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Some Atlantic City casinos struggle to pay loans

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Washington DC...
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Some Atlantic City casinos struggle to pay loans

ATLANTIC CITY, N.J. (AP) -- As millions of Americans are having problems paying their mortgages, so too are some Atlantic City casinos.

Trump Entertainment Resorts became the second casino operator here to say it would not make a scheduled loan payment while it tries to work out new terms with its lenders. Last month, Resorts Atlantic City did the same thing, and more could follow.

Joseph Weinert, senior vice president of Spectrum Gaming Group, said it is possible the Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino could end up filing for Chapter 11 protection.

He said other possible candidates for Chapter 11 filings include the two casinos that Colony RIH Holdings, Inc. owns -- Resorts and the Atlantic City Hilton Casino Resort. And the Tropicana Casino and Resort is likely to be sold in a bankruptcy court auction, possibly before the end of this year.

pa
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1. Re: Some Atlantic City casinos struggle to pay loans

Great,They wanted it their way and kept Milking their customers while still drawing their BIG salaries.Like I said before we really enjoy going to A/C but we can WIN in PA. and you Can't do that in A/C Any more!!!

NY
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2. Re: Some Atlantic City casinos struggle to pay loans

This means nothing. Businesses use Ch 11 to just shuffle around their debt.

New Jersey
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3. Re: Some Atlantic City casinos struggle to pay loans

Everyone that feels bad for the Casinos raise your hand. Come on, a little bit higher, I don't see any!

pa
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4. Re: Some Atlantic City casinos struggle to pay loans

Suddenly arm broke,can't raise!!!

Philadelphia/Atlanti...
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5. Re: Some Atlantic City casinos struggle to pay loans

hand raised, but now typing is difficult.

I cannot imagine the pain in typing with a broken arm ~ my sympathies to U $who

Stafford, VA
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6. Re: Some Atlantic City casinos struggle to pay loans

Like I said before we really enjoy going to A/C but we can WIN in PA. and you Can't do that in A/C Any more!!!

Money, so sorry to hear you are not Winning at Borgata!

Washington DC...
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7. Re: Some Atlantic City casinos struggle to pay loans

I'd love to see all AC Casinos go bankrupt and have their assets auctioned off for pennies on the dollar.

Bridgewater
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8. Re: Some Atlantic City casinos struggle to pay loans

"I'd love to see all AC Casinos go bankrupt and have their assets auctioned off for pennies on the dollar.

"

Why? You'd put thousands more people out of work. And then I wouldn't have a place I totally enjoy going to. Win or lose, I enjoy it!

Washington DC...
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471 posts
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9. Re: Some Atlantic City casinos struggle to pay loans

I feel that the current management have no idea how to run casinos. The service is horrendous, and prices are way too high. The entertainment is subpar, and the entire town is seedy and disgusting.

10. Re: Some Atlantic City casinos struggle to pay loans

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Removed on: 07 December 2008, 21:12