Extraordinary Joe

Joe Weinberg had a busy 2008. Starting with an agreement reached in late 2007 to get involved with a racetrack in Indiana that was adding a slot parlor, Weinberg was involved in a bid for a casino license in Kansas, and a proposal to buy the Tropicana in Atlantic City after New Jersey regulatory authorities pulled the license of the former owner, Columbia Sussex, and put property up for sale.

The Indiana property opened last summer when Indiana Live unveiled a temporary facility that has been very successful. The company won the license, along with the Kansas Speedway, to build a Hard Rock Casino there, but recently withdrew the bid after the state refused to allow Cordish to open the property in phases. And the
Tropicana bid speeds to completion now that the legal challenges have surmounted. And since Cordish is the only bidder, the company should become the owner of one of Atlantic City’s largest casino resorts.

Weinberg’s 20 years with the Cordish Companies have been rewarding. He’s been involved with all of its notable developments, including the Inner Harbor and Power Plant in its hometown of Baltimore; the Walk Outlet Shops in Atlantic City; Woodbine Live in Toronto, Canada; and many others, including Seminole Hard Rock Casino
Hotels in Hollywood and Tampa, Florida.

Cordish stands on the threshold in 2009 of becoming one of the most important new companies in the gaming industry. In addition to a permanent casino in Indiana Live and the possible purchase of the Tropicana, the company is eyeing the opportunity in Anne Arundel County to build a recently authorized slot parlor.

“We’re closely examining this opportunity,” says Weinberg.

In addition, Weinberg says his company is in good position to consider purchasing any of the casinos which some of the larger casino companies in financial difficulties may divest.

“Our company is more liquid then most,” he says. “We’ll take a look at any possible deal, and if it works for us, we’ll go forward.”

Along with Cordish’s operations partner, former Tropicana president Dennis Gomes, Weinberg believes his company is well positioned to become a major player in the gaming industry.