SEARCH NEWS:

 

Tropicana Exec: Cut Borgata Slack

ATLANTIC CITY – As reported by the Press of Atlantic City Press: "Despite operating a casino located more than a mile away, Paul Rubeli jumped into the thick of Marina District business Wednesday with a vigorous defense of Borgata's performance and a reproach of Harrah's marketing tactics.

"The CEO of Tropicana parent Aztar Corp. told analysts to stop faulting the new Borgata Hotel Casino & Spa for allegedly failing to expand the market.

"Citywide slot-machine and table-games revenue each grew 5 percent during the third quarter even while Borgata's marketing and operations were in their infancy.

"…He said revenue growth could accelerate in the seasonally slow winter as Borgata's advertising and 2,000 hotel rooms draw more visitors.

"Rubeli took issue with anyone who questions Borgata's first quarter of results, which showed cash flow of $30.5 million and net revenue of $150 million. Borgata's share of slot revenue exceeded its share of slot machines by 15 percent and it quickly became the market leader in table-games revenue.

"…Rubeli, an outspoken critic of cash giveaways to gamblers, chastised Harrah's Entertainment for doubling the cash-back rewards to premium players at Harrah's Atlantic City and Showboat…"

< Gaming News