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Tag Archives: Atlantic Club casino

US – New York investment firm Colosseo buys Atlantic Club Casino

TJM Properties, a noted Florida real estate firm and hotel management company, has sold the Atlantic Club Casino Hotel to Colosseo Atlantic City, a New York City-based investment and construction firm. One of two TJM-owned properties located on Atlantic City’s fabled Boardwalk, the 800-room hotel was closed in 2014 by Caesars Entertainment, and subsequently purchased…

US – Atlantic City reports two consecutive months of increase

Gaming revenue in New Jersey has increased for two months running for the first time since 2006 with November’s takings up 27 per cent in Atlantic City. The city’s 12 casinos generated US$224.7m in November 2013 compared to $176.6m last November, when the casino city was struggling in the aftermath of Hurricane Sandy. Table revenue…

US – Caesars to buy non-gaming assets of Atlantic Club

Caesars Entertainment has agreed to acquire the non-gaming assets of the Atlantic Club in Atlantic City, including the real property, in a bankruptcy auction, pending approval of the bankruptcy court. The Atlantic Club’s gaming assets are being acquired by another buyer. The current owner of the Atlantic Club indicated it plans to close the facility January 13, 2014. Caesars…

US – Atlantic Club files for Chapter 11

Following the breakdown of its potential sale to PokerStars, Atlantic City’s struggling casino Atlantic Club Casino Hotel has now filed for bankruptcy protection to help see through a sale. The New Jersey Division of Gaming Enforcement said it expects the venue to remain operational throughout the Chapter 11 process, which mirrors moves by several Atlantic…

US – PokerStars secures court order keeping Atlantic Club deal alive

PokerStars has won a temporary court order preventing Colony Capital, the owner of the Atlantic Club Casino Hotel in Atlantic City, from terminating its agreement to sell the property to the online poker company. The order was issued by a New Jersey Superior Court Judge and prevents Colony from approaching other companies to purchase the…

US – PokerStars promises $40m investment in Atlantic Club Casino

PokerStars is to invest US$40m over the next five years to revamp the Atlantic Club Casino and Hotel in Atlantic City. Online gaming operator Rational Group US Holdings, who owns PokerStars, will invest the money to ensure the property is representative of its PokerStars brand. Rational Group filed an application with the New Jersey Division…

US – PokerStars goes all in for Atlantic Club

Rational Group, the owner of online poker giant PokerStars, is moving forward with its planned purchase of the Atlantic Club Casino in Atlantic City. If approved, the deal would signal a new era in the casino industry as the first time an Internet gaming company has bought a bricks-and-mortar casino. With New Jersey lawmakers set to approve online…

US – PokerStars in Atlantic Club talks

Online could be taking its biggest step yet into the bricks and mortar casino world with PokerStars deep in discussion with Colony Capital over a deal to purchase the Atlantic Club casino in Atlantic City. Sources close to the deal claim the Island of Man-based PokerStars is considering buying the troubled venue for less than…