Archive for the 'Tilman Fertitta' Category
What do you do if you’ve got a purchase agreement with Colony Capital and the latter allegedly reneges on you? If you’re Rational Group, which thought it had a $15 million deal in place to purchase the Atlantic Club Hotel, the answer is simple: “We’ll see you in court.” It would certainly be in character [...]
Uh-oh. This is not good. Tamares Group is going to cease taking room bookings at the Vegas Club. In an ominous phrase, it’s “evaluating its options” for the hotel-casino, whose gambling floor and other amenities are but a pallid shadow of what competing properties, even Tamares’ own Plaza, have to offer. It’s basically dead without [...]
One doesn’t really think of going to shore in March, so it’s no surprise that Atlantic City casino revenues were — excluding Revel — down 14% last month. The latter grossed $10 million, pulling it almost dead even with the Golden Nugget and a bit further behind the Atlantic Club. The surprise bulletin of the [...]
Revel Atlantic City’s day of deliverance is at hand: CEO Kevin DeSanctis has been ousted, along with Chief Investment Officer Michael Garrity. But there’s no need to shed tears over their fate. They will continue “developing amenity projects” for Revel (since they’ve done such a bang-up job to date) and will retain their sinecures with [...]
Today’s top story is the rumor, first aired on LasVegasAdvisor.com that Binion’s Gambling Hall & Hotel will close in July, lock, stock and million-dollar display. This dovetails with an earlier report that a detailed makeover is in the works. So Binion’s could follow the lead of the Plaza and go the short-term-closure route, rather than [...]
It’s time to pay the piper for Boyd Gaming’s $1.5 billion takeover of Peninsula Gaming and Boyd employees are the first ones feeling the pinch. Three vice presidents — including 13-year Boyd veteran Dan Stark — and roughly 250 employees got the chop. This sort of thing is never pleasant, especially for the people getting [...]
A Wall Street Journal story from yesterday evening reports that Pinnacle Entertainment has found a buyer for its 19 acres of Boardwalk land. These were cobbled together at huge cost — $270 million or $14 million an acre — by former CEO Dan Lee (left). His successor, Anthony Sanfilippo, is reportedly flipping them for approximately [...]
For those of us who missed it this year, the best Christmas tradition of which I know.
First and most importantly …
To you, the reader, who makes this possible, a year of happiness, health and wealth, whether material, intellectual or spiritual.
Atlantic City: Good luck in a year that will end with ‘13.’
Boyd Gaming: New TV commercials.
S&G has learned — and LVA staffers have confirmed — that all main-stage shows at Tamares Group’s flagship Plaza Hotel have gone dark until further notice. A promotional appearance by Best Little Whorehouse in Texas cast members at South Point, a National Finals Rodeo tie-in, was nixed due to the shutdown. The plug has, for [...]
This just in … One weekend of performances of Peepshow was all that Mrs. Ice-T managed to do before fleeing back to New York City, at least temporarily, according to an S&G source. So if you’ve got Peepshow tickets this week, I’m afraid you’re screwed.
Prepare to stick a fork in Eli Roth’s Goretorium, which is [...]
Now we know why Steve Wynn was careful to mend fences with Philadelphia Mayor Michael Nutter (below) in 2010 when negotiations to take over the doomed Foxwoods Casino Philadelphia project abruptly feel apart and Wynn skipped town. He’s back with “Wynn Philadelphia,” a 300-room, 100-table, 2,500-slot knockoff of Encore Macau, to be built in stages [...]
No sooner were Wall Street analysts uttering serious concerns about a slow post-Sandy recovery for Atlantic City than who should pop up on CBS This Morning but Caesars Entertainment CEO Gary Loveman, doing damage control …
It’s hard to decide which is funnier: doddering Charlie Rose unwittingly picking at a Loveman sore spot by mentioning Macao, [...]
Actually, a few hardy souls — like fearless restaurateur Montgomery Dahm, who was semper fidelis to his fellow citizens — never closed. Add Tun Tavern to your list of must-see stops when you visit Atlantic City. Ditto Ducktown Tavern & Liquors, which hung tough in the face of Hurricane Sandy. However, although casino owners have [...]
A natural disaster on the East Coast is fast becoming an industry-wide problem, its effects felt as far afield as Iowa, I kid you not. In light of the total havoc Hurricane Sandy has wrought upon travel, particularly by air, Las Vegas will feel an extra chill in the air, too. It seems nearly frivolous [...]
If there’s a saving grace to August’s rather glum Nevada gambling win (-3%), it’s that the month ended on a Friday, so there may be some as-yet-unreported slot revenue that will fluff the September results. (That optimism must be offset, though, by the fact that August 2012 had one more weekend day than the year [...]
In a typically ludicrous Gary Loveman brainstorm, Bill’s Gamblin’ Hall & Saloon is to become — wait for it — Caesars Drai’s. (Yeah, ‘WTF?’ and all that.) Although you’d have to be either masochistic or insane to loan money to Caesars Entertainment at this point, the company has the nerve to ask for $180 million [...]
Since S&G readers can’t view my big Las Vegas guides (unless you’re sitting at a computer in a Hilton-branded property at this very moment), I thought I’d share with you who made the cut. And the Downtown elect are …
Restaurants: El Sombrero; The Golden Steer; Lola’s; Pamplemousse; Forte; China MaMa.
Nightlife: The Lady Silvia; Freakin’ Frog [...]
Stick a fork in the Dennis Gomes legacy at Resorts Atlantic City. Son Aaron Gomes is not only leaving but going halfway around the globe, to team up with former Borgata exec Larry Mullin and reboot Jupiters Gold Coast Casino, Down Under. He’ll have $625 million to spend on the Jupiters’ relaunch, which must [...]
When he took over the Golden Nugget and its Laughlin sibling, Landry’s Restaurants CEO Tilman Fertitta quickly developed a reputation among employees as a skinflint and micromanager. Whether or not the micromanagement has gone by the boards as Fertitta’s Nugget-branded empire expands, the alleged pettiness seems intact. Fertitta bought packs of cards from Kansas City-based Gemaco [...]
OK, let’s take a deep breath and remind ourselves that one swallow doesn’t make a spring and one month doesn’t determine history’s verdict on a casino, but there’s only a single word for $2.4 billion Revel’s first full month of operation: poor. The megaresort grossed $17.5 million, making it the eighth-place finisher for June. So [...]