Tags: US | Struggling | Casinos

Atlantic City Casinos Struggling With Economy

Tuesday, 06 Apr 2010 02:02 PM

Resorts Atlantic City, the nation's first casino to open outside Nevada says it can't guarantee it will survive. Another Atlantic City casino hasn't paid its loan since last summer. And three others are in bankruptcy.

Atlantic City's 11 casinos have been struggling for more than three years now. Financial documents filed with the state this week show just how bad things have gotten.

The news was worst for the two casinos believed to be the most endangered: Resorts Atlantic City, which was taken over by its lenders in December, and the Atlantic City Hilton Casino Resort, which defaulted on its mortgage in July and could be headed for the same fate.

Resorts told the state it may not continue as a going concern.

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Resorts Atlantic City, the nation's first casino to open outside Nevada says it can't guarantee it will survive. Another Atlantic City casino hasn't paid its loan since last summer. And three others are in bankruptcy.Atlantic City's 11 casinos have been struggling for more...
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2010-02-06
 

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