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Bankruptcy Auction Under Way For AC Casino

(The Atlantic Club casino-hotel.  Credit: Atlantic Club)

(The Atlantic Club casino-hotel. Credit: Atlantic Club)

ATLANTIC CITY, N.J. (AP) — A bankruptcy auction is underway for a struggling Atlantic City casino that hopes to emerge with a new owner.

Bids are being taken for the Atlantic Club Casino Hotel, which filed for Chapter 11 protection last month.

The casino formerly known as the Atlantic City Hilton has struggled to compete with newer, larger casinos, as well as with gambling halls popping up in neighboring states.

For the past year and a half it has focused on low-rollers and improved its financial position, but not fast enough to stave off a bankruptcy filing.

A deal to sell the Atlantic Club to the PokerStars web site fell through earlier this year.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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