After struggling to keep up with competitors, the casino is currently having a problem with construction workers, as the former employees say they have yet to be paid. It seems problems are mounting to your place, and it may only get worse from here.
Caution Signs:
It sounds warning signs are beginning to pop up that indicate the house is in trouble. Late afternoon, the casino asked that the Casino Control Commission eliminate an application for temporary approval of a senior executive for the company. Bruce Deifik, the owner of the house, was supposed to look during a forum but canceled.
Based on The Press of Atlantic City…
A significant dilemma the company is facing involves liens that were filed within the Atlantic County Clerk’s Office. Construction companies have been filing liens, claiming they weren’t paid by the provider. Calvi Electric registered a lien as well, but it had been discharged.
The casino cost $2.4 billion to assemble and it had been estimated that once finished, the first fiscal year could bring in just over $384 million. On the other hand, the casino has not been as powerful as estimated. The place earned $84 million from July to November, with only 1 month in that time frame reaching $20 million. The casino continues to be at the bottom or near last place in regards to monthly revenues.
In addition to the issues plaguing the casino, they are also being sued by a former partner. Back in December, a suit was filed against the casino with a former partner involved in the HQ2 club. The suit is seeking $10 million, as Joe Morrisey asserts that he never got his fair share from a beachclub/nightclub of their property.
Reportedly Morrisey is expected a cut from the seven-figure profits and needed to confront Bruce Deifik over sexual harassment allegations from employees of the HQ2 salon. Morrisey asserts that he aided Deifik increase the $10 million needed to renovate the club space. Reportedly, Morrisey has been set to get 30% of their profits from the club, and a $200,000 salary. A total of 49 percent was to be provided in the event the club has been sold.
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