A bankruptcy court judge says she will approve an auction Sept. 24 for the closed $2.4 billion Revel Casino Hotel.
Sources tell CBS 3 Eyewitness News that the Trump Taj Mahal in Atlantic City is filing for bankruptcy, is expected to close in November and terminate all employees.
Revel Casino Hotel told a bankruptcy court judge it is still negotiating with potential buyers.
Atlantic City’s mayor says there are six potential buyers for the Revel Casino Hotel, which is up for sale next month at a bankruptcy auction.
Shortly after distributing the letters, Revel filed a Chapter 11 petition with the federal bankruptcy court, its second in as many years. Revel said it hopes to find a buyer quickly.
Competitors are already picking at the soon-to-be-closed Atlantic Club Casino Hotel, trying to lure customers and employees to their own casinos.
The Atlantic Club Casino Hotel in Atlantic City says it will close on January 13th, reducing the number of casinos in the struggling gambling resort to eleven.
Six months after exiting bankruptcy court, Atlantic City’s newest casino may be up for sale — or headed back to bankruptcy.
The Atlantic Club Casino Hotel filed for Chapter 11 bankruptcy protection Thursday, the second Atlantic City casino to do so this year.
Chris discusses President Obama’s statement on Trayvon Martin and Race, the impending birth of the royal baby, and the bankruptcy of Detroit. He talks to Jeff Roe and Michael Bronstein on the Monday Morning Matchup, Phillies Manager Charlie Manuel, John Hayward from Human Events, and Rob Levine from Holt’s Cigar Company.
From Beach Haven at the Jersey shore, Chris follows the bankruptcy filing by the city of Detroit, the President’s statements on the efficacy of Obamacare. He also talks to Steve Cordasco on Finance Friday, CBS 3’s Beasley Reece, and Lou Richards, Owner of the Crust and Crumb.
The struggling Atlantic City casino formally emerged from bankruptcy court on Tuesday, just 13 months after it opened with sky-high hopes.
Singer Dionne Warwick owes nearly $10 million in back taxes and has filed for bankruptcy.
On Monday, the $2.4 billion resort found it could not break the law of supply and demand as it filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Camden.
Kevin DeSanctis, the man who guided Atlantic City’s Revel casino-hotel through its tortuous development, only to see it struggle in the cutthroat East Coast gambling market, is stepping down as head of the $2.4 billion resort.