The pre-planned Chapter 11 filing wiped out $1.2 billion of the casino’s $1.5 billion in debt, by giving lenders an 82 percent ownership stake.
A proposal to build a major Long Island casino with video slot machines is part of closed-door negotiations to expand casino gambling in New York, according to the head of the Nassau County Off-Track Betting Corp. and a legislative bill.
Casinos can partner with fantasy league operators to let them run the tournaments. The gaming halls can also take entry fees and pay out winnings at casino cages, according to the regulations.
They thought the fallout from Madoff was bad? What if a rostered lunkhead got caught in their gaming hall?
Baseball and blackjack? The owners of the Mets were all in on a 2011 proposal for a casino next to Citi Field, only to be rejected by the Bloomberg administration, according to the New York Post.
The president of Atlantic City’s largest casino workers’ union called on Gov. Chris Christie to sign an Internet gambling bill, saying online betting revenue could make the difference between two or more casinos surviving or having to close.
Last week, Atlantic City reported its annual revenues at just over $3 billion. Pennsylvania’s slots and table games brought in $3.16 billion in gross revenue in 2012, according to the state’s Gaming Control Board.
Closures due to the storm sent Atlantic City’s casino revenue plunging nearly 28 percent last month.
With Hurricane Sandy taking aim at New Jersey, Gov. Chris Christie ordered Atlantic City’s 12 casinos to shut down by Sunday afternoon as part of his statewide emergency declaration.
It is music to the ears of gamblers, and now city residents may be well on their way to hearing their own jingle with their own “gambling destination.”
Super Bowl XLVIII is still nearly a year and a half away, but plans are well underway for the event.
It’s a 100-acre, uncleared location off exit 66 of the Long Island Expressway in Yaphank.
If Gov. Andrew Cuomo succeeds in making table gambling legal in New York, where do you think casinos will crop up? Some are betting on Coney Island.
Deputy Police Chief Ernest Jubilee had assured the public of a police presence in the garages after a carjacking in September left a tourist dead and a friend seriously injured.
Cuomo said that if the Legislature took the necessary steps, he’d spend a year working out the details of a casino plan before attempting a voter referendum on it in 2013.