Atlantic Club Casino and Hotel Expected to be Sold By Spring 2014
The Atlantic Club Casino and Hotel will start accepting bids on the bankrupt casino sometime in December. The deal would be completed by late February or early March of 2014.
Prospective buyers would make bids on the bankrupt casino by Dec.16th. The offers would then be accepted the following day and the hearing to close any agreement would then take place on Dec.19th.
The Atlantic Club Casino was valued at $513 million. The casino also lost more than $7 million in the first nine months of 2012. The casino has been put up for sale a couple of times since 2011.