merv griffin's paradise island resort and casino

At the same time, Resorts also founded International Intelligence, Inc., known as Intertel, as part of its efforts to ensure security in its gaming operations. The following year, the company expanded its geographic scope, establishing Resorts International N.V., based in the Netherlands.

Six months after the completion of this corporate transformation, Resorts finished a second hotel on Paradise Island, the Britannia Beach Hotel. Thus, on June 24, 1968, what had been the Mary Carter Paint Company became resorts international, inc., a corporation engaged in developing property, as well as owning and operating casinos and resorts. As part of the purchase price, Delafield gained the right to the Mary Carter name. Clearly, this property development sideline soon became the company ’s main focus, and, accordingly, in May 1968, Mary Carter Paint sold its paint division to Delafield Industries for just over $10 million. In December 1967, Mary Carter Paint completed construction of the Paradise Island Hotel and Villas, which would be operated by the Loews Corporation until 1981, and also opened the Paradise Island Casino. To this new interest in properties the company soon added property on the resort of Paradise Island. That year, Mary Carter Paint made another acquisition that would have a more significant impact on its future: Bahamas Developers Ltd. Initially, Mary Carter Paint grew by acquiring other paint companies, such as the Victor Paint Company, purchased in 1962, and the Atlantic Paint Company, purchased in 1963. The company that evolved into Resorts started in 1958 as the Mary Carter Paint Company, which was itself the successor of a company founded in 1908. Less ambitious in the 1990s, Resorts has sought to consolidate its financial standing. In the mid –1980s, the company changed hands twice, in a series of controversial deals, and eventually wound up in bankruptcy. However, in an effort to capitalize on the potential of the Atlantic City market, Resorts amassed large debts, which eventually jeopardized its financial stability. The company opened the first casino allowed on the East Coast in the late 1970s and watched its profits soar. Resorts International, Inc., operates a hotel and casino in Atlantic City, New Jersey, and a vacation destination on Paradise Island in the Bahamas. Public Company Incorporated: 1958 as Mary Carter Paint Company Employees: 7,200 Sales: $436.9 million SICs: 7011 Hotels & Motels 6719 Holding Companies, Not Elsewhere Classified 1133 Boardwalk Atlantic City, New Jersey 08401 U.S.A.

Merv griffin's paradise island resort and casino