$2.4 Billion Revel Casino to Close in Sept. (2014, loan)
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I wonder how many contractors waiting for their final payments for construction work will never get paid. One of my friends lost their company because Trump when bust on them 20 years ago. And yet somehow Trump is still a billionaire.
I wonder how many contractors waiting for their final payments for construction work will never get paid. One of my friends lost their company because Trump when bust on them 20 years ago. And yet somehow Trump is still a billionaire.
Well sure, you don't get rich by paying other people.
It's crazy that a $2.4 billion building can essentially be worthless.
World's fanciest homeless shelter maybe?
AC is finished as a gambling mecca. Open it up to other parts of the state (sorry, South Jersey Norcross Cartel) before we keep losing out to NY and PA.
EB we've had some battles on these boards but this time you're right, Christie threw support behind this very bad idea. Last thing AC needed was another casino. PA casinos are killing you guys in NJ. I used to make a few trips a year to AC --- haven't been down there in probably 4 years, it's so much easier for me to go to PA casino's. Revel needed to be built at the Meadowlands area instead and then we might be talking a different story.
EB we've had some battles on these boards but this time you're right, Christie threw support behind this very bad idea. Last thing AC needed was another casino. PA casinos are killing you guys in NJ. I used to make a few trips a year to AC --- haven't been down there in probably 4 years, it's so much easier for me to go to PA casino's. Revel needed to be built at the Meadowlands area instead and then we might be talking a different story.
You're right, people always want convenience. AC is 2 hours from the main population centers of NJ. When it was the only game around you'd go out drinking (when you get all those wonderful ideas) and say "Who wants to go to AC?" and make a 2 AM journey at 100 MPH. Now you've got casinos less than an hour away from many people. AC was asleep at the wheel when other states were poaching that limited pool of gamblers. Once they like PA & NY, there's no incentive to go back to sleazy AC.
Trump does not own or manage the proprieties. He Licensed his Name to them after got out of AC years ago... 20?
More recently than that.
There are myriad stories about how Trump projects screw everybody, whether it's investors, contractors or customers. His "art of the deal" is to take his rainmaker share & walk away, or threaten his junk bondholders with bankruptcy, to get them to re-finance at lower interest rates, in hopes of at least recouping their original investment.
My comment on Trump has consistently been, "I'd be a billionaire, too, if only I could get someone to loan me a billion dollars."
You're right, people always want convenience. AC is 2 hours from the main population centers of NJ. When it was the only game around you'd go out drinking (when you get all those wonderful ideas) and say "Who wants to go to AC?" and make a 2 AM journey at 100 MPH. Now you've got casinos less than an hour away from many people. AC was asleep at the wheel when other states were poaching that limited pool of gamblers. Once they like PA & NY, there's no incentive to go back to sleazy AC.
Totally agree with this. And here's the other thing, given the state of AC casinos, I don't understand why they insist on charging exhorbitant prices to stay at their hotels. If you have any history of gambling in AC, they should be comping and begging you to stay Friday and Saturday nights. I'm a poker player so they make basically nothing from me but I have friends I'd bring along that would play black jack, slots, craps etc..
I look up Las Vegas Caesar's properties with my Caesar's rewards card and every night is comped at most of their venues. I check AC hotel rates on Caesar's properties: $200+ for a Friday night and $300-$400 for a Saturday. Get the f out of here...
I for one started going to Sands in Bethlehem PA since it's an hour closer than AC. NJ really needs to wake up and try to recapture northern NJ folks like me who've grown tired of driving 2+ hours each way.
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