The Boardwalk can’t catch a break. For the past two decades, Atlantic City’s casino industry has been under siege from gaming competition in neighboring states.
Casinos & Gaming
Landry’s Inc. paid $38 million two years ago to acquire the rundown, money-losing Trump Marina, and analysts immediately predicted the gaming market’s demise. A few years earlier Trump Marina had been valued as high as $315 million.
The opening of the $2.4 billion Revel on the northern end of the Boardwalk in April 2012 was one of the most anticipated events in the market since 2003, when the Borgata was unveiled.
The California Gambling Control Commission has set a July 11 hearing to determine if Galaxy Gaming California LLC, a subsidiary of Las Vegas-based Galaxy Gaming Inc., and its CEO Robert Saucier are suitable to continue doing business in the Golden State.
The owner of the Riviera posted a modest first-quarter loss as the company experienced a major decline in walk-in traffic because of its location on the north end of the Strip near the dormant Resorts World Las Vegas, Fontainebleau and the SLS Las Vegas project.
Affinity Gaming will begin the process next week of renovating the company’s off-Strip Terrible’s Casino at the corner of Paradise and East Flamingo roads to a new name — Silver Sevens Hotel & Casino.
A downtown Toronto resort complex that attracted the interest of Nevada’s largest casino operators appeared dead Friday after the city’s mayor canceled a vote scheduled for next week on the multi-billion dollar development.
Gov. Brian Sandoval said Thursday he has held preliminary talks with other state governors on partnering with Nevada on Internet poker.
The Nevada Gaming Commission on Thursday unanimously approved Pinnacle Entertainment Inc.’s $869 million merger with rival Ameristar Casinos Inc.
Even before The Cosmopolitan of Las Vegas opened in December 2010, analysts were debating how long it would take for the most expensive casino ever built on the Strip to turn a profit.