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Discussion about gambling in Atlantic City
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jetermacaw
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Post by jetermacaw »


advantage playe
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Post by advantage playe »

thanks Jeter ! hopefully they can stay open !

Tedlark
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Post by Tedlark »

You need a facebook account to read the article. Pass.

jetermacaw
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Post by jetermacaw »

Harry Hurley got the buzz going yesterday on something I have been hearing about for a while. But the names bandied about are wrong, from what I am told. Very good sources tell me the new owner of Ocean Resort Casino is Wind Creek Hospitality, the Indian tribe that purchased Sands Casino Resort Bethlehem last year. Ocean will sell for far, far less than the $1.3 billion they paid for the Sands. It's good Ocean won't close its doors, but like a very top gaming exec told me, "The pie is only so big." AC cannot support all of the casinos that currently exist. But Ocean is too nice of a place and would be too big of a black eye for AC to close again so soon. Can Wind Creek turn it around? Let's hope so. I love the building, the businesses inside and the people who run them.
For more about Wind Creek, here's what the The Morning Call in Allentown said about them when they bought the Sands:
"a privately held entertainment and gambling company owned by the Poarch Creek Indians, has run a somewhat modest operation relative to other Native American gambling businesses that have proliferated over the past 30 years. Its properties have long been contained to southern Alabama and northwestern Florida.

But it’s about to become a household name in the Lehigh Valley. Wind Creek announced Thursday it’s acquiring the Sands Casino Resort Bethlehem property for $1.3 billion.

The Poarch Creek Indians descend from part of the original Creek, or Muscogee, Nation that lived in Alabama and Georgia. Today a majority of the 3,000-member tribe lives in Escambia County, Ala.

Sands Bethlehem casino to be sold to Alabama Indian tribe for $1.3 billion
The Poarch Band is the only federally recognized Indian tribe in Alabama, operating as a sovereign nation with its own system of government and bylaws.

Wind Creek Hospitality runs three casinos on tribal land in Alabama — one in Atmore, and two near Montgomery (Wind Creek Wetumpka and Wind Creek Montgomery). The casino floors are all on the smaller side, ranging from 85,000 square feet at Wetumpka to 57,000 square feet at Atmore. The casino floor at Sands Bethlehem, by comparison, is a little over 150,000 square feet.

Joseph Weinert, senior vice president of Spectrum Gaming Group, a consulting firm in Linwood, N.J., described the Bethlehem casino acquisition as a major leap for Wind Creek, likening the move to how the Mohegan Tribe in Connecticut entered the Pennsylvania commercial gambling arena with its Pocono facility.

While it’s a big bite for Wind Creek, Weinert said they’re respected as a gambling operator.

Wind Creek logo
Wind Creek Hospitality, an entertainment and gaming company owned by the Alabama-based Poarch Band of Creek Indians, is acquiring the Sands Casino Resort Bethlehem property for $1.3 billion. (CONTRIBUTED PHOTO)
“They’ve developed some nice facilities in Alabama,” Weinert said. “This obviously is a major leap for the tribe, not just in terms of the size and performance of the asset, but also stepping into the U.S. commercial gaming industry.”

Tedlark
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Post by Tedlark »

Thanks for converting jeter, I don't do facebook.

Waiting4RF
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Post by Waiting4RF »

No word yet in the press about the new Ocean Resort owner. But an article talked about Wahlburgers. I didn't they opened but see they did Dec 10th. I will try them out next time at AC.

FAA
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Post by FAA »

My OR hit and run fantasies morph into nightmares. Just .25 and .50 is unavailable. Great property otherwise!

Waiting4RF
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Post by Waiting4RF »

A recent article says Ocean lost nearly $23 million in its first five months of operation. How can the new owner make a profit? Adding a buffet and 500 rooms is the plan.

FAA
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Post by FAA »

Market has gotten saturated again. I plan to visit a restaurant and hopefully not lose my shirt on VP.

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