Bankrupt Casino is Business as Usual | NBC 10 Philadelphia

Bankrupt Casino is Business as Usual



    (Published Friday, Nov. 8, 2013)

    A federal judge has allowed an Atlantic City casino to operate in bankruptcy court while seeking a buyer.
    Judge Gloria Burns on Friday decided The Atlantic Club Casino Hotel can stay open under Chapter 11 protection.
    The casino says it plans to accept bids by Nov. 18 and conduct a bankruptcy sale auction by mid-December, with a closing by mid-February.
    The judge let the casino continue to pay employees and key vendors, pay taxes and insurance, and maintain player loyalty programs while still in bankruptcy court.
    Half of Atlantic City's 12 casinos have filed for bankruptcy protection over the last six years.
    The Atlantic Club was formerly known as the Atlantic City Hilton.
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