![]() “What he is is one of the world’s great showmen.” “Merv’s not a businessman,” Murray Schwartz, a former business associate, claimed. “It did not seem to (make economic sense) on any basis.” “There were always questions why Merv Griffin would pay that kind of price,” said one longtime Atlantic City casino executive who asked not to be identified. Griffin, meanwhile, kept the other assets, including the Resorts casino and vacant land in Atlantic City as well as three hotels and a casino on Paradise Island near Nassau in the Bahamas. The takeover battle ended when Trump, who had been Resorts’ controlling shareholder, bought the company’s interest in the unfinished Taj Mahal, a $1-billion, onion-domed casino complex that is expected to open next year as Atlantic City’s 12th gaming house. Gallagher, an attorney for Resorts in the New York office of Gibson, Dunn & Crutcher. “He has basically said that with the benefit of hindsight, there is no question that he would not do the same deal all over again,” said Thomas E. Most of the money for the purchase was raised through the sale of high-yield junk bonds. Critics say Griffin paid too much for a company whose casino in Atlantic City has been in decline for years.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |