Veteran casino executive Dennis Gomes and New York real estate developer Morris Bailey paid $31.5 million for the struggling gambling hall, which was taken over a year ago by its lenders when the former owners stopped making mortgage payments.
The pair will re-brand the casino with a Roaring '20s theme to take advantage of interest in "Boardwalk Empire," the hit HBO series about Prohibition-era Atlantic City.
Those changes should take effect around New Year's Eve, and a grand reopening is planned for Memorial Day weekend.
Most of Resorts' 2,000-plus employees had to take pay cuts in order to keep their jobs.
