Tag Archives: Atlantic City

US Supreme Court sets December date for New Jersey sports betting appeal

The Washington Post has revealed that the US Supreme Court is set to hear ‘oral arguments’ put forward by New Jersey officials protesting the federal block which prohibits the state from allowing sports betting in licensed premises (casinos & racetracks). Updating its calendar, the Supreme Court has scheduled the date of 4 December to hear New Jersey’s appeal against the …

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Atlantic City casinos under threat from union strike

\ Five of Atlantic City’s eight casinos are in fear of operational havoc if union Unite-HERE ‘Local 54’ forces a worker strike on 1 July. Representing a workforce of 10,000 members, the union is seeking employee benefits and compensation by Caesars Entertainment casinos Bally’s, Caesars and Harrahs and the Carl Icahn gambling enterprises of the Taj Mahal and The Tropicana. …

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Boyd Gaming sells 50% stake in Borgata to MGM International

US casino and leisure operator Boyd Gaming Corporation (Boyd) has agreed to sell its 50% stake in Atlantic City’s Borgata casino complex to MGM Resorts International (MGM) for a reported $900 million. Boyd’s stake is set to be acquired by MGM property subsidiary ‘MGM Growth Properties’ with the deal expected to be completed by Q3 2016. MGM will take over …

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Atlantic City loses half its gambling revenues since 2006

Figures published by the New Jersey Division of Gaming Enforcement have shown that Atlantic City has lost nearly half its casino revenue over the past eight years. The dramatic decline has seen Atlantic City net revenues drop from $5.2 billion in 2006 to $2.74 billion in 2014, as a poor US economy combined with competition from nearby states has impacted …

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Ichan strikes union deal to save Trump Taj Mahal

Billionaire investor Carl Ichan has brokered a last minute deal with Trump Entertainment Resorts workforce union representatives to save the closure of the Trump Taj Mahal, Atlantic City’s second biggest casino. Ichan Enterprise currently owns $292 million of Trump Entertainment debt, the firm stated that it would take over the casino operations and inject operating capital if the New Jersey …

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Governor Christie calls for Atlantic City commercial meeting

Having vetoed the passing of the New Jersey Sports betting bill last week, Governor Chris Christie has asked for a special meeting of New Jersey legislative leaders to address concerns regarding Atlantic City. The meeting scheduled for September 8, will look to study the causes for Atlantic Citys declining commercial performance, which has affected state funding. Christie’s office  further highlighted …

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US Supreme Court rejects New Jersey sports betting appeal.

The US Supreme Court announced this Monday that it would not consider Governor Chris Christie bid to bring legalised sports betting to the state of New Jersey. In a written order, the Supreme Court stated that it had declined to review the appeal submitted by Christie. Christie had asked the Court to review federal policy that denies betting on sports …

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