Trump Taj Mahal Sold For Pennies on the Dollar

Donald Trump ascends the stairs with his fist raised after the opening of the Trump Taj Mahal Casino Resort in Atlantic City, N.J. on April 5, 1990.

Donald Trump ascends the stairs with his fist raised after the opening of the Trump Taj Mahal Casino Resort in Atlantic City, N.J. on April 5, 1990.

When Carl Icahn announced his wish to sell Atlantic City’s Trump Taj Mahal back in February, Hard Rock International swooped in a month later to divest the billionaire of the shuttered casino. And now, the price of the deal has been revealed.

According to documents filed with the SEC, Icahn got just $50 million for the property, which President Trump built for $1.2 billion in 1990, the AP reports.

When Trump opened up the casino nearly 30 years ago, he called it the “eighth wonder of the world,” and the grand opening even featured an appearance by Michael Jackson who got an exclusive Trump-led tour of the space. About 75,000 spectators were also present to witness the opening of the 4.2 million square feet casino that housed crystal chandeliers worth $15 million, suites that went for $10,000 a day, 3,000 slot machines and 167 gaming tables that could accommodate 17,000 players. Read more »

Shuttered A.C. Casino to Reopen as Indoor Water Park

An aerial view of the beach and casinos in Atlantic City.

Aerial View of Atlantic City. Photo | Wikimedia Commons.

Building on a chain of recent deals in Atlantic City, Ventnor-based R&R Development Group announced on Monday that it has entered into an agreement to purchase the shuttered Atlantic Club, which they won’t reopen as a casino. Instead, the group has plans to open “Dolphin Village at Atlantic Club,” a non-gambling family resort complete with an indoor water park.

Atlantic Club has been non-operational since 2014, and the plans want to breathe life into the space. The remodeled space will include a hotel — they hope to have 300 rooms open by the fall, according to the Press of Atlantic City — restaurants and a large arcade. The casino floor will also be turned into a go-cart track.  Read more »

South Philly Casino: Dealers Expected to Make $70,000

live-casino-rendering-10th-street-perspective.0.168.4000.1914.752.360.c

A rendering of the Live! Hotel & Casino in South Philadelphia.

The leadership team behind the forthcoming $450 million casino in South Philadelphia’s stadium district has released a comprehensive plan outlining its hiring practices. Stadium Casino LLC — a partnership between the Cordish Companies and Greenwood Gaming and Entertainment Inc., owners of Parx Casino — is promising the following: Read more »

Court Upholds Weight Restrictions for “Borgata Babes”

(Jeff Fusco)

(Jeff Fusco)

Casinos can legally regulate the weight of their waitresses, a New Jersey court has ruled.

On Thursday, a New Jersey appeals court upheld a lower court decision finding that the Borgata Hotel Casino & Spa is legally allowed to have weight restrictions for its waitstaff, according to a report from the Associated Press. Called Borgata Babes, the waitresses wear scantily clad outfits (corsets, high heels and stockings) and violate the company policy if they gain or lose seven percent of their body weight. Two were laid off for violating the policy. Read more »

DO THIS: ActionAIDS Fundraiser “Glamsino Royale” Comes to Hotel Palomar

Via Shutterstock.

Via Shutterstock.

Full disclosure: last year when I attended Glamsino Royale, the casino benefit thrown by ActionAIDS, I had a little too much fun. Evidence is provided below …

Glamsino Buttler

But in all seriousness, the fundraising evening, which transforms the Hotel Palomar into a high-rolling very gay casino for one night, is one of the best events in the city. This party for a purpose benefits the great work that ActionAIDS does throughout the Philadelphia region: the organization is “committed to creating an AIDS-free generation through a combination of proven strategies,” including “case management, HIV testing, prevention education, supportive housing, HIV treatment as prevention and volunteer services.”

Read more »

Blatstein, SugarHouse Appeal Casino Decision

Rendering of Live! Hotel and Casino via PlanPhilly

Rendering of Live! Hotel and Casino via PlanPhilly

The Inquirer reports this morning that last month’s decision to permit a second Philly casino in South Philadelphia is being appealed by the losing bidders and by the city’s first (and still only existing) casino.

The plaintiffs include developer Bart Blatstein, the SugarHouse Casino, and the two other losing bidders. They note that the winning bidder, Live!, has the same ownership as Parx Casino in Bensalem.
Read more »

Senator: Lack of Diversity in Philly Casino License

Here’s a statement from Sen. Vincent Hughes that’s come across the transom in the wake of the announcement that the PA Gaming Control Board has awarded the second casino license to Stadium Casino LLC, aka Live! Hotel and Casino:

“I am extremely disappointed to learn that qualified minority-owned companies will not be given the opportunity to participate in Pennsylvania’s gaming industry. The Gaming Control Board had an opportunity to ensure that the second casino license in Philadelphia was awarded to an investor group that reflected the demographics of our city. That did not happen. This is another missed opportunity to promote minority-owned businesses in a statewide industry that has been very successful thus far with the exception of diversity.

Read more »

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