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Article: Casino deal set to close.
- Article from:
- The Philadelphia Inquirer (Philadelphia, PA)
- Article date:
- November 1, 2006
CopyrightCOPYRIGHT 2006 The Philadelphia Inquirer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Suzette Parmley
Nov. 1--The latest effort to develop a new casino in the $5 billion Atlantic City gambling market is expected to take another step forward today when an investor group closes on an $85 million deal to purchase 11 acres from the Atlantic City Hilton Casino Resort. Led by former Caesars Entertainment Inc. chief executive officer Wallace R. Barr and by a former head of the New Jersey Casino Reinvestment Development Authority, the group plans to build a small casino with a hotel and retail space on the site along the famed Boardwalk. "Everything is done on our end. We expect the transaction to close today," said a spokesman for Resorts ...
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