Colony Capital completes acquisition of Resorts Atlantic City
ATLANTIC CITY, N.J. (AP) – A Los Angeles-based investment firm has completed its $140 million acquisition of Resorts Atlantic City.
Colony Capital LLC closed its deal with Sun International Hotels Ltd. on Wednesday. It comes one day after Colony agreed to sell Harvey’s Casino Resorts of Lake Tahoe, Nev., to Harrah’s Entertainment Inc. for $625 million.
Former Trump Hotels CEO Nicholas Ribis, who will oversee the Resorts operation, said Colony plans to add a 500-room hotel tower and is examining the possibility of developing a 10-acre property next door that is now used for surface parking.
Support Local Journalism
Support Local Journalism
Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.
