Land-based gaming operator Caesars Entertainment Corporation has confirmed that its subsidiary, Caesars Entertainment Operating Company, has agreed to acquire the non-gaming assets of the Atlantic Club Casino Hotel in the US state of New Jersey in a bankruptcy auction.
The takeover is still reliant on approval from the bankruptcy court.
While the Caesars deal includes the acquisition of the real property, the Atlantic Club’s gaming assets are being acquired by another buyer.
The Atlantic Club’s current owner indicated that it plans to close the site on January 13, 2014, with Caesars expecting to close the purchase of the property shortly after.
Caesars confirmed it does not expect to resume gaming or hotel operations at the site and is instead evaluating options for the use of the assets, some of which may be used in the firm’s other properties in New Jersey.
source : www.igamingbusiness.com
