Gomes: Bringing Back Resort Atlantic City to Life
Dennis Gomes, an expert of Gambling Industry and Martin Scorsese’s “Casino” movie fame, is going to purchase the oldest casino resort of New Jersey “The Resorts Atlantic City”. Gomes Gaming Inc, Casino Control Commission of New Jersey, is going to approve the deal and the purchase of the resort cum casino will be finalized.
In the beginning of his career, Gomes acted as law enforcement officer at Nevada Gaming Control Board. Later on, he became the head of special investigation bureau of Gaming Enforcement. Here, he approved or disapproved the Resort’s original licensing.
According to an e-mail by Linda M Kasseker Gomes, Chairman of Casino Control Commission of New Jersey, Gomes will prove to be a positive development, when it comes to the Atlantic City. Gomes has proper experience to operate and manage resorts and casinos. He will improve the property along with creating more employment chances and preserving the jobs of 2,100 people working at Atlantic City at the moment.
As stated earlier, Gomes is quite experienced in managing resorts. Till date, 14 different casino resorts have been managed by him. He has also managed resorts properties that belonged to various industry giants like Aztar Corp and Trump Entertainment Resorts Inc. Resorts Atlantic City was opened back in 1978 and was the first casino operating outside of Nevada in US. There were 942 guest rooms, two hotel towers and a spacious casino of around 100,000 square feet.
According to Gomes, “I am going to get the Resorts Atlantic City back into life”. “I totally disagree with the analysts that presented a black picture of this city”.
Due to a missed payment on a loan of $360 Million from November 2008, Colony Capital LLC handed the legal documents of the Atlantic City Resorts to the mortgage holders. The group was led by the Credit Suisse Group. It was against foreclosure, which was done in December 2009.
Paul Faver (JB Real Estate Investment Group LLC) presented purchase counsel to Gomes Gaming. This was in connection with the deal. Financial advisory was provided by Cantor Fitzgerald & Co, whereas legal services were offered by Cooper Levenson.
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