Bankruptcy Bids Resume for Troubled Atlantic Club Casino

Written by:
Associated Press
Published on:
Dec/18/2013
Bankruptcy Bids Resume for Troubled Atlantic Club Casino

ATLANTIC CITY, N.J. – (Associated Press) - A bankruptcy auction of a struggling Atlantic City casino has resumed.

The second day of bidding for the Atlantic Club Casino Hotel got underway at 10 a.m. Wednesday.

Eleven hours of bidding Tuesday failed to produce a purchaser for the casino, which filed for Chapter 11 protection last month.

The casino was formerly known as the Atlantic City Hilton. It has struggled to compete with newer, larger casinos and with gambling halls popping up in neighboring states.

For the past year and a half it has focused on low-rollers and improved its financial position, but not fast enough to stave off the bankruptcy filing.

A deal to sell the Atlantic Club to the PokerStars website fell through earlier this year.

Wayne Parry, Associated Press

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