Ex-Gambling Regulator Becomes Casino Owner

Dennis Gomes, who worked for both the Nevada Gaming Commission and the New Jersey Division of Gaming Enforcement before developing his own casino company, agreed last week to buy Resorts Atlantic City, the historic casino that was the first to open in 1978 when state gambling laws were changed. Gomes Gaming’s purchase of the troubled casino is dependent on approval from the New Jersey Casino Control Commission.

Regulators saluted Gomes’ bid to save Resorts, which had been turned over to creditors by previous ownership when the mortgage could not be met. Credit Suisse assumed control of the property in lieu of foreclosure, but without Gomes or another buyer, Resorts would likely soon face closure.

Still, no one discussed the elephant in the room, the unlikely ability of a gaming regulator to legitimately have the resources necessary for such a deal, involving hundreds of millions of dollars in property.

Gomes had led investigations in Nevada seeking to discover and bar organized crime figures from the casino industry, and his probes were the foundation for part of the Scorcese film “Casino.” But, in that movie, regulators clamp down only when graft and nepotism directed to them are interrupted.

Still, New Jersey figures are relieved at saving the tax revenue and jobs provided by Resorts, leading to only cursory discussion of the unusual course of Gomes’ career.

“Mr. Gomes is a proven operator with a great deal of experience here in Atlantic City,” stated NJCCC Chairman Linda Kassekert. “This deal will preserve those jobs and hopefully create even more employment as the property improves.”