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Joe Weinert Gaming Guru - Page 5Atlantic City Roundup20 May 2003
ATLANTIC CITY -- Just 45 days after boasting record results for 2002, the Atlantic City casino industry reported a decidedly worse first quarter for the new year.
Gross operating profit at the 11 casinos declined 12.3 percent, to $237.6 million, on net revenue of $957.5 million, down 4.3 percent, ... (read more)
Atlantic City Round-Up12 May 2003
ATLANTIC CITY -- The former Caesars Atlantic City president, stripped of his gaming license due to problems he blamed on compulsive gambling, lost his bid to rejoin the casino industry.
In a unanimous decision, the New Jersey Casino Control Commission said Gary DiBartolomeo should not be allowed early reapplication because his past misconduct was too severe. ... (read more)
Atlantic City Roundup5 May 2003
ATLANTIC CITY -- Atlantic City casinos will offer the city's 34 million visitors something new this summer: Booze on the beach.
Caesars, Trump Plaza and Hilton are taking advantage of a new city ordinance that allows casinos to operate open-air bars just yards from the surf of the Atlantic Ocean. ... (read more)
Atlantic City Roundup28 April 2003
ATLANTIC CITY -- The Atlantic City casino industry is in for some tough times if gambling expands throughout the Northeast as expected, according to experts attending the second annual New York Gaming Summit in Albany.
"New Jersey's got a whole lot to lose," said Mitchell Etess, executive vice president of the Mohegan Sun casino in Uncasville, Conn. ... (read more)
Atlantic City Round-Up22 April 2003
ATLANTIC CITY -- Southern New Jersey legislators and the Atlantic City gaming industry are discussing an increased casino-parking fee and a so-called "IGT tax" to avoid paying the direct casino taxes proposed by Gov. James McGreevey.
In addition, some Democrats are suggesting a graduated gaming ... (read more)
Atlantic City Round-Up15 April 2003
ATLANTIC CITY -- What matters most when checking a gambler,s credit information: the intent
or the accuracy?
The New Jersey Casino Control Commission decided that accuracy rules and
ordered Trump Taj Mahal to pay $176,776 in back gaming taxes, interest and
penalties for failing to properly verify ... (read more)
Atlantic City Round-Up25 March 2003
ATLANTIC CITY -- If New Jersey Governor James McGreevey wants to place video lottery terminals at racetracks, he must first win a popular vote on the issue.
That's the conclusion of Herbert Stern, an influential lawyer who also happens to be counsel to the Casino Association of New Jersey, the trade group ... (read more)
Atlantic City Round-Up17 March 2003
Some 10 months after it first attempted to shop a bond deal critical to the future of Trump Marina Hotel Casino in Atlantic City, Donald Trump's casino company priced $490 million in mortgage notes.
Trump Hotels & Casino Resorts had to repeatedly sweeten the offer to entice investors concerned ... (read more)
Atlantic City Round-Up10 March 2003
ATLANTIC CITY -- Mother Nature may have dealt Atlantic City casinos their worst month ever in
February.
The brunt of the snowiest winter on record, most of which fell over the usually
high-volume Presidents Day weekend, caused a 12.8 percent decline in citywide
gaming revenue, according to preliminary results. ... (read more)
Atlantic City Round-Up4 March 2003
ATLANTIC CITY -- Credit-card companies would be out of luck collecting gambling debts from New Jerseyans if the transaction on their card were not made directly by the cardholder, under a bill advancing in the state legislature.
The bill would void credit-card transactions if the creditor knew, or ... (read more)
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