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Atlantic City Hilton Casino Resort officially for sale

Press of Atlantic City,  Saturday, February 12, 2011 at 12:09:51 AM

Over the years, it has been known as the Golden Nugget, Bally's Grand, The Grand and the Atlantic City Hilton Casino Resort. With the name changes came a succession of owners.

Another name change and another owner are likely on the horizon for the Hilton, Atlantic City's smallest casino. International investment bank Houlihan Lokey has been hired to sell the casino while a foreclosure fight between the Hilton and its lenders has been put on hold.

Houlihan Lokey is preparing a confidential "offering memo" that will be sent to potential buyers. Depending on their level of interest, the would-be buyers will be narrowed down to a few finalists, and then negotiations will begin for a sale. The process is expected to take several weeks.

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