Vol. 8 • No. 39 • October 11, 2010 - Print This Issue
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Vol. 8 • No. 39 • October 11, 2010, Featured Articles, GLOBAL GAMING BUSINESS PODCASTS
GLOBAL GAMING BUSINESS PODCAST: Dennis Gomes, President, Gomes Gaming
This week, the Global Gaming Business Podcast features an interview with Dennis Gomes and his son Aaron, who are the principles in Gomes Gaming, about the purchase of Resorts Atlantic City and their plans for the hotel.
Download this Podcast Episode or Click Below to Play it.
In August, Dennis Gomes announced that he had purchased Resorts Atlantic City. Along with partner Morris Bailey, an Atlantic City native, Gomes will invest $35 million to buy the property from a consortium of lenders who have run it over the last year. A longtime Atlantic City booster, Gomes has operated several casinos in the town, including Trump Taj Mahal and the Tropicana. He correctly predicted that the future would be non-gaming amenities when he directed the construction and operation of the Quarter at the Tropicana, now one of the city’s hottest night spots and retail destinations. With Resorts, Gomes takes over a troubled property with plunging gaming revenues and image problems. Gomes and his son Aaron, a partner in Gomes Gaming, spoke with Global Gaming Business Publisher Roger Gros in September to talk about how they will turn the property around and their overall views on the future of Atlantic City.
Roger Gros is publisher of Global Gaming Business, a the industry’s leading gaming trade publication, and all its related publications. Prior to joining Global Gaming Business, Gros was president of Inlet Communications, an independent consulting firm. He was vice president of Casino Journal Publishing Group from 1984-2000, and held virtually every editorial title during his tenure. Gros was editor of Casino Journal, the National Gaming Summary and the Atlantic City Insider, and was the founding editor of Casino Player magazine. He was a co-founder of the American Gaming Summit and the Southern Gaming Summit conferences and trade shows. He is the author of the best-selling book, How to Win at Casino Gambling (Carlton Books, 1995), now in its fourth edition. Gros was named “Businessman of the Year” for 1998 by the Greater Atlantic City Chamber of Commerce.
More Featured Articles
WEEKLY FEATURE: Hoping for Better in the Bahamas
The Bahamas Hotel Association has presented the national government with a list of proposals designed to improve the local casino resort business. The government seems open to suggestions but appears to be in no hurry to move forward. George Markantonis (l.), head of the Kerzner group in the Bahamas, is urging speedy action.
Hard Rock Eyes AC
The famous name could be in lights above the Atlantic City Boardwalk as New Jersey lawmakers ponder smaller, 'boutique-style' casino hotels. Hard Rock President Jim Allen (l.) says his company is looking to build new to attract new players.
Another ‘Carcieri Fix’ Considered
California Senator Dianne Feinstein (l.) has proposed a new “fix” for the Supreme Court’s Carcieri decision at the same time the Bureau of Indian Affairs is holding consultations on the “land into trust” issues.
Paterson, Senecas Set for Showdown
The Seneca Nation in western New York state has ceased payments to the state, causing Governor David Paterson (l.) to threaten the revocation of its gaming compact.
11 Arrested in Alabama
Last month, casino developer Ronnie Gilley challenged anti-gaming law enforcers to arrest him. They complied, charging Gilley, VictoryLand owner Milton McGregor (l.) and 9 others with conspiracy.
MGM Resorts Issues New Diversity Report
Initiative reports outstanding results in purchasing, construction and employment despite economic challenges. Nevada Partnership for Homeless Youth Executive Director Tim Mullin, Three Square President and CEO Julie Murray, MGM Resorts International Chairman and CEO Jim Murren, Nevada Partnership for Inclusive Education (PIE) Executive Director Judy Machabee and MGM Resorts International Board of Directors' Diversity and Community Affairs Committee Chair Alexis M. Herman appear at MGM Resorts International's Annual Diversity & Philanthropy Meeting at the Aria Resort & Casino at CityCenter earlier this month.
Revenue Climb Slows in Macau
While gaming revenues continue to soar in Macau, the percentage increase continues to shrink as comparisons get more difficult against what was a prosperous period in 2009. One investment bank has a concern about the Wynn properties in Macau (Encore Macau at left).
Chen Leaves Harrah’s
Harrah’s Asia President Michael Chen takes a sabbatical as Harrah’s continues its search for its first Asian operation.
FANTINI’S FINANCE: Beginning of the End?
Is the recession slowly grinding to a halt? If so, how should investors prepare and who is likely to come back first and fastest?