshare development."

That is exactly the kind of person one should want overseeing the place. Bob knew exactly what he was doing with Borgata and hopefully so will Bill Hornbuckle with MGM Grand.

I am glad that MGM is finally stepping up to the plate!

American Gaming Guru

February 26th, 2008, 06:00 PM

While this is a set-back. Dan Lee is probably right in waiting:

Boss says Pinnacle may abandon $2B Atlantic City project

by The Associated Press Tuesday February 26, 2008, 12:38 PM

The chairman of Pinnacle Entertainment said today the company may abandon its $2 billion mega-casino project on the Boardwalk if credit markets don't improve.
While stressing that the company still expects lending conditions to improve before the anticipated ground breaking in late 2009, chairman and CEO Daniel Lee said Pinnacle could conceivably scrap the project if funding remains difficult for an extended time.
"I've been asked, 'How the hell are you going to build in Atlantic City?'" Lee said on a conference call to discuss the company's year-end earnings. "The answer is if credit markets don't improve, we won't build. We're not going to go broke building in Atlantic City."
However, Lee said he fully expects markets to improve long before the point where a decision on whether to scrap the Atlantic City project becomes necessary.
"I'm confident the credit markets will improve before the architects are done designing the building," he said.
Pinnacle bought the former Sands Hotel Casino and demolished it last October to make way for a large casino-hotel project on the Boardwalk. The as-yet unnamed project is still in the design stage.
"We're still at the point of compiling our dreams of what can go into that property, and they're pretty big," Lee said. "It's a big part of this company's future."
Even if markets don't improve quickly, Lee said the company could wait awhile to begin the Atlantic City project.
"We don't have a gun to our heads," he said.
Steve Capp, Pinnacle's chief financial officer, also said he expects credit markets to come back "as they have cyclically in the past."
But Lee added, "The credit market is essentially closed. We have competitors with half-built buildings that they can't finish. We have a policy of not starting something unless we're relatively sure we have the money to finish it."
Should the markets not rebound, he said, "The whole question of if and when you're going to build in Atlantic City is going to become moot."
Lee said Pinnacle's land in Atlantic City is not for sale, and that there are no plans to put it on the market. But if that became necessary, he said, the proceeds from a sale could help fund other Pinnacle projects elsewhere in the country.
He also said the company would look into taking on a partner for projects including Atlantic City if it became necessary.
Pinnacle most recently opened Lumiere Place, a casino-hotel in St. Louis, in December.
It also owns casinos in Nevada, Louisiana, Indiana, Argentina and the Bahamas.

giselehaslice

February 26th, 2008, 08:53 PM

This isnt necessarily bad news for AC. Many people doubted Pinnacle's presence in AC, saying they are just there to sit on the land and make some money off of it.

If they do "abandon" plans they may or may not have had, they will probably sell the land for a very expensive price, letting another more established and prestigious gaming company come to the site and probably build something alot better then pinnacle cold have. I see that site as being a great location for a Mandalay Bay Atlantic City or maybe another Wynn concept.

66nexus

February 27th, 2008, 12:09 PM

If the Boardwalk doesn't step-up the projects than the Marina district will truly overtake it as the 'premiere' section of AC.

Most people who go to Vegas never leave the strip (which isn't even all in Vegas). The tourists barely go to downtown Vegas, which still has casinos but nothing like the megaresorts the Strip has.

Take Borgata, nothing like it in all of AC, it's in the Marina District. With MGM Atlantic City, and Borgata's and Harrah's expansion tourists may find themselves never leaving the Marina District:(

American Gaming Guru

February 27th, 2008, 12:50 PM

Agreed on the subject of Marina vs. Boardwalk. I always stay at Borgata and head over to the boardwalk to shop at The Pier and go to the beach in the summer. I believe that Revel is attempting to integrate all (Borgata-like design and feel, high end shopping and restaurants and THE BEACH!).

Now, in defense of Pinnacle, it looks to me that many people in AC are either misinformed or maybe biased because their name is not MGM or Wynn (giselehaslice, I am not singling you out. I have seen this repeatedly in The Press). Let’s not forget that no one ever heard about Boyd before they came to AC either. I stated on another blog that Pinnacle is very comparable to Boyd in that that they do own and operate “grind-joints” but unlike Boyd (before they came to AC), Pinnacle has already established much success in repositioning its company into a well-respected global gaming company that is now known as a developer of market-leading resorts. I have been to all of their properties including their recently opened Lumiere Place in St. Louis. Lumiere along with L’Auberge du Lac and Belterra are simply stunning and wildly successful thus far. So it is wrong to assume that Pinnacle in not experienced in developing what they have envisioned for AC.

Second, Dan Lee was largely responsible for the success of Mirage Resorts! He was the CEO following a successful gaming banking career at Drexel. He left Mirage after a blow-up with Wynn and guess what, Lee was right that Wynn was over-spending that led to the devaluation of Mirage stock and thus opened it up to a take-over by MGM.

Pinnacle is fully committed to entering AC. They tried to buy Aztar and have made a tremendous investment in AC thus far without even a shovel in the ground. Dan Lee and Pinnacle are playing their cards right and they should not be ridiculed for it. The stock has been up significantly since they have discussed this, so it appears that Wall Street agrees.

My bet is that Pinnacle builds!

blackdragon905

February 27th, 2008, 04:59 PM

I was just curious, how many acres has Pinnacle actually acquired at the moment and how many more they intend on acquiring and how many acres Revel is going to be built on (i think 20)? Thanks.

American Gaming Guru

February 29th, 2008, 06:25 PM

I am not sure how much Revel owns now, but I believe that the original site was appx. 20 acres.

Pinnacle was about 18 (I think if you include the post office).

I do not have knowledge as to what land they continue to buy.

STT757

March 2nd, 2008, 11:13 AM

giselehaslice

March 3rd, 2008, 02:48 PM

great article on the new Digeorge AC development "The prasada"

http://www.pressofatlanticcity.com/186/story/96744.html

MikeW

March 3rd, 2008, 04:54 PM

March 3, 2008

Snake Eyes: AC's Hot Hand May Be Cooling

By THE ASSOCIATED PRESS
Filed at 2:37 a.m. ET
ATLANTIC CITY, N.J. (AP) -- Unlike gamblers on a hot streak who think the good times will never end, the casinos know better. Yet companies have forged on with plans to spend at least $9 billion on a wave of new casino projects in the country's second-largest gambling destination, even as not-so-subtle signs were surfacing that it might be time to walk away from the table for a while.
Last week's announcement by Pinnacle Entertainment (http://www.nytimes.com/mem/MWredirect.html?MW=http://custom.marketwatch.com/custom/nyt-com/html-companyprofile.asp&symb=PNK) that it may scrap a mega-casino plan worth as much as $2 billion if credit markets don't improve has made the city's casino industry nervous.
''It's a very serious issue right now,'' said Nick Danna, a senior equity analyst at Sterne Agee & Leach. In the present environment, he added, ''Companies simply can't justify embarking on these projects.''
Deutsche Bank (http://topics.nytimes.com/top/news/business/companies/deutsche_bank_ag/index.html?inline=nyt-org) analyst Andrew Zarnett agreed.
''The credit markets are temporarily closed,'' he said. ''That doesn't mean you can't raise money if you're willing to pay a very high rate of interest. But on anything at a reasonable rate, now wouldn't be the time. That type of deal just isn't getting done right now.''
Danna, Zarnett and Pinnacle chairman Dan Lee all expect the credit climate to improve before too long. But the current crunch is raising questions about whether Atlantic City's expansions plans are too much, too fast.
Gov. Jon S. Corzine (http://topics.nytimes.com/top/reference/timestopics/people/c/jon_s_corzine/index.html?inline=nyt-per) used to make exactly these types of financing decisions as chairman of Goldman Sachs (http://topics.nytimes.com/top/news/business/companies/goldman_sachs_group_inc/index.html?inline=nyt-org). Corzine, who helped Lee push the plunger that blew up the old Sands Casino Hotel last October to clear the site for Pinnacle's project, expects things will be fine in the long run.
''Long-term investment decisions are rarely, if ever, made on the basis of short-term capital market conditions,'' Corzine said in an e-mail to The Associated Press. ''We understand that today's markets are not receptive to heavily leveraged projects, such as new casinos, but we expect that appropriately structured and exciting projects, such as the Pinnacle casino, will proceed when conditions improve.''
Pinnacle's warning shouldn't have come as that great a surprise.
In late 2006, the first slots parlors opened in the Philadelphia suburbs and immediately started stealing away some of Atlantic City's most profitable and reliable customers. As a result, 2007 was the first year in the 30-year history of casino gambling in New Jersey that revenues were lower than the year before, falling 5.7 percent; only three of Atlantic City's 11 casinos reported increases for the year.
Last April, a tough new law took effect limiting smoking to no more than 25 percent of the casino floor, further alienating some gamblers.
And last month, the Atlantic City Hilton Casino Resort, which had floated plans for a $1 billion expansion to help it compete with newer, larger casinos, quietly scrapped the plan, citing the declining economy.
''There's no question these are challenging times,'' said Keith Smith, president of Boyd Gaming Corp. (http://www.nytimes.com/mem/MWredirect.html?MW=http://custom.marketwatch.com/custom/nyt-com/html-companyprofile.asp&symb=BYD), which owns the Borgata Hotel Casino & Spa, Atlantic City's most successful gambling hall.
Joseph Corbo, president of the Casino Association of New Jersey, said the credit crisis is something the casinos can't control. That makes it imperative for city and state officials to keep the things they can control working in favor of a stable environment in Atlantic City, he said.
''If we fail to do this, prospective investors may seek jurisdictions other than New Jersey to invest, both in the near term as well as when the credit markets improve,'' Corbo said. Unlike when casinos first opened here in 1978 as the only alternative to Las Vegas, companies now have options including the Gulf Coast, Pennsylvania, along the Mississippi River and in several other states.
The most ambitious plan for Atlantic City is MGM Mirage's (http://www.nytimes.com/mem/MWredirect.html?MW=http://custom.marketwatch.com/custom/nyt-com/html-companyprofile.asp&symb=MGM) $5 billion hotel-casino, which the company insists is still on track for a groundbreaking early next year. Alan Feldman, a senior vice president, said MGM still has plenty of spending room left under its bank loans and no major capital spending commitments over the next few years, and it generates significant cash flow from its properties elsewhere.
Revel Entertainment has already begun preliminary construction on a $2 billion Boardwalk casino next to the Showboat Casino Hotel. Revel is seen by several analysts as being in an interesting situation: more vulnerable to market forces because Atlantic City is the only casino project it has, yet less likely to walk away from it because Revel already has pilings in the ground.
Revel CEO Kevin DeSanctis did not return messages seeking comment.
Zarnett said many of the proposed projects are in the planning stages; the time to line up serious financing will come when they're closer to starting construction in earnest.
''We've had these crises before, and they get resolved,'' he said. ''The weaker projects get winnowed out and the better deals rise to the top and get financed.''

giselehaslice

March 3rd, 2008, 08:29 PM

^ yeah I definatley wouldnt call Pinnacle's backing out a cooling on development in AC. Dont forget that Revel is still being built, MGM is still in track, water club is still gonna open, and theres alot of other stuff still on the boards. If every single one of these projects were cancelled, then you could say that the AC market has cooled. Vegas doesnt build every casino that is proposed either you know (i am talking to the writer of the article above.)

JCMAN320

March 3rd, 2008, 10:57 PM

N.J. strikes deal with casinos to subsidize horse racing

by Maura McDermott/The Star-Ledger Monday March 03, 2008, 7:43 PM

The casino industry will pay $90 million to keep New Jersey's horse-racing industry alive for the next three years, Gov. Jon Corzine said today.

In exchange, the state has agreed not to allow video lottery terminals at the racetracks during that time, the governor said in a statement. Legislation to approve the agreement is expected to be introduced soon.

"Both the equine industry and the casino industry play important roles in New Jersey, from preserving open space to attracting visitors, and it was essential to strike a balance that will allow both industries to thrive," Corzine said in the statement. "The agreement involves no taxpayer dollars and will not reduce casino funds that flow to the state."

The deal took months of negotiations with state legislators and the casino industry, according to the governor. Those legislators included Assembly Speaker Joseph Roberts (D-Camden), Sen. President Richard Codey (D-Essex), Sen. Jim Whelan (D-Atlantic) and Assemblyman John Burzichelli (D-Gloucester).

The funds provided by the casinos will supplement racetrack purses, the prizes paid to horses, and will support horse-breeding programs, according to the governor.

But casino officials said tonight they were taken by surprise by the announcement. Several said it was made prematurely, and they were still hammering out details. Joe Corbo, president of the Casino Association, said "We believe we have a deal in principle with the details still to be worked out."

Whelan said while the bill may not be perfect, "at some point you have to go ahead."

"This thing was close enough as of 4 o'clock today, that I can't imagine it falling apart," he said. "At some point we've got to move ahead here and get the bill listed and get it in front of a committee and get it through a process."

The New Jersey Sports and Exposition Authority has spent $4 million to supplement purses at the Meadowlands Racetrack since the most recent casino subsidy deal expired Dec. 31, said Dennis Robinson, chief executive of the state agency that runs the track.

Under the previous deal, the casinos paid $86 million over four years to subsidize purses. Racetrack operators have been lobbying the state to allow electronic gambling machines at tracks, arguing they are losing patrons to so-called racinos in neighboring states such as New York and Pennsylvania.

The casino industry has been subsidizing the purses in exchange for agreements not to install the gambling machines at the tracks.

"Not getting the supplement would have been devastating to the industry," Robinson said. "We really appreciate the tireless efforts of the governor and his staff to bring this purse supplement home, and we look forward to working with the racing industry and the governor's office on a long-term solution to ensure we stabilize the racing industry."

New Jersey's horse-racing industry employs nearly 4,000 people either directly or indirectly, according to a study by the Rutgers Equine Science Center.

blackdragon905

March 3rd, 2008, 11:10 PM

according to vegastodayandtomorrow.com, Pinnacle has canceled its 850 million dollar hotel/condo plans in Las Vegas, due to lack of sales. If Pinnacle really does withdraw from Atlantic City (although i still have a gut feeling they will build), I would just like to see what the design would have looked like, instead of the project being so "classified." Its kinda annoying.

Fabrizio

March 4th, 2008, 02:28 AM

Took my Wife to Bobby Flays at the Borgata last night, the Southwestern steak was the best steak I've ever had. I was disapointed in the Lobster/Advacado appetizer, the tower of Crab at Old Homestead is better. Still great experience last night, real good wine list.

Glad you had a good time. I bet you took the highway in to the underground parking.... elevator up to the hotel. Afterwards: elevator down and highway out of town...

never actually setting foot in Atlantic City.

giselehaslice

March 4th, 2008, 09:30 AM

^wow, you must be one of the most stubborn people on this thread.

MikeW

March 4th, 2008, 11:46 AM

That's the normal agenda for an AC trip. I don't know too many people (meaning no one) who goes down there to interact with the city.

Glad you had a good time. I bet you took the highway in to the underground parking.... elevator up to the hotel. Afterwards: elevator down and highway out of town...

never actually setting foot in Atlantic City.

American Gaming Guru

March 4th, 2008, 01:55 PM

Pinnacle Entertainment has no affiliation with the Pinnacle Condo development in Las Vegas. Pinnacle is a very financially sound and successful casino resort company.

Also, I don’t believe that interest in AC has cooled at all. The credit markets have which is preventing Pinnacle from going ahead wiht their resort there. Nothing wrong with that. They are smart in their decison to postpone. As I have previously stated, I believe that they are in it for the long haul.

I was down in AC over the weekend. Here is another tidbit. Remember the planned Victoria tower condo development (Pic below)? It looks like Revel has bought the land from the developers and now this proposal is DEAD. It looks to me that Revel is fast assembling another casino parcel just north of their own site. I know many people in town are calling the area the last great boardwalk casino site. Very interesting!

http://www.globest.com/newspics/nej_victoriatower.jpg

giselehaslice

March 4th, 2008, 02:58 PM

Interesting news, AmericanGamingGuru. How did you come to learn of Revel buying the Vistoria tower site? And what do they plan to do with the land? Expansion for Revel, or another casino altogether?

American Gaming Guru

March 4th, 2008, 04:23 PM

If you snoop around the Revel project, there are a number of large lots fenced in with temporary plastic Orange fencing. The type you often see around construction projects. One lot is where Victoria Tower was supposed to be.

A prominent developer in the area confirmed my suspicions (so it is all hear-say) that they have been purchasing more property (including the Victoria Tower property). My guess is that it is for future expansion or a future resort. There are still too many independently owned lots in the area to really develop a full resort in its place. But over time, if they assemble enough land in that area, it can make another attractive casino resort site.

American Gaming Guru

March 4th, 2008, 04:31 PM

SoHo Meets HoJo in Atlantic City
http://graphics8.nytimes.com/images/2008/03/02/fashion/02atla600.1.jpg Shiho Fukada for The New York Times
NO ENTRY A doorman screens the downtown club and may soon work the Boardwalk.

Multimedia
http://graphics8.nytimes.com/images/multimedia/icons/audio_icon.gif New Yorkers discuss their attraction to Atlantic City; introduction by Allen Salkin. (mp3 (http://graphics8.nytimes.com/audiosrc/fashion/AC.edit1.mp3))

Enlarge This Image (javascript:pop_me_up2('http://www.nytimes.com/imagepages/2008/03/02/fashion/02atlantic.2.ready.html', '02atlantic_2_ready', 'width=720,height=600,scrollbars=yes,toolbars=no,r esizable=yes'))
http://graphics8.nytimes.com/images/2008/03/02/fashion/02atla190.2.jpg (javascript:pop_me_up2('http://www.nytimes.com/imagepages/2008/03/02/fashion/02atlantic.2.ready.html', '02atlantic_2_ready', 'width=720,height=600,scrollbars=yes,toolbars=no,r esizable=yes'))Joseph J. Delconzo for The New York Times
PROPER ATTIRE REQUIRED The site of the Chelsea hotel, which is scheduled to open after Memorial Day.

Curtis Bashaw, the developer of a project combining a rundown former Howard Johnson and a Holiday Inn into a boutique hotel named the Chelsea, has tapped the operators of the exclusive Manhattan nightclub du jour, the Beatrice Inn, to oversee the new hotel’s night-life offerings.
“It will be SoHo House-y,” Mr. Bashaw said last week. “All on the fifth floor, you’ll have a library, a game room, an oval-shaped bar and a Stephen Starr restaurant, which connect like a big house and spill out onto an enormous pool deck.”
While overnight guests at the Chelsea will be welcome to roam at will around the fifth floor, there will also be a street entrance with doormen eyeballing nonguests hoping to pay their way into the party.
Will the doormen turn away people deemed unhip based on their clothes, haircuts or demeanor, just as Angelo, the doorman at the Beatrice in Greenwich Village, does nightly?
“We hope so,” Mr. Bashaw said by telephone from Cape May, N.J., where he has developed three hotels. Atlantic City, gritty and rundown on nearly every block where the casinos are not, is not yet the East Coast Las Vegas it was supposed to become when gambling was legalized in 1976, but investors like Mr. Bashaw believe that a wave of what they say are hipster amenities will draw the same kind of young urbanites who have adopted Nevada’s Sin City as the in-place to roll.
Scheduled to make their debuts this year are an express train from Penn Station with casino-designed club cars; a 44-story waterfront tower with a glass-domed tropical oasis at Harrah’s; and a $400-million tower addition with a 400-jet Jacuzzi at the Borgata, the hotel that pioneered a more upscale Atlantic City when it opened in 2003.
It’s enough to make a tourism official croon.
“The New York hipsters are coming to Atlantic City,” said Jeffrey Vasser, executive director of the Atlantic City Convention and Visitors Authority.
Not all of those hipsters have received word about the new Atlantic City.
“Atlantic City is one of the most disgusting places in the world,” said Sean Kalish, a 26-year-old lawyer who visits the casinos to play poker. He was standing in a slender peacoat waiting for the Atlantic City bus at the Port Authority Bus Terminal on Wednesday. “It’s like Las Vegas got drunk and slept with South Jersey and this is their bastard child.”
Never mind the old perceptions, say Mr. Vasser and other Atlantic City advocates. They continue to adhere to a philosophy that if you build the right hotel — and add a celebrity D.J. spinning dance music (http://travel.nytimes.com/travel/guides/music/overview.html?inline=nyt-classifier) — the stylish classes will come.
“We believe there is this under-served market of people who have said ‘Atlantic City, it’s a write-off,’ ” said Mr. Bashaw, who with a partner, Craig Wood, is also involved in turning the former Bulova watch-case factory on Long Island into condominiums and opening a spinoff of Hollywood’s Mondrian hotel in SoHo. “We are introducing to Atlantic City the first cool hotel product that’s been opened there in dozens and dozens of years.”
The Chelsea, which will have no casino, plans to open after Memorial Day, offering deluxe rooms in the old Holiday Inn tower and a class of “lite” rooms for around $200 a night.
There will be cushioned chairs on the beach with waiters shuttling food and cocktails across the Boardwalk.
While the deal with Paul Sevigny and Matt Abramcyk, the operators of the Beatrice Inn, is set to be completed Tuesday and could still fall through, the Chelsea’s operators envision the two men booking D.J.s, making a menu of specialty cocktails and bringing “a vibe,” said Liv Odegard, a spokeswoman for the Chelsea. Mr. Sevigny, the brother of the actress Chloë Sevigny (http://topics.nytimes.com/top/reference/timestopics/people/s/chloe_sevigny/index.html?inline=nyt-per), was out of the country and unavailable for comment last week, and Mr. Abramcyk said he did not want to speak about the project until all details were in place.
“They are going to be in charge of celebrity wrangling, including bringing Paul’s sister’s friends down,” Ms. Odegard said. “At the Beatrice, it was Heath Ledger (http://topics.nytimes.com/top/reference/timestopics/people/l/heath_ledger/index.html?inline=nyt-per) before he died, Adrian Grenier, Mary-Kate and Ashley and everyone who walks in from the Waverly Inn.”
It’s not impossible to imagine the cachet of the Beatrice luring some fashionable people to Atlantic City, said Jesper Lannung, founder of Modelshotel.com (http://modelshotel.com/), a social networking Web site. He has frequented the Beatrice, but was not impressed by his one visit to Atlantic City to gamble.
“I don’t find it too attractive of an area,” he said. “But the demographic going to a location could change depending on the venues and the type of people that are attracted to those venues, even in Atlantic City.”
In recent years, the addition of the Borgata with a top-flight spa (http://travel.nytimes.com/travel/guides/spas/overview.html?inline=nyt-classifier) and well-reviewed restaurants; a group of nightclubs at the Quarter in the Tropicana; and shopping (http://travel.nytimes.com/travel/guides/shopping/overview.html?inline=nyt-classifier) centers have drawn an increasing number of visitors from Philadelphia and New York City, Mr. Vasser of the convention bureau said.

Their spending has allowed the economy to become slightly less dependent on what for years was the typical Atlantic City consumer: a gambler who arrived by bus, wagered for about six hours and left without ever checking into a hotel or buying anything more than a $9.99 all-you-can-eat buffet. For years, 90 percent of the city’s revenue was from gambling. Now it’s 75 percent, Mr. Vasser said. In Las Vegas, it is about 50 percent, he added.
Skip to next paragraph (http://www.nytimes.com/2008/03/02/fashion/02atlantic.html?pagewanted=2&_r=1&sq=Atlantic City&st=nyt&scp=1#secondParagraph) http://graphics8.nytimes.com/images/2008/02/29/fashion/02atla190.3.jpg Hayes Davidson
A rendering of the finished Chelsea hotel.

Multimedia

http://graphics8.nytimes.com/images/multimedia/icons/audio_icon.gif New Yorkers discuss their attraction to Atlantic City; introduction by Allen Salkin. (mp3 (http://graphics8.nytimes.com/audiosrc/fashion/AC.edit1.mp3))

http://graphics8.nytimes.com/images/2008/02/29/fashion/02atla190.4.jpg Mark Von Holden/Wireimage
Paul Sevigny, one of the operators of the Beatrice Inn.

Like many Las Vegas hotels that sought to boost the credibility of their dining offerings by opening local branches of well-known restaurants like Spago from Los Angeles and Nobu from New York, the Borgata offers two restaurants overseen by Mr. Starr, who opened his original Buddakan in Philadelphia.
The Chelsea is following suit. Mr. Starr’s Chelsea Prime, a steakhouse, will be part of the fifth-floor party space.
It is this borrowing of culture from other cities that makes Bryant Simon (http://www.temple.edu/history/PT/simon/index.html), author of “Boardwalk of Dreams: Atlantic City and the Fate of Urban America” (Oxford University Press, 2004), dubious that the cool people will adopt Atlantic City as a stop on their summer circuits.
“If you reproduce what already exists someplace else, you’re only going to get people on the back end of that curve,” he said. “Hip has to have an authenticity to it, a kind of rareness. What’s going on in Atlantic City is manufactured, but it’s not as over the top fantastic as Las Vegas.”
The back end often carries the wallet. Elizabeth Blau, a night life consultant widely credited with transforming Las Vegas’s restaurant scene by enticing brand name chefs to open branches there, said the Chelsea plan might work. “The brilliant thing about many of these nightclub guys is that they seem able to drum up a party wherever they go,” she said.
Ms. Blau worked in Atlantic City over the last few years on the Pier Shops at Caesars, a $175-million shopping and restaurant complex connected to the hotel by a bridge over the Boardwalk.
“I don’t think it’s going to be a seven-day thing,” she said. “But can these guys from the Beatrice bring a party to Atlantic City on the weekends? I think so.”
She said she hoped that her positive appraisal of the project might help her get past the doorman and into the Beatrice.
Maybe not. Some authentic Manhattan experiences might best be shipped free of charge to Atlantic City. Like the experience of being rejected by a dead-eyed doorman muttering, “Sorry, private party tonight,” which is what happened to this reporter as he approached the Beatrice Inn on Wednesday evening wearing a bulky orange parka appropriate to the freezing weather.
Moments later, a shivering couple in sheer but stylish clothes was ushered inside without a question.
It was enough to make a fellow dream of summer days on quiet Long Island beaches (http://travel.nytimes.com/travel/guides/beaches/overview.html?inline=nyt-classifier), where the only line is at the snack stand for hot dogs and ice cream cones.

OmegaNYC

March 4th, 2008, 06:35 PM

“Atlantic City is one of the most disgusting places in the world,” said Sean Kalish, a 26-year-old lawyer who visits the casinos to play poker. He was standing in a slender peacoat waiting for the Atlantic City bus at the Port Authority Bus Terminal on Wednesday. “It’s like Las Vegas got drunk and slept with South Jersey and this is their bastard child.”

ROTFLMAO!!!! :D

JCMAN320

March 4th, 2008, 07:07 PM

Ignorance abounds in that comment. Just more Jersey bashing and ignoring the great history of AC. What about Las Vegas, I've been there and that place is disgusting anywhere off the strip and tourist areas.

blackdragon905

March 4th, 2008, 08:41 PM

Thanks for correcting me with the Pinnacle statement. In regards to Revel and the land they just bought, how many acres would you say the land is on for an expansion or a new hotel?

acplayer

March 5th, 2008, 12:59 AM

Fabrizio

March 5th, 2008, 02:55 AM

Ignorance abounds in that comment. Just more Jersey bashing and ignoring the great history of AC.

AC's great history was ignored by it's citizens who allowed it's great skyline... (by 1930 one of the most impressive in the US) to be bulldozed under.

And it's great history was ignored by the casino developers who erected walls along the city's once wonderful boardwalk... among other anti-urban, anti-city gestures of which the city suffers.

-----------

The Cheslea looks great. Now: let's have the Cheslea section of the city landmarked and restored. Incentives for bed&breakfasts and locales in those grand old homes.

American Gaming Guru

March 5th, 2008, 09:35 AM

If I could guess on the Revel land, I would guess appx. 5 scattered acres. I really have no clue, but just by what I saw, I want to guess in that range. I hear that they are actively looking to acquire more. They are very smart in doing this. That way, they can continue to clear out the blighted housing that still exists in the area, which would add to the appeal of the under construction resort, provide a footprint for future expansion and buy the land at more reasonable pricing before the new resort is up and running.

It makes total sense.

66nexus

March 5th, 2008, 05:14 PM

AC's great history was ignored by it's citizens who allowed it's great skyline... (by 1930 one of the most impressive in the US) to be bulldozed under.

And it's great history was ignored by the casino developers who erected walls along the city's once wonderful boardwalk... among other anti-urban, anti-city gestures of which the city suffers.

I disagree that the citizens simply 'ignored' its great history. I think it has a lot more to do with the fact that AC was depressed 3x more than it is now. No one was visiting those old hotels, they were horrificly rundown/bombed out.

I do agree, however, that the casino companies could have certainly done A LOT more to preserve those old structures, but they went in with money and wrecking balls. And NJ today offers incentives for rehabilitating old buildings, but I don't think that was the case in the 70s

Fabrizio

March 5th, 2008, 05:32 PM

I was in my teens when the Traymore Hotel was torn down. I borrowed my older brother's camera and snuck into the empty hotel with a friend of mine to to take pics. We were even in the Hotel as one of the wings was being ripped apart. That's how crazy we were.

We got shots up in the domes... all through the place. The black marble lobby was magnificent.

( And those photos... all lost, but that's another story. )

Besides my very young efforts to document the building, the only other voice in protest was that of an AC lawyer whose name I can't remember. He actually tried to sue the city over the destruction of the hotel. But really no one cared. Not even the city's arts commision (a joke at the time).

RYinNJ

March 5th, 2008, 06:34 PM

JCman, I love Atlantic City's history...one of the most spectacular in American history and I think A.C. has a bright future if they can get their shit together. Have you ever tried walking around near the Claridge or on Atlantic Avenue? It's down right scary! I was waiting for the light to walk across MLK Blvd at Atlantic and within 2 minutes I had 3 black dudes come up to me trying to sell me crack. They really need to get these people out of the city if A.C. ever wants to succeed. Disneyland is so popular because it's safe. The Strip is pretty safe. Outside of the casinos, the Boardwalk and the Walk, most of A.C. is an eyesore with vacant lots and ghetto folk. Not very appealing to the competitive tourist trade.

This is not the first time on this thread that people mention criminals and describe them as black or ghetto. Is that necessary? Would you point out their skin color if they were white or maybe that doesn’t sound scary enough! Why is that people think eliminating those scary black, ghetto people is the answer?

acplayer

March 6th, 2008, 12:59 AM

'Why is that people think eliminating those scary black, ghetto people is the answer?' Umm, because it's true. If a bunch of white trash was going around A.C. murdering, robbing, dealing, etc... I'd say they need to get rid of them as well. The thug/ghetto culture is a dangerous dead-end lifestyle and you see and hear about it everyday in A.C. When people go on vacation they want a fantasy, they want to escape from reality, especially at the beach for jesus sake! Don't blame me for telling my experience truthfully. That's the problem in these PC days, no one wants to tell it like it is because they're afraid of offending someone with the ugly truth.

acplayer

March 6th, 2008, 01:14 AM

Sorry I got side tracked. I forgot to add this pic of the Traymore

JCMAN320

March 6th, 2008, 03:27 PM

Not for nothing it is a city. I mean I have been to LV and seen the same stuff people selling drugs and prostitutes on the street corners not far off the strip and hell I was at Christopher St. in the Village and had some guy threaten to stab me if I didn't buy PCP off of him. I just walked away and he did nothing. There is trash everywhere in this world. AC will change but forcing people out and making the entire city whtie washed and unaffordable is not the answer. The answer is to open rehab facilities and help these people get help not run out of them town. Because then they will just move to another town and become their problem, these people just don't disappear into thin air.

Enough of the AC bashing seriously. How about intelligent conversation and how to work and fix the problem instead of painting an entire city with a very broad brush?

giselehaslice

March 6th, 2008, 03:45 PM

^ thank you, JCMAN, it would make a whole lot more sense to try to solve the problem rather than complain about it.
===
In the Casino Industry, Penn national is trying to buy another casino site in atlantic City off of Route 30 (white horse pike.) here's the story.

Pennsylvania firm seeks 2nd Atlantic City site for casino

By MICHAEL CLARK Staff Writer, 609-272-7204
Published: Thursday, March 06, 2008

ATLANTIC CITY - Already fighting to acquire the city's sprawling Bader Field property, a Pennsylvania casino and racetrack operator is considering another parcel in its effort to establish itself in Atlantic City.

Penn National Gaming Inc. announced Wednesday at a city Planning Board meeting its plans to transform a former oil depot along Route 30 into a gaming destination. At the meeting, company representatives asked city officials to amend the master plan to allow for casino development in the area.
"We want to be in Atlantic City," said Steven Snyder, Penn's senior vice president of corporate development. "That's the bottom line."
Snyder said the company has a tentative agreement with the property's owners to buy the 23-acre property - at the Route 30 approach to the city just west of the bridge over Beach Thorofare - but have not yet officially acquired it. The site is currently occupied by Clayton's Self Storage, one of a local chain of storage and truck rental facilities owned by Egg Harbor Township developer Ralph Clayton.

Although Penn's plans for casino development are far from concrete, the company envisions 100,000 square feet of casino space and about 1,500 guest rooms, according to George Miller, a local attorney who represents Penn National.

Snyder insisted the proposed development would not alter Penn National's hopes of attaining the 140-acre Bader Field site, which the planning board recommended be zoned for casino development Wednesday. The company proposed an $800 million deal to acquire the city-owned site with plans of subdividing the land to develop three or four casinos. While many resort officials werenoticeably compelledby the offer, it appears the city will put the property out for bid later this month.
"They do seem anxious," City Planning Director William Crane said of Penn National's aspirations. "There are challenges here ... but the more casinos and hotels in this city, the better for everyone."
The 23-acre parcel Penn National intends to buy is not all buildable land, however. Nearly a third of it is wetlands, leaving company officials hoping to build on 15 acres or 16 acres.
But the project will face hurdles, and the most formidable could be the state Department of Environmental Protection.
"The DEP is going to be a challenge," Crane said Wednesday. "That's going to determine how much they can build on. If they cut it down to 10 (acres) or less, then it's not that viable a site."
Crane requested a traffic study when he met with Penn National after the company reached an agreement to buy the land. That study, conducted by an engineer hired by the company, also was discussed during the planning board meeting Wednesday, with plans for ramps from Route 30 to the proposed casino site.
Crane said the city's traffic consultant is reviewing the study, adding that many questions remain to be answered.
"Access is another big challenge, getting the vehicles over to the site," he said. "The ramps are definitely needed. Another question is are there roadway improvements (needed) farther out on Route 30."
A new gaming hall at that location would likely threaten the three Marina District casinos, which depend on the Route 30 corridor as their feeder road.
Harrah's Atlantic City said it would welcome Penn National, but only in areas already designated for casino development.
"We believe that the Atlantic City market can accommodate more hotel rooms and we would encourage Penn to seek areas consistent with existing casino zones," Harrah's spokeswoman Alyce Parker said.
While Penn National has inquired about sites on the Boardwalk, Crane said the idea of casinos nearthe Venice Park section of the city and at Bader Field "doesn't hold water."
"They said the same things about building in the Marina district," Crane said. "All Borgata (Hotel Casino & Spa) did was raise the bar and force other to make improvements. It was business as usual before the Borgata."
Ralph Clayton, who is about 18 months into his 35-year lease of the property, said he was oblivious to any casino development plans when reached by phone Wednesday.
"This is totally out of the blue to me," said Clayton, who believes his lease may allow the landowners to opt out. "We're adding more units all the time over there. This is my first indication that this thing was going on."
Clayton said the land is owned by Arthur Ponzio, an engineering and planning consultant, and Stephen Frankel, a local real estate broker. Frankel did not return calls seeking comment and Ponzio referred calls to his attorney, who could not be reached. Staff writer Donald Wittkowski contributed to this report.

Fabrizio

March 6th, 2008, 03:51 PM

More than breathless cheerleading about the next possible casino, I'm complaining AND offering suggestions.

blackdragon905

March 6th, 2008, 04:38 PM

In the article, it mentions that penn national's preliminary plans are to build a 100,000 sq ft casino with 1500 hotel rooms. To me, that just seems too small of a project. It mentions in the article that Borgata has raised expectations, and 1500 rooms, just doesn't cut it to reach these "expectations." I would have thought around 2000-2500 rooms would be much more suitable and would attract by far a bigger crowd. Just seems very odd to me as if the whole thing just came out of the blue. I just think the goal should be to go bigger in Atlantic City now.

JCMAN320

March 6th, 2008, 05:20 PM

Harrah's first of 3 new projects to open in AC

by South Jersey News Online Thursday March 06, 2008, 3:23 PM

ATLANTIC CITY, N.J. (AP) -- Tightening credit markets and a worsening economy are worrying some in the Atlantic City casino industry. But a wave of casino-hotel expansions begun a few years ago is coming to fruition, and not a moment too soon.

Harrah's Waterfront Tower, which debuted on Thursday, is the first of three major expansion projects that will open this year designed to add thousands of rooms to the Atlantic City market, where it is often difficult to find a room on the weekend.

The 961-room Harrah's project will be followed in June by a new 800-room stand-alone hotel called The Water Club at the Borgata Hotel Casino & Spa. And by Memorial Day weekend, a new 786-room tower at the Trump Taj Mahal Casino Resort should be open.

All those projects were begun about two years ago, before the economy started heading south. Thursday's dedication ceremony for the Harrah's project came less than two weeks after Pinnacle Entertainment alarmed some here by saying tightening credit markets might force it to delay or even abandon its plan for a $2 billion mega-casino on the site of the former Sands Casino Hotel.

But at the ceremony, in which Harrah's Entertainment CEO Gary Loveman helped Gov. S. Jon Corzine cut a ribbon, the mood was chins-up, and brave faces on, even while acknowledging the current financial turmoil.

"Despite the uncertainty in the credit markets, there are still a lot of people who want to invest billions of dollars here," said Linda Kassekert, chairwoman of the state Casino Control Commission. "While the availability of credit may have slowed things down, it clearly hasn't deterred people's interest in coming here."

In an interview after the ceremony, Loveman said Harrah's could have built its $550 million hotel expansion even in the current environment because it has the resources to pay for it without borrowing.

"It's a difficult time," Loveman acknowledged in an interview afterward. "I'm concerned about the economy impacting our business and all other businesses."

But he added, "I think Atlantic City has a bright future."

"There are now a number of customers here on the weekend that are not here for gaming. They're here for the spas and dining and entertainment," Loveman said.

R. Scott Barber, senior vice president and general manager of Harrah's Atlantic City, said the company has enough room to build two additional hotel towers in Atlantic City should it choose to do so.

Waterfront Tower is the tallest building in Atlantic City at 525 feet.

giselehaslice

March 6th, 2008, 06:16 PM

I see what you are saying about it being too small, but they also may be trying to make a more boutique project. For instance, the palms, one of the most fashionable casinos in Vegas only has like 700 rooms. 700 is much smaller than 1500.

My take on it is that the plot where they want to build would probably just sit vacant for another 25 years without anything else going on it. The location in my opinion is odd, but I guess its good that a developer is willing to invest in AC on a kinda weird lot. I say build it. I dont think it can hurt anything really, unless it is a really low class project.

zipburn

March 6th, 2008, 10:54 PM

This is my first post, been reading the responses for some time now, I am in and out of offices all day and around the city daily. I see somethings posted on here after I have already seen them by at least a couple of days. I look forward to passing on what I know and see if I can get advanced shots of things.

They have started to bore the ground in multiple locations on the MGM site. This is another sign that MGM is full speed ahead.

The Penn National location is very tiny this could be the reason for the smaller casino but Its seem as though they are very, very bullish on Atlantic City and want to get in while its still cheap. The location is not that great either it is directly across the intercoastal waterway from the water treatment facility where the windmills are located. The windmills will be nice but looking at the cess pools will be something else. My guess is this is the first attempt to build with a better more upscale coming afterwards. Obviously located on a better location hopefully on the bader site. The current site never in my wildest dreams would I have imagined someone would put a casino at. This is by far a big suprise and just shows how much Atlantic City is worth to gaming companies at this point. I wouldn't worry about Pinnacle either they are still doing work on their site and the new AC post office is a few months from completion located on route 30 near North Carolina Ave.

With regards to crime, the ACPD has started foot patrols on Pacific Ave. with new recruits that just graduated jan. 30th. There is noticeable difference in the amount of crackheads and drug dealers you see on these streets now. Texas & Pacific Ave. used to always have at least one of these low-lifes on the corner but I haven't seen them since they started. Also the corner of New York & Pacific used to have multiple crackheads hanging out there they are hard to find now. It's amazing what this has done, as more recruits come in during the spring, I fully expect more patrols on Atlantic Ave.

blackdragon905

March 6th, 2008, 11:45 PM

Great post, I too just started posting after observing for quite some time. It would be great if you could get some pics. I'm not really sure about the location of Penn National, it seems very odd and I'm not sure if it will come to fruition, but they sound very aggressive in building, so you never know. I was curious if you know how many acres Curtis Bashaw is planning on building on next to the Hilton, I know he is still trying to acquire more land, but say he does, what would the total acreage be? Again, nice first post!

Fabrizio

March 7th, 2008, 06:44 AM

That is great news about the increased police presence on the avenues of A.C. And wonderful to hear that it is working.

I do not understand the balking here everytime someone mentions the unpleasant environment that much of AC is. Recognizing the street crime, talking about it, protesting about it must be done. It is foolish to condem tourists that find AC to be a dump. It is simply true. Tourists must feel comfortable on at least Pacific and Atlantic avenues. The safer tourists feel, the more attractive the city becomes for development. Do you think Times Square would have the tourism it has now, if people 20 years ago had acted as if the squalor did not exist?

RYinNJ

March 7th, 2008, 08:39 AM

It is definitely fair game to talk about the often unsafe and squalor conditions that exist in AC. Fixing this situation should be a top priority. However, referring to the people of Atlantic City by pointing out their race and calling them ghetto people is unnecessary. Furthermore, rounding them up and dumping them in neighboring communities, as was suggested in earlier post, so tourist can enjoy a fantasy is insane. Having a civil discussion about resolving the many problems of AC does not have to include derogatory terms about the population that lives there. Oh and referring to my comments as being too PC is nonsense. It’s about not being ignorant!

Fabrizio

March 7th, 2008, 09:16 AM

RYinNJ: your post coming right after mine could give the impression that you are referring to me (not the case).

Crime comes in all forms. Corporate crime, government crime etc... and crime is performed by people from all strata of society.

Unfortunately street crime is immediately visible and it gets in the way of everyday activities in a raw and immmediate way. It creates fear, hurts business etc.

Identifying who is doing the street crime is essential. Lessing it's impact with a greater police presence is a first step. One would hope that job training, counseling, drug rehabilitation etc (free and on demand) would also be part of the package.

The idea of "Shipping people off" is ridiculous and not part of what a caring society is about. And neither is ignoring the problem.

RYinNJ

March 7th, 2008, 02:38 PM

Couldn't agree with you more Fabrizio!!
Oh and yes, you are correct, I was not referring to you. I should have clarified that in my post. My Apologies....

acplayer

March 7th, 2008, 05:28 PM

Here's the location of Penn National's proposed casino. I think all new development should be steered to the Boardwalk just like the Master Plan suggest. It's pretty much a no mans land of vacant lots from the Sands to Resorts as well as the Inlet. The Boardwalk needs to be the centerpiece of A.C.

http://i253.photobucket.com/albums/hh72/acplayerr/Penn.jpg

giselehaslice

March 7th, 2008, 05:45 PM

blackdragon905

March 7th, 2008, 06:01 PM

The lot seems a lot smaller than I thought it would be. It seems to me that whatever Penn National is going to do, its going to be very limited. I'm all for the building in AC, but I do agree construction must be for the boardwalk. Hey, if Penn National comes out with some good renderings, then I might change my mind and be for it lol. Does anybody know how big of a hotel Curtis Bashaw is planning on building next to the Hilton?

giselehaslice

March 7th, 2008, 06:43 PM

^ No formal plans have been announced about the Bashaw/Barr casino. all that I know is that they said it is supposed to be a "boutique" casino and hotel, but who knows what that means. I am guessing that will have between 1200 and 1900, but that is probably wrong.

Does anyone know what is up with construction on the Revel site? Havent seen it in a looonnng time...

American Gaming Guru

March 7th, 2008, 06:55 PM

I agree, develop the boardwalk first! I think Penn is going to have a difficult time getting that lot incorporated into the casino zone.

The boardwalk really needs improvement and there are definitely lots where a new casino can be built.

What I have heard is that Curtis Bashaw and Wally Barr are planning a very big resort. I’m hearing in the 3,000 room range! They are certainly acquiring land on a rapid pace and are even negotiating with the city to utilize some of the park space at the end of Albany Avenue (they have proposed moving the monument and the Knife and Fork Inn as well).

BTW, I heard a presentation given by Kevin DeSanctis (CEO of Revel) that they have appx. 16 acres of addition land! Not bad. If you want to hear Mr. DeSanctis in his own words, here is the link: http://www.wsw.com/webcast/wa47/revel/ (http://www.wsw.com/webcast/wa47/revel/)

acplayer

March 7th, 2008, 08:51 PM

From Pinky's corner and Atlantic City tripping regarding the Knife & Fork and the Wally Barr/Curtiss Bashaw plans.

For those of you who have expressed concern about the future of the historic Knife and Fork restaurant in Atlantic City, I am pleased to inform you that you do not have to worry about its future any longer. According to Frank Dougherty, whose family owns the restaurant, sometime in 2009, when the option to purchase the facility has been exercised, the facility will be moved to the corner of Hartford and Pacific avenues. The Knife and Fork building will be lifted and moved down Pacific Avenue and set in its place in its new location.
The company that has the expertise to move this type of building assured Dougherty that, because of its construction, this building could be safely moved.

The AC Gateway Project: Wally Barr and Curtis Bashaws Plans For The Dunes, Sahara Atlantic City and Old Atlantic City High

http://i253.photobucket.com/albums/hh72/acplayerr/gatewayaerial.jpg

giselehaslice

March 7th, 2008, 10:38 PM

WOW! 3,000 rooms is definatley on the large side, especially for a "boutique" resort, but im not complaining. When is contruction starting on this project?

Also, 16 extra acres for Revel is absolutley outstanding! They could just get like 4 more acres and they would have doubled their property area (it would be 40 acres alltogether.) I am really wondering if it is just for Revel expansion or for a completely new resort?!

blackdragon905

March 8th, 2008, 01:30 AM

16 additional acres is a lot!!!! I hope that if they do decide to build, its for a whole new resort. In regards to Curtis Bashaw, I did hear the resort was gonna cost over a billion dollars, whether that means 1 or 2 or 3 billion etc., I don't know. American Gaming Guru, do you know how many acres in land Curtis Bashaw is planning on building on? Thanks so much for the info so far.

JCexpert558

March 8th, 2008, 08:16 AM

Im very happy on how all this developement is going on in Alantic City, but if these large coporations keep worrying about the major areas, and not the ghetto then thats problably going to bring less peeople in Atlantic City. But other than that this project looks really good.

STT757

March 8th, 2008, 10:45 AM

the site is where the thumbtack with the #2 is.

It is a very peculiar location. The borgata can be seen to the right, along with the vacant land where MGM Grand is being constructed, and on the other side of that, Harrahs.

I dont know what to think of Penn come to think of it. I cant decide whether I am for a casino there or against a casino there....

Isn't that site the location of a ASPCA shelter? If it is indeed a shelter location I hope the developers pay to build a new modern shelter at another location.

STT757

March 8th, 2008, 10:59 AM

At some point the State is going to have to step up to the renewed expansion and development in Atlantic City with a major investment in infrastructure. My Wife and I were in Las Vegas in July, while the 116 degree heat was interesting one thing I found absolutely a total joke was that Las Vegas monorail. It was expensive and went absolutely no where, it snaked behind casinos wastelands where they keep their dumpsters and service equipment. And there were very long walks (in 116 degree heat) to go anywhere.

In contrast New Jersey already has the templet to use in Atlantic City, the success of the Hudson Bergen Light Rail is a big part of the success story of the Hudson waterfront. The right of way of the light rail is helpful is directing development, people want to be near the light rail. In Atlantic City they can help direct development through the light rail, the casinos will want to be near the light rail.

Build the Light Rail in Atlantic City to tie together the Boardwalk casinos, the Marina area, Convention Center/ NJ Transit station, satellite employee lots and Atlantic City International Airport.

acplayer

March 8th, 2008, 11:16 AM

My problem about the Burr/Bashaw project is that the Atlantic City Master Plan lists several of these buildings as worthy of historic preservation. The Chelsea section of A.C. is still a relatively intact neighborhood (not all parking lots) and retains a little feel for what A.C. used to be like. The Knife & Fork has been in this spot for 100 years. Imagine how great and unique A.C. would be today if it didn't destroy all the beautiful buildings that were in the city.

http://i253.photobucket.com/albums/hh72/acplayerr/chelseaaerial.jpg

acplayer

March 8th, 2008, 11:31 AM

STT757, A.C. used to have a great light rail/trolley that went the length of the island and to outlying areas. They still have the right of ways in many areas and could bring these back.

Captain Starns at Inlet
http://i253.photobucket.com/albums/hh72/acplayerr/actrolley2021952.jpg

Atlantic Ave near Chelsea Park & Knife & fork
http://i253.photobucket.com/albums/hh72/acplayerr/actrolley68881955.jpg

American Gaming Guru

March 10th, 2008, 01:54 PM

ACplayer. Wonderful illustration. I especially like the historical references to the former Sahara, Dunes and AC High School sites. Can you do the same for the Pinnacle, MGM and Revel owned property? It would be a fine addition to the forum.

Also, I do not believe that the Bashaw/Barr partnership is targeting the land between S. Hartford and S. Providence and between Pacific and Atlantic (the most northern “targeted” parcel on the illustration). It is my understanding that they have purchased all the land between Roosevelt Place and Lincoln Place (between Atlantic Place and the Boardwalk). Most of the land in this block was included in the original land purchase from The Hilton (aka Resorts International aka Colony Capital). The buildings to the Southeast portion of the site have been or are in the process of being vacated and will be demolished.

On the topic of demolition, I too agree that the Chelsea section of AC is probably the most vibrant and has some of the most regarded historical buildings including the highly celebrated Knife & Fork Inn. These buildings must be preserved or moved with extreme meticulousness.

I have seen and heard much criticism about Curtis Bashaw in his former role as the Executive Director of the CRDA for demolishing the old AC High School. On the contrary, he does a wonderful job with his real estate company in the adaptive re-use of historical buildings thus saving historical structures and adding significant upside to the communities that they are located in. He has done this mainly in Cape May, NYC and most recently is attempting to do so with the long-abandoned Bulova Watchcase Factory on Long Island (http://www.watchcasefactory.com).

May I also agree that a light-rail system would best serve the community and the casinos. Imagine if they were creative enough to construct throw-back rail cars? Now that would be fantastic! Thanks for the historical pics.

BTW. I am not sure on the total acreage of the Bashaw/Barr site, but they also have been petitioning the city to include a portion of the park as you enter the city off Albany Avenue aka Blackhorse Pike. They have proposed moving the memorial to provide better access to their site. With all this land assemblage they have been conducting, you can bet that this project has evolved into anything but a “boutique” hotel concept.

acplayer

March 10th, 2008, 02:17 PM

Hi Gaming Guru, I actually got the illustration from http://www.atlanticcitytripping.com/ Check it out. Very good site regarding A.C. developments.

http://i253.photobucket.com/albums/hh72/acplayerr/Pinnacle.jpg

Ever the cheepskates, (wink-nudge) Pinnacle used at least some of the proceeds of the Sands fire sale to pick up a chunk of neighboring properties (outlined in green), including the Post Office and two apartment buildings on the opposite side of Pacific Ave, the classic Poseidon Restaurant on the corner of Pacific and Martin Luther King, Ali's - a small grocery store and a massive vacant parcel adjacent to the Traymore site.
One piece of property - the Madison Hotel(orange) has been under a lease to various Sands AC owners, and used mostly as an overflow hotel. Dan Lee said that the lease is to last for about ten years upon conclusion the property will revert to the current owner with stipulations that it must be returned as they received it.
All told, Pinnacle Entertainment has amassed a little over 18 acres of land for the Pinnacle Atlantic City project and with creative uses of eminent domain laws, are eyeballing a bunch more (outlined in red).
One of these properties, the Park Lane Hotel sits directly across MLK next to the Madison, separated by a minute tract that was part of the original Sands sale. Park Lane, as and the four (maybe five) surrounding parcels - a parking lot, mid-rise apartment building, and a group of low level storefronts are all potentially targets of Pinnacle acquisition - either by negotiation and sale or through eminent domain / redevelopment procedures. Two other chunks of land that are partially engulfed by the Post Office / apartment block - a low level retail operation and a small vacant parking lot at the far end would complete a block of turf that would most likely become the Pinnacle AC parking structure and/or managed apartments.
The vacant parcel adjacent to the site of the former Traymore has three structures - an apartment building adjacent to the large Sands AC parking garage, a relatively new five-story Comfort Inn, and on the boards an aging 10 story hotel/apartment building and a slew of shops including the world famous Peanut World. Some of the owners of these individual shop plots have been solicited by Pinnacle, who claim they've lowballed them.
While it would be in Pinnacle's best interest to acquire all of the properties we've outlined in red, some of them could easily be built around. Pinnacle's recent announcement that the current credit market downturn may put the kibosh on the project does make me wonder if Dan Lee is crying wolf in the hopes that some of these occupants might just take any offer they can get. Atlantic City is known for demolishing buildings for unplanned future development. According to Atlantic City native Dr. David Schwartz (http://www.dieiscast.com/), Director of the Center for Gaming Research at UNLV, "the rowhouse is Philadelphia's signature building. The skyscraper (or brownstone) is NYC's. In AC, we've got the vacant lot." Knowing Dan Lee's history of going to great lengths to assemble large parcels of highly sought after property (http://www.cfo.com/article.cfm/2987478/c_3046558?f=magazine_featured) from numerous sources - MGMMirage's massive City Center project is built on land that Lee culled together during his days working for Steve Wynn as CFO at Mirage Resorts - feigning a case of Casino Developus Interruptus in the name of landmass acquisition isn't completely far fetched.
If Pinnacle's AC pullout is a gigantic bluff and Pinnacle makes quick work of various land grabs, it sure makes up for Lee's childish kvetching about the potential for Bader Field going to his boss-turned-arch-nemesis Steve Wynn. Nicely played Dan, hope we didn't blow it for ya.
Whomever ends up with the Sands AC landmass, be it Pinnacle, Wynn Resorts or another developer, they've got a great plot of land to work their magic on as long as they have the patience or bankroll to pull the last few sticks, or peanuts, out of the mud.

American Gaming Guru

March 10th, 2008, 03:02 PM

acplayer, thanks for the link. This site looks great.

Fabrizio

March 10th, 2008, 05:00 PM

re: Historic preservation

I wonder how many of you are aware of this:

Scroll up to the photo and note the Claridge Hotel. Look at the long wing that faces the sidestreet.

That entire wing is NEW... complete with matching brick and carved limestone trim. It was built in the 1970's, yet it faithfully matches the rest of the hotel.

It is almost impossible to see the difference between it and the original 1929 structure. And it is not some little addition, it is as large as the original building.

It shows not only how the older hotels could have been expanded apon, but also how new structures can be built using high quality materials and a respect for the past.

----

Chelsea: i have stated a number of times here (to absolutely no response) that the Chelsea section should be landmarked and zoned to become AC's South Beach.

---

Dr. David Schwartz, Director of the Center for Gaming Research at UNLV, "the rowhouse is Philadelphia's signature building. The skyscraper (or brownstone) is NYC's. In AC, we've got the vacant lot."

And if the powers that be do not get AC's urban planning act together, it's "signature building" will soon be the blank wall and the parking garage.

---

giselehaslice

March 10th, 2008, 05:21 PM

I agree that chelsea can definatley become AC's SouthBeach, and is sort of on the way to becoming that.

About the blank wall and parking garage as being AC's signature building:
It is not soon to become the city's signature building, it already is. Most of the new designs are much better than the ones of the 1980s casinos. Hopefully though, there will be an ephiphany to the owners of the older casinos, and they will demolish the parking garages, and replace them with a mixed use product (aka the quarter) but with more streetlife.

66nexus

March 10th, 2008, 06:12 PM

acplayer

March 11th, 2008, 12:16 AM

I agree Fabrizio regarding Chelsea. They could apply to have Chelsea designated a historic district which would kick in state historic tax credits and abatements and other incentives for people to reinvest back in the neighborhood. A.C. could even offer tax abatements from their skyrocketing property tax. Unfortunately, the local politicians are so inept (the mayor of a billion dollar resort is a firefighter with a GED) that they can barely keep the city running let alone think outside the box at all.
A.C. needs to go back to the basics of what made it so special before.

http://i253.photobucket.com/albums/hh72/acplayerr/steeplechase1920.jpg

Fabrizio

March 11th, 2008, 04:40 AM

Even if most of AC eventually becomes an uninteresting parking-lot of mega-resorts (most likely scenario), a neighborhhod like Chelsea could become "the other" Atlantic City: a cool, charming place worth walking around and spending time in. Chelsea also has the advantage of having short beach blocks, preserving a more intimate feel.

Look at the foto of the The AC Gateway Project. The park there could become a very nice central "piazza". Hotels should be required to maintain a street wall along those sidewalks facing the park, lined with restaurants and shops. Imagine.

You guys can drool over these projects all you want.... but what is the public going to get here? More blank walls, parking garages, and a ruined street life? Or are these projects going to help in stitching together this part of town.

Start asking questions of what these developers are proposing.

MidtownGuy

March 11th, 2008, 05:44 AM

Fabrizio

March 11th, 2008, 06:26 AM

Midtown: it was the most magical place:

http://img.photobucket.com/albums/v33/ronaldo/NJ-00074-CBikes-on-Boardwalk-Atlant.jpg

American Gaming Guru

March 11th, 2008, 11:43 AM

Ahhh. Lovely pic. I had always imagined a re-use of the old AC high School integrated into a new resort. With that option off the table, I also thought that a resort that takes the shape of the park and loop around the memorial would be spectacular. I am thinking much akin to what Related did with the Time Warner Center in NYC. They built a huge complex but modeled it around Columbus Circle and brought much needed vitality to that area of the city (pic below). How great would it be if a new resort restored this once grand section of the city?

http://www.cityofatlanticcity.org/images/historypics/mikes_1_jpg.jpg

The TWC not only was modeled to preserve the circle, but the developers also rebuilt and reinvigorated the park in the middle. The Bashaw/Barr group would be providing a huge asset to the city of they did the same. In fact, the city should demand it!

http://www.mediabistro.com/unbeige/original/ccshops.jpg

Looking out from TWC:

http://upload.wikimedia.org/wikipedia/commons/thumb/5/55/ColumbusCirclefromTimeWarnerCenterNYC20050807.jpg/800px-ColumbusCirclefromTimeWarnerCenterNYC20050807.jpg

Fabrizio

March 11th, 2008, 01:41 PM

It could be a grand public space... flanked by grand boulevards.

What the clueless AC people-in-charge don't seem to realize is that AC has streets that are known ALL OVER THE WORLD because of the monopoly game.

It has street names that are BRANDS. HISTORIC names that are as well known as 5th ave, Park avenue etc.

"Park Place" the most expensive street on the Monoply board, but completley trashed in the "new" Atlantic City, should get a new life as the name of this section of AC. It should be a toney super luxe address. Millions of dollars of branding have already been done by 70 years of the Monopoly game.

Imagine that TimeWarner style project being named, "1 Park Place Atlantic City."

66nexus

March 11th, 2008, 05:16 PM

I totally agree. It's easy and mindless to wet your panties everytime a mega project is proposed, and quite another to be sensibly critical and demand excellence and good planning. The latter is what will actually make AC the place it deserves to be, not cheerleading for just any ole thing.
Imagine creating a piazza like Fabrizio describes. I nominate Fabrizio as development czar of the Eastern seaboard.
I've never actually BEEN to AC but the 'walls' along the boardwalk sound dreadful. What retards Americans can be when developing their cities.

The problem is that AC was severely starved for any development back in the day. Developers keep trying to remake Vegas in AC. That sort of construction can work in the Marina which didn't have existing infrastructure, however, in AC city-proper it won't/doesn't work that way.

BUT...It's hard for folks not to be excited about AC's developments because for so long people had to deal with casinos like: Trump Plaza, Taj Mahal, Hilton, etc...they're so cheesy Vegas 80's (the renovations only go so far).

It isn't cheering for any 'ole thing, some people like the renderings, of course. It's great to miss AC's older structures but they're gone now, and trying to create a classical structure from the bottom up in modern times doesn't make sense. The Art Deco-inspired Resorts casino is uglier than the Taj IMO

I personally don't care too much for the design of the Chelsea but I'm glad it's being built.

Atlantic City won't be the city of old, those days are long gone. The biggest crime against the city was letting fall as far as it did, which made too much room for "desperate development".

blackdragon905

March 11th, 2008, 07:25 PM

Say all the projects do indeed come to fruition, what and how much space would be left on the boardwalk for more projects or would Atlantic City just have to rely on Bader Field and the marina for future developments? Also, American Gaming Guru, do you know what 16 acres Revel has acquired and what year Bashaw expects to have his hotel built by?

giselehaslice

March 11th, 2008, 08:20 PM

there is still pleanty of space available on the boardwalk. There is a HUGE gap between Resorts and the Sands/Pinnacle site, probably like 25-30 acres. Also, down near the chelsea, there is a few available parcels abutting the boardwalk. Also, lower down past the barr/bashaw project, there may be a little more room (dont know if thats casino zoned though.) there also seems to be a big dead spacew between trump plaza and tropicana, so maybe there is some space there. All in all, there is still pleanty of space on the bwalk.

I personally think that Bader should be used as a Casino zone, as that is the most profitable, and it will probably be nicer than some cheap residential project. Only condtion I would mandate is that there is a monorail/light-rail that connects Bader to the boardwalk and maybe to the Marina.

blackdragon905

March 11th, 2008, 08:55 PM

I'd love to see Wynn return to Bader Field. I could only imagine how amazing that resort would be. But i definitely think 3 or 4 mega resorts on Bader field would do wonders. In regards to all that open space between resorts and pinnacle, trump and tropicana, etc., do u know who owns those parcels of land and if they intend on building there? I thought the Prasada was being built between pinnacle and resorts, and on atlanticcitytripping.com it even said of a possibility of planet hollywood building next to resorts as well (i knew the owner has expressed interest in building)?

acplayer

March 12th, 2008, 11:27 AM

They should require each casino to have at least half of their restaurants and retail attractions be visible and accessable to the street and boardwalk. This seems like such a no brainer. This would help both the city as far as more street level activity and it would help the casinos by giving them more visibility. Instead of massive blank casino walls with the patrons sealed inside the island fortresses, they need to go back to the old proven success of open flowing spaces with people friendly scale.

http://i253.photobucket.com/albums/hh72/acplayerr/bw1936.jpg

66nexus

March 12th, 2008, 04:45 PM

^Certainly agree. But then you'd have developers favoring less-built areas (Marina) because they could build the whole thing from scratch. The Boardwalk may be a little seedy, but it wasn't always and it doesn't have to be. The definitely should put restaurants at street/boardwalk level.

MikeW

March 12th, 2008, 05:14 PM

None of this is going to happen.

No one cares about anything in AC except for the Casinos. This includes whatever government AC has and probably most of the people living there.

The last thing the casinos want is a vibrant street life to draw people out if the casinos. The want people driving directly to the casino leaving all their money in the casino, then driving back out.

Let's face it, if the casinos didn't get built AC would be Camden with the ocean. To some extent it is, but the casinos suck people down there, so it stays on the radar. But no one really cares about anything down there besides the casinos.

Even if most of AC eventually becomes an uninteresting parking-lot of mega-resorts (most likely scenario), a neighborhhod like Chelsea could become "the other" Atlantic City: a cool, charming place worth walking around and spending time in. Chelsea also has the advantage of having short beach blocks, preserving a more intimate feel.

Look at the foto of the The AC Gateway Project. The park there could become a very nice central "piazza". Hotels should be required to maintain a street wall along those sidewalks facing the park, lined with restaurants and shops. Imagine.

You guys can drool over these projects all you want.... but what is the public going to get here? More blank walls, parking garages, and a ruined street life? Or are these projects going to help in stitching together this part of town.

Start asking questions of what these developers are proposing.

giselehaslice

March 12th, 2008, 05:26 PM

^ I 100% agree with you.

The casinos will never try to get people out of them. Look at Vegas, there is nothing on Las Vegas Blvd. that has anything having to do with streetlife except for the attractions (Lake Bellagio, Wynn Mountain, Mirage Volcano.) So, I wouldnt expect any street life from casino developers.

HOWEVER, people who are developing places like The Chelsea, and The Prasada, will probably lean more towards the streetlife idea.

I personally dont get why people here dislike the Marina so much. It is in my opinion nicer than the Bdwlk. It might be more removed, but I feel a heck of alot safer there than I do on the Boardwalk. Hopefully soon that will change though.

JCexpert558

March 12th, 2008, 06:18 PM

I agree with everyone of you guys, but I heard today that the Las Vegas revenue went down, and Atlantic Citys went up.:)

American Gaming Guru

March 13th, 2008, 11:32 AM

The biggest impediment to building on the boardwalk is lack of land. Yes there are plenty of lots available, but historically this type of ownership (many different land owners of a vast open piece of property) has posed a major development obstacle in AC. I truly believe it is simply greed that has held up the transformation of this city. There are countless resort and condo projects (both existing and scrapped) that were hindered by hold-out land owners. So what do the casinos do? They build around them. What is the end result? A huge project that does not fit well on a small lot (aka Trump Plaza, the Sands etc) and slums that remain because they thought their winning lotto ticket was worth more than the reward on it! It’s definitely a game of “cat and mouse”.

So who are some of the big owners and what are the largest parcels? Resorts International (aka Colony Capital) probably has the largest lot that has not been already accounted for (besides the Planet Hollywood speculation). The land is directly adjacent to Resorts and provides a large footprint for a mega resort. I am very surprised that Resorts International has not formed a partnership/development agreement with other casino companies that are clamoring to get into AC. They can do exactly what MGM did. Contribute the land and reap rewards by having another company develop and manage it (as Boyd does with Borgata). They will also potentially drive more over-flow business to their own Resorts casino. It seems like a no-brainer to me.

Some other potential areas are directly adjacent to the Million Dollar Pier (aka Schiff’s Pier). This is an area referred to by locals as “The Dead Zone”. Again, the problem here is that there are too many individual land owners. Are the lots available? Certainly, but at astronomical pricing! For example, Maloney’s has been on the market for quite some time now. You know how much they want? $10,000,000!! And we are talking a small lot with ZERO boardwalk frontage! It is simply outrageous. So this area of AC will continue to be the slum that it is for quite some time to come. Also, the Schiff Brothers that own the pier and land adjacent to it on the boardwalk (where Bob Guccione had sought to also build a resort) are basically slum lords and contribute another BIG ZERO to redevelopment efforts of the city. They are solely a major reason that the boardwalk has been in shambles for so long.

The lots in between the Trop and Trump Plaza have been in play a bit over the past 3 years. The two major lots are the one directly adjacent to Boardwalk Hall and the one right next to the Ritz Condos. The lot adjacent to Boardwalk Hall was originally the Playboy casino then The Atlantis, then the Trump Regency Hotel and then the Trump World’s Fair casino. When Trump Casino & Resorts (the predecessor company to Trump Entertainment) sold the property to settle lawsuits with former stockholders, they protected their own investments by putting a Land Use Restriction on the property so that it can not be utilized for the development of a casino. Bruce Toll eventually bought the property and has proposed building a large condo project (pictured here):

http://www.betinvestments.com/development/the_pacific_towers/images/proposed_dev.jpg

http://www.betinvestments.com/development/the_pacific_towers/images/pt_preview.jpg
Weather or not Mr. Toll is going to go through with this proposal is anyone’s guess??

The second lot, next to the Ritz, is long owned by an investor with local ties. There were plans by Aztar Corp (former owners of the Trop) to develop a non-casino but high-end resort on the property with an unaffiliated hotel operator. They were very bullish on AC and saw the need for more hotel rooms but again, probably not a competing casino product.

When Aztar sold to Columbia Sussex (aka Columbia Entertainment) they (Columbia Sussex) showed initial interest in carrying out the Aztar plan for the site but it was quickly put on the back burner as they became caught up in massive union and CCC problems. So now that Columbia is out of the AC market (see previous posts) I guess the fate of this very desirable property is now open to speculation again.

So that’s all I have for now. I need to get back to work…unfortunately!

blackdragon905

March 13th, 2008, 01:15 PM

very valuable information to keep in mind, I would rather see a mega casino resort then condos next to boardwalk hall though.

MikeW

March 13th, 2008, 02:26 PM

If that's the case, the city/state should seize the land by eminent domain, consolidate it, and bid it out as one big package.

American Gaming Guru

March 13th, 2008, 02:44 PM

They have actually tried it, with some success (notably where The Walk is today), and will be doing it again with the Pinnacle development. I love how the hold-out property owners argue in the press and in court when they are faced with eminent domain threats that “the area is not in need of redevelopment”. They must be delusional!

blackdragon905

March 13th, 2008, 10:50 PM

What's the chances of Pinnacle actually acquiring all the land it is looking to acquire, and also do you think the project will come to fruition or be a bust? I know they have pushed back their building now until 2009, so that means the project wouldn't be done until 2012 now? i just really wanna see some renderings of it, the only reason I can think as to why they haven't released any is because they have no yet acquired all the property they want to, and won't release anything until they are certain that they have all the land they can get. Any thoughts?

American Gaming Guru

March 14th, 2008, 11:55 AM

Blackdragon905,

Not sure if Pinnacle will acquire all the land that they are targeting, as you may know the eminent domain process can be both long and cumbersome. They have pushed back the project that I believe was a very prudent move. I have stated earlier, on this site or others, that their CEO (Dan Lee) is a seasoned and highly respected casino resort financier. He formally was a banker (in the gaming sector) at Drexel Burnham Lambert and was CFO of Mirage Resorts before he had a falling out with Steve Wynn over his exuberant spending. Ultimately Lee was right and Mirage stock was beaten up and gobbled up by MGM Grand.

Anyway, I do ultimately believe that Pinnacle will build in AC. They pushed the project back in order to give the financial markets time to readjust and calm down. Ultimately if they went to the market to raise the capital to build a multi billion dollar resort right now, they would be paying handsomely for it. Revel has not secured their permanent financing yet either, but it seems that they feel they have enough capital to continue building while the markets equalize. Pinnacle is taking a more conservative approach which is realistic considering that they do not have the distinct advantage that Revel does in having an investment bank as their partner. MGM Grand seems to be financing all or most of their product with their own cash and credit lines (they recently got a large cash infusion by Dubai World).

With Pinnacle’s move to delay the project for those reasons, they also allow their plans to expand their footprint to continue. Dan Lee has stated that they have spectacular ideas and preliminary renderings for their resort that they will not releases to the public ultimately because they have not finished assembling the footprint and thus imagines them changing. My guess is that they are including lots in their plans that they have not acquired yet???? He has also stated that he does not want to give other competing companies any competitive advantages by releasing their own plans to the public.

Let’s hope they proceed. They have been on a winning streak transforming their company and building marketing-leading casino resorts.

blackdragon905

March 14th, 2008, 01:39 PM

Thanks for the info American Gaming Guru. I just have one more question regarding the Trump marina. I know MGM owns 14 acres next to it, any chance they buy the Marina and build another resort there. I think the Marina needs to go as it looks so small and old compared to the other casinos. I'm not sure how many acres it is on, but I think it needs to be demolished to have a much nicer resort built there.

giselehaslice

March 14th, 2008, 02:46 PM

The 15 or so acres next to the trump marina will be used (or at least some of it will be used) to construct MGM Grands Arena. I do think though, that by putting the arena over there it gives the impression to me at least, that down the line they might want to expand next to the arena and maybe build a resort on the trump site. I have always pictured "Mandalay Bay, Atlantic City" on that site. haha:).

acplayer

March 14th, 2008, 10:02 PM

Good analysis AGG. The Schiff brothers are just down right slum lords. Why the city doesn't imminent domain all their property is beyond me. The CDRA just gave them at least $50 million worth of free facade improvements to their boardwalk stores. This, after the Schiff's got $35 million from Bally's for their hideous building that's been blocking the old Dennis Hotel for 30 years. The two multimillionaire brothers, Robert and Abraham Schiff own two thirds of the boardwalks non-casino properties and for the past several decades they have been capitalizing on the sleazy, cheap, stores that front most of the boardwalk. Their reasoning for this is that they claim that for decades, this is what sold. The Schiff Brothers claim that tourist from around the world love to shop and spend money in these shops.
Then The Walk and Ceasars Pier, with its high-end shops and restaurants opened its doors. Since then, the Schiff Brothers feel that their tenants have been loosing business and the clientele has changed. More tourist with money to spend are coming to A.C. and they are looking for a good quality product, not the cheap merchandise the Schiff stores peddle.
The Schiffs announced last July they decided to reverse their business strategy and join in on the redevelopment of the Boardwalk. I haven't heard anything about it since. One main project is the $70-$75 million development of the Central Pier that will re-open as a posh dining, entertainment and retail venue. Currently the pier houses a Dollar Store along with Go Carts and arcade games.
The Schiff Brothers also plan on redeveloping the stores along the boardwalk (along with the City’s help and money). The City realizes that without the cooperation of the Schiffs, the Boardwalk will remain the same for many years to come. It seems to me the Schiff's are just milking A.C. for all it's worth and are just greedy, no vision carpet baggers.

Here are some photos of Central Pier and St. James Street (which is now a vacant wasteland) in A.C.'s heyday.

http://i253.photobucket.com/albums/hh72/acplayerr/centralpier1925.jpg
http://i253.photobucket.com/albums/hh72/acplayerr/centralpiersignnight1925.jpg
http://i253.photobucket.com/albums/hh72/acplayerr/stjamesplaceeaster1922.jpg

JCMAN320

March 16th, 2008, 06:01 PM

NY to Atlantic City express train will stop in Newark

3/16/2008, 3:49 p.m. EDTBy JANET FRANKSTON LORIN The Associated Press

NEWARK, N.J. (AP) — Express weekend train service from New York City to Atlantic City will stop in Newark.

While details about price and start date are still being determined, a consortium of casinos has announced the New Jersey stop on the 2 1/2-hour train.

The Atlantic City Express Service is expected to begin in the second half of this year and will offer two grades of seats, first-class and coach, with leather seating, food and beverage kiosks and space for luggage, said Maureen Garrity, a spokeswoman for the express train.

Last week, NJ Transit's board approved a contract with the manufacturer of the trains, Bombardier, Inc., to modify the interiors of the multilevel cars.

Referred to as "ACES," the trains will be owned by a consortium of three casino-hotels — the Borgata, Caesars and Harrah's Resort Atlantic City. It will be operated by NJ Transit at no extra cost to the agency.

It's unclear how many trains will be running on Fridays, Saturdays and Sundays, and the consortium doesn't yet have rider projections.

ACES will depart from New York City's Penn Station. After stopping at Newark Penn Station, the trains will travel through Trenton, following Amtrak's Northeast Corridor line, crossing the Delaware River and continuing north of Philadelphia, where they'll merge onto NJ Transit's Atlantic City Line.

"It's a service that will support one of New Jersey's largest tourist destinations," said Dan Stessel, a spokesman for NJ Transit.

The casinos will pay nearly $15 million to purchase and modify eight new multilevel rail cars, according to the consortium.

The Casino Reinvestment Development Authority, a state agency that provides money for economic development, will pay $4.5 million to NJ Transit toward the purchase four diesel locomotives from Amtrak.

The trains need both electric and diesel cars to accommodate the types of power used on the Northeast Corridor and Atlantic City lines.