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However, by the next year, the office was closed.

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Levin later offered a leasehold interest in the property to Cavanaugh Communities Corp. Colonial filed bankruptcy in and gave the casino zoll back to Trans-Expo, which held the mortgage.


The hotel was imploded in In a groundbreaking was held for the intended construction of the Carousel Club Slot phones iphone Casino. The Boardwalk Regency opened in June The owners were approached twice by potential investors to buy the land for a hotel-casino, the first time by Meister Associates and the second time by Edward Wong.

The land consisted of 17 acres adjacent to The Borgata owned by Pagano, and a acre site across the street owned by Marina Towers Association. However, later that year, he faced charges by the Securities and Exchange Commission for misleading investors in the project.

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The company had formerly owned the Traymore Hotel and the Ambassador Hotelbut sold them before gambling was legalized in the city. Inthey had their land surveying licenses suspended.

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Inthe company began buying parcels of land adjacent to the Showboat Atlantic City for a planned hotel-casino. The property mentioned was the Holiday Inn, which was sold a few months later to Penthouse for its Penthouse Boardwalk Hotel and Casino project. Later that year, they planned to rezone a parcel of land on Route 30 at the city's gateway for development of a hotel-casino.

The fire resulted in substantial litigation.

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The company applied for a license on January 8, for the Caesars Palace Atlantic City project but never built anything on the site. However, when the opportunity came about in June to lease the Howard Johnson's Regency Motor Hotel and use the existing facilities to more quickly build a hotel-casino complex, the Traymore site project was put on hold.

The land was later sold to Pinnacle Atlantic City for a proposed hotel-casino.

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The company applied for a casino license on July 23, InKing International Corp. Inthey looked at acquiring a site on Great Island from Vornado, Inc.

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They planned to build one hotel-casino and sell up to three other parcels to other developers. Colonial Commercial then acquired the option from King International, with which it planned to merge, and later exercised the option.

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The following year, an investor lawsuit was filed against the company claiming it drove the stock price up by using false claims. The company had also agreed to allow Circus Circus Enterprises and Boyd Gaming to build casinos on the site, but later reneged on the agreement. Inthey conducted a feasibility study to determine whether they should re-enter the Atlantic City market and casino zoll a hotel-casino.