Atlantic City Hilton

From Wikipedia, the free encyclopedia

Atlantic City Hilton was first built by Steve Wynn in 1980 and named Golden Nugget Atlantic City. It was the first in Atlantic City to be built from the ground up as a luxury casino hotel, rather than being a renovation of an old non-gaming Atlantic City Hotel. Soon thereafter the property was sold to Bally's Entertainment Corporation, which changed the property's name to "Bally's Grand". The sale was prompted by Steve Wynn's frustration with gaming regulators in New Jersey.[citation needed]

After the Hilton Hotels Corporation acquired Bally Entertainment, the property was renamed Atlantic City Hilton. In 1998, Hilton Corporation spun off its casino properties into a new company initially called Park Place Entertainment and later renamed Caesars Entertainment.

In 2000 Nicholas L. Ribis (a former advertising executive with Trump Hotels and Casino) in partnership with Colony Capital, LLC (Thomas J. Barrack) bought the poorly-performing Resorts Atlantic City for US$140 million and created the company "Resorts International Holdings". Then, in 2005, they set out to buy four Harrah's and Caesars properties including the Atlantic City Hilton, for a combined total of $1.24 billion.

Currently, The Resorts Atlantic City and Atlantic City Hilton are managed as a single entity "Atlantic City Hilton and Resorts Atlantic City" whose president (as of May 3, 2006) is Anthony Rodio. Anthony Rodio has been employed by Resorts since the 1980s when it was owned by Merv Griffin. Atlantic City Hilton's current Casino Manager is Joe Nicosia, who has been attached to the property since its very beginning.

[edit] References

v • d • e
Casinos in Atlantic City, New Jersey
Boardwalk casinos
Marina casinos