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Resorts Casino in A.C. on life support

14 September 2009

ATLANTIC CITY, New Jersey -- As reported by The Philadelphia Inquirer: "Diane George vividly remembers opening day at Resorts Casino Hotel, the city's first, more than three decades ago.

"George, then 25, was among the scores who braved a long line to get through the glass doors on May 26, 1978, and helped set the stage for what would become Atlantic City's destiny.

"...But the celebratory atmosphere of that day has long since faded. Today, Resorts is fighting for its life.

"State gambling regulators could rule as early as this week whether Resorts will be taken over by its lenders or continue to struggle on its own as its revenue slides. Closure is a possibility.

"Resorts has not made a payment on its $360 million mortgage since October. On Aug. 14, it filed a petition with the New Jersey Casino Control Commission to transfer ownership to its lenders..."

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