GAMING

Resorts International Inc. Files for Chapter 11: The company owned by Merv Griffin filed the bankruptcy plan, its second in recent years, to eliminate almost $500 million in debt. The Atlantic City, N.J.-based company will transfer its resort on Paradise Island, Bahamas, as well as cash, new secured debt and 36.5% of the company’s equity to debt holders. In return, the holders will cancel $482 million in principal amount of notes owed them by Resorts International. A Bankruptcy Court judge in Wilmington, Del., has scheduled a hearing for April 22 to confirm the plan. In its filing, Resorts International listed assets of $688.2 million and liabilities of $622.3 million.