Wednesday November 20 ,2013 : ATLANTIC CLUB CASINO TO BE AUCTIONED
Notorious for backing out of a Pokerstars deal, casino is now bankrupt and about to go on the auction block.
Atlantic Club, the Atlantic City casino notorious in the industry for backing out of an acquisition deal with Pokerstars and making off with around $11 million of its money is now not only bankrupt, but about to be auctioned off.
Owners RIH Acquisitions NJ LLC will accept sealed bids until December 16 this year with a view to finalising the sale with the winning bidder mid-2014, the company has announced.
RIH plans to release the identity of the winning bidder before the end of 2013.
Potential bidders will need both courage and resources, as the operation has been turning in poor performances and is manifestly in financial difficulties.  In the abortive Pokerstars deal an acquisition price of $15 million was agreed.