The Hilton poker room is closing and apparently I am really late on this. The bad beat at the Hilton is over 100K and when it hits, the poker room is going to close.
So, all you bad beat chasers, get out there and hit it. The room isn't going to be there much longer and the Hilton is begging for someone to hit it so that they can close the room.
Showing posts with label Hilton. Show all posts
Showing posts with label Hilton. Show all posts
Saturday, November 01, 2008
Wednesday, January 09, 2008
Colony Offers $850M for Trop
Check out the latest article from The Press of Atlantic City on the selling of the Tropicana.
LATEST NEWS: Colony Capital makes $850M. offer for Tropicana
By DONALD WITTKOWSKI Staff Writer, 609-272-7258
Published: Wednesday, January 9, 2008
ATLANTIC CITY - Colony Capital LLC, a private real estate investment firm that already owns two Atlantic City gaming halls, has made an $850 million cash offer for the troubled Tropicana Casino and Resort.
Los Angeles-based Colony expressed its interest in a letter to Gary S. Stein, a former New Jersey Supreme Court justice who is overseeing Tropicana's sale in his role as a state-appointed conservator.
Colony spokeswoman Lisa Baker declined to comment Wednesday night. Other company representatives in Los Angeles and New York could not be reached. The Press of Atlantic City learned of the offer from people familiar with Colony's letter.
The Atlantic City Hilton Casino Resort and sister property Resorts Atlantic City are owned by Colony affiliates. Colony tried to acquire Tropicana in 2006 but was outbid by Kentucky-based Columbia Sussex Corp. in a $2.75 billion takeover of Tropicana casinos in Atlantic City and Las Vegas formerly owned by Aztar Corp.
Columbia Sussex, in turn, was denied a new gaming license Dec. 12 by the state Casino Control Commission following a disastrous 11-month reign that included mass job cuts, regulatory violations and complaints of unsanitary conditions and poor customer service. The commission appointed Stein to take charge until the casino is sold.
Interest in Tropicana has intensified in the last two weeks as potential bidders have begun jockeying for position. Connecticut's Mohegan Sun casino is looking at Tropicana as part of its East Coast expansion plans. In addition, a private investment group headed by New Jersey real estate developer Curtis Bashaw and former Atlantic City gaming executive Wallace R. Barr has confirmed it may make a bid for Tropicana.
As owner of two of Atlantic City's smaller casinos, Colony Capital reportedly has been shopping for a large property that would transform it into a major player in the country's second-largest gaming market.
The sprawling Tropicana has 2,129 hotel rooms, 3,400 slot machines and about 150,000 square feet of casino space. However, the aging casino floor and hotel towers are badly in need of renovation to complement Tropicana's tourist-friendly retail and entertainment complex known as The Quarter.
Gaming analysts have estimated Tropicana will fetch between $800 million and $1 billion in an auction. Colony's offer suggests a minimum of $850 million. The buyer likely will have to spend a few hundred million dollars more to refurbish the 27-year-old property.
Other possible bidders include Pinnacle Entertainment Inc., Ameristar Casinos, Penn National Gaming and Crown Ltd., a gaming company headed by billionaire James Packer, Australia's richest man, according to analysts.
One private group seen as a likely bidder is Gomes + Cordish Gaming Management LLC, a newly formed partnership between Dennis Gomes and Baltimore-based retail developer Cordish Co. Gomes was Tropicana's chief executive when it was owned by Aztar, while Cordish is the developer of an Atlantic City shopping and entertainment district known as The Walk.
Founded in 1991 by Thomas J. Barrack Jr., Colony Capital has about $36 billion in real estate and casino holdings worldwide. Colony bought Resorts Atlantic City in 2001 for $140 million. It acquired the Hilton in 2005 as part of a $1.24 billion deal with Caesars Entertainment Inc. and Harrah's Entertainment Inc. for four casinos in New Jersey, Mississippi and Indiana.
To e-mail Donald Wittkowski at The Press:
DWittkowski@pressofac.com
LATEST NEWS: Colony Capital makes $850M. offer for Tropicana
By DONALD WITTKOWSKI Staff Writer, 609-272-7258
Published: Wednesday, January 9, 2008
ATLANTIC CITY - Colony Capital LLC, a private real estate investment firm that already owns two Atlantic City gaming halls, has made an $850 million cash offer for the troubled Tropicana Casino and Resort.
Los Angeles-based Colony expressed its interest in a letter to Gary S. Stein, a former New Jersey Supreme Court justice who is overseeing Tropicana's sale in his role as a state-appointed conservator.
Colony spokeswoman Lisa Baker declined to comment Wednesday night. Other company representatives in Los Angeles and New York could not be reached. The Press of Atlantic City learned of the offer from people familiar with Colony's letter.
The Atlantic City Hilton Casino Resort and sister property Resorts Atlantic City are owned by Colony affiliates. Colony tried to acquire Tropicana in 2006 but was outbid by Kentucky-based Columbia Sussex Corp. in a $2.75 billion takeover of Tropicana casinos in Atlantic City and Las Vegas formerly owned by Aztar Corp.
Columbia Sussex, in turn, was denied a new gaming license Dec. 12 by the state Casino Control Commission following a disastrous 11-month reign that included mass job cuts, regulatory violations and complaints of unsanitary conditions and poor customer service. The commission appointed Stein to take charge until the casino is sold.
Interest in Tropicana has intensified in the last two weeks as potential bidders have begun jockeying for position. Connecticut's Mohegan Sun casino is looking at Tropicana as part of its East Coast expansion plans. In addition, a private investment group headed by New Jersey real estate developer Curtis Bashaw and former Atlantic City gaming executive Wallace R. Barr has confirmed it may make a bid for Tropicana.
As owner of two of Atlantic City's smaller casinos, Colony Capital reportedly has been shopping for a large property that would transform it into a major player in the country's second-largest gaming market.
The sprawling Tropicana has 2,129 hotel rooms, 3,400 slot machines and about 150,000 square feet of casino space. However, the aging casino floor and hotel towers are badly in need of renovation to complement Tropicana's tourist-friendly retail and entertainment complex known as The Quarter.
Gaming analysts have estimated Tropicana will fetch between $800 million and $1 billion in an auction. Colony's offer suggests a minimum of $850 million. The buyer likely will have to spend a few hundred million dollars more to refurbish the 27-year-old property.
Other possible bidders include Pinnacle Entertainment Inc., Ameristar Casinos, Penn National Gaming and Crown Ltd., a gaming company headed by billionaire James Packer, Australia's richest man, according to analysts.
One private group seen as a likely bidder is Gomes + Cordish Gaming Management LLC, a newly formed partnership between Dennis Gomes and Baltimore-based retail developer Cordish Co. Gomes was Tropicana's chief executive when it was owned by Aztar, while Cordish is the developer of an Atlantic City shopping and entertainment district known as The Walk.
Founded in 1991 by Thomas J. Barrack Jr., Colony Capital has about $36 billion in real estate and casino holdings worldwide. Colony bought Resorts Atlantic City in 2001 for $140 million. It acquired the Hilton in 2005 as part of a $1.24 billion deal with Caesars Entertainment Inc. and Harrah's Entertainment Inc. for four casinos in New Jersey, Mississippi and Indiana.
To e-mail Donald Wittkowski at The Press:
DWittkowski@pressofac.com
Saturday, November 10, 2007
Hilton Poker Room Temporarily Moved
I'm pretty late on this, probably because I never go into the Hilton and I also haven't played poker in some time.
The Hilton has temporarily moved its poker room. They swapping it was the Asian games room. The Asian games is a much bigger room and poker has not done well other there. They have a higher rate and a bad beat jackpot, but that is not bringing people into the room.
For now, the room is in the ballroom near the old poker room, presumably because of the complaints of the poker games being in the middle of the casino floor.
The Hilton offers a good deal for players, but it's never going to live up to the better casinos in Atlantic City.
The Hilton has temporarily moved its poker room. They swapping it was the Asian games room. The Asian games is a much bigger room and poker has not done well other there. They have a higher rate and a bad beat jackpot, but that is not bringing people into the room.
For now, the room is in the ballroom near the old poker room, presumably because of the complaints of the poker games being in the middle of the casino floor.
The Hilton offers a good deal for players, but it's never going to live up to the better casinos in Atlantic City.
Monday, August 13, 2007
A.C. Bad Beat Jackpots
The Harrah's properties and the Hilton have Bad Beat Jackpots in Atlantic City.
Here is a list of the current jackpots (as of Monday night).
Bally's: ~ 97,000
Caesars (Didn't answer the phone when I called): less than $20,000. It got hit at $130,000 and then $27,000 recently. It was reseeded to $10,000 just last week.
Harrahs: ??? Apparently it's too busy on a Monday to answer the phone. UPDATE: I was told the jackpot is around $53,000 by a reliable source.
Hilton: ~$27,000
Showboat: $30,363
I'm going to try and update the totals every Friday from now on. This way anyone who wants to come down on the week will know the jackpot totals.
Here is a list of the current jackpots (as of Monday night).
Bally's: ~ 97,000
Caesars (Didn't answer the phone when I called): less than $20,000. It got hit at $130,000 and then $27,000 recently. It was reseeded to $10,000 just last week.
Harrahs: ??? Apparently it's too busy on a Monday to answer the phone. UPDATE: I was told the jackpot is around $53,000 by a reliable source.
Hilton: ~$27,000
Showboat: $30,363
I'm going to try and update the totals every Friday from now on. This way anyone who wants to come down on the week will know the jackpot totals.
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