The Philadelphia Business Journal reported Wednesday that developer Joshua Wallack of Wallack Holdings met with Mayor Don Guardian and Councilman Frank Gilliam Jr. to discuss construction of a “combined vertical roller coaster.” Also called a “polarcoaster,” the structure also features a drop tower structure, the report said. The height of the tower has yet to be determined. The report said the attraction would most...

A half-million-square-foot retail-entertainment complex at the former Pier Shops will open sooner than expected, with dining directed by noted chef Jose Garces, Philadelphia developer Bart Blatstein said at a news conference   The first phase of a $50 million renovation to transform the upmarket but down-on-its-luck oceanfront mall into an all-American party pit called The Playground will open June 26, Blatstein said. His company,...

ATLANTIC CITY — Gross operating profits for Atlantic City’s casino industry more than doubled in the first quarter as the eight survivors benefited from the closings of four competitors last year.The key indicators show that the current operators continue to improve,” Levinson said. “Gaming revenue is up, total revenue is up, net revenue is up, gross operating profits are up, hotel occupancy rate is up and the average room rate is...

Since it arrived in 1978, casino gambling has been the engine driving Atlantic City’s economy. But with casinos and slot parlors cropping up in nearby states like Delaware and Pennsylvania, the city’s portion of the Northeast gambling industry has gotten smaller, from a high of $5.2 billion in revenues in 2006 to $2.5 billion this year. Last year, four casinos, including its newest and largest, Revel Casino Hotel, closed, resulting in...

ATLANTIC CITY – City officials are trying to acquire a parcel of land that they say will make the Gardner’s Basin expansion more attractive to developers. Before putting out requests for proposals (RFPs) for the redevelopment of the basin, in the Northeast Inlet, to become more like Baltimore’s Inner Harbor with retail and restaurants, the city wants to acquire Caspian Point – a 9.8-acre parcel, also known as the Kushner...

Upmarket restaurants that did brisk business at Revel even as their host floundered “seem to be the logical choice for tenants” when the property reopens, Glenn Straub told their attorney in a letter, inviting the restaurateurs to discuss rent terms But unlike their arrangement with Revel, where rent was tied to sales, contracts with Straub’s Polo North Country Club Inc. will be triple-net leases, meaning tenants will be obligated to pay...