Lady Antebellum.

http://www.atlanticcitynj.com/events...s.aspx?id=3540

Can you believe the Mayor of Atlantic City? Six (6) potential bidders for Revel?

http://www.northjersey.com/news/atla...sino-1.1055952

What Company is going to pony up for The White Elephant? At what price?

Guess we will find out next Wednesday, August 6th if the Bankruptcy Court stays with the plan.

Rumors that the Seminole Tribe, the owners of the Hard Rock Hotels and Casinos, still is showing interest. But, the price has to be right. Expect a low-ball bid.

Another bidder could be Caesars. Yes, the Caesars that is closing The Showboat down the Boardwalk. Trading up??????? Trying to save face? Caesars flushes 2,000+ employees to takeover the 3,000+ Revel employees, and then will tell AC that they are "saving jobs"?

A potential buyer for The Showboat - Amaya? What's another few million tacked on to the Rational (PokerStars/FullTilt) acquisition.

Someone I trust told me Steve Wynn has been looking at Revel and is another possible interested bidder.

Gotta love this one.

http://www.pressofatlanticcity.com/n...a4bcf887a.html

According to this the bids are due on Monday, August 4 and "An auction is set for Aug. 7 in the event there is more than one qualified bidder."

Another interesting quote - "John Cunningham, an attorney for Revel, said the names of the managers who stand to receive bonuses should be sealed “to protect employees’ morale, particularly for those not included in the … plan.”

So, the day of reckoning will be next Thursday?

If you live in Atlantic City, all we can do is empathize with them. Not only are they getting pink slips from the casinos, they are getting a tremendous tax increase because of the DECREASE in the Casinos property value. Therefore, the casinos are paying less to the city and the residents have to foot the bill.

http://www.pressofatlanticcity.com/n...9bb2963f4.html

And...... one of the solutions is to make a huge cut in the city's Public Safety. Can you imagine AC with 330 fewer cops and 260 less firemen? New Jersey will have to call in the National Guard to give the visitors any sense of security.

Could you imagine the havoc that could occur? Picture the crowd control needed for tomorrow and Saturday's beach concerts - 60,000+.

I don't think anyone is talking about laying off the entire police and fire departments.

I do feel for the residents who now have to shoulder the tax burden but keep in mind that it was the residents, not the casinos, who voted in the corrupt politicians in years past who squandered and stole the tax funds that the casinos were paying.

Correct me if I'm wrong here, but the property tax increase is 47 cents per $100 of value? So if the median property value is 136K (just from a quick Google), the increase is $639?

I understand that it represents a significant amount of money to people who are working multiple jobs and living paycheck to paycheck, but the whole "I have to get a third job now," or "I'm totally ruined," type quotes are way over the top. What they SHOULD do, though, is increase the tax more on people who don't reside in AC full-time, and less on those who do who's home is worth under, say, 150K.

But I don't want to derail this too much into politics and taxes... The bigger concern for the city overall is the lost jobs - that's going to have a much bigger impact on future tax revenue and people's ability to get by. The impact this could have on the rest of AC's future viability as a resort town is scary - so lets all hope Revel gets bought and run well.

Sad and scary situation developing in AC. The tax base issues and public safety issues are bad enough but the loss of property values for all and the large drop in economic activity are tragic.

I wonder how many AC residents work directly for casinos and which areas outside of AC will be affected the most.

For people who take the bus to AC from NY:

What's the pro move in terms of times to take back to the city (referring to academy)? Got turned down today because bus was too full at 1230. Played at ballys until 345, went to terminal, got turned away at 430 because bus was too full.

Is this a standard thing for academy?

Pro move is actually taking the Chinatown bus if you are from downtown. 17-25 bucks rt. If price isn't an issue. Grayhound buses leave every half hour out of terminal .

Look at vrbo.com or sites like that for a place in brigantine. SHould be able to get something fairly affordable.

pro move is look at the schedule and see which casino the bus hits first (always go to 2 casinos) then go to that casino a little early and get in line.

At prime times, yes, half an hour isn't enough ahead of the departure to arrive.

In my experience, Academy makes an effort to accommodate before the next bus if one fills up. I've been at Port Authority several times where they brought in an extra, and a couple times returning. I think one return was an extra bus and one they had the next departure pick up the leftover people before going to its scheduled spot.

Yes that was my experience with Academy in past times. This time both drivers basically told us we were SOL which was a bummer.

Went and dumped 400$ at the WSOP 2/5 that wouldn't have happened if I had made that 1230 bus!

This week should bring an end to the fate of Revel. Today was the day that bids for the Casino/Resort were to be submitted to Judge Gloria M. Burns, the Chief US Bankruptcy Judge.

If more there was more than one qualified bid there is supposed to be an auction on Thursday. NBC 10 in Philly is reporting that the Hard Rock group is not in the running.

However, it was implied that the Hard Rock is interested in The Showboat.

Any news?

I just spent some time searching the news. Haven't seen anything on actual offers. Or lack of offers.

Lee

Here is the roadmap of what a bidder for the Revel had to do. 79 Pages of lawyer language. Have no idea why it is generating so little news interest. My bolds.

https://www.revelcaseinfo.com/KeyDoc...px?Document=32

CLIFFS:
PART ONE COMPLETED:

PART TWO - THURSDAY

PART 4 SOON AFTER

And after all that, NO NEWS LEAKED, yet.

Revel Update: Auction on Tuesday!
http://www.pressofatlanticcity.com/n...9bb2963f4.html


Trump sues to get his name off the Casinos.:
http://www.pressofatlanticcity.com/b...9bb2963f4.html

Thought the headline was misleading. As I understand it, the auction is scheduled for tomorrow morning. However, that's only if there is more than one qualified bidder. No word yet on if there have been any. Guess we'll see in the next 1/2 day or so.

No word at all. Writer at Press of Atlantic City should have inside track because they will get the public notice first along with NY Times. His reporting is weak at best.

White & Case, LLP - no comment on tomorrow.

Even called the Bankruptcy court to see if the public can attend the Friday decision. No Response.

So I am looking to buy property right in Atlantic city. What is the pro move ? Do I wait till this settles and homeowners get their property tax bill , which I am thinking will be a big jump ? I don't think revel is just going to waste. Someone will make a bid. Its just a matter of will the debt holders take a quarter on the dollar. Or do I buy in the next month or so , while its still not fully clear and some sellers might start panicking ?

The "pro move" absolutely, positively, has to be asking questions like this of a bunch of poker players instead of real estate professionals.

The "pro move" wouldn't possibly - in any way, shape, or form - be doing serious research into real estate trends, or marketing trends, or looking at the actual unemployment rate or real estate tax amounts or anything else of real importance.

And, most certainly, the "pro move" wouldn't involve any comparison to nearby areas such as Brigantine, Ventnor, and other nearby towns/villages. After all, the "pro move" is to decide to move into a city first, and then look at how the finances play out.....

Hmmmm, maybe not so much, eh?

Maybe the real pro move is to do some serious research and not ask a bunch of internet browsing poker players who may or may not have any useful knowledge on the subject, but are always happy to give their opinions irrespective of having or not having such knowledge.......

Lee

I don't get it, if you making such a big move to buy Revel, you better be prepared. If you need week more to catch up, you are not serious.

Bro. Calm down. I am just asking for opinions. I weigh all opinion to come to a conclusion. I know what the avg property tax bill in that city is. I know the current trend in unemployment , I was just asking on a timing basis.

Like any decision, is the risk worth the reward? And as any poker player knows - "it depends".