Learning to love the Boardwalk again

In a surprising — but not unwelcome — turn of events two Philadelphia casino investors are looking at getting into Atlantic City. It’s amazing the effect legalized Internet betting can have. Business partners George Miller and Kevin Flynn own 0.5% of Harrah’s Philadelphia, but they’re shopping on the Boardwalk these days. Naturally, the Atlantic Club Hotel ranks highest among the probable candidates for a purchase but Miller says he’s looking “all over the place.”

We already know that Tilman Fertitta has quickly soured on the Golden Nugget Atlantic City and is talking sale. Trump Plaza is on the market. Miller mooted Revel as a takeover candidate (unlikely, IMO) or parlaying his relationship with Caesars Entertainment into a purchase of the Showboat. Caesars owns such a large share of Atlantic City business that I’d be surprised if it sold a casino at this juncture, but the company is trying to expand in so many directions simultaneously that extra cash in the till would be undoubtedly welcome. Then there’s the question of 2UP Gaming and whatever became of its Atlantic City ambitions?

After a couple of flirtations with the Hard Rock Hotel & Casino and Boyd Gaming‘s now-extinct Echelon, hotelier Michael Achenbaum has had a happy landing at the former Barbary Coast. Achenbaum, president of Gansevoort Hotel Group, credits the chance of getting to work with nightclub boss Victor Drai with helping seal the deal. The small scale of the property was another lure. (“I personally wouldn’t do 1,100 or 1,600 room keys. That just seems like every other hotel in Las Vegas.” True that.)

Judging by the renderings that Gansevoort has released, we will have little or no cause to mourn what used to be the Barbary Coast. Its new form has considerable “curb appeal” and those dinner tables at Giada De Laurentiis‘ restaurant, with their Strip views, will be prime real estate. Better bring your American Express gold card.)