Profits down 15% in expanded Atlantic City casino market Profits fell due to a decrease in operating costs of 15.4 percent or $582 million. The Washington Post stated, “The Borgata reported the biggest decline in profits, down 18.8% to $206 million, a figure that was about twice that of its nearest competitor. Caesars was down 15.4% to $79.6 million; Harrah’s was down 6.5% to $109.3 million; Bally’s was down 5.7% to $40.1 million, and Resorts was down 2.7% to $22.5 million.” http://bit.do/ePX3v
4/18/2019 Bruce Diefik, who blew through $70 million of his own money reopening the former Revel casino hotel in Atlantic City as the Ocean Casino Resort, died recently of injuries from a car crash in Denver. Deifik lost his stake in the property in January after the hedge fund Luxor took control of the property which Deifik purchased from Florida investor Glenn Straub for $229 million. The casino closed in 2014 after a series of bankruptcies (Amy Rosenberg, Philly.com). http://bit.do/ePXf8
4/18/2019 Sands casino fined. Sands casino was fined for allowing underage betting. Sands owes $235,000 in fees.
4/13/19 Don Basco’s Prep Casino Night!
On April 13th, we had a successful event at Don Basco’s with lots of casino games! There was a buffet with delicious food and a huge bar. This was our second annual event; thanks for everyone for coming to the party!