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.
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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.