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The Atlantic Club Casino is scheduled to near just after the primary of the year. The general day of operations may be January 12, with closure tomorrow. Although the once lavish casino, first opened by Steve Wynn because the Golden Nugget in 1980, was worth $500 million in 2005, that may be now not the case. In fact, Rational Group (PokerStars) was set to pay just 10% of that price a couple of months back before they were turned down for a gaming license. Now, that price appears to has been an unlimited overpayment!
When the valuables went to auction last week it sold for half what Rational Group was offering. In a fascinating twist, Caesars and the Tropicana split the cost, with Caesars taking the building and property for $15 million and the Tropicana took the slots (1,600+) and other gaming equipment for $8.4 million. The closure puts greater than 1,500 workers in the street and leaves an empty building at the boardwalk, but pruning the dying branches of Atlantic City's tree of gaming will benefit the opposite casinos.What little business the Atlantic Club had could be easily swallowed-up by its neighbors, strengthening the ground lines of clubs at the Atlantic Coast.
Along the Gulf Coast, the casinos of Louisiana are enjoying a small increase in gross revenues because the Margaritaville Resort Casino in Bossier City opened in August and the Isle of Capri Lake Charles opened a brand new hotel tower. Around the state, Louisiana has enjoyed increased tourism, but even three years after the Deepwater Horizon oil spill Mississippi coast beaches are still accumulating tar balls and in July (2013) a 40,000 pound tar mat near East Grand Terre, Louisiana was discovered, prompting the closure of business fishing across the area.
Read More... [Source: About.com Casino Gambling]
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