Atlantic Club Saga Continues (update)
By Casinomeister, Last updated Jan 10, 2014
Losing bidder seeks a re-hearing on auction decision
In a move that is probably now of merely academic interest to the online gambling industry, the losing bidder in the auctioning-off of the failed Atlantic Club Casino has said it intends to seek a re-hearing and review of its bid, which was a million dollars better than that submitted by the winners, Caesars Entertainment and Tropicana Entertainment (see previous InfoPowa reports).
According to a report in the Press of Atlantic City, Sobe Holdings LLC will submit the rehearing request on Monday, and if it is refused the company will take the matter to an appeal court.
Although the Sobe bid was higher, but Atlantic City Chief Judge Gloria Burns felt that the Caesars-Tropicana bid carried less risk.
Sobe disagrees with this assessment, and says that instead of stripping the company and retrenching its employees, it wants to revamp and rebrand the property and re-open it as a going concern.
The company has the necessary experience, as it operates and owns Deauville Beach Resort in Miami Beach, Florida.
Online Casino News Courtesy of Infopowa
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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophotography.
bryan@casinomeister.com
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