Atlantic City

Trump Marina To Become Golden Nugget Hotel

The Golden Nugget is coming back to Atlantic City. It has been announced that Landry's, Inc., parent company to the Golden Nugget Las Vegas and Laughlin, has agreed to buy the Trump Marina Hotel and Casino in Atlantic City. The Golden Nugget Atlantic City operated a casino-resort from 1980 to 1987. Tilman J. Fertitta, Chairman, President, CEO and owner of Landry's, Inc. said that the company is excited to bring the brand back to Atlantic City and wants to "transform the Trump Marina into a luxurious and exciting hotel and casino with the highest level of service." The purchase price was $38 million, said to be one tenth of the 2008 offering price.

The Golden Nugget will honor all existing Trump Marina customer points and rewards, not only in Atlantic City but also in the Las Vegas and Laughlin Golden Nuggets. The hotel is located in the Marina District next to Borgata and Harrahs. It's the only casino with a full service marina. Plans include bringing Landry's restaurant concepts into the hotel with a Chart House overlooking the marina, Red Sushi, Lillie's Asian Cuisine and Noodle Bar and Grotto Italian Ristorante and Vic & Anthony's Steakhouse. The entire property will get a refresh with new bars, lounges, shopping and updated rooms and suites. All improvements are expected to be completed before the end of the year.

Tags: atlantic city, golden nugget, trump marina

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Molly Sims Promotes Jewelry Line In Atlantic City

by Deidre Woollard (RSS feed) —

Filed under: Jewelry, Celebrity Design

These days it's not enough for a celebrity to have a jewelry line, she has to work to promote it. Model Molly Sims will at The Water Club at Borgata in Atlantic City to host a trunk show for her Grayce By Molly Sims line on Sunday, July 11th from 10am-6pm at Fixation (located at The Shoppes at The Water Club). She will be appearing in-store from 3-6pm and will be on hand to discuss her new jewelry line, meet customers, sign autographs, take pictures, etc. The Grayce by Molly Sims line includes necklaces, bracelets, rings and earrings with glass crystals in gold and silver plate with prices from $85 to $250.

Molly will also host SUNBAR's Sunday night party at The Water Club. The Water Club recently kicked off Sunday Socials at SUNBAR, a new outdoor nightlife venue, complete with resident DJs, homemade popsicles, and bottle service.

Tags: atlantic city, borgata, Grayce by Molly Sims The Collection, molly sims, The Water Club

Two Reasons To Head To Atlantic City This Weekend: Win Or Give

by Deidre Woollard (RSS feed) —

This weekend is a good one to head to the Borgata and the Water Club in Atlantic City. The Borgata is hosting a Father's Day Giveaway offering prizes every hour on the hour from noon to 7 p.m. Prizes include a Borgata weekend getaway package, Borgata gift cards, a $2,500 shopping spree at at Hearts on Fire® or Borgata Jewels and at 7 p.m. a Porsche Boxster.

To enter insert your My Borgata Card into any slot machine or open a table games rating from 10am to 6:45pm on 06/19/10 and 06/20/10. Winners' names will be announced overhead and displayed on television screens throughout the casino and winners will have 30 minutes to claim the prize at My Borgata Center.

Should you be feeling philanthropic head over to the Borgata's sister hotel The Water Club on Saturday June 19 from 4-5 p.m. That's when our favorite poker player Beth Shak will be auctioning off two bottle of Ace of Spades champagne, the proceeds of which are going to the Children's Hospital of Philadelphia- designed to reduce the suffering and improve the quality of life for children with serious, life-threatening illnesses.

Tags: atlantic city, beth shak, borgata, Borgata Hotel, water club

Trump Beats Icahn In A Battle Over Atlantic City Casinos

by Deidre Woollard (RSS feed) —

Filed under: Wealth

Big money titans Donald Trump and Carl Icahn have been battling for control of the Trump properties in Atlantic City for a while. At one point it looked like Icahn might have the advantage but a judge has ruled that Trump and his partners represent the better deal for creditors of the bankrupt Trump Entertainment Resorts Inc., when a judge. According to Bloomberg News, U.S. Bankruptcy Judge Judith H. Wizmur sided with the bondholders who are owed $1.2 billion. Their proposal included giving Trump a share of his Atlantic City company.

Icahn had been hoping to take over the company and had purchased $480 million in bank debt from banker Andy Beal. In his plan the debt would have been converted to equity, wiping out the bondholders. The winning plan included a promise by billionaire Marc Lasry of Avenue Capital Group to invest $225 million in Trump Entertainment. Under the bondholder plan that $480 million will be reduced by at least $100 million and the rest would be wrapped up in a new bank loan.

The judge went for the bondholder plan partially because it had more support from creditors. Another factor may have been Trump himself. Trump had vowed to take his name off the project if Icahn gained control. There have been a lot of lawsuits and a lot of debate about the value of the Trump name lately but the bondholders determined that the name itself as a brand is worth millions. But don't feel too sorry for Icahn, he still has that unfinished Vegas project, the Fontainebleau to keep him busy.

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Tags: atlantic city, atlantic city casino, carl icahn, donald trump, NJ, Trump Casinos, trump entertainment, Trump Entertainment Resorts

Get Married By Rev Run On Valentine's Day

by Deidre Woollard (RSS feed) —

Filed under: Events

Most people have an idea of what their dream wedding might look like but I bet no one had this vision. The Borgata Hotel Casino & Spa in Atlantic City is inviting couples to share their over-the-top love stories for a chance at winning the "Ultimate Rock N' Roll Wedding!"

The Valentine's Day weekend wedding includes bachelor/ bachelorette parties hosted at Borgata's nightlife venues MIXX and mur. mur. on February 13 with performances by celebrity DJ's Samantha Ronson, DJ Mos, DJ KISS, and DJ Ruckus. After a day of pampering the wedding party will go to the Kid Rock concert hosted at Borgata's Event Center followed by access to the official after-party. The wedding ceremony will be held at Borgata's Gypsy Bar and officiated by founder of Run-D.M.C., Rev Run. The package also comes with a custom wedding cake by Borgata's Executive Pastry Chef Thaddeus DuBois, and accommodations for the couple in Borgata's romantic honeymoon suite. Couples must enter their submissions online at www.borgatanightlife.com.

Tags: atlantic city, AtlanticCity, borgata, contest, kid rock, KidRock, rev run, RevRun, wedding

Carl Icahn Joins Trump Casino Takeover Plan

by Deidre Woollard (RSS feed) —

I thought the story of banker Andy Beal's battle against Donald Trump for control of the Trump Atlantic City casinos was pretty exciting before but it just got a hell of a lot more interesting. Billionaire investor Carl Icahn, who I most recently mentioned for his interest in the stalled Fontainebleau project, has stepped into the action. The NY Post reports that he made a deal to buy a majority of the outstanding first-lien bank debt from Beal, who holds $486 million in first-mortgage liens on the casinos. Icahn has thrown his lot in with Beal to try and revive the Trump casino empire which has filed for bankruptcy several times. This puts Icahn and Beal in direct opposition to Trump and his daughter Ivanka who have thrown their support behind a group of noteholders led by Marc Lasry, who hold roughly $1.25 billion in unsecured debt.

The Post article questions whether this is a personal batlle, after all, Trump and Beal were playing nicely together until November when Trump swung his approval over to Lasry's camp in return for a stake in their version of the restructured company. If, as the article, says Beal was feeling vulnerable to criticism that he lacked casino experience then he's got a very experienced ally in Icahn who has a history of buying bankrupt casinos (including the Stratosphere in Las Vegas) and selling them for big profits. For Trump, there's both pride and money at stake, and neither Icahn or Trump is accustomed to losing so this could be a business battle royale.

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Tags: andy beal, AndyBeal, atlantic city, AtlanticCity, bilionaire, carl icahn, CarlIcahn, donald trump, DonaldTrump, trump

Billionaire Poker Player Battles For Trump Casinos

by Deidre Woollard (RSS feed) —

Donald Trump's Atlantic City casinos might not belong to Trump anymore if billionaire banker and high-stakes poker player Andy Beal has anything to say about it. Beal and Trump were once partners doing battle against another group of bondholders to take control of the three bankrupt Trump Entertainment Resorts Inc. casinos. But now Beal has split from Trump and his Beal Bank has offered to convert its $486 million mortgage on the casinos into majority owner equity. The offer drew criticism from attorneys representing Trump Entertainment bondholders, who have offered to buy the casinos for $225 million. Previously Trump and Beal Bank had offered $114 million in cash for the company but last week Trump withdrew from that deal and instead agreed to back the bondholders in return for an ownership stake in the casinos.

Beal might love the art of the deal even more than Trump. After all, this is a man who won more money in a single day than any other poker player: $11.7 million at the Las Vegas Bellagio casino in 2004. Because of Beal's mortgage on the Trump casinos his bank is first in line among bankruptcy creditors.

U.S. Bankruptcy Court Judge Judith H. Wizmur has given both sides until December 3 to try to negotiate a deal. Wizmur has scheduled hearings to start in January to pick the company's new buyer.

Tags: andy beal, AndyBeal, atlantic city, AtlanticCity, casinos, donald trump, DonaldTrump, trump atlantic city, TrumpAtlanticCity

Harrah's Launches Total Experiences Program

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Planning your group stay in Las Vegas just got a little more streamlined if you are staying at one of the Harrah's Entertainment properties. The brand has launched Total Experiences, a new service that offers complimentary trip planning and insider access for friend and family travel, including milestone birthdays, bachelor parties, girlfriend getaways, reunions and golf trips.

Each group is connected with their own Total Experiences Specialist (one of the friendly faces shown above) who handles all details of the group's itinerary both before and during their stay, booking all reservations, offering insider recommendations, and arranging VIP privileges. It is available to groups of six or more who book at any U.S.-based Harrah's Entertainment resorts in Las Vegas, Atlantic City and beyond, including Caesars Palace, Paris Las Vegas, Caesars Atlantic City and Harrah's Resort Atlantic City. Guests pay for only what they book and can include upgrades like VIP check-in, access to private lounges, VIP club entry, celebrity meet-and-greets, private gaming lessons and behind-the-scenes tours. Trip planning includes on- and off-resort activities like unique insider experiences such as the exclusive chef's table at Guy Savoy or a private gaming table in the Pussycat Doll pit.

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Tags: atlantic city, AtlanticCity, bachelor party, BachelorParty, destination wedding, DestinationWedding, harrahs, las vegas, LasVegas, party planning, PartyPlanning, total experiences, TotalExperiences

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Will Donald Trump Get His Atlantic City Casinos Back?

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Donald Trump is eager to once again have control of Atlantic City casinos but the road to ownership might be a bit challenging. The Wall Street Journal says that while Trump has reached an agreement with Trump Entertainment Resorts Inc., which is in Chapter 11, the deal is fraught with difficulty. Trump's sale must first get the approval from a bankruptcy court judge and he will also have to appease bondholders who the WSJ says hold about $1.25 billion in second-lien debt and could lose that money if Trump's deal goes through. Trump and the firm's top lender, Beal Bank, agreed to invest $100 million in the company and Beal will extend the terms of a $486 million loan until December 2020 from 2012. The question of what the casino company is actually worth may be key to figuring out what its future will be. Trump is a savvy businessman and may have chosen to act now because he thought he could get his company back for a low price.

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Tags: atlantic city, AtlanticCity, casinos, donald trump, DonaldTrump

Spa Week At the Borgata, A Small Splurge

by Deidre Woollard (RSS feed) —

Filed under: Spas

This small splurge is a one-week-only option. The Borgata in Atlantic City is offering a spa week featuring special deals at their Spa Toccare and the Immersion Spa at the Water Club. The Toccare Package includes a Borgata classic room and your choice of a bamboo lemongrass scrub, almond body buff, or the Grand Master B conditioning wrap for $210 + tax. For a bit more of a splurge you can opt for the Immersion package which includes a room in Borgata's Water Club plus a choice of an aromatherapy massage, personalized facial, or a Shirodara Ayurvedic treatment for $250. The Spa Toccare and Immersion Spa Week runs from May 17th to 22nd.

Tags: atlantic city, AtlanticCity, borgata, immersion spa, ImmersionSpa, smallsplurge, smallsplurges, spa toccare, SpaToccare

Donald Trump Flees His Atlantic City Empire

by Deidre Woollard (RSS feed) —

All is not well in the world of the Donald. As Bloomberg reports, Donald Trump and his daughter Ivanka stepped down from the board of Trump Entertainment Resorts Inc. as the company faces a possible bankruptcy next week. Trump, who was chairman of the board, now says he has no idea whether or not there will be a bankruptcy filing. It seems likely. Trump Entertainment has to make a $53 million bond payment by February 17th. The company has already extended this due date four times sine the grace period was up at the end of last year. If an agreement can't be reached either the company will file bankruptcy or the bondholders could force it into involuntary bankruptcy.

Donald Trump still controls 28 percent of the stock. He offered to buy the rest of the company but was turned down by bondholders. Trump Entertainment's three casinos have already been through bankruptcy twice and Trump is reportedly not too happy about having his name attached to a company that could be going down the tubes. The company which was once worth $842 million is now worth just $7.3 million, a mere pittance in Trump terms.

Also at issue is the continued implosion of the Atlantic City resort economy. Gambling fell by 7.6 percent in 2008 as some gamblers stayed away and others went to casinos in other states. Major casinos in the area have either stalled out mid-construction or had to make deep layoffs. The Borgata cut 400 jobs in November and the $2.5 billion Revel casino project may be delayed for at least a year. Even without massive debt, Trump's three Atlantic City casinos would be facing a tough time. Given the economic climate and the amount of money owed it seems they may be doomed.

Gallery: Atlantic City

Gallery: Trump Projects

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Tags: atlantic city, AtlanticCity, donald trump, DonaldTrump

The Borgata's Big Layoffs

by Deidre Woollard (RSS feed) —

Just yesterday I wrote about the troubles facing the Las Vegas Sands and now here comes news about another big casino company, this one in Atlantic City. Businessweek reports that the Borgata Hotel Casino and Spa, the most lavish and successful casino resort in New Jersey's gambling oasis, has just laid off 400 workers due to the worsening economy. The cuts represent five percent of the Borgata's work force, leaving around 7,000 employees. Spokesman Rob Stillwell says these were the first layoffs the Borgata had made. The company expanded recently, opening The Water Club i a $400 million, 800-room hotel this summer.

Times are tough for casino workers in Atlantic City. The four Atlantic City casinos operated by Harrah's Entertainment Inc. have also laid off employees in recent months Over the past year revenues have been slowly falling and September saw the worst-ever monthly drop in revenues, a decline of 15.1 percent. A bunch of ambitious building projects are slated for the area but some may not make it to fruition if the overall economic picture doesn't improve.

Gallery: Atlantic City

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Tags: atlantic city, AtlanticCity, borgata, new jersey, NewJersey

$1.5 Million Worth of Supercars - And No Speed Limit

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Cars & Autos

Supercar Life, the program that allows clients to drive some of the world's most exotic automobiles on a racetrack with no speed limit, traffic or police to spoil the fun, has a number of new events scheduled at the New Jersey Motorsports Park near newly hip Atlantic City over the next couple months. Supercar Life's linup of over $1.5 million worth of wheels includes the Ferrari F430, Lamborghini Gallardo, Porsche 911 Turbo and Aston Martin DB9. The entry fee is $4,990 for the Track Package, which includes tuition from pro drivers in the Rolex Grand-Am series, catered trackside meals, an in-car DVD of your day and a post-event champagne celebration. The Luxury Package ($5,690) adds area hotel accommodations and all ground transportation. Programs in New Jersey are scheduled for August 26, 27, Sept 9 and 10, and Oct 7 and 8. Check out their site here for more details.

Tags: aston martin, AstonMartin, Atlantic City, AtlanticCity, Ferrari, lamborghini, New Jersey Motorsports Park, NewJerseyMotorsportsPark, Porsche, Rolex Grand-Am, RolexGrand-am, Supercar Life, SupercarLife

More New Hotels For Atlantic City

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Like Las Vegas, Atlantic City is steadily trying to move from being strictly a gambling destination into turning into more of an overall vacation spot. Two new hotels go a long way toward furthering that aim. The Water Club is a a $400 million, 800-room hotel built by the Borgata Hotel Casino & Spa which opened earlier this summer. It was quickly followed by the 330-room Chelsea, a retro-modern hotel which has a 1950s/60s theme and is a $110 million makeover of two older hotels.

Both hotels feature lavish rooms, concierge services, spa treatments and fine dining without a roulette wheel or a slot machine in sight. Both are located near casinos, The Water Club is next to the Borgata and the Chelsea is next to the Tropicana Casino, but the focus is on the vacation not the gambling. Atlantic City also has one major advantage over Las Vegas, attractive beaches and ocean views.

Gallery: Atlantic City

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Tags: atlantic city, AtlanticCity, new jersey, the chelsea, the water club, TheChelsea, TheWaterClub, travel, vacation

The Grand at Diamond Beach

by Deidre Woollard (RSS feed) —

Filed under: Estates

We've mentioned before that there are huge hotel expansions underway in Atlantic City, New Jersey but further down the coast the condo market in Diamond Beach, New Jersey is growing too. The Grand at Diamond Beach is a lavish 12-story project that will include two 12-story structures and a six-story building. The $500 million project will be completed in three phases with the first move ins planned for the end of the year. Amenities will include a concierge, pools, spa, fitness center, private beach club and hotel style amenities. The units range in price from $682,000 to $5.2 million and 25 to 30 percent have already been sold.

[via Press of Atlantic City]

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Tags: atlantic city, AtlanticCity, condo, condominium, new jersey

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