The Atlantic Club Casino Hotel filed for Chapter 11 bankruptcy protection on Wednesday. The Atlantic Club has suffered a $7.3 million loss for the first 7 months of this year according to bankruptcy court documents.
It's the second casino in Atlantic City to file for bankruptcy protection this year, and in total 6 of 12 casinos there have filed for bankruptcy protection in the past six years - a [...] Read more » Another Atlantic City Casino Seeks Bankruptcy Protection
Joined: May '13
Location: Mauritius
Age: 32 (M)
Posts: 2688
Wtf mate, sad to see that poker online in the USA and having US players pools is not coming for any time soon. They should have allowed pokerstars to buy it, but I think it is mostly because of the legislation.
Sad but at this rate poker in America will die slowly. Also sad for the poker online rooms, I think that if they are to get out of bankruptcy they would have to get a local buyer! A US based buyer that is!!
Joined: Mar '11
Location: United Kingdom
Age: 55 (M)
Posts: 7371
pokerstars should have been allowed to buy this casino it doesnt make sense to deny this, they were happy to sell and this would have safeguarded nearly 2k jobs. it really is a worrying time for poker casinos everywhere
America is bizarre - sure own a sub-machine gun at 16, but playing poker? Well that's illegal...
I think the way peoples money situation is means people are staying away from casinos, online will be taking away revenue...or maybe there are less degen gamblers.
Joined: Apr '11
Location: Romania
Age: 35 (M)
Posts: 6669
America is a very, very strange country to say at least, i mean if someone in this case it was stars has the money and wants to buy a property why/how you can stop that?
My impression is that they want to close poker in US for good and that would be a shame.
Joined: Sep '11
Location: Bosnia and Herzegovina
Age: 41 (M)
Posts: 3048
Formerly known as the Atlantic City Hilton, the casino has struggled in the city’s cutthroat casino market. A deal to sell it to the world’s largest poker website fell through earlier this year.
Atlantic Club COO Michael Frawley says the casino’s strategy of offering low-priced gambling, food and entertainment has been working, but the market has not rebounded as fast as he hoped.
It joins Revel, the Tropicana and the Trump casinos among those who have sought bankruptcy protection in recent years.
