Resorts Casinos to Launch Online Gambling Initiative

The numbers are in, and Resorts Casinos is about to make a change. They have netted a profit from 2014, raking in over $139 million. However, they are still short of the next ranked casino by about $45 million. To close this gap, it has been announced that they are opening a trial period for online gambling. It will be the fifth casino in AC to begin online offerings. While that $45 million looks like a steep goal, they have been steadily improving, up over 6% from 2013. Internet gambling has been increasing too, though it is a far ways from what Governor Christie projected. For more info, check out’s coverage.

Showboat Casino to Become a College Campus

Greg Roselli - Showboat Casino

Showboat Casino, Atlantic City

Spokesperson for the southern New Jersey College announced they are soon to have a new satellite campus located in Atlantic City’s iconic Showboat Casino. From March, 1987 to August, 2014, Showboat and its Mardi Gras themed atmosphere has been one of the most famous casinos of Atlantic City, shifting ownership a few times over the years, but never losing its glamor.

After the abrupt closing of Showboat this year, from its 2100 employees, roughly 470 were reincorporated in other Caesar casinos. Stockton College’s President says he hopes to not only fuel the college’s educational growth, but also bring about new academic opportunities to the untapped area of Atlantic City. The deal is still in the early stages for detailed information and due to a confidentiality agreement, the price and closing date could not be disclosed.

Showboat is one of the four Atlantic City casinos to be shut this year with a loss of approximately 8,000 jobs. Showboat, still profitable, was shut down regardless by Caesars Entertainment to cope with the falling revenue and the rising competition in Atlantic City. Showboat is not the first of its kind to be repurposed in the Atlantic City area; the former Claridge casino is now a non-gambling hotel while Atlantic Club is now owned by TJM Properties who are yet to announce their intentions for it.

The Chairman and CEO of Caesar’s Entertainment, Gary Loveman explains that Caesar’s opts for deed restrictions which prevent the casinos being reopened as casinos because Caesar’s is striving towards a transformed Atlantic City  which offers a diverse array of reasons for people to visit. And of course, there is the added benefit of no new competitions!

He believes the Stockton campus,  with all of its 28 acres and 1,425,000 square-foot building, will play an instrumental role in the City’s diversification. Atlantic City is known for its its gambling scene and casino lifestyle and Mr. Loveman may be on the right track in predicting that having a college campus may help change its somewhat notorious reputation.

For full article, click here.


Greg Roselli – Genting construction to begin in 2014

Re-Blogged by Greg Roselli

Last week, the Nevada Gaming Commission found Malaysian conglomerate Genting Berhad suitable to do business in the state; and company officials reported that construction would begin in summer 2014 on the $4 billion Resorts World Las Vegas, which will be located on the 87-acre north Las Vegas Strip site of the former Stardust casino hotel and the stalled multi-billion dollar “Echelon” development, on which construction was halted due to the recession.

Gaming Commissioner Tony Alamo Jr., who noted that he has ruled on 17 gaming industry debt restructuring and reorganizations since starting at the Commission in 2008.  Genting told executives the company would be a “welcome addition to the Strip and Nevada market.”

Gaming Commission Chairman Peter Bernhard added that Genting, which benefits from significant cash flows and limited debt, “clearly has the financial stability and business probity” to build Resorts World Las Vegas; “It will be a game changer.”

As outlined in Genting’s presentation, construction is expected to take several years and includes “at least two or three phases.”

The first phase will feature a 3,000-room hotel, a casino with an aggregate of 3,500 slot machines and table games, 30 restaurants and bars, a 4,000-seat entertainment venue, an “elaborate garden attraction” that will serve as the property’s front door to the Strip and a 50,000 sq ft, 58” tall aquarium that will feature a variety of exotic fish. The first phase is expected to create 8,500 direct jobs and 3,300 indirect jobs.