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Resorts International Inc

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BUSINESS
May 1, 1995 | Times Staff and Wire Reports
Resorts International Plans Name Change: The Atlantic City, N.J.-based casino company controlled by former talk-show host Merv Griffin said it plans to change its name to Griffin Gaming & Entertainment Inc. The company, which owns and operates the 670-room Merv Griffin's Resorts Casino Hotel in Atlantic City, will ask shareholders to approve the name change on June 27. Griffin is chairman of Resorts International. The company also announced the appointment of Thomas E.
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BUSINESS
March 22, 1994 | From Times Staff and Wire Reports
Resorts International Inc. Files for Chapter 11: The company owned by Merv Griffin filed the bankruptcy plan, its second in recent years, to eliminate almost $500 million in debt. The Atlantic City, N.J.-based company will transfer its resort on Paradise Island, Bahamas, as well as cash, new secured debt and 36.5% of the company's equity to debt holders. In return, the holders will cancel $482 million in principal amount of notes owed them by Resorts International.
BUSINESS
June 10, 1987
A Florida probate judge approved developer Donald Trump's $79-million purchase of controlling interest in Resorts International Inc., rejecting an unsolicited $210-per-share bid by New Jersey Five Trust. Trump owns two of Atlantic City's 12 casinos, while Resorts owns one and is building another. Resorts also owns a casino in the Bahamas, holds 12% of Pan American World Airways stock and owns Miami-based Chalk's International Airlines, which flies to the Bahamas.
BUSINESS
March 22, 1994 | From Times Staff and Wire Reports
Resorts International Inc. Files for Chapter 11: The company owned by Merv Griffin filed the bankruptcy plan, its second in recent years, to eliminate almost $500 million in debt. The Atlantic City, N.J.-based company will transfer its resort on Paradise Island, Bahamas, as well as cash, new secured debt and 36.5% of the company's equity to debt holders. In return, the holders will cancel $482 million in principal amount of notes owed them by Resorts International.
BUSINESS
August 28, 1989 | From Times wire services
Debt-ridden Resorts International Inc. and its subsidiaries have stopped paying interest to its bondholders, company officials announced today. "It has become clear that Resorts is a much bigger challenge than we anticipated," said company owner and Chairman Merv Griffin in a news release.
BUSINESS
April 17, 1990 | TOM FURLONG, TIMES STAFF WRITER
Resorts International, the struggling gambling company headed by Hollywood producer Merv Griffin, sustained losses of more than $300 million for the second year in a row, the company said Monday. The company lost $303 million in 1989, $181 million of which resulted from a writeoff of its goodwill, an intangible asset that reflects what a buyer pays for a property beyond its tangible value.
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