ATLANTIC CITY, NEW JERSEY One of the gaming industry’s most famous leaders, Dennis Gomes, is back in Atlantic City with the purchase of Resorts Casino Hotel.
Gomes Gaming Inc. has entered into an agreement with RAC Atlantic City Holdings LLC to purchase the 942-key property. The purchase is subject to approval by the New Jersey Casino Control Commission and customary closing conditions; terms of the purchase have not been disclosed.
Gomes is perhaps most famous for his stint with the Nevada Gaming Control Board, when his investigations into Las Vegas mob ties formed the basis for the 1995 Oscar-nominated film, “Casino.” He also worked for the New Jersey Division of Gaming Enforcement, overseeing the original licensing process for Resorts Casino Hotel back in the 1970s. He has an extensive career on the management side of the gaming industry as well, having worked as a manger or CEO for 14 gaming properties, including Tropicana Casino and Resort and Trump Taj Mahal in Atlantic City.
He plans to return the Resorts Casino Hotel to profitability and its historic role of prominence in the Atlantic City market. “I believe in this property,” Gomes says. “It heralded the beginning of casino gaming in the East and has always had a special place in my heart. It is an exciting place with a lot of history, and we are going to bring it back to life with even more energy and vitality than it possessed at its creation in 1978. I promise everyone that it will ultimately be the place to be and to be seen and will be the center of fun and excitement in our fabulous city.
“I have a passion for Atlantic City and believe in its future. I have disagreed with the doom-and-gloom analysts who have painted a bleak picture of our city,” Gomes says. “We have lost some market share because of the convenient locations of slot parlors in Pennsylvania, Delaware and New York, but in the long run, Atlantic City will prevail. It is the only resort destination on the East Coast that can offer a multitude of gaming choices combined with retail, entertainment and dining experiences in one convenient location with beautiful beaches along a magnificent ocean setting. I have a strong belief that customers who have left Atlantic City for the convenience of slot parlors closer to them will tire of that experience and return to the fun and excitement that Atlantic City has to offer.”
Paul Faver of JB Real Estate Investment Group LLC provided acquisition advice to Gomes Gaming in connection with the transaction. Cantor Fitzgerald & Co. served as financial advisors. Cooper Levenson provided legal services.
Gomes Gaming is a private company owned and led by gaming executives Dennis Gomes and Aaron Gomes. The company was most recently involved in the design, development and management of the Indiana Live Casino in Indianapolis.