STATESIDE
Caesars has owned those two for years, but never operated in the Marina District. Lots to work out. I expect similar questions in the many jurisdictions included in this sale. The answers will come soon enough, as the proposed agreement lets Caesars seek competing bids only through July 11. That leaves little time for competitors to match the price.
In those nationwide regions where Golden Nugget will have a sizable monopoly on gaming, will Tilman rebrand any of those properties? I hope not because Caesars, Golden Nugget, Tropicana and Harrah’s are all known brands with long, storied histories. Caesar’s roots date back to the 1930s in Reno, Nevada. With such name recognition, Fertitta’s executives should think twice about upending the familiar. Giant companies often retain the names of their diverse brands after acquiring competing companies.
It’s been a busy month. I’ll try to use some of the postponed original material from this month’s column in July, but who knows? The best laid plans….
Sharon Harris
Sharon has worked in the casino and coin- operated amusement industries since the 1980s. In the early 1990s, Sharon transferred her public relations and journalism skills to the gaming industry. She wrote her fi rst feature for Casino International predecessor EUROSLOT magazine in 1994.
The deal may face considerations and deadlines before becoming a ‘fait accompli.” Many states’ present and/or past regulations could affect the outcome.
For example, New Jersey’s original Casino Control Act of 1977 limited Atlantic City ownership to three casinos. That explained Donald Trump’s three locations-the Plaza, Marina and Taj Mahal-for many years. Lawmakers later amended the restriction to evaluate any possible “undue economic concentration” standard instead of property count.
I don’t know how regulators will determine
that scenario in a small geographic setting like Atlantic City, with its two gaming zones. The Marina District’s three casinos are only several minutes and a few miles from the main Boardwalk/Ocean locations.
Fertitta already owns and operates the Marina’s Golden Nugget, but the deal will now include Harrah’s next door. That leaves only MGM’s Borgata, adjacent to Golden Nugget, on the other side. Does that constitute “undue economic concentration” as defi ned? For the remaining six Boardwalk sites, the purchase would include Caesars and Tropicana.
As Associate Editor, North America for Casino International, Sharon has chronicled the explosive growth of U.S. gaming and reported on its most signifi cant changes. She has traveled across America to participate in dozens of industry events and has interviewed
hundreds of gaming operators,
executives and suppliers.
BMM qp strip CI
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