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. ![]() SICs: 7011 Hotels & Motels 6719 Holding Companies, Not Elsewhere Classified Incorporated: 1958 as Mary Carter Paint Company
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |