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Monday, Feburary 03, 1997 -- Modified March 06

GAMING CHIPS

Boomtown's Reichartz sets sights on Strip

     The former president of Caesars Palace said he plans to transform the company that owns the Boomtown hotel and casino into a mid-level player with a site on the Strip.
      "I don't see mys elf as going to Boomtown," said Dan Reichartz. "I see myself with an opportunity to build a new gaming company."
      The 56-acre Boomtown property, at Interstate 15 and Blue Diamond Road, was opened in May 1994 by a subsidi ary of Majestic Resorts LLC. Reichartz was appointed Wednesday as Majestic's president and chief operating officer.
      "We're going to evaluate the positioning of the property, and ultimately there's going to be a name cha nge," Reichartz said of Boomtown. "There may be opportunities for Majestic to be on the Strip."
      The former decade-long president of Caesars Palace, who resigned his post in November, refused to speculate on where or whe n Majestic could open a Strip resort.
      TRIVIA TIME ... Which earned more on the Las Vegas Strip in 1995 -- quarter slots or dollar slots?
      A PENTHOUSE VIEW ... Penthouse m agazine publisher Bob Guccione said Wednesday he's close to signing a joint-venture partnership to build a Penthouse casino hotel on the Atlantic City, N.J., boardwalk.
      "This is very serious," Guccione told The Press of Atlantic City newspaper. "I'm not in the habit of saying things that aren't seriously about to happen. That's why I've kept my mouth shut, but this looks pretty serious, so I'm not afraid to talk about it."
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      Guccione said he's negotiating with four companies, which he refused to identify, to build a casino.
      He's also looking at building a 1,000-plus-room nongaming hotel in the city.
      GAMING GLOSSARY ... A "jammer" is a casino dealer who can handle any and all types of action.
      ITT WATCH ... An article in the Jan. 20 issue of Business Week magazine asks, "Is Showbiz No Biz For ITT?" The article argues that the company's foray into pro sports and television "hasn't been kind" to company Chairman Rand Araskog and ITT's shareholders.
      "Araskog's biggest gamble has been on h is five U.S. casinos. Poor results at ITT's properties in Las Vegas, Atlantic City, and Tunica, Miss., which the company blamed on increased competition, construction disruptions, and just plain bad luck, helped drive down ITT's stock 37 percent to about 42 in the past six months," reads the story.
      Araskog declined to comment for the article.
      TRIVIA ANSWER ... Quarter slots earned $792,946,000 on the Strip in 1995; dollar s lots earned $612.2 million for the year.
      QUOTABLE ... "Steve Bollenbach is actually my hero. Not only is he a tremendous chief executive, he has tremendous insight into the world of balance sheets." -- Philadelphia- based gaming industry analyst Marvin Roffman, speaking about Hilton Hotels Corp. Chief Executive Officer Stephen Bollenbach.
     Gaming Chips is compiled by Review-Journal writer Dave Berns. Reach him by e-mail at
Dave_Berns@lvrj.com or by telephone at (702) 383-4543.
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