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Borgata Pulls $1,000 Slot Machines

One of CEO Bob Boughner’s favorite photo props inside Borgata Hotel Casino & Spa – the twin $1,000 slot machines – are on the shelf.

Borgata removed the two games earlier this winter and has asked manufacturers to develop a model that hits more often (albeit at lower amounts) and is unique to Borgata, Vice President Paul Tjoumakaris said. The $1,000 Red, White and Blue and Double Jackpot models were converted to $100 games similar to those found in other casinos.

Borgata made the decision after learning that Caesars and possibly others planned to introduce similar games, he said.

"We didn’t feel right about the ones we had to begin with," Tjoumakaris said.

Still, the $1,000 games gave Borgata valuable publicity and a high-roller cachet while doing a decent business, Tjoumakaris said.

He said he hopes to have the new games online by summer.

Trump hopes to build after recapitalization.

If Trump Hotels & Casino Resorts can complete its proposed recapitalization, which includes a $400 million equity infusion, Donald Trump said he’ll be able to do something he’s never done in Atlantic City: build from the ground up himself.

Trump Marina was fully built when he bought it from unlicensable Hilton Hotels Corp.; Trump Taj Mahal was under construction when he acquired it through his purchase of Resorts International; and Trump Plaza was a joint venture with Harrah’s/Holiday Inn.

"Look at my buildings in New York – they’re the best in the world, but I’ve never been able to do the Trump thing in Atlantic City," he said.

Cash flow drop means no bonus for Trump.

Donald Trump missed out on a $1.5 million minimum bonus due to his company’s big decline in cash flow last year.

Under a contract restructured last year, Trump was to receive the bonus if his company’s cash flow exceeded $270 million, plus 5 percent of the amount over $270 million.

Read the entire article at: Press of Atlantic City 

2004 Online Casino News Archive

 

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