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(New Jersey 101.5)   What to do when the fancy pants new casino is plunged so far into debt that it can't pay its taxes? Put it all on red... We've all been there   (nj1015.com) divider line 14
    More: Ironic, The Struggle Continues  
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11032 clicks; posted to Main » on 04 Dec 2012 at 11:54 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-12-04 12:49:58 PM
1 votes:
So their product is ... poor people? I think there is too much supply for that already.
2012-12-04 12:42:15 PM
1 votes:

johnny queso: So the model that Atlantic City should be following for the future is a giant clusterfark that will inevitably end up costing taxpayers money somehow? Is this what they're teaching in business schools?


I would say so, after seeing how the Bush administration treated the banks, it seems to be all about Socialized Risk and Privatized Profit these days.
2012-12-04 12:38:39 PM
1 votes:

H31N0US: AC is terrible. The Casinos have given nothing back to the community, or if they have, it's been purloined by the municipal government. Block after block of dilapidated houses, one block from the beach that should be worth millions yet are all crack dens. People all over the sidewalks all day with nothing to do and nowhere to go...


And all the old ladies in Philly who just want to play slots for 9 hours in a row don't have to go to AC any more. I think AC is headed for some serious bad times. It's not bawdy enough to grab the Vegas crowd, and the hardcore gambling addicts from Philly and NYC have closer destinations now. There are definitely some customers in the middle of those two groups but I don't know if there's enough to support the number of casinos they have.
2012-12-04 12:19:08 PM
1 votes:

heavymetal: Just have them do what Donald Trump does, declare bankruptcy. I am sure all the people who matter already got theirs, that's why it is $1.3 billion in debt. Now let the banks divide what's left.


You must have noticed that nobody actually party to the casino, its operations, or the moneyholding organizations surrounding it were quoted or sourced in any way as well. It's a writer for a casino business magazine pontificating about what might happen, or what may have caused the losses.

Nobody important or party to this will lose a cent out of their own pockets as a result of this "failure."
2012-12-04 12:18:55 PM
1 votes:
How do you not make money running a casino?
2012-12-04 12:12:40 PM
1 votes:
Just have them do what Donald Trump does, declare bankruptcy. I am sure all the people who matter already got theirs, that's why it is $1.3 billion in debt. Now let the banks divide what's left.
2012-12-04 12:12:27 PM
1 votes:
maybe people would go there if that ads didn't make it seem like a hipster fashionista casino. just saying
2012-12-04 12:07:46 PM
1 votes:

chumboobler: They owe 1.3B and the guy is apparently blaming it on some of the bars and banquet facilities not being open? I think they need a new manager


blogs.suntimes.com

Yea, they need someone who will make sure there is the same number of blueberries in every muffin.
2012-12-04 12:01:19 PM
1 votes:
At some point, they have to run out of people with gambling addiction, or those people either ran out of money, joined GA or have killed themselves.

Pretty sad... and I really have no pity for casinos.
2012-12-04 12:00:27 PM
1 votes:
They owe 1.3B and the guy is apparently blaming it on some of the bars and banquet facilities not being open? I think they need a new manager
2012-12-04 11:59:05 AM
1 votes:
Every casino I've known of has managed to pay off its note, and usually do so in at least half the expected time frame.

If you're defaulting then you've elevated yourself to a level of fark-up reserved for only the most special. Even if there's a natural disaster in play.
2012-12-04 11:56:56 AM
1 votes:

Sybarite: The Stealth Hippopotamus: first mistake.


Get your arse over to the blackjack tables.


Pshaw, it's all about craps.


THIS.

Best odds in the house. Or if you just want to get drunk and play a game play Pai Gow
2012-12-04 10:58:44 AM
1 votes:

The Stealth Hippopotamus: first mistake.


Get your arse over to the blackjack tables.


I prefer poker. It's easier to beat a bunch of tired assholes than it is the house.
2012-12-04 10:44:10 AM
1 votes:
first mistake.


Get your arse over to the blackjack tables.
 
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