By Donald L. Wilno, Asbury Park Press, N.J.
Knight Ridder/Tribune Business News
Nov. 4--ATLANTIC CITY, N.J.--Robert M. Renneisen has resigned as Claridge Casino Hotel's chairman of the board
and chief executive officer, a day after Sands President and CEO John Belisle unexpectedly quit.
Both were in charge of casinos currently in bankruptcy.
Belisle's resignation, though, may be linked to Kevin DeSanctis' taking over the reins at Resorts Casino Hotel
on Monday.
DeSanctis, Sun International Hotel Ltd.'s chief operating officer for gaming, is being sent to Atlantic City because
of disappointing results after Resorts' heralded $50 million makeover. Sun International owns Resorts.
Sun International President Sol Kerzner, in a telephone conference call with analysts on Monday, said DeSanctis
would be bringing in some of his own people. Belisle is a friend of DeSanctis, a native of Hamilton, Mercer County.
It is widely speculated that Belisle, who spent 15 years at Resorts, including 2 1/2 years as president, would
be part of DeSanctis' new team.
Belisle had been working at Sands, in Chapter 11 bankruptcy protection since January 1998, without a contract.
In a prepared statement, the Sands said he was leaving "to explore other opportunities."
The Sands and its creditors are to appear in U.S. Bankruptcy Court in Camden on Dec. 17, when a plan to give bondholders
full ownership of the casino is to be presented. Corporate raider Carl Icahn owns one-third of Sands' bonds.
In a four-paragraph statement yesterday, the Claridge said James M. Montgomery, president of Houze, Shrouds and
Montgomery Inc., a management consulting firm, and a director of the Claridge since March 1995, was named chairman
of the board. Frank A. Bellis Jr., senior vice president and general counsel, would become CEO and a member of
the board.
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(c) 1999, Asbury Park Press, N.J. Distributed by Knight Ridder/Tribune Business News.