For all the pain, one expert says things in Atlantic City are not as bad as they seem.
Reports indicate that developer Glenn Straub wants nothing to do with a casino, assuming the deal goes through in federal bankruptcy court. But what he might do with the $2.4-billion property is not clear.
Despite casino closures, Atlantic City is still a destination that draws 25 million visitors a year.
Today is the deadline for prospective buyers of the $2 billion dollar complex to submit sealed bids to a New York law firm. Those bids will be opened later in the week, and then it’s all up to a federal bankruptcy judge in Camden.
The people who run the Hard Rock franchise appeared to be backing off a potential deal.
Hard Rock has filed paperwork with New Jersey gambling officials to get the ball rolling toward opening a casino in Atlantic City.
The Atlantic Club, the old Hilton, tried to lure in locals with lower-priced table games, economical food, and entertainment. Even free parking.
The last time the casino “win,” as it’s called, was up was in August 2008.