ATLANTIC CITY — A proposed $17.6 billion takeover of Caesars Entertainment could eventually put four Atlantic City casinos under the same broader ownership umbrella, and longtime casino analyst Anthony Marino says that raises a question the resort industry may have to confront: Will all four remain part of the company’s long-term plans?
Marino, appearing Monday on The Don Williams Show, said uncertainty surrounding the pending acquisition is already fueling rumors among Atlantic City casino employees, particularly at Tropicana and Golden Nugget.
But Marino repeatedly cautioned that no decision has been announced.
“Nothing is for sure. Nothing at all is for sure,” Marino said.
The uncertainty stems from Fertitta Entertainment’s agreement to acquire Caesars Entertainment in an all-cash transaction valued at approximately $17.6 billion, including the assumption of approximately $11.9 billion in Caesars debt.
The deal was announced May 28 and remains subject to shareholder approval and regulatory review. Caesars shareholders are scheduled to vote on the merger at a special meeting Sept. 22.
Fertitta Entertainment already owns Golden Nugget, including Golden Nugget Atlantic City. Caesars currently owns and operates Caesars Atlantic City, Harrah’s Resort Atlantic City and Tropicana Atlantic City.
If the merger closes as proposed, the combined organization would therefore have interests in four of Atlantic City’s nine casinos.
Marino: Four properties may be too many
A caller to Monday’s program asked Marino about rumors being discussed among casino workers, including speculation that Golden Nugget could close or be converted to another use and that Tropicana could eventually be sold.
Marino stressed that those scenarios remain speculation.
“Those are two logical conclusions,” Marino said, before quickly adding that nothing has been publicly announced and that rumors could persist for some time.
He said employees could be forced to live with uncertainty while the transaction moves through the approval process.
“Tropicana is going to be sold. Golden Nugget is going to be closed. Nothing is for sure,” Marino said, describing the rumors rather than confirming them.
Marino said he does not believe giving up Golden Nugget’s casino license would necessarily make sense, particularly because of the property’s online gaming and sports-wagering relationships.
He then offered his own assessment of which property could potentially draw the most scrutiny.
“I think Tropicana is more likely a target,” Marino said.
But he immediately cautioned listeners that he was not reporting a deal or inside information.
“I don’t want to spread rumors that I’ve heard anything special about that,” Marino said.
No sale or closure announced
South Jersey NewsBeat found no announcement from Fertitta Entertainment or Caesars that Tropicana, Golden Nugget, Caesars Atlantic City or Harrah’s will be sold or closed as part of the pending transaction.
In fact, Caesars has continued investing in its Atlantic City properties.
Tropicana opened its newly redesigned 598-room Solana Tower in February, describing the project as part of the resort’s continuing evolution. Caesars Atlantic City also announced a new beachfront club for the 2026 summer season.
The merger announcement also said Caesars’ existing senior executives and property-level management and personnel are expected to remain in place following the transaction.
That does not guarantee every casino will remain in the combined company indefinitely, but it underscores the distinction between Marino’s analysis and any announced corporate plan.
Four casinos, one ownership question
Marino said the basic issue is the concentration that would result if the deal closes.
“He knows he has four properties here in Atlantic City should this deal go through,” Marino said. “And the fact is, four properties, frankly, is too many.”
Marino said the eventual question could become whether the combined company keeps three, two or all four.
“I would assume he would keep two of those four casinos,” Marino said, before emphasizing: “But I’m just guessing, really.”
Any ownership changes involving New Jersey casino properties would be subject to the state’s extensive casino licensing and regulatory framework. The Fertitta-Caesars merger itself remains subject to applicable regulatory approvals.
Casino workers get only one-year labor deals
The ownership uncertainty comes as Atlantic City’s casino industry is also preparing for additional competition from new casinos in the New York metropolitan market.
UNITE HERE Local 54, the casino workers union, recently reached one-year labor agreements covering all nine Atlantic City casinos, a notably shorter term than traditional multiyear agreements.
Marino described the short-term agreements as fitting the current climate.
“We have nine casinos that are waiting to see what’s going to happen in the next year,” he said.
He said the contracts give both workers and operators some stability while leaving room to reassess conditions as ownership questions and regional competition develop.
Three casinos Marino sees as strongest
Marino also identified Borgata, Ocean Casino Resort and Hard Rock Hotel & Casino Atlantic City as the three properties he currently views as particularly well positioned.
Asked whether Borgata and Ocean were the safest properties, Marino added Hard Rock to the list.
“They’re three solid ones,” he said, arguing they should be capable of competing effectively with casinos opening in New York.
For Tropicana, Golden Nugget, Caesars and Harrah’s, however, Marino believes the Fertitta acquisition creates questions that may not be answered immediately.
The key distinction for casino employees and the public: There is currently a pending acquisition — but there is no announced plan to close or sell any Atlantic City casino.
Anthony Marino appeared on The Don Williams Show, heard Monday through Friday from 6 to 10 a.m. on News Talk 1400 and 92.3 WOND.
About the Author
Scott Stephens
Scott has been an on-air personality, producer and newscaster for 30+ years. He has been a mainstay in the South Jersey Community and on the air across many different area stations. Scott can currently be heard on Kool 98.3 and News Talk 1400 & 92.3 WOND.
