The shocking news in this is that someone, anyone, is actually considering moving into Atlantic City considering the state that it’s gotten itself into. But there is a possibility that Landry’s Restaurants, which operates restaurants under a variety of names including Vic and Anthony’s Steakhouse, the Crab House, Fish Tales and the “restaurantainment” eateries Rainforest Café and T-REX as well as resorts such as the Golden Nugget Hotel and Casino in Las Vegas and San Luis Hotel & Resort, will take over the Atlantic City Hilton Casino Resort.
Let’s go back a bit in history. Just to 1980 (rev up the DeLorean, Doc). In 1980, Steve Wynn opened the building that was to become Atlantic City Hilton Casino Resort , except Wynn opened it as the Golden Nugget. (Remember, Landry’s Restaurants now owns the Nugget. See a plot forming?) Then in 1987 Wynn sold the property, which was Atlantic City’s smallest casino, for about $440 million. In 1996 the Nugget changed name to the Hilton in another change of owner. Perhaps the name “Hilton” just doesn’t inspire gambling confidence. The resort has been called the city’s worst performing casino and is losing millions of dollars. So, jump in the Delorean and zip back to the present — the Hilton nee Nugget is in danger of being taken over by the bank that holds the mortgage.
And the Landry is waiting. If the bank forecloses on the resort, the Landry may buy the ill-fated Hilton and turn it back into the Golden Nugget. It would probably still be Atlantic City’s smallest casino, but Landry’s would renovate it and the Nugget name just might draw in more players.