Courtesy of Press of Atlantic City:
MGM may want to roll the dice at Bader Field
By DONALD WITTKOWSKI Staff Writer, 609-272-7258
Published: Wednesday, October 31, 2007
ATLANTIC CITY - Gaming giant MGM Mirage Inc., which already plans to build a $5 billion megaresort that would redefine the Atlantic City market, put itself in line Tuesday to develop another major site if the land is rezoned for casinos.
While other gaming companies are opposed to opening up Bader Field for casino development, MGM's chief executive would like to see the 140-acre former municipal airport transformed into a casino attraction.
"If and when the governor, the City Council and the other powers that be determine that is an area that could be developed into resort casino development, we would be very interested in it," said Terry Lanni, MGM's chairman and chief executive officer.
Lanni's comments, made during an MGM conference call to discuss the company's third-quarter earnings, likely will put intense pressure on political leaders to reach agreement on Bader's redevelopment. Already, Las Vegas casino mogul Steve Wynn has promised to build a massive casino resort if he is given control of the site.
Alluding to Wynn, Lanni said he is concerned about press reports that suggest the city has already anointed Wynn as its preferred developer, although no decisions have been made while political debate continues on Bader Field's future.
"If I read the press, it just seems like one company has been assigned that particular site, and I think that's a mistake, because I know a number of us who are interested in that site," Lanni said, without divulging the names of other possible developers.
At the same time, some casino companies are vigorously opposed to converting Bader into a casino site. Dan Lee, chairman and CEO of Pinnacle Entertainment Inc., has threatened to abandon his company's plans for a $1.5 billion gaming resort on the site of the old Sands Casino Hotel if Bader is approved for casinos.
Lanni argued that opponents should not fear the extra competition. Combined with new casino projects across town in the Marina District, Bader's redevelopment could dramatically reshape Atlantic City into more of a Las Vegas-style tourist destination that would brush aside competition from the modest slot parlors in Pennsylvania, he said.
"If we have a must-see site that is a destination resort ... we believe that will more than offset what is happening in Pennsylvania," Lanni said. "To date, as you know, Pennsylvania has slot houses, basically."
Pennsylvania's slot parlors are largely to blame for a nearly 5 percent drop in Atlantic City gaming revenue in the first nine months this year. If trends hold, 2007 will represent the first annual decline in revenue since casino gambling began in 1978.
Meanwhile, MGM's interest in Bader Field comes as the company is moving forward with plans for a $4.5 billion to $5 billion project in the Marina District that would be the city's largest and most expensive casino ever.
The 3,000-room development, expected to open in 2012, will rise on a 72-acre site next to Borgata Hotel Casino & Spa, which MGM jointly owns with Boyd Gaming Corp. The posh Borgata, the top-grossing casino, has proved that the market is ready for affluent New York customers who previously rejected Atlantic City as too mundane, Lanni said.
"Atlantic City has one opportunity to develop destination resorts that are second to none," he said. "They're the premier resorts on the East Coast and they would attract the New York rejectors as well as people from the Philadelphia marketplace."
MGM's proposed casino would cater to a more upscale crowd by offering an array of high-end retail shops, restaurants and entertainment to complement the gaming action. Lanni noted that MGM has reserved 12 acres of the site for possible development of luxury condominiums.
"We will build a destination resort that will keep people coming to Atlantic City and staying for a lot longer period of time than they have in the past," he said.
While most of his remarks focused on Bader Field and the company's $5 billion casino project, Lanni also noted that MGM is considering offers for a 14-acre parcel it owns next to Trump Marina Hotel Casino. He said the value of the site has grown tremendously because of MGM's casino plans across the street in the Marina District.
"There is significant interest in outright purchasing, a joint venture, anything you can possibly name," Lanni said.
MGM currently is embroiled in a court fight with a would-be condo developer who wanted to buy the 14 acres, but failed, and then sued to try to gain ownership. A Superior Court judge ruled in MGM's favor in February, but the developer has appealed.
"We won the original case, but it's on appeal, so it's probably more prudent for us to wait through the legal process before we do anything," Lanni explained of the development options.
To e-mail Donald Wittkowski at The Press:
DWittkowski@pressofac.com
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Parece que MGM Miragem é interessada em mais Bader Field. MGM diretor geral Terri Lanni Diz que são interessados em edifício aí deve a possibilidade surge. . pessoalmente eu espero que Steve Wynn recebe a propriedade!
Wednesday, October 31, 2007
Thursday, October 25, 2007
Revel Entertainment... again.
Revel Entertainment seems anxious to start the development of their new resort that will hold almost 4,000 hotel rooms, luxury retail, restaurants, and pleanty of luxurious amenities.
On November 7th, Revel is planning to release thier renderings of their casino to the public. Hopefully we'll be pleased! They also plan to break ground in early November.
Keep Watching for news!
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O divertimento de divertimento liberará interpretações públicas de seu novo 2 bilhões de cassino de dólar em novembro 7 e também planos começar a construir em novembro cedo.
Mantenha observar para notícia
On November 7th, Revel is planning to release thier renderings of their casino to the public. Hopefully we'll be pleased! They also plan to break ground in early November.
Keep Watching for news!
---
O divertimento de divertimento liberará interpretações públicas de seu novo 2 bilhões de cassino de dólar em novembro 7 e também planos começar a construir em novembro cedo.
Mantenha observar para notícia
Monday, October 22, 2007
Revel Entertainment Casino
Also, another really exciting project to be built along the Atlantic City boardwalk is a project by the newly formed Revel Entertainment Group. The Company has made it clear that at their 20+ acre site directly north of the Showboat Casino on the boardwalk, they want to build an extravagant resort with about 4,000 rooms over two phases and also, as most new projects do, have an upscale shopping galleria, accompanied by gourmet and celebrity chefed restaurants, great clubs, and other amenities including a glitzy Las Vegas styled wedding chapel. This casino should be open by 2011 or 2012 along with Pinnacle and MGM. Their website is http://www.revelentertainment.com/
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Também, outro projeto realmente animador ser construído ao longo do passeio de tábuas atlântico de Cidade é um projeto pelo Divertimento Divertimento Grupo recentemente formado. A Companhia deixou claro que em seus 20 + local de acre diretamente norte do Showboat Cassino no passeio de tábuas, eles querem construir um refúgio extravagante com aproximadamente 4.000 lugares mais de duas fases e também, como mais novos projetos fazem, têm um galleria de compras de upscale, acompanhado por gastrônomo e restaurantes de chefed de celebridade, grandes clubes, e outras amenidades incluindo um Las vegas reluzente capela desenhado de casamento. Este cassino deve estar aberto por 2011 ou 2012 junto com Cúpula e MGM.
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Também, outro projeto realmente animador ser construído ao longo do passeio de tábuas atlântico de Cidade é um projeto pelo Divertimento Divertimento Grupo recentemente formado. A Companhia deixou claro que em seus 20 + local de acre diretamente norte do Showboat Cassino no passeio de tábuas, eles querem construir um refúgio extravagante com aproximadamente 4.000 lugares mais de duas fases e também, como mais novos projetos fazem, têm um galleria de compras de upscale, acompanhado por gastrônomo e restaurantes de chefed de celebridade, grandes clubes, e outras amenidades incluindo um Las vegas reluzente capela desenhado de casamento. Este cassino deve estar aberto por 2011 ou 2012 junto com Cúpula e MGM.
If you didnt know already....
MGM Mirage has proposed a gigantic casino/resort project adjacent to the Borgata. It will have around 3,000 hotel rooms (more could be a possibilty in expansion projects), over 5,000 slot machines and hundreds of casino tables in Atlantic City's largest Casino. Also, expect a luxury shopping esplanade, gourme
t restaurants and a luxury spa component.
t restaurants and a luxury spa component.---
MGM Miragem propôs um novo projeto belo de cassino em Cidade atlântica ao lado do Borgata. O novo cassino e refúgio terão aproximadamente 3.000 lugares de luxo, e uma área gigantesca de Cassino com mais de 5.000 caça-níqueis e centenas de jogos de tabela. Você também deve esperar gallerias luxuoso de compras, e uma estância bela e componente de piscinha.
Saturday, October 20, 2007
The Walk
The Walk-Atlantic City outlets just keeps on expanding and expanding onward.
Recently, a few new stores and restaurants opened, such as Long Horn Steakhouse, and other stores. Watch for more info becuase the Walk is soon breaking ground on another expansion, which could include luxury condos and a boutique hotel.
Keep Watching for news!
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O passeio em Cidade atlântica somente mantem aumentando e maior.
Algumas semanas há, o centro de saída abriu alguns novos armazéns e restaurantes incluindo Longhorn Steakhouse.
O Cordish, a companhia atrás do redevelopmente, planeja começar a construir em novos armazéns, restuarantes, condomínios e talvez, um hotel de butique através da rua do centro existente.
Recently, a few new stores and restaurants opened, such as Long Horn Steakhouse, and other stores. Watch for more info becuase the Walk is soon breaking ground on another expansion, which could include luxury condos and a boutique hotel.
Keep Watching for news!
----
O passeio em Cidade atlântica somente mantem aumentando e maior.
Algumas semanas há, o centro de saída abriu alguns novos armazéns e restaurantes incluindo Longhorn Steakhouse.
O Cordish, a companhia atrás do redevelopmente, planeja começar a construir em novos armazéns, restuarantes, condomínios e talvez, um hotel de butique através da rua do centro existente.
The Sands Implosion
Last Thursday night was the demise of Atlantic City's Smallest Casino. Pinnacle Entertainment of Las Vegas bought the aging casino for a reported 250 MM last year and closed it on November 11th, 2006 with intentions of imploding it later. Pinnacle also bought land around the casino including the land abutting the Boardwalk infront of the existing Sands. Pinnacle also baught another existing smaller Non-Casino hotel next to the existing Sands Parking Garage, and added it to their portfolio of land. Pinnacle has made it public that they intend to build a mega-gambling and entertainment palace costing about 2 Billion dollars. It would most likely include about 2,000 rooms, luxury shopping, restaurants, clubs, and entertainment space. Kim Townsend, who is overseeing the development of the project insists that this is the awakening of the Atlantic City market, and Atlantic City will be like Las Vegas in the next 10 years.
Anyway, more about the implosion.
There was a very long and beautiful display of Fireworks that adorned the White walls of the Sands Casino tower. After a suspenseful 6-10 minutes of fireworks, one could see the explosions of dynamite reflecting through the glass windows. After another few seconds, the western side of the tower began to fall backwards, followed by the middle, and then followed by the Eastern Facade of the building. The last side to fall was bright with lights shining on it, and the Sands Logo on the building seemed to fall trustingly backwards, never to stand anymore. Soon after, a huge ploom of dust flew up into the atmosphere making a mushroom-cloud like dust ball.
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O Implosion do Hotel de Areias e Cassino era uns acontecimentos extravagantes, caracteriza fogos de artifício, e um colapso muito alto. A apresentação era aproximadamente 15 minues longo, e beleive me, era uma visão muito extraordinária. Em seu lugar, Divertimento de Cúpula de Las vegas em planejar construir um 2 bilhões de refúgio de dólar com mais de 2.000 conjuntos de hotel de luxo e caracterizará compras de luxo, jantar, e um centro de acontecimento.
Anyway, more about the implosion.
There was a very long and beautiful display of Fireworks that adorned the White walls of the Sands Casino tower. After a suspenseful 6-10 minutes of fireworks, one could see the explosions of dynamite reflecting through the glass windows. After another few seconds, the western side of the tower began to fall backwards, followed by the middle, and then followed by the Eastern Facade of the building. The last side to fall was bright with lights shining on it, and the Sands Logo on the building seemed to fall trustingly backwards, never to stand anymore. Soon after, a huge ploom of dust flew up into the atmosphere making a mushroom-cloud like dust ball.
---
O Implosion do Hotel de Areias e Cassino era uns acontecimentos extravagantes, caracteriza fogos de artifício, e um colapso muito alto. A apresentação era aproximadamente 15 minues longo, e beleive me, era uma visão muito extraordinária. Em seu lugar, Divertimento de Cúpula de Las vegas em planejar construir um 2 bilhões de refúgio de dólar com mais de 2.000 conjuntos de hotel de luxo e caracterizará compras de luxo, jantar, e um centro de acontecimento.
Introduction to The Atlantic Source
The Atlantic Source
Your One Stop Place for whats happening in Atlantic City!
This site will discuss the new developments, news and everything that is going on in this very exciting time for Atlantic City. Of course, there will be dirt, along with bumps in the road, but sooner or later, Atlantic City will be the east-coasts answer to Las Vegas.
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Receba a meu blog. Está sobre os desenvolvimentos que surgem ao redor de Cidade atlântica. Desde que eu também falo português brasileiro, eu thaught que talvez seja uma coisa amável escrever tanto inglês e português, então podia todo lê meu blog. Gostaria de para todos vocês comentar por favor, se comentasse em português, mesmo melhor.
Muito obrigado!
Your One Stop Place for whats happening in Atlantic City!
This site will discuss the new developments, news and everything that is going on in this very exciting time for Atlantic City. Of course, there will be dirt, along with bumps in the road, but sooner or later, Atlantic City will be the east-coasts answer to Las Vegas.
---
Receba a meu blog. Está sobre os desenvolvimentos que surgem ao redor de Cidade atlântica. Desde que eu também falo português brasileiro, eu thaught que talvez seja uma coisa amável escrever tanto inglês e português, então podia todo lê meu blog. Gostaria de para todos vocês comentar por favor, se comentasse em português, mesmo melhor.
Muito obrigado!
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