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Want a Casino? Nj-new Jersey’s Atlantic Club Is On The Auction Block

Wednesday, February 26th, 2020

Want a Casino? Nj-new Jersey’s Atlantic Club Is On The Auction Block

New Jersey’s troubled Atlantic Club has filed for bankruptcy security and is now up for auction (Image supply: dol.wa.gov)

It absolutely was quite a weekend that is dramatic Atlantic City.

The Atlantic Club declared Chapter 11 bankruptcy, and next thing you know, the once-much-sought-after land casino was going up for sale as New Jersey inches closer and closer to its November 26th online casino launch, PokerStars was rejected (for now) for an Internet gaming license in the state.

Going As Soon As, Going Twice

If you’re interested in buying a casino having a lot of history (this 1 was originally developed and built by renowned mogul Steve Wynn), now’s your chance. Bids must be received by November 18, and also the auction itself takes place on an as-yet-undetermined date in mid-December. a bankruptcy that is federal gave her blessings to the hotel-casino to stay operating typically 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 process that is necessary’ 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 right along. She additionally pro (more…)