Home » CityBoom » Two To A Flush

Two To A Flush

By Chuckmonster on Thursday, 22nd January 2009 4:22pm
tagged:      comments: 1

    Add To Itinerary    

It seems that the swish and swirl of the sinking Atlantic City casino biz is too attractive of a vortex to stay away from. Over the past week it's become an 'everyone into the pool!' affair, turning the casino commode into Caddyshack-esque mayhem.

I'll Take 'Casino Bankruptcy Proceedings' For $1.25B, Alex. With a B.

Trump Entertainment is without question the lowest floating Baby Ruth in this array of floaters. They've stopped paying debts eons ago leaving investors holding the bag... at least until bankruptcy court proceedings begin... *ahem*.

Be the ball, Donny.

I'll Take 'Casino Foreclosures' For $10M, Alex

Now, Resorts AC has jumped into the pool, by defaulting on its mortgage payments, causing financial backer Column Financial div of Credit Suisse to begin foreclosure proceedings against owner Colony Capital.

Apparently, Merv's old joint has been in Jeopardy since October, suspending its mortgage payments at about the same time John McCain suspended his presidential campaign... and we know how that turned out don't we?

I'm definitely more than a little surprised by this... wasn't Colony Capital in the running to buy the Tropicana AC but six short months ago?

PS. Thanks to reader Josh for sending in a bunch of news items while we've been busy tending to other stuff.






Comments & Discussion:

danny noonan. be the ball, danny. as the great philosopher Basho once said, "a flut with no holes is not a flute. and a donut with no hole is a danish"mmmm donuts

Leave a Comment:

Welcome back ! » Profile Settings Faves

Comments are currently closed on CityBoom.
Subscribe via RSS








Recent Comments:

bat55w posted: "I have doubts this will happen based upon the idiots that run Philly, but if it does I will be..."
» Wynn Eyeballs Philly Again...
weatherman2111 posted: "Having gotten lost down there a couple of times it's a surprisign pain in the ass to get back onto..."
» Wynn Eyeballs Philly Again...
mstokes posted: "As if Atlantic City isn't in bad shape as is. Putting a Wynn casino so close won't be helping any...."
» Wynn Eyeballs Philly Again...
bgriffiths posted: "It could be a nice area, there. Yards brewing is a little south of Sugar House - they have a..."
» Wynn Eyeballs Philly Again...
bat55w posted: "I like Tony Luke's better than the touristy spots on the south side of philly(Pat's and Geno's). I do..."
» ACEats: Tony Luke's At Borgata...