Atlantic City Weekly

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Atlantic City and its environs have been rocking with the rumor that Steve Wynn will be coming back to Atlantic City as a partner with Donald Trump in the demolition of the Trump Plaza and the construction of a $3 billion casino-hotel-condo complex that would stretch from Texas to Missouri Avenue, and from the Boardwalk to Atlantic Avenue. The area encompasses Boardwalk Hall and the West Hall, the former site of the Trump World's Fair Casino Hotel, which is now owned by developer Bruce Toll. Toll is on his way to building a major condominium complex on that site, as well as many housing units in the area from Texas to Georgia avenues.

To make the casino-hotel-condo complex proposition become a reality, the New Jersey and Sports Exposition Authority would have to agree to sell Boardwalk Hall. Just a few years ago the NJSEA spent $90 million to renovate the facility and turn it into one of the most successful event arenas in the nation. It would mean that Toll would have to agree to sell his site; that would be probable if the price was right. It would mean that all of the housing units would have to be bought individually as Mayor Bob Levy has publicly stated that eminent domain would not be used to aid in the accumulation of property for casino development unless it was a site that had one or two properties holding up the development.

It is understood that the N.J. attorney general is about to come out with a bill that would clearly define how and when eminent domain could be used. It is understood that the new definition of eminent domain use would not allow it on large tracts of land. It will be most interesting to see how this proposal, if it is true, will play out.

Every day one hears about real estate deals taking place. For example, word on the street is that Curtis Bashaw, former executive director of the CRDA, and partner with Wally Barr in the land formerly owned by Colony Capital, at Albany Avenue and the Boardwalk, has reached an agreement to purchase the Holiday Inn and Howard Johnson Inn, at Chelsea and Pacific avenues. It is anticipated that the facilities will be renovated into an attractive boutique hotel. Knowing Bashaw's penchant to restore the city's architecture of yesteryear, one would expect that the facility to be a most welcome addition to the to the city's hotel industry. This deal is one that Bashaw is doing by himself.

The three major hotel towers under construction at the present time (at the Borgata, Harrah's and the Taj Mahal) are all proceeding according to schedule. It is expected that they will all be completed by the end of 2007 or in early 2008 and will add close to 3,000 new rooms to the city's hotel room inventory.

Don Marrandino Jr., a Brigantine native who has been in the casino industry for several years, is now the president of Harrah's Las Vegas, the Imperial Palace and the Flamingo casino hotels. Last Monday, Marrandino was interviewed on Fox News about the changes taking place in Las Vegas and did his parents and friends proud in the way he handled himself. By the way, the Imperial Palace is where the Ms. Senior America Pageant will be taking place next week. Ms. Senior America New Jersey Johanne Santori will be vying for that crown, which will be decided on Nov. 11. Good luck and best wishes from all your friends, Johanne.

Writing about Las Vegas and the possibile razing of Trump Plaza here, brought to mind the story of the upcoming demolition of the 50-year-old Stardust Casino Hotel. The land will become the site of Boyd Gaming Corporation's $4 billion Echelon Place that will have four hotels, an expo center and a retail promenade. It is expected to open in 2010. Former Borgata CEO Bob Boughner gave up his position here to move back to Las Vegas to oversee the development of the project.

Today (Nov. 2) the Casino Control Commission will consider the application of the Wimar Tahoe Corporation, the gaming affiliate of Columbia Sussex Corporation, to obtain interim authorization to own and operate the Tropicana Casino Resort. They will also consider the application of Fred Buro to be a key casino employee and assume the duties and exercise the power of president and COO of New Jersey's Tropicana Casino Resort.

Larry Buck, currently Vice President and GM of Pinnacle Entertainment's Belterra Casino Resort in southern Indiana, will relocate to Atlantic City to assume the newly created position of Regional Vice President, overseeing the company's major Atlantic City project and Belterra. He also will hold the title of President of Pinnacle-Atlantic City. Kim Townsend, currently Pinnacle's Senior VP of Marketing, will serve as Executive Vice President of Pinnacle-Atlantic City, working with Buck on the development of Pinnacle's new major resort project.

For too many years West Atlantic City, which is between Atlantic City and Pleasantville on the Black Horse Pike, has had too many vacant lots and pitiful looking motels -- especially for the second busiest highway into Atlantic City. For those of you who do not know, West Atlantic City is a part of Egg Harbor Township. Many who drive along the Pike cannot help but notice the shabby conditions of the motels on the north side of the highway and the empty lots on the south side. Earlier this week, EHT's Mayor Sonny McCullough announced that there will finally be major development along that corridor. On the site of a former bowling alley, adjacent to the Hampton Inn, a new five-story, 246-unit hotel will be constructed. The owners are also seeking to buy several of the motel sites for possible future development of a high rise that could have condos, professional offices and parking.

The CRDA recently granted EHT $3 million to purchase some of the unsightly motels. The Compton Inn site has been purchased and will be demolished to make room for 200 condo units and a 200-boat slip marina. The above projects together with the present construction of a few hundred townhouse units on a lovely site overlooking Lakes Bay will just about fill in the vacant land on the north side of the highway. Why the sudden interest in West Atlantic City? Those in the know say that it is because of the movement to develop Bader Field. This has brought considerable interest from would-be developers who want to get into the action on a major road into Atlantic City.

Pinky's Corner airs Monday through Friday from 4 to 6pm on News Talk WOND-AM 1400. His TV show, WMGM Presents Pinky, airs Saturday at 7:30pm on TV40. Pinky's e-mail address is: pinky@atlanticcityweekly.com.