The shuttered Trump Taj Mahal casino in Atlantic City has found a buyer.
The new owner will be a group of investors led by Hard Rock International, the company behind Hard Rock Cafe.
President Trump once operated the hotel, but financed the project with junk bonds and could not cover their payments. He parted ways with the place in 2009.
Carl Icahn, who serves as an adviser in Trump’s administration, bought the place in early 2016 in a bid to save the failing establishment. The casino and hotel closed its doors in October 2016 after years of struggling to stay afloat.
Icahn Enterprises, which announced the sale Wednesday, said last year that it’s “lost almost $100 million trying to save the Taj.”
The Taj isn’t the only Atlantic City casino to fall on hard times. It was the fifth to close since 2014. As the city’s hallmark industry has failed to turn profitable, the local government has been strapped for cash and teetered on the brink of bankruptcy for months.
Best Casino Stocks To Invest In 2018: SanDisk Corporation(SNDK)
Advisors’ Opinion:
- [By Michael Flannelly]
Early on Friday, analysts at RBC Capital boosted the near-term estimates on SanDisk Corporation (SNDK), a manufacturer of data storage products, because a fire at SK Hynix’s factory should lead to favorable pricing over the next two quarters.
“We see a favorable pricing environment as a result of SK Hynix’s fire, which threatens to curtail NAND output as the company likely re-purposes production back toward DRAM, resulting in lower than expected incremental NAND wafers vs. company’s plan of 170K/WPM,” RBC Capital analyst Freedman said. “Consequently, we see stronger pricing through EoY before SK Hynix ramps NAND toward normalized prod’t levels as DRAM resources are restored/replaced.”
The analysts maintain an “Outperform” rating on SDNK and still see shares reaching $76. This price target suggests a 26% upside to the stock’s Thursday closing price of $60.08. Furthermore, they boosted SanDisk’s 2013 EPS estimates from $4.82 to $4.95.
SanDisk shares were up a fraction during pre-market trading on Friday. The stock is up 38.11% year-to-date.
Best Casino Stocks To Invest In 2018: Apogee Enterprises, Inc.(APOG)
Advisors’ Opinion:
- [By WWW.MONEYSHOW.COM]
Let me introduce you to Apogee Enterprises (APOG) a company with “yuge” profit potential. Founded in 1949 and headquartered in Minneapolis, Minnesota, APOG designs and develops glass solutions for commercial buildings.
Best Casino Stocks To Invest In 2018: CSI Compressco LP(CCLP)
Advisors’ Opinion:
- [By Lisa Levin]
CSI Compressco LP (NYSE: CCLP) shares dropped 15 percent to $7.90. CSI Compressco lowered its quarterly cash distribution to $0.1875 per outstanding common unit. CSI Compressco is expected to release its Q1 earnings results on Tuesday, May 9, 2017.
Best Casino Stocks To Invest In 2018: Identiv, Inc.(INVE)
Advisors’ Opinion:
- [By Lisa Levin]
The industries that are driving the market today are:
Cement: This industry gained 3.4 percent by 2:30 pm. The top stock within the industry was Cemex SAB de CV (ADR) (NYSE: CX), which gained 4.7 percent. Cemex’s PEG ratio is 0.16.
Computer Peripherals: This industry rose 2.6 percent by 2:30 pm ET. The top performer in this industry was Identiv Inc (NASDAQ: INVE), which gained 13.5 percent. Identiv shares have climbed 44.83 percent over the past 52 weeks, while the S&P 500 index has increased 8.61 percent in the same period.
Internet Service Providers: The industry gained 2 percent by 2:30 pm. The top performer in this industry was TrueCar Inc (NASDAQ: TRUE) which gained 3.4 percent. TrueCar shares have jumped 60.90 percent over the past 52 weeks, while the S&P 500 index has increased 8.61 percent in the same period.
Regional – Southwest Banks: This industry moved up 1.9 percent by 2:30 pm. The top performer in this industry was Veritex Holdings Inc (NASDAQ: VBTX), which rose 6.6 percent
Best Casino Stocks To Invest In 2018: SPDR Blmbg Barclays Em Mkts Lcl Bd ETF (EBND)
Advisors’ Opinion:
- [By Todd Shriber, ETF Professor]
DWFI also holds the SPDR Barclays Emerging Markets Local Bond ETF (NYSE: EBND), SPDR Barclays International Treasury Bond ETF (NYSE: BWX) and the SPDR Barclays Intermediate Term Corporate Bond ETF (NYSE: ITR).
