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Atlantic Club Casino To Shut Down in January
Saturday December 21,2013 : ADIOS ATLANTIC CLUB CASINO
Notorious Atlantic City land casino sold on auction and will be shut down in January.
The Atlantic Club land casino, notorious for using a time constraint to back out of an acquisition deal with Pokerstars and make off with that company’s advance monies will soon be no more.
After four days of trying to offload the property on auction the land casino was finally knocked down to two companies with casinos in Atlantic City, Tropicana Entertainment and Caesars Entertainment, who will pay a combined $23.4 million for the business.
Almost immediately, they announced that the troubled operation will close its doors on January 13 2014, reducing the number of casinos in the struggling gambling resort to 11.
Associated Press reports that it will be the first Atlantic City casino to close since the Sands shut down in 2006 to make way for a new casino project that in the end was not built.
According to bankruptcy filings on Friday afternoon, Tropicana will take the 1,641 slot machines and 48 table games for $8.4 million, while Caesars will get the property and its more than 800 hotel rooms for $15 million.
A judge must approve the buyers at a hearing Monday.
Atlantic Club's chief operating officer, Michael Frawley, paid tribute to the1,659 casino staff but acknowledged that the operation's pace was ".....unsustainable in the extremely challenging Atlantic City gaming market."
The Atlantic Club was formerly known as The Atlantic City Hilton, and before that, as the original Golden Nugget in Atlantic City. The owners, Los Angeles hedge fund firm Colony Capital LLC, paid more than a half-billion dollars for it in 2005.
Spokesmen for Caesars were unable to disclose what the company plans for the property once Atlantic Club exits, but revealed that they are to meet with New Jersey gambling regulators within three days to determine what approvals will be necessary in order to end gambling on the premises.
Associated Press notes that the court filings seem to indicate that Caesars may use the hotel portion of the property as a non-casino hotel. It already owns four casinos in Atlantic City - Caesars, Harrah's, Bally's and the Showboat - and hotel rooms for gamblers are at a premium on weekends.
The news agency claims that another struggling casino, Revel Casino Hotel, could be headed for a second bankruptcy filing, or could be sold to new owners soon.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgaming’s customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sunday’s 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at –115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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