Some more information has come out about Dennis Gomes plans to purchase Resorts Casino, including how much the city’s oldest casino costs in today’s market.

Gomes and his partner, Morris Bailey, a New York real-estate developer, are buying to property for a bargain basement $35 million.

Consider that just three years ago Resorts refinanced for $360 million in loans.

Bailey’s partnership with Gomes was also disclosed for the first time Wednesday.

Bailey, who grew up in Atlantic City told The Wall Street Journal:

“I think there’s a point in time when it’s time to go in, and now is the time,” Mr. Bailey said  “Atlantic City will be able to re-create itself now. Will it ever get back to its peak in gaming? Probably not. But based on the value structure, the economics are better now than they ever were.”

For the Journal’s story go here.

To read AC Weekly’s recent interview with Gomes, go here.

If you’re a fan of the CBS reality television series, The Amazing Race, here is some amazing news. Resorts will offer visitors to Atlantic City a chance to be a contestant on  the show on Wednesday, Sept. 29.

Those interested in participating can visit the Resorts Ballroom from 2-6pm on Sept. 29. Those who attend this contestant search will be interviewed on video. Complete eligibility requirements are available here.

Reported earlier this week, state Democrats are planning a second in their series of three summit meetings regarding Gov. Chris Christie’s proposed changes to Atlantic City.

The next summit is scheduled for Sept. 10 at the Meadowlands in East Rutherford, another area that, in addition to Atlantic City, Christie feels needs state involvement and change.

The first summit was held  Aug. 6; read more about it here.

According to a casino gambling Web site, “Among the proposals being considered at the summit is allowing racetracks to add slot machines. Another issue being discussed is the state becoming more involved in the Atlantic City casino industry. The casinos themselves are pushing to keep the state away.”

These summits are not the same as the Mayor’s Strategic Planning meetings.

When folks in Atlantic City talk about a trip to the White House, they are not talking about a trip to D.C., they are talking about the fabulous sub shop. Now it has been announced that the White House will open a new location at the Trump Taj Mahal next spring. Go here for the story.

Courtesy of HBO

Including one very exciting one co-organized and co-presented by Atlantic City Weekly called “Conversations & Storytelling,” which will be followed by a free and open-to-the-public Viewing Party at Caesars on Sept. 19, the night of the premiere of HBO’s upcoming series Boardwalk Empire.

Click here for all the info, plus info about some of the major events planned for the Atlantic City area over next couple months in relation to the show.

While you’re at it join the AC Weekly Boardwalk Empire Fan Club on Facebook to keep up to date on all the news and promotions surrounding the Cable TV series.

The Hilton has announced that the Dick Cheney event scheduled for Sept. 18 has been postponed to a later date.

The new date hasn’t been announced yet, but we will pass it along as soon as it is posted.

Former Atlantic City casino executive Dennis Gomes has struck a deal to buy Resorts Casino, pledging to restore the luster and excitement that marked the property when it was the first casino to open in Atlantic City.

Gomes did not name a price or disclose any financial details of the deal, which was made with RAC Atlantic City Holdings LLC through Gomes Gaming Inc.

The casino, which opened in 1978, was taken over by its lenders in December 2009 after its previous owners couldn’t pay the mortgage.

Gomes entry into the market provides an extremely positive development as the city has been reeling under the pressure of the slow economy and increased competition from casinos in Pennsylvania, Delaware and now New York.

Gomes says he has faith in Resorts and the city as a whole.

“I believe in this property,” said Gomes in a press release. “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.”

Read our full story here.

Trump Entertainment has teamed up with Geico Racing to host the Offshore Powerboat Association (OPA) “Lightning on the Water” race on Sunday, Sept. 19. The event is free and open to the public. “Lightning on the Water” is hoping to become not only a fixture on the annual summer race card, but the featured event of the series. Go here for the story.

Dennis Miller

The fall entertainment schedule at area casinos is beginning to fill out as more September and October dates have been announced.
The Borgata is determined to make us laugh this autumn with a bevy of comics. Bob Saget, originally listed briefly yesterday (Aug. 16) with an Aug. 21 date, is now scheduled for Oct. 9. Joining him in an October onslaught of bellylaugh-inducing comedians are Jerry Seinfeld (Oct. 2), Howie Mandel (Oct. 2), Carlos Mencia (Oct. 8), Dennis Miller (Oct. 14), Rob Schneider (Oct. 16) and Jeffrey Ross with JB Smoove (Oct 22). Just to break up the guys is Mary J. Blige (Oct. 9).
There is also good news coming from Harrah’s Resorts, with the announcement that Penn and Teller have been booked Nov. 5-6. Other new shows announced include Pepper at the House of Blues Oct. 8 and the Allman Brothers Band Nov. 13 at Trump Taj Mahal. For the complete list of headliners, go here.

The Village Voice blog has an insightful post today on the New York Times “excellent piece” on Guy Fieri’s recent appearance at Caesars during the Atlantic City Food & Wine Festival.

Here’s the NY Times story. It’s called “Guy Fieri, Chef-Dude, Is in the House.”

Worth the read.