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Day 1 of AC casino auction ends without winner

Local News | Dec 18, 2013

Day 1 of AC casino auction ends without winner

ATLANTIC CITY, N.J. (AP) — Eleven hours of bidding for an Atlantic City casino have failed to produce a new owner for it.

The bankruptcy auction of The Atlantic Club Casino Hotel was suspended Tuesday night and will resume Wednesday.

Participants won’t say how many parties remain in the running, cautioning the number is subject to change.

The casino was formerly known as the Atlantic City Hilton. It has struggled to compete with newer, larger casinos and with gambling halls popping up in neighboring states.

For the past year and a half it has focused on low-rollers and improved its financial position, but not fast enough to stave off the bankruptcy filing.

A deal to sell the Atlantic Club to the PokerStars website fell through earlier this year.