The Atlantic Club casino in Atlantic City has been forced to reveal its assets and liabilities as part of its bankruptcy process, months after it rejected PokerStars's attempt to acquire the firm for $15 million.
The group revealed that it has $17.1 million in real assets (less real property) and liabilities of $16.8 million. The casino is hoping to sell itself in a bankruptcy court auction, which is set to take place on December 17th. If the casino finds a buyer, the sale could be completed by March 2014.
Casino Listings readers will recall that the casino agreed to a purchasing deal with Pokerstars parent company Rational Group late last year, only to spurn the group once a deadline to get a New Jersey gaming license expired. The move was controversial, as the Atlantic Club pocketed millions of Rational's money and refused to refund it. That move was upheld by a New Jersey court.