Leisure & Hospitality International - Spring 2015 - 34

R E S O RT S C A SI N O HO T E L

www.resortsac.com Headquarters: Atlantic City, N.J. Employees: 1,500
Specialty: Full-service hotel and casino

Better than Luck
Rather than relying on chance, Resorts Casino Hotel developed a
strategic plan to turn its fortune around. BY JAMIE MORGAN

Resorts Casino Hotel was not alone
when it began to feel the pressure
of Atlantic City's contracting gaming
market. The region's gaming industry once stood tall at $5.2 billion, the
second-largest gaming market in the
country. Today, that number has been
cut in half as competition grew from
surrounding states building up their
own gaming markets.
"The market could not support 12
casinos so four of them have gone out
of business," President and CEO Mark
Giannantonio explains. "The goal at
Resorts was to take a property that
was losing a lot of money and make
it profitable, and we've really laid the
foundation to do that. 2014 will be the
first year of positive gross operation
profit since 2007."
What's remarkable about Resorts
Casino Hotel's turnaround is that
Giannantonio says it was one of the
properties most likely to close. But by
attracting a new owner, senior leadership and management team, Resorts
Casino Hotel has not only kept the
doors open, but transformed itself into
more than just a casino to become an
Atlantic City destination.
New York City businessman Morris
Bailey bought the company in 2010 on
a mission to see Atlantic City thrive. The
resolve was driven by more than just
financial gain.
"He really has a love and desire to see
Atlantic City do very well," Giannanto-

Mark Giannantonio

president and CEO
"The goal at Resorts was to take
a property that was losing a lot of
money and make it profitable."
Resorts Casino Hotel's beachfront complex includes two major restaurants, Landshark Bar and Grill and Margaritaville.

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