NJ's Atlantic Club Casino Hotel nears final hours

ATLANTIC CITY, N.J. (AP) - January 12, 2014

It is falling victim to the casino saturation taking place in the Northeast, with new casinos outpacing the market's ability to support them all.

About 1,600 people will lose their jobs at 12:01 a.m. Monday as the 33-year-old casino closes its doors.

The Atlantic Club sought a buyer for years but was unable to attract one.

It filed for bankruptcy in November and was sold last month for a combined $23.4 million to two competitors who will strip it for parts and close it down. Tropicana Entertainment bought the table games, slot machines and customer lists, while Caesars Entertainment bought the 801-room hotel.

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