Atlantic Club Closing

[DaBurglar]

  Haven't been down to A/C in 20 years or so. Maybe in the summer as a little side trip. Burger and beer sounds good. Thanks. I stay close to home in the winter. Have elderdy folks to take care of. Thank God I still have them. Hmmmm.....just thinking, I am elderly myself...Oh well, the senior discounts are nice
 Summer is excellent in AC, not because of the casinos obviously, but due to the fact that long before the casinos Summer was the time when AC made all its money and saw people flock to its once pristine beaches, and it still has that whole "beach" vibe despite the best efforts of the casinos on the boardwalk to change it to a "casino vibe"......If you do plan on going in the summer (June thru Labor day), go between Monday and Thursday, you'll still have some crowds but they'll be manageable, and you wont have to wait in too many lines or pay through the nose for a room. But if you can make it to AC in Early Spring (March-April) you might be pleasantly surprised, the days are milder than up in New England and you can walk the boardwalk (unless it rains of course), and if you can get to Hartford, you can hop on a Greyhound bus, roundtrip for 64 bucks with at least a 25 dollar slot play rebate (maybe more depending on which casino you have the bus drop you off at...)    I understand you having to care for your family, but if you can arrange a two day reprieve for yourself, do it......or bring them along if possible!     One thing all the AC Hotels have is a fleet of those scooters for rent....prices vary but tend to be reasonable.     Anyway, good luck, but do not forget that Mohegan Sun now owns Resorts and your points and comps are equally valid at a 1 to 1 ratio at both locations! 

[olds442jetaway]

Thanks for the heads up. Maybe for wife's April vacation. That is unless the winter wipes it out like last year. I still like to drive. Will try for off peak traffic drive times if we are able to go down. I really did enjoy the boardwalk. We even found a black pearl in that outfit on the ship that let you open an oyster for 10 bucks or so. Wow, that must have been late 70's or early 80's, but it was lots of fun.

[boobert]

I really don't understand why no one wanted the Atlantic club. At 25 mil not a bad deal. It pulled in over 100 mil in just slot revenue. Better management and upgrades could easily improve that. The tax rate is much lower than PA's 55%. Wynn makes a ton of money from Macau and was willing to spend 900 mil in Philly and 1.3 bil on a toxic site in Mass, but didn't want this deal? The licencing can't be worse than the mess they have in Mass. Your thoughts ?

[Tedlark]

  Excellent post boobert, maybe DaBurglar will have an outlook on this because he has been keeping up on this.

[JIMDUECE`SWILD]

I really don't understand why no one wanted the Atlantic club. At 25 mil not a bad deal. It pulled in over 100 mil in just slot revenue. Better management and upgrades could easily improve that. The tax rate is much lower than PA's 55%. Wynn makes a ton of money from Macau and was willing to spend 900 mil in Philly and 1.3 bil on a toxic site in Mass, but didn't want this deal? The licencing can't be worse than the mess they have in Mass. Your thoughts ?
I agree ! It is my understanding that all those surface parking lots by the ACC/Hilton casinois owned by them. When Steve Wynn opened the Golden Nugget there in the 1980's he purchased all that land. The ground from Atlantic Ave. to the boardwalk, and Providence Ave. to Sovereign Ave. They parking lot on Montpellar Ave. may also be included. I don't understand with all that ground they never expanded. If I win the lottery for several hunded million maybe I'll buy it. HA,HA,HA  Like I'll win the lottery

[DaBurglar]

First off, I am posting this still in AC (will be here until Sunday morning).......and before I begin, let me just point out that the previous several posts, about how the AC club should be "desirable" in investors eyes given their total revenue and the tax rate, and about all the "land" that AC club actually owns....these are excellent points and further underscore just HOW BAD, awful and inept the current (soon to be former) managment truly was over the last 2-1/2 years the place clung to life.....the COO is well known, Michael Frawley, and the sad part is way back in the end of 2011 I really thought he might be able to turn this quaint little property into the surprise success story of AC the last 2 years......boy was that ever a misguided notion!
 
Let me start by saying I arrived here on Sunday January 5 for two free nights.....they had SIGNS all over the lobby and property detailing how they will cease business on January 13, 2014, and that you must submit all tokens and tickets for redemption by tthen.....furthermore, as of 5:59 am on Monday January 6, all slot play/VP play will cease accumulating cash back........SO I chose, upon seeing this, to play one last time Sunday night, figuring whatever I lose until early morning hours I will earn cashback on before they close in one week (on  01/13/14)       I played the least crappy game they have in their casino  9/6/5 DB, played for about 2 hours, did not hit a fuggin thing, and lost about 220 bucks on 25 cent denom.    Needless to say, the supposed "cashback" I was still earning never materialized, when I showe dup today (friday, 01/10/14) to play what I thought would be about 10 bucks in total slot play ( I still had a few dollars in there before I played).......NOPE, nothing....oh well, par for the course.  
 
AC club's VP is just about the WORST (over the last two years) of all the ac properties and is the one property I am a sure as I can be sets their VP machines into the lower "slot" realm.....
 
 
I played in Real Poker tournaments the rest of this past week, at Borgata, Tropicana and even Showboat (mor elike a couple sit n gos since almost no one is around) and I did fairly well, turned about a 400 dollar profit (even AFTER taking into account my VP losings)  when all was added up, plus I learned that some of the POKER ROOM comps are not as chintzy as I first feared.....I may be able to get some really cheap rooms at the Trop if I can manage to log 4 hours a day in their cash games, or play both their morning and evening tournaments.....the poker room managers are in bad need of bodies to fill up their tables so they will do everything they can to help you afford your room, just make sure you back up your committment to play poker!
 
 
Back to the AC CLUB FIASCO (currently going on as I type so if you plan on going to AC club to Say goodbye this weekend, forget it.....not worth it, not even to redeem old comps....here's why:
 
I visited the AC club this afternoon around 3 pm....there was actually a LONG line of cars trying to get in so clearly a lot o fpeople  are doing just what I said, saying goodbye and playing off one last time any comps they might have, or perhaps trying for one more elusive jackpot.
 
I went inside, and after I saw I had not earned the expected slot cash back from last sunday, I chucked my players card in the trash and decided to play one last time on a upright IGT Video Poker machine to see if I cannot actually get ANYTHING good (one measly quad was all I was looking for and I was ready to leave that place and never look back.)    I played one last hour on 9/6/5 Double Bonus, and once again, as unbelievable as it sounds, i received NOTHING and lost about $125 (25 cent denom)!!!    I mean, come on!!!!     Am I just the unluckiest schmuck alive?   <dont answer that>       Between last sunday and today, I played a total of almost 2000 hands of Double bonus, received ZERO QUADS, to say nothing of straight flushes (zero).....Absurd (and yet CONSISTENT) to the very end, AC club!     Lost almost $350 bucks  for nothing other than to satisfy my morbid car wreck syndrome about AC video poker......I am serious, you have to see it to believe it, but I SWEAR on my rear axels that what I am reporting is the truth about my VP play in the AC CLUB.......whatever sentimental sadness I had about the place closing is long gone now!
 
But that is not even the WORST PART!      Inside the AC CLUB, since late thursday, the shutdown ALL the TITO machines and now, if you want to redeem your tickets or chips, you MUST stand in line at the cashier!!!!   This is the worst, most cynical, egregious example of petty greed and lack of customer compassion I have ever seen!     When I left at 4:15 pm t elines at the casimo cage were 12 deep, and they only had four of the 12 windows working!    Do you get this BS?  people with ANY ticket, from a $3.52 penny slot ticket to a 700 dollar VP ticket, and everything in between, and including all CHIPS as usual, now must use the cashier cage until they shut down on Monday!  whats worse, all the machines in the casino floor are still there, just non functional, and there is NOTHING on the machines in terms of signage telling people to go to the cahier cage!   Do you know how stressful that is for elderly people and disabled people (not me so much since I am very FAST in my chair, but still!)    its totally obnoxious
 
I would not be surprised if at somepoint say sunday night they pulled some really sinister crap about "running out of cash" and anyone left at that point needing to cash out will be told to "take it up with the bankruptcy court"....think about it???  what is to stop them?   What would be the worst thing to happen to them?
 
FYI....this afternoon, I asked exactly 37 different people I saw playing VP and slots in the AC club if they were winning or had won and NO ONE said yes, not even "a little bit" which usually you can find someone willing to admit they won a little .....  makes you really stop and think......

[boobert]

I will be there Sunday , not to play, but with my camera.

[Tedlark]

  DaBurglar congrats on your poker wins, I KNEW you would come through. As for your luck at video poker all I can say is that I wish you had better luck but better luck next time I guess. It was disappointing to read that the Atlantioc City Club shut down the TITO redemption machines, boy I really like using them for the convenience.
 
  Oh well, I hope you had good weather.

[olds442jetaway]

Great way to start 2014. Let's hope the live poker success rolls over some to vp quads and Royals too. ( and not necessarily in that order)

[BillyJoe]

I really don't understand why no one wanted the Atlantic club. At 25 mil not a bad deal. It pulled in over 100 mil in just slot revenue. Better management and upgrades could easily improve that. The tax rate is much lower than PA's 55%. Wynn makes a ton of money from Macau and was willing to spend 900 mil in Philly and 1.3 bil on a toxic site in Mass, but didn't want this deal? The licencing can't be worse than the mess they have in Mass. Your thoughts ?
I thought that I read somewhere that Caesars and Tropicana bought the Atlantic Club?
http://www.pressofatlanticcity.com/busi ... 963f4.html
 
I know it closed now, but who knows what it may be in the future.