Resorts International Holdings

Resorts International Holdings, LLC, also known as Colony Resorts Holdings, was a United States gaming and resort holding company affiliated with Colony Capital, the investment firm later known as Colony NorthStar. The company was based in Las Vegas, Nevada, and assembled a portfolio of casino properties, particularly through the acquisition of underperforming or financially distressed assets. RIH was established in 2000 after Colony Capital acquired Resorts Atlantic City from Sun International for $144 million. Rather than operating as a conventional consumer-facing resort brand, RIH functioned primarily as an ownership and investment platform for casino properties. Its portfolio expanded through a series of acquisitions and partnerships involving properties in Atlantic City, Las Vegas, Tunica, Mississippi, and East Chicago, Indiana. Among the properties associated with the company were Resorts Atlantic City, the Las Vegas Hilton, Bally's Tunica, Resorts Casino Tunica, Ameristar Casino East Chicago, and the Atlantic City Hilton. The portfolio reflected an investment strategy centered on acquiring casinos that were struggling or in decline and attempting to reposition, operate, or monetize them. In 2005, the company was described as the fifth-largest gaming company in the United States, with Nick Ribis associated with its leadership at that time. The company later contracted as several assets left its portfolio or entered financial distress. Resorts East Chicago was sold to Ameristar, while Resorts Atlantic City ultimately entered bankruptcy. The company's remaining casino interests continued to diminish, and its last casino, the Atlantic Club Casino, was lost through bankruptcy proceedings in 2014. RIH is therefore principally remembered as a Colony-affiliated casino investment platform whose expansion through distressed gaming assets was followed by portfolio decline and the loss of its final property.

Resorts International Holdings was formed in 2000 by Colony Capital as an affiliate dedicated to casino and resort investments. Its creation followed Colony's purchase of Resorts Atlantic City from Sun International for $144 million. The transaction gave Colony a platform in the Atlantic City gaming market and provided the basis for a broader portfolio strategy. The company pursued properties that were underperforming, financially distressed, or otherwise in decline. This approach distinguished RIH from a purely organic hospitality operator: its growth depended substantially on acquisitions, portfolio transactions, and partnerships connected to Colony Capital. Over time, the company became associated with several casino assets across major United States gaming markets. The properties linked to RIH included Resorts Atlantic City and the Atlantic City Hilton in New Jersey; the Las Vegas Hilton in Nevada; Bally's Tunica and Resorts Casino Tunica in Mississippi; and Ameristar Casino East Chicago in Indiana. The portfolio changed as assets were acquired, operated, partnered, sold, or placed into bankruptcy. Resorts East Chicago was sold to Ameristar, illustrating the company's role as a portfolio owner willing to dispose of individual properties rather than maintain a permanent chain of branded casinos. By 2005, RIH was identified as the fifth-largest gaming company in the United States. Nick Ribis was associated with the company during this period. The scale of the portfolio reflected the expansion phase of Colony's gaming investment strategy, but the company's position weakened as some of its properties encountered continuing financial and operating difficulties. Resorts Atlantic City ultimately entered bankruptcy, contributing to the erosion of RIH's portfolio. The company later lost the Atlantic Club Casino through bankruptcy proceedings in 2014. Because the Atlantic Club was its last casino, this event effectively marked the end of RIH as an operating casino portfolio. The company is consequently best understood as a historical casino holding company rather than an active hospitality brand. Its trajectory—from the 2000 acquisition of Resorts Atlantic City, through expansion into multiple U.S. gaming markets, to the disposal or bankruptcy of its casino assets—illustrates the risks of investing in distressed gaming properties.

• 2014

  Loss of the final casino property

  [1]Resorts International Holdingsen.wikipedia.org

  The Atlantic Club Casino entered bankruptcy, leaving Resorts International Holdings without a casino property.

• 2005

  Recognized as the fifth-largest U.S. gaming company

  [1]Resorts International Holdingsen.wikipedia.org

  RIH was described as the fifth-largest gaming company in the United States during its expansion period.

• 2000

  Formation following Resorts Atlantic City acquisition

  [1]Resorts International Holdingsen.wikipedia.org

  Colony Capital established Resorts International Holdings after acquiring Resorts Atlantic City from Sun International for $144 million.

A casino and resort investment platform focused on acquiring, holding, and managing underperforming or distressed gaming properties in the United States.

• Casino resort

  Resorts Atlantic City

  The Atlantic City casino resort acquired by Colony Capital from Sun International in 2000. It formed the foundation of Resorts International Holdings and served as the company's principal initial asset. The property later entered bankruptcy, contributing to the decline of RIH's casino portfolio.

• Casino hotel

  Las Vegas Hilton

  A major Las Vegas casino hotel associated with the company's acquisition and partnership portfolio. Its inclusion gave RIH exposure to the Las Vegas gaming market, although the available reference material does not establish the precise period or structure of the company's interest.

• Casino resort

  Bally's Tunica

  A Tunica, Mississippi casino property associated with Resorts International Holdings. It represented the company's participation in regional gaming markets outside Atlantic City and Las Vegas.

• Casino resort

  Resorts Casino Tunica

  A casino property in Tunica, Mississippi included among the holdings or affiliated properties associated with RIH. The property formed part of the company's broader regional casino portfolio.

• Casino resort

  Ameristar Casino East Chicago

  An East Chicago, Indiana casino property associated with RIH and later involved in a transaction in which Resorts East Chicago was sold to Ameristar. The asset illustrates the company's practice of acquiring and subsequently divesting individual casino properties.

• Casino hotel

  Atlantic City Hilton

  An Atlantic City casino hotel included among the properties associated with Resorts International Holdings. It contributed to the company's presence in the Atlantic City gaming market.

• Casino resort

  Atlantic Club Casino

  The Atlantic City casino that became Resorts International Holdings' final casino property. Its bankruptcy in 2014 marked the effective end of RIH's operating casino portfolio.

• 2014

  Atlantic Club Casino bankruptcyOther

  Background

  After other properties had been sold or lost, the Atlantic Club Casino remained RIH's last casino asset.

  Action taken

  The Atlantic Club Casino entered bankruptcy proceedings.

  Aftermath

  RIH lost its final casino, effectively ending its operating presence as a casino company.

  Source

• 2000

  Acquire Resorts Atlantic City and create the RIH platformM&A

  Background

  Colony Capital sought to establish a casino investment platform through the acquisition of Resorts Atlantic City from Sun International.

  Action taken

  Colony Capital purchased Resorts Atlantic City for $144 million and created Resorts International Holdings to hold and develop gaming assets.

  Aftermath

  The transaction became the starting point for RIH's subsequent expansion into additional U.S. casino properties.

  Acquisition price. $144 million (2000)

  Source

• Build a portfolio through distressed-property acquisitionsStrategy

  Background

  RIH operated within Colony Capital's strategy of investing in casino properties that were underperforming or in decline.

  Action taken

  The company expanded through acquisitions and partnerships involving casino properties in Atlantic City, Las Vegas, Tunica, and East Chicago.

  Aftermath

  The strategy produced a substantial portfolio by 2005 but was followed by asset sales, bankruptcies, and the eventual loss of the company's final casino.

  Source

1. 1Resorts International Holdingsen.wikipedia.org