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Former Caesars CEO Announces New Casino In Atlantic City

By Chuckmonster on Saturday, 23rd September 2006 1:19am
  » filed under Las Vegas  comments: 0


The Philadelphia Inquirer is reporting that a consortium of developers headed by Wallace R. Barr, former CEO of Caesars Entertainment has purchased 11 acres of land nearby the Atlantic City Hilton from the Hilton's owners Colony Capital for $85 million dollars. The new site is where the unfinished Dunes Casino Hotel Atlantic City stood for many years after the project collapsed mid-stream.

This is the third major casino related announcement in Atlantic City this year. The others being the purchase of 20 acres adjacent to the Showboat by Morgan Stanley Investment Firm, and the purchase of the Sands Atlantic City by Pinnacle Entertainment earlier this month. The Sands AC will to be closed later this year and its replacement should open in late 2010.

Its boomtime in AC Baby!

Interestingly, the new joint is supposed to be modeled after Red Rock in Vegas.

Two Atlantic City executives familiar with the Barr-Bashaw group's plans said the new casino would be comparable in size and amenities to the new Red Rock Casino, Resort & Spa by Station Casinos Inc. in Las Vegas - a property that caters to the needs of gamblers who spend more time and money than day-trippers. It would include a hotel, shopping and multi-story parking garage.



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