Issue 124
January 27 - February 2, 2003
Volume 3
page 2
 

Aladdin Seeks New Owner

The Aladdin Hotel & Casino, which filed for bankruptcy just a year after its August 2000 opening, is seeking a new owner. The Las Vegas Strip mega-resort, with asking price of $400 million to $500 million, has 2,565 hotel rooms.

From the onset, the casino ran into such difficulties as construction delays, an overspent budget, and even its grand opening postponement due to fire safety system testing. Design flaws including poor casino access for pedestrians and vehicles kept many visitors away. "The property got off to a bad start," Bill Timmins, Aladdin president and chief operating officer, said recently. "It never really had a chance."After more than 15 months of reorganizing, and a 30 percent reduction in workforce, the Aladdin is hanging on. In the past several months, the Aladdin has managed to stave off a desperation sale and settle a lawsuit that threatened to derail sale efforts.

It has also completed several projects inside the casino, aiming to attract more customers. "The property is much more competitive than it was when it opened," Timmins said. "We've made a lot of headway because we had to." The Aladdin owes secured creditors more than $537 million and about $85 million to unsecured creditors, according to its most recent monthly operating statement.


Oklahoma Casino Reopening Under New Management - GROVE, OK – A gaming operation that closed three months ago reopened on Jan. 22nd under a new name and new management. The former Seneca-Cayuga Casino is now known as the Grand Lake Casino, General Manager Rick Smith said. "An Arizona company owned by Marc Dunn is operating the casino," Smith said. Smith also works as general manager of the Quapaw Tribe's casino near Miami.

The reopened casino offers off-track betting, Megamania and rocket games. The casino also offers blackjack and a new sports bar serving alcoholic beverages and equipped with 15 televisions airing multiple sporting events.

Borgata Opens Employment Center - ATLANTIC CITY, NJ - Borgata Hotel Casino & Spa, a $1 billion joint venture development of Boyd Gaming Corporation and MGM MIRAGE, set to open Summer 2003, opened its Employment Center at the Atlantic City Convention Center on Wednesday, January 22, at 11 a.m. following a ribbon-cutting ceremony.

Borgata, located at Renaissance Pointe in the Marina District of Atlantic City will feature 2,002 guest rooms and suites, 135,000 square feet of gaming, 145 gaming tables, 3,650 slot machines, 11 destination restaurants, 11 retail shops, a European spa, 70,000 square feet of event space, a 1,000 seat theater, and parking for 6,300 cars.

The Employment Center is part of an advanced recruitment campaign launched by Borgata, who will hire approximately 4,800 associates for positions ranging from front desk agents and blackjack dealers to restaurant managers. Borgatajobs.com , a user-friendly web site powered by PeopleSoft HRIS, started taking applications in October 2002. Invitations will direct applicants to use the web site or an interactive voice response system to self-schedule an in-person interview at the Employment Center. Prospective applicants, without online access, can use one of the 30 computerized kiosks at the Employment Center to complete an application. The Employment Center will be open from 8 a.m. to 8 p.m., Monday through Saturday.

Damon Wayans

Damon Wayans will appear at the Hilton Theatre at Las Vegas Hilton January 25-26, 2003.

Price:
$45.00, $55.00

Price Note:
Prices do not include tax and fees

Show Time:
10:00 p.m.

Reservations:
Reservations Recommended

Age Restrictions:
Must be 21 years of age or older

For more information please call: (866) 80-SHOWS
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