Just One More Hand: Life in the Casino Economy (2015)
Appendix 1
Atlantic City Casinos Timeline
(Openings of new properties are indicated by italics with their current names in bold brackets.)
1978
· May 26: Resorts International opens Resorts International Casino, the first casino in Atlantic City. [Resorts Casino Hotel]
1979
· June 26: Boardwalk Regency opens in a renovated Howard Johnson’s property. The Casino Control Commission permitted it to add Caesars to the name in 1983. [Caesars Atlantic City]
· December 29: Bally’s Park Place opens a new casino at the location of the former Marlborough-Blenheim Hotel, which was largely demolished to make way for it. [Bally’s Atlantic City]
1980
· February: Harrah’s Hotel Casino Company is acquired by Holiday Inns, Inc.
· August 31: The Brighton Hotel and Casino opens a new property under the ownership of Greate Bay Casino Corporation. [Sands Casino Hotel, no longer in operation]
· November 23: Harrah’s Hotel Casino is opened. [Harrah’s Resort Atlantic City]
· December 12: Golden Nugget Atlantic City is opened as a partnership of Golden Nugget Companies (Steve Wynn, owner) and Michael R. Milken. [Atlantic Club Casino, no longer in operation]
1981
· February: The Brighton Hotel and Casino is purchased by Inns of America; the resort is renamed Sands Casino Hotel.
· April 4: Playboy Enterprises (in a partnership with the Elsinore Corporation) receives a temporary gaming permit and opens the Playboy Hotel and Casino. The property is no longer in operation.
· November 26: Ramada Inns opens the Tropicana Atlantic City. [Tropicana Casino & Resort Atlantic City]
· July: The Del Webb Corporation purchases the Claridge Hotel and turns it into a casino with the name Del Webb’s Claridge Hotel and Casino. [The Claridge Tower, part of Bally’s Atlantic City until 2013]
1984
· May 26: Harrah’s at Trump Plaza opens as a new property, a joint venture by Trump Entertainment Resorts and Harrah’s. [Trump Plaza Hotel and Casino]
· Playboy Hotel and Casino becomes Atlantis Hotel and Casino under partnership with the Elsinore Corporation following Playboy Enterprises’ licensure denial in 1982. Playboy ultimately sells its shares to Elsinore.
· The Casino Reinvestment Development Authority (CRDA) is formed to channel a portion of casino revenue to urban redevelopment in Atlantic City.
1985
· June 19: Trump Castle opens as a new property, owned by Trump Entertainment Resorts. [Golden Nugget Atlantic City]
· November 15: Atlantis Hotel and Casino files for bankruptcy.
1986
· Trump Entertainment Resorts purchases Harrah’s shares of Harrah’s at Trump Plaza and renames the casino Trump Plaza Hotel and Casino.
1987
· April 2: Showboat Inc. opens the Showboat Casino. [Showboat Atlantic City]
· Caesars Boardwalk Regency’s name is changed to Caesars Atlantic City.
· Bally’s Entertainment Corporation purchases Golden Nugget Atlantic City from Steve Wynn; the resort is renamed Bally’s Grand Casino/Hotel.
1988
· Resorts International Casino is bought by Merv Griffin (Griffin Gaming & Entertainment Company) and is renamed Resorts Atlantic City.
· Tropicana Atlantic City is renamed TropWorld Casino and Entertainment Resort after Tivoli Pier is built.
1989
· Ramada Inns spins off their gaming properties (Tropicana) into Aztar Corporation, a division of the company.
· May 22: Atlantis Casino closes and reopens several months later under new ownership as the Trump Regency Hotel.
· December 22: Resorts Atlantic City files for bankruptcy.
1990
· January: Holiday Inn transfers Harrah’s and their other hotel brands into the Promus Companies.
· April 2: Trump Taj Mahal opens under ownership of Trump Entertainment Resorts, financed by high-interest “junk bonds.” [Trump Taj Mahal]
1991
· July 16: Trump Taj Mahal files for bankruptcy one year after opening.
1992
· Trump Hotel and Casino Resorts, owner of both Trump Castle and Trump Plaza, files for bankruptcy. Donald Trump gives up 49 percent of ownership stake to lenders.
1995
· June: The Promus Companies spins off its non-casino hotel brands and creates a separate corporation renamed Harrah’s Entertainment, Inc.
1996
· April 15: Trump Regency is reopened as a casino-hotel named Trump World’s Fair at Trump Plaza Hotel and Casino.
· Summer: TropWorld Casino and Entertainment Resort is renamed Tropicana Casino and Resort upon completion of its expansion.
· Bally’s Grand is renamed Atlantic City Hilton after its acquisition by the Hilton Hotels Corporation.
1997
· Wild Wild West is opened as an additional casino gaming area connected to Bally’s Casino while under the ownership of Hilton Hotels Corporation.
· July: Trump Castle is renamed Trump Marina.
1998
· January 5: The Sands Casino Hotel files for bankruptcy.
· June: Showboat, Inc. is acquired by Harrah’s Entertainment Inc.
· Griffin Gaming & Entertainment Company, owner of Resorts, is purchased by Sun International Hotels.
· Hilton Hotels Corporation spins off its casino properties into a new company called Park Place Entertainment.
1999
· August 16: Claridge Casino Hotel files for bankruptcy.
· October: Trump World’s Fair is permanently closed and torn down one year later.
2000
· Carl Icahn purchases the Sands Casino Hotel.
· Sun International sells Resorts Atlantic City to Colony Capital LLC, creating Resorts International Holdings.
· Park Place Entertainment purchases Caesars properties (in Las Vegas and Atlantic City). The company is renamed Caesars Entertainment, Inc. in 2003.
2001
· June 1: Park Place Entertainment, owner of Bally’s, acquires the Claridge Casino Hotel.
2003
· July 2: Borgata Hotel Casino and Spa opens, owned by Marina District Development LLC, a joint venture between Boyd Gaming, Vornado Realty Trust, and MGM Resorts International. [Borgata Hotel Casino and Spa]
2004
· November 21: Trump Hotels and Casino Resorts, owner of Trump Castle and Trump Plaza, files for bankruptcy a second time. Trump’s personal stake is reduced to 25 percent.
2005
· June: Harrah’s Entertainment completes its acquisition of Caesars Entertainment, Inc., the largest merger in the history of the gaming industry. As a part of this merger, all Bally’s casinos and hotels are owned by Harrah’s.
· Resorts International Holdings manages Atlantic City Hilton as well as Resorts.
2006
· May: Aztar, owner of Tropicana, is acquired by Columbia Sussex Corporation.
· September: Pinnacle Entertainment Inc. purchases the Sands Casino from Carl Icahn and closes it permanently two months later.
2007
· October 18: The Sands Casino is imploded, the first-ever casino implosion on the East Coast.
2008
· January: Harrah’s Entertainment is acquired by Apollo Global Management and Texas Pacific Group, private equity interests.
2009
· February: Donald Trump resigns as chairman of Trump Entertainment Resorts (Taj) as the company files for bankruptcy.
· June 12: Columbia Sussex’s Tropicana Casino and Resort loses its license and goes bankrupt.
· December 10: Resorts International Holdings (owned by Colony Capital LLC) is unable to pay the mortgage for the Resorts Atlantic City. Both Resorts and Atlantic City Hilton are surrendered to Resorts Atlantic City Holdings LLC.
2010
· March 8: Tropicana Entertainment Inc., led by Carl Icahn, becomes the new owner of Tropicana Casino and Resort as it emerges from Chapter 11 bankruptcy.
· August 23: Resorts is purchased by DGMB Casino LLC and operated by Gomes Gaming. Dennis Gomes is named CEO.
· November 23: Harrah’s Entertainment changes it corporate name to Caesars Entertainment, Inc.
2011
· February 14: Landry’s Restaurants purchases Trump Marina from Trump Entertainment Resorts. Trump Marina is renamed Golden Nugget of Atlantic City.
· July 1: Atlantic City Hilton is given temporary name of ACH because Hilton Hotels ends its licensing agreement with Colony Capital LLC, withdrawing permission to use the Hilton name.
2012
· February 7: ACH is rebranded as the Atlantic Club Casino Hotel, owned by Colony Capital LLC doing business as RIH Acquisitions NJ, LLC.
· April 2: Revel Atlantic City opens for preview; official grand opening is Memorial Day weekend. The owner is Revel Entertainment Group LLC, now Revel AC, Inc. [Revel Casino Hotel]
2013
· March 25: Revel files for bankruptcy for the first time and is taken over by its creditors.
· November 6: Atlantic Club files for bankruptcy.
· December: Atlantic Club is sold to two competitors, Caesars and Tropicana, after filing for bankruptcy. The new owners intend to close the casino and sell or utilize its assets.
2014
· January 13: Atlantic Club, born as the original Golden Nugget in Atlantic City, closes.
· February: Claridge Hotel is sold by Bally’s and is renovated to become a stand-alone hotel, without a gaming floor.
· June 19: Revel files for bankruptcy for the second time.
· June 27: Caesars announces that it is closing Showboat Casino on August 31.
· Summer: Impending closures are approved for Showboat, Revel, and the Trump Plaza.
Sources: Atlantic City Library, Press of Atlantic City, and corporation websites and annual reports.