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For Immediate Release:
For Further Information:
November 3, 2011

Office of The Attorney General
- Paula T. Dow, Attorney General 
Division of Gaming Enforcement
- David Rebuck, Acting Director

Media Inquiries-
Lisa Spengler
609-317-6201
lisa.spengler@njdge.org

Citizen Inquiries-
609-292-4925
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Agreement Reached to Continue ACH Operations
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  ATLANTIC CITY – A petition has been filed today with the Division of Gaming Enforcement for approval of an agreement between ACH and its lenders which seeks to resolve matters related to its foreclosure and allow ACH to continue operation.

“This agreement culminates a long period of uncertainty for ACH employees and the City of Atlantic City,” said Acting Director David Rebuck. “We are pleased with the efforts of all the parties in reaching this agreement aimed at allowing the casino to sustain its high level of operations while maintaining the hundreds of jobs of persons employed by ACH.”

Under the agreement, Colony Investors, a guarantor of the ACH loan, and the lenders of ACH are both contributing funds to provide cash support to ACH. Through its parent company Resorts International Holdings, LLC (RIH), ACH is affiliated with two Mississippi casino properties, Bally's Tunica and Resorts Tunica. RIH has agreed that the lenders may foreclose on RIH's interests in the Mississippi properties.

The Division has been closely monitoring the financial situation at ACH since the loan default and has been actively engaged with the parties as they sought to reach a resolution.

The Division plans to file its response to the petition early next week. This matter will be heard at the Casino Control Commission’s regular monthly meeting scheduled for November 16, 2011. At that time the Division will present its case regarding the continued financial stability of ACH.

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