Search site

News

MGM, Caesars and Red Rock Revenues Rise as Vegas Casino Sector Thrives

09/11/2016 02:02
The strength of the casino market on the Strip is brightening up financial reports, as are domestic markets in general. (Image: Gavin Hellier / Getty Images) A booming Las Vegas Strip helped Nevada’s casino giants to a positive Q3, as MGM Resorts International, Caesars Entertainment Corp and...

Hard Rock Casinos Looks to Rock ‘N’ Roll Into Japan

09/11/2016 02:01
Rock ‘n’ roll was cultivated in the United States, but Hard Rock is hoping to take its casino act to Japan. (Image: Chris Harris/thetimes.co.uk) Hard Rock Café International Inc. is the latest casino company in the United States to set its sights on Japan. The privately owned Florida-based...

Downtown Grand names 4 new executives

21/09/2016 11:38
    A view of the lobby following an official opening ceremony for the Downtown Grand in downtown Las Vegas Tuesday, Nov. 12, 2013.   The Downtown Grand has a slate of new executives. Management announced today that Marie Ramsey was hired as chief financial...

California Indian Tribe to Test Online Poker Laws in Opening Website

17/09/2016 18:41
    Instead of waiting for the California General Assembly to enact regulations for online poker in the state, an Indian tribe in the state has taken the bold step of opening up their own online poker room that will test several state and federal laws. Late last week, the...

BetOnSoft rebrands to Saucify

17/09/2016 17:36
  LONDON -- (PRESS RELEASE) -- Cutting-edge casino games provider BetOnSoft today announces that it has rebranded to Saucify. The new brand name is evocative of adding sauce to a dish to make it more exciting and flavorsome, exactly what Saucify has been doing for the past eight years in the...

IGT-GTECH deal called plus for industry

17/09/2016 17:34
    LAS VEGAS -- IGT - International Game Technology’s $6.4 billion buyout at the hands of lottery giant GTECH Corporation was all about timing. After years without consolidation of the manufacturing side of the gaming industry, the deal between Italy-based GTECH and Nevada-based...

Card Player Poker Tour to make stop at Bicycle Casino in Southern California

10/09/2016 17:33
  (PRESS RELEASE) -- Card Player Media has announced that he next exciting stop on the Card Player Poker Tour will take place at the Bicycle Casino in Bell Gardens, California with a nine-tournament series beginning September 21. The highlight of the series will be the $1,000 no-limit...

Neighbor who triumphed over Trump is moving on

18/09/2016 11:40
 
Image

Mel Evans / AP

The Trump Plaza towers over Vera Coking’s three-story rooming house Wednesday, July 23, 2015, in Atlantic City. The decrepit boarding home owned by the Atlantic City woman who has been turning down multimillion-dollar offers for the building in the shadow of Trump Plaza since the 1980s is now up for auction.

 

She once called Donald Trump "a maggot, a cockroach and a crumb." This week, he remembered her as "an impossible person."

The woman who became a folk hero for resisting decades-long efforts by big-name developers like Trump to displace her Atlantic City boardinghouse is now 91 and, apparently, the victor.

Vera Coking has moved to California to be near her family. And the 29-room property she and her husband bought for $20,000 in 1961 and fought to hold onto is on the auction block Thursday for a $199,000 starting bid. The now-vacant property had been listed for $995,000 since September.

The long-running saga has paralleled the rise and fall of Atlantic City's real estate fortunes, which in recent months imploded. The decision to auction the property was made by Coking's family after they could not find a buyer in recent years, said Oren Klein of AuctionAdvisors, which is handling the sale.

The road to the auction block has been circuitous. Coking first took on Penthouse publisher Bob Guccione in the 1970s, who was reportedly so angered by her refusal to sell that he started building his casino above and around her property.

Trump, who bought Guccione's unfinished project, also tried to buy Coking's building to tear it down and use the land for his Trump Plaza Hotel and Casino. Coking battled with Trump and prevailed in a 1998 state Supreme Court case that blocked attempts by the state to use eminent domain to condemn the property.

Coking's one-woman battle was closely followed in the press and by the people of Atlantic City, where she and her property, sitting defiantly in the shadow of Trump's casino, have been a familiar sight for decades.

The modest, three-story clapboard structure is a block from the famous Atlantic City boardwalk and adjacent to the casinos, that like Trump's, have sought to expand their parking facilities or outdoor footprint.

AuctionAdvisors has been stressing the boardinghouse's location just steps from a planned Bass Pro shop and adjacent to an outlet mall that the city advertises as a main attraction. Klein and his associates say that they are confident that Atlantic City will bounce back and that the Coking property is a great buy in one of the last affordable beachfront towns in New Jersey.

Since then, Atlantic City's real estate market and casino businesses have faltered. Trump Plaza may close in September, although Trump himself is largely divested.

The portrait of Coking as a principled holdout is wrong, Trump said, asserting that she had been willing to sell but that they could never agree on a price.

"She could have lived happily ever after in Palm Beach, Florida; instead, she was an impossible person to deal with," Trump told The Associated Press this week. In addition to millions of dollars, he said, he had offered Coking housing for the rest of her life in one of his properties.

The famously stubborn Trump laughed off a question as to whether he would bid on Coking's home — just to have the last word.

Coking's grandson, Ed Casey, previously told the Press of Atlantic City that it wasn't true his grandmother had once been offered millions. He said she wasn't opposed to selling but was proud to live in and fight for her longtime home.

Messages left at a California listing for Casey were not returned, and Klein said the family had told him they no longer wished to speak publicly about the matter. Information about Coking's health wasn't available.

But back in the day, Coking wasn't afraid to throw a zinger. At the height of their battle in 1998, the 70-year-old Coking said of Trump to the New York Daily News: "A maggot, a cockroach and a crumb, that's what he is."

"If Trump's thinking I'm gonna die tomorrow, he's having himself a pipe dream," she said then. "I'm gonna be here for a long, long time. I'll stay just to see he's not getting my house. We'll be going to his funeral, you can count on that."