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Bargain Prices: Bally's Unit Buys Atlantic City, N.J., Casino. (Originated from The Philadelphia Inquirer)
ATLANTIC CITY, N.J.--Dec. 30--Acquiring a casino property at Boardwalk and Park Place in this city of high stakes and low regulation just got a lot cheaper.
Bally's Manufacturing Corp., owner of Bally's Park Place, the city's most profitable casino, last week bought one of the seven remaining Boardwalk casino sites for a bargain-basement price of $7.4 million. The lot, located between Bally's Park Place Casino Hotel and Caesars Atlantic City Hotel- Casino, sold in 1984 for more than $17 million.
The sale, the first of a casino site in more than a decade, illustrates the dramatic drop in the value of casino property and other beachfront sites in recent years.
Land prices had risen after voters ...
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- Press release article from: Business Wire November 14, 2000 700+ words
...Nov. 14, 2000 Park Place Entertainment Corp...president of Caesars Atlantic City. Paul Henderson...who has taken the Atlantic City Hilton to new levels...president of the Atlantic City Hilton. Park Place Entertainment is...
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- Press release article from: Business Wire July 21, 1999 700+ words
...AccuSystem(TM), to Bally's Park Place and Wild, Wild West casinos (Park Place Entertainment Corp. (NYSE:PPE...AccuSystem units between these two premier Atlantic City resort casinos. "Park Place Entertainment began the purchase of...
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- Press release article from: Business Wire June 13, 2003 700+ words
...Business Editors ATLANTIC CITY, N.J...June 13, 2003 Park Place Entertainment...very best that Atlantic City has to offer." A longtime Park Place employee, Graham...officer for all of Park Place's Atlantic City properties...
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- Press release article from: Business Wire June 26, 2002 700+ words
...Los Angeles, and Park Place Entertainment Corporation...Dollar Pier on the Atlantic City Boardwalk into...expand and enhance Atlantic City's retail and...new complex, "Park Place on the Boardwalk...broaden the appeal of Atlantic City as a major ...
- Park Place Entertainment Proposes Atlantic City, N.J., Casino Merger.
- Newspaper article from: Knight Ridder/Tribune Business News September 24, 2002 700+ words
...News Sep. 24--Park Place Entertainment Monday...with Bally's Atlantic City. If approved...would create the Atlantic City's Boardwalk...redeploy assets, Park Place spokesman Rob Stewart...organization," Park Place Chief Operating...connected to Bally's ...
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- Press release article from: PR Newswire July 26, 2002 700+ words
...made its debut on July 21, 2001 from Bally's Park Place in Atlantic City, NJ. In a battle of lightweights, Leonard...21 ShoBox fights to date -- from Bally's Park Place in Atlantic City, N.J. to Braehead Arena in Glasgow, Scotland...
