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Article: Park Place Entertainment Proposes Atlantic City, N.J., Casino Merger.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 24, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. 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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By Rod Smith, Las Vegas Review-Journal Knight Ridder/Tribune Business News
Sep. 24--Park Place Entertainment Monday submitted plans to New Jersey gaming regulators to merge the historic Claridge Casino Hotel with Bally's Atlantic City.
If approved, the merger would create the Atlantic City's Boardwalk's largest casino resort.
The merger is part of the company's overall, long-term strategic plan to redeploy assets, Park Place spokesman Rob Stewart said.
The fundamental goals of the plan are to increase convention business, boost revenue and realize operational efficiencies, he said.
"The Claridge story plays into our ...