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Day revel and Showboat Close in Atlantic City Over Labor

Day revel and Showboat Close in Atlantic City Over Labor

The Showboat and Revel Casinos in Atlantic City shut their doors for the time that is final Labor Day weekend. (Image: CapitalOTC.com)

It was the conclusion of the road for Revel and Showboat this week-end due to the fact two Atlantic City casinos shut their doors for good. For casinos in this seaside resort town, Labor Day can be quite a celebratory time of the year. The standard ‘end of summer’ in the usa, the three-day weekend must be a booming time for the brand new Jersey gambling hub, as both gamblers and tourists can come to enjoy a three-day week-end and some great coastline climate.

But also for these two casinos within the beleaguered city, this 12 months’s Labor Day weekend marked the curtain that is final. The Showboat Casino ended a run that is 27-year Atlantic City on Sunday, while the Revel began their two-day shutdown on Monday. The two closures provides the number of casinos into the city down seriously to nine, a number that will drop to eight when the Trump Plaza resort closes later this month.

Showboat Closed Despite Staying Profitable

The Showboat Casino resort ended up being one of four casinos in Atlantic City owned by Caesars Entertainment (Bally’s Atlantic City, Caesars Atlantic City and Harrah’s Resort Atlantic City being the other three), and for the company, that was just one too many within the shrinking market. They hope that closing one casino will gain the remaining three. But tha (more…)

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MGM Resorts Pays $225,000 Settlement to New Jersey

MGM Resorts Pays $225,000 Settlement to New Jersey

Terry Christensen, previous board member of MGM Resorts, imprisoned in 2006 for his role in wire-tapping

MGM Resorts Overseas is desperate to regain a brand new Jersey video gaming license for the first time since 2010, when it attempted to sell its stake within the Borgata and ceased operations in their state.

This has been announced this week that the company will spend a $225,000 settlement to nj-new Jersey regulators to resolve an issue that is decade-old to your shady transactions of its board members.

Since well as serving on the MGM board for nine years, attorney Terry Christensen had been a 40-year legal adviser and personal confidant to billionaire casino mogul Kirk Kerkorian, the company’s major shareholder.

Christensen was indeed president of Tracinda, an investment that is private put up by Kerkorian, in 1987, and he had also assisted set up MGM Grand Air and MGM Grand Corp.

However, in 2006 he was indicted and charged, with celebrity private detective Anthony Pellicano, with bugging the phone of Lisa Bonder, Kerkorian’s ex-wife. Christensen received a three-year prison term while Pellicano got 15 years.

However, the beef with the New Jersey Division of Gaming Enforcement (DGE) appears to be that MGM continued to consult Christensen on a range matters after his resignation from the company’s board and subsequent criminal conviction.

No one with a criminal conviction may be involved in the running of a casino und (more…)

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Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint

Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint and got away with additional than $180,000 from Caesars Atlantic City on Monday.

Things aren’t great right now in Atlantic City. Gambling enterprises are closing, revenues are dropping and profits are drying up after month month. It’s a time when resorts are carefully monitoring every dollar that will come in and out of their balance books. In a nutshell, it’s concerning the worst time possible for a six-figure sum to go missing in one of this city’s casinos.

According to police, two masked thieves walked out of Caesars Atlantic City with additional than $180,000 on Monday after a raid that is smash-and-grab the casino. The robbery reportedly took place on Monday early morning, though police did not immediately release information that is much the facts of the crime. According to USA Today, trooper Alina Spies said that police were investigating the matter, but which they did not want to supply any information that might hinder the investigation that was underway.

Early Morning Robbery

Neighborhood media, citing police sources, stated that the robbery involved two suspects whom entered Caesars Atlantic City around 6 am. One or more of them had a gun and pulled it before stealing two plastic boxes that contained the stolen cash. They then fled the scene in car at approximately 6:20 am, according to a police bulletin.

The truth is being investigated by the New Jersey State Police Gaming Bureau, whi (more…)

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