Judge approves Atlantic Club Casino shutdown

Judge approves Atlantic Club Casino shutdown

Posted: Updated:
WAYNE PARRY | AP

CAMDEN, N.J. (AP) - A federal bankruptcy court judge has approved the sale and shutdown of Atlantic City's Atlantic Club Casino Hotel.

Judge Gloria Burns approved a deal Monday that was reached last week in which two rival companies, Tropicana and Caesars, will buy the casino for $23.4 million and shut it down Jan. 13.

The Tropicana will take the slot machines and table games, while Caesars will get the 800-plus-room hotel.

Neither has any interest in operating the business in Atlantic City's now diminished market.

Atlantic City will have 11 casinos after the shutdown.

The Atlantic Club became the first Atlantic City casino to close due to the downward spiral touched off seven years ago by the arrival of casinos in neighboring Pennsylvania.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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