Nj-new jersey’s troubled Atlantic Club has filed for bankruptcy protection and is now up for auction (Image source: dol.wa.gov)
It absolutely was quite a weekend that is dramatic Atlantic City.
As nj-new jersey inches closer and closer to its November 26th online casino launch, PokerStars was rejected (for the present time) for the online gaming license within the state, the Atlantic Club declared Chapter 11 bankruptcy, and next thing you know, the once-much-sought-after land casino ended up being rising for sale.
Going Once, Going Twice
If you’re interested in buying a casino by having a complete lot of history (this one was originally developed and built by renowned mogul Steve Wynn), now’s your chance. Bids must be received by November 18, plus the auction itself will need put on a date that is as-yet-undetermined mid-December. a federal bankruptcy judge gave her blessings to the hotel-casino to remain running usually for now, underneath the umbrella of its Chapter 11 status.
The Atlantic Club’s attorney Michael Sirota noted that ‘we do plan to move fairly quickly,’ saying the casino is too short on operating budget to stay afloat for very long without a speedy sale bail out after making its court filing last week.
‘It’s the beginning of the necessary process,’ said Atlantic Club CEO Michael Frawley. Judge Gloria Burns put her stamp that is green the purchase plan, with everybody’s goal being to go it righ Continue reading “Want a Casino? New Jersey’s Atlantic Club Is On The Auction Block”