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Bankrupt Atlantic Club Going To Auction

Troubled Atlantic City casino the Atlantic Club will be going up for auction less than a year after it rebuffed internet poker giant PokerStars' attempt to purchase the spot.

The casino's owners RIH Acquisitions NJ LLC announced that it will be accepting sealed bids until December 16th and will work with the winner to finalize the transaction by mid-2014. The deal will likely be for less than the $15 million price that the Rational Group attempted to purchase the casino for earlier this year, a move that likely cost the casino's owners dearly, even though they walked off with an $11 million deposit from the poker giant.

The Atlantic Club has regularly been one of the worst performing casinos in Atlantic City, and has been running large deficits for quite some time.

Casino Listings will update this story as more developments arise.

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